On May 22, 2024, the China Chengxin Green and Sustainable Finance Series Forum - Bank Climate Risk Salon was successfully held at the China Chengxin Hong Kong Headquarters. The salon aims to share practical experience in bank climate risk stress testing and explore the responsibilities and opportunities of the banking industry in addressing climate change challenges. Wang Qian, President of CCXGFI, Wei Wenlong, Director of Climate Risk Business of China Chengxin Green Finance, and more than 30 guests from Hong Kong Chinese banking institutions such as Bank of Communications (Hong Kong), CCB Asia, ICBC Asia, Bank of China (Hong Kong), and Agricultural Bank of China (Hong Kong) attended the meeting.
Ms. Wang Qian, President of CCXGFI , said that as a green and sustainable financial service provider in Hong Kong, China Chengxin Green Finance is actively deploying climate-related products and services, including climate information disclosure, climate risk stress testing and climate-related certification services. She looks forward to in-depth discussions and communications with colleagues in the industry through this exchange to jointly promote the prosperity and development of the industry.
Wei Wenlong, Director of Climate Risk Business at China Chengxin Green Finance, shared his views on the stress test of climate risk for banks. Against the backdrop of the Hong Kong Monetary Authority conducting climate risk stress tests on financial institutions, Wei Wenlong elaborated on the analysis ideas and application cases of transition risk and physical risk. Based on China Chengxin's profound industry research, Wei Wenlong also conducted in-depth research and analysis on the transformation path of high-carbon industries. At the same time, Wei Wenlong made an in-depth comparison of the analysis methods and models of climate risk stress tests between the Hong Kong Monetary Authority and China Chengxin.
Subsequently, Wang Teze, International Marketing Director of China Chengxin Green Finance, gave an overall introduction to China Chengxin's climate-related business. China Chengxin has carried out solid work on business contents such as bank climate information disclosure and bank climate risk stress testing, and has received good market feedback. At the same time, China Chengxin has also launched relevant climate and sustainable certification services around climate adaptability and ESG management, further helping banks and financial institutions to promote climate risk management.
As the global climate change problem becomes increasingly serious, the banking industry, as an important part of the financial system, plays a vital role in supporting the green transformation of the real economy and managing climate risks. Through climate risk management and other related work, it is beneficial for banks and financial institutions to formulate sound climate risk management policies, improve climate resilience, enhance the confidence of investors, regulators and stakeholders in banks and organizations, and promote sustainable development.
This is the second event of the China Chengxin Green and Sustainable Finance Forum. In the future, CCXGFI will closely follow the needs of the industry, launch more forums and activities around green and low-carbon transformation and development, and work with the industry to continue to make greater contributions to promoting the green transformation of the economy and achieving sustainable development.
