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Tuesday, July 13, 2021

rough transcript from today's bloomberg live summit

https://www.bloomberg.com/news/videos/2021-07-13/asian-infrastructure-investment-bank-chair-on-asia-s-climate-priorities-video



#sustainablebizsummit

with president jin liqun aiib--- interviewer Haslinda Amin

Singapore   linkedin    …Joined February 2012 insta: @haslindatv
LinkedIn Top Voices 2020| BloombergTV Anchor| Chief International Correspondent for SE Asia| Host & Executive Producer of 'High Flyers'| 975 Following

links  sustainable business summit bloomberg live day 1 --6 hour tape

aiib and amundi

aiib and amundi cbi - climate bonds initiative

Yves Perrier, CEO of Amundi, added: “We are proud to launch this Framework with AIIB as we continue to make strides in the field of climate finance. Mobilizing key stakeholders in supporting the Paris Agreement in Asia is in line with Amundi’s commitment to ESG investing and reflects our extensive commitment to the region. This new Framework will further help the investment community address climate change through the mobilization of capital to emerging markets where it is much needed.”

Sean Kidney, CEO, Climate Bonds Initiative, commented: “Action on climate means action on investment and private sector involvement to create green capital markets. With this Framework, AIIB and Amundi are laying a new foundation for the development and growth of climate finance and transition investment in the region.”

This Framework builds upon AIIB’s climate finance milestones to date. In 2019 AIIB’s climate finance amounted to USD1.7 billion or 39 percent of total financing approved—an increase from USD2.5 billion or 35 percent of total financing approved over the previous three years combined (2016-2018). In 2019 the Bank launched the USD500 million AIIB Asia Climate Bond Portfolio to accelerate members’ climate action, catalyze  emerging market investment and address the underdeveloped climate-aligned bond market, providing a working model for the Framework. The portfolio will also function as the investment case for the Framework.

Amundi has been at the forefront of Climate Finance development, creating innovative solutions to bring new large-scale funding dedicated to financing the low-carbon economy across asset classes and geographies. As a responsible investor, Amundi seeks to fulfil its role by supporting investor mobilization and market development through flagship initiatives (such as the Portfolio Decarbonization Coalition) and partnerships with multilateral finance institutions. As of June 2020, climate finance solutions represented EUR19 billion in assets under management.

For more information about the AIIB-Amundi Climate Change Investment Framework visit: https://www.aiib.org/en/policies-strategies/framework-agreements/climate-change-investment-framework/index.html

 For climate change.  President jin of the Asian infrastructure Investment Bank, it's committed to being a green Bank. President always good to have you with us.

Thank you very much. I'm very happy to see you and answer your questions. First up, president Jin, you attended the just concluded, G20 meeting. Climate was among the top of its agenda for the first time, G20 members, recognize carbon pricing as a climate tool. Is it a game changer, you think? R.

 we are being hit by the very ferocious storm starting from last night. So we are really in the midst of the impact of the climate change and all the last three nights. I was involved in the G20 meetings focused on the climate change, mitigation adaptation and the transition to low carbon.

Economy as you know there's some discussions with regard to the carbon Taxation and pricing. I also made some comments on this because you see this is very much important and to mitigate the climate change by reducing the emissions. And moving quickly to Net, Zero is very much important and in this regard and carbon Taxation and carbon prIcing are considered one of the

Measures to deal with that. So I think this is a very important initiative, of course, it will take some time for Sovereign governments to reach consensus, so that they will be very good carbon market and Taxation. And also I think this would be very important to incentivize the private sector

 we in aiib families are watching this very closely. And if this this International agreement of this, I do believe International financial institutions should follow

Looks good on paper.

