💼 Global financial heavyweights gathered at Shanghai’s Bund Summit this week, spotlighting urgent climate challenges and the role of money in powering the planet’s green shift. From carbon pricing debates to eye-popping investment gaps, here’s the tea. ☕️
Former French Finance Minister Edmond Alphandery threw shade at slow progress, urging a 'global consensus' on carbon taxes 🌍. 'We need the WTO and other big players to step up,' he said, echoing the need for teamwork to hit Paris Agreement goals.
💰 $5 trillion alert! Amundi Asia’s Eddy Wong warned that current green investments are way below what’s needed to avoid climate doom. Spoiler: The next few years need MASSIVE cash injections into renewables.
China flexed its green muscles too. Ning Gaoning, ex-chair of Sinochem, highlighted the nation’s EV and solar tech exports 🚗⚡. Fun fact: China built over half the world’s new renewable energy in 2023, per IRENA data!
Meanwhile, Liu Shijin, a former Chinese policy advisor, dropped stats on solar/wind costs now beating coal 🔥➡️🌬️. His take? Keep reforms rolling to turbocharge the sector.
The summit, co-hosted by top Chinese economic think tanks, wrapped with a clear message: Finance is the secret sauce to saving the planet. Let’s cook. 👩🍳