 Jin  how much Global coordination is there?  so far as the MDBs are concerned, I think we have worked very closely together as a team we in aiib have worked with the World Bank ,ADB particularly and working with other institutions to Enhance investment in climate change mitigation adaptation. L in 2020, there is about sixty six billion dollars provided by the mdbs along with the co-financing from the private sector of 85 billion dollars. A total about over a hundred fifty billion dollars of the resources are allocated for climate change mitigation and adaptation. So this is quire a big amount but I think is not enough so far as adaptation is needed Asia. As you know, stands at the Gap of 70 billion dollars a year. So  lots remains to be done. So there's cooperation among MDB's and cooperation between mdbs and the private sector.

Its not just about mitigation is also about adaptation. The pandemic has provided an opportunity to look at things differently. Resources have been reallocated from energy, intensive sectors to Greener sectors like health care. How can we build on that Asian countries are faced with a dual challenge of recovery from the pandemic and also to sustain economy in the countries which are highly indebted. In our view, it is very much important for many countries to deal with the both, in my view, climate change, mitigation adaptation and growth are not mutually exclusive indeed, they are mutually enhancing based on very good policies.

At this moment, it is very much important to ramp up efforts to contain the pandemic which is still raging with the new variants but with the vaccines rolling out, I think probably before the end of this year or early next year we can basically bring the pandemic under control and the next issue is how to sustain economy recover from the pandemic. So I think in Emerging from the pandemic, The Human Society should be well advised to pay more attention  to improve the ecosystem for the economic development and Environmental Protection.  How should we look at developing green and sectors? Like renewables.

That is key because of the insatiable appetite for energy. And looking at human capital to support such cleaner sectors. Of course. It's very important for us to improve the quality of the human resources at this moment. Our focus is on the Health Care System. Health Care system is considered one of the productive, sectors and only  healthy Nation can be productive. So I think it's appropriate to allocate certain amount of resources for Health Care system, which a really a big challenge for number of countries in Asia wITH Healthcare deficit. But education is also important. We at this moment do not allocate resources for education but I think our resource allocation for healthcare can help the government to allocate their own resources for education and education should be catered for with new development, the high-tech and in digital era. As you know the Industrial Revolution warmed up the planet and now the Technological Revolution must reverse the trend. And, we need to cool with the planet down to pre-industrial level, but all this involves, I think high-tech and basically education.

Aiib has said that 50% of its financing will be directed towards climate change by 2025, where are you on this and talk to us about some of the innovative solutions that you're looking at? How can technology and digital infrastructure be the answer to the 21st century green development. At this moment, we have already 45% of the financing for climate change. And by 2025,

50% of the approved  for climate change mitigation and adaptation. There are various ways to achieve that objective. First of all, it's very much important for us to mobilize private sector resources because as you know our resources are very limited and when we do infrastructure projects we make it we want to make sure that Infrastructure projects be done in an environmentally benign way. It will not increase emission on the contrary it should reduce emission and we also have some very Innovative approaches. As you know, we have investing climate resilience Partners a private Equity Fund, to mobilize the private resources to bring Climate technology.

Member countries. This is the way we work with the private sector and also, we have launched two portfolios under the sustainable Capital marketing initiative. One is the well receive ESG  portfolio with amundi as our asset manager and the other is Asia, climate Bond portfolio with amundi as the asset manager and actually ataiib the climate changing.

framework. I announced our bank, would not do any coal based  plants. And we will not do any projects which are related to coal. I made that very much clear in the meeting. As, you know, this is aiib among the CBI climate change,  Investment framework is very much important. It is to translate the key Objectives of Paris agreement iIn two fundamental metrics to assess the issues level of alignment with climate change, mitigation adaptation and transition to Net Zero. And all these efforts are very, very important for the climate change, mitigation. And that also indicates that aiibis the very creative and Innovative in doing everything possible to leverage our resources for that purpose. You talked about the need To collaborate with a private sector to mobilize private Capital. This has been the case for a very long time. Can you give us perhaps even anecdotal evidence as to how much progress has been made? I mean to get their investment more in line with the Paris agreement. You see, the progress is very obvious as I indicated in our efforts, we find very enthusiastic partners.

The private sector to work with us. I can see a heightened awareness of the importance of the investment in this on the part of the climate investors. We also know strong sense of social responsibility demonstrated by the private sector companies is very important for their reputation for the ability to raise capital in the market. And nowadays.

If the private sector, is only focused on making money to the neglect of the climate change impact. I don't think they will be welcomed. And so you see, I would say, broadly speaking, the heightened awareness of promoting climate change mitigation and adaptation it's really the consciousness of the private sector. So we have no difficulty working with them and Also, as you see,

It is very important for all of the asoan members of our bank, to create enabling environment for the private sector to enhance the investment. That's why I said propitious that the G7 says it will end overseas funding for coal.

 Is that all enough to force, a shift to clean energy and or is there a chance that some of  Asia May pivot or look towards the likes of Korea for those fundings? You see the Asian country are faced with the challenge? Because it's the populous region and Full poverty reduction programs imply, increased demand for energy because as more people are lifted out of poverty, they need a more decent life and they need more energy. So it's really a very big Challenge and while the mdbs Are allocating resoure For that purpose is still not a very much  and insufficient so we need to do a lot of things. Promoting Renewables is important and in our view to improve Energy Efficiency is also very important. You know, you simply cannot produce energy without looking atthe efficiency side, and in this regard, Mass transition systems in Asian Metropolis is Very  important and I would say they are lots of things these countries need to do with the support of the model of our Banks and and other institutions. So the challenges is there, the consensus is that right? I'm just wondering if there's one step that needs to be taken one. Would that be? Because the likes of the US China. India, they're set to burn more coal this year than ever. There's been an unrelenting called demand pushing prices. Prices to record levels.

The big economies. I think certainly have a big responsibility as I said during the G20 meeting. And when I was asked about the Chinese government's program and I would say China is a big country with a large population, starting from a very low development point and this ambitious objective of achieving carbon peeking by 2030 and carbon neutrality by 2060

This is ambitious but given the track record of China, you can believe if the government is committed to do something, they would do it. What India is going to do. It is I think important in terms of the demonstration effect when countries like China and India with lots of challenges facing them can still.

Try to achieve the objective. That should be a huge incentive to other countries to do the same.

President Jin, Always great to have you with us. Thank you so much for your insights today.
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full agenda

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Watch Live

8:00 AM - SBS Global Open 

8:05 AM - Getting to Net Zero: Oil & Gas 

  • Bernard Looney, CEO, BP
  • Moderator: Alix Steel, Anchor, Bloomberg TV

8:30 AM - Getting to Net Zero: Setting & Achieving Corporate Commitments

  • Xavier Denoly, SVP, Sustainable Development, Schneider Electric
  • Jim Whitehurst, Senior Advisor, IBM
  • Moderator: Kyle Harrison, Head of Sustainability Research, BloombergNEF

8:55 AM - Getting to Net Zero: The Role of Policy

  • Gina McCarthy, National Climate Advisor, The White House
  • Moderator: Jennifer A. Dlouhy, Energy & Environment Reporter, Bloomberg News

9:25 AM - Natixis Investment Managers Advisory Board Spotlight: ESG Investing – What’s Working and What’s Not

  • Ed Farrington, EVP, Institutional and Retirement, Natixis Investment Managers
  • Harald Walkate, Head of ESG, Natixis Investment Managers
  • Moderator: Lauren Kiel, General Manager, Bloomberg Green

9:35 AM - Getting to Net Zero: Mobilizing Capital

  • Matt Christensen, Managing Director, Global Head Sustainable & Impact Investing, Allianz Global Investors
  • Hervé P. Duteil, Chief Sustainability Officer, Americas, BNP Paribas
  • Moderator: Francine Lacqua, Editor-At-Large & Anchor, Bloomberg TV
10:00 AM
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10:05 AM - Getting to Net Zero: EV’s

  • Makoto Uchida, Director, Representative Executive Officer, President & CEO, Nissan Motor Co., Ltd.
  • Moderator: Haslinda Amin, Anchor, Bloomberg TV

10:20 AM - Schlumberger Advisory Board Spotlight: Committing to Climate Action - in oil and gas and beyond

  • Lees Rodionov, Director, Sustainability, Schlumberger 
  • Moderator: Lauren Kiel, General Manager, Bloomberg Green

10:30 AM - Getting to Net Zero: Aviation Decarbonization

  • Jimmy Samartzis, CEO & Board Director, LanzaJet
  • Brian DiMarino, Head of Operational Sustainability, JPMorgan Chase
  • Kelley Kizzier, Vice President for Global Climate, EDF
  • Moderator: Leslie Kaufman, Reporter, Bloomberg Green

11:00 AM - Increasing Supply Chain Emissions Transparency 

  • Jules Kortenhorst, CEO, Rocky Mountain Institute
  • Rebecca Marmot, Chief Sustainability Officer, Unilever
  • Dickon J. Pinner, Senior Partner, Global Leader Sustainability Practice, McKinsey
  • Moderator: Claire O’Neill, Managing Director, Climate & Energy, WBCSD 

11:30 AM - The Race to Zero

Immediately following the Formula E ABB New York City E-Prixe, we'll talk to top executives involved about how they are advancing the transition to electric vehicles, one race at a time. 

  • Dilbagh Gill, CEO & Team Principal, Mahindra Racing
  • Julia Pallé, Sustainability Director, Formula E
  • Theodor Swedjemark, Chief Communications & Sustainability Officer, ABB
  • Moderator: Jason Kelly, Chief Correspondent, Bloomberg QuickTake
12:00 PM
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12:00 PM - Building a Just Transition

  • Brandon Dennison, Founder & CEO, Coalfield Development
  • Suzanne DiBianca, Chief Impact Officer & EVP, Corporate Relations, Salesforce
  • Peggy Shepard, Co-Founder & Executive Editor, WE ACT for Environmental Justice
  • Moderator: Jillian Goodman, Editor, Bloomberg Green

12:30 PM - RBC Advisory Board Spotlight: Putting Purpose into Practice

  • Melanie Adams, VP & Head, Corporate Governance and Responsible Investment, RBC Global Asset Management
  • Lindsay Patrick, Managing Director and Head of Strategic Initiatives & ESG, RBC Capital Markets
  • Moderator: Lee Ballin, Head of Business Development, Sustainability, BloombergNEF

12:40 PM - The Next Wave of Sustainable Finance

  • Audrey Choi, CEO, Institute for Sustainable Investing & Chief Sustainability Officer, Morgan Stanley
  • Valerie Smith, Chief Sustainability Officer, Managing Director, Citi
  • Moderator: Katie Greifeld, Reporter, Bloomberg News and Anchor, Bloomberg QuickTake

1:05 PM - Committing to Progress: Sustainability Linked Loans

  • Ezgi Barcenas, Chief Sustainability Officer, AB InBev 
  • Fernando Tennenbaum, Chief Financial Officer, AB InBev
  • Moderator: Carol Massar, Anchor, Bloomberg Businessweek TV and Radio

1:30 PM - Asia’s Climate Priorities 

  • Jin Liqun, President and Chair, Asian Infrastructure Investment Bank
  • Moderator: Haslinda Amin, Anchor, Bloomberg TV

1:50 PM - Day One Mainstage Programming Concludes

2:10 PM
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2:10 PM - Editors Overtime

This exclusive session is available to premium event ticket holders. 

Bloomberg Intelligence's Shaheen Contractor and Eric Kane introduce us to the newest suite of ESG Scores. We'll cover the new offerings available in the Environmental, Social, Governance and BI Carbon categories, and take your questions live.

  • Shaheen Contractor, Research Analyst — Environmental, Social and Governance, Bloomberg Intelligence
  • Eric Kane, Head of ESG Research, Americas, Bloomberg Intelligence
  • Moderator: Meg Szabo, Senior Programming Director, Bloomberg Live

2:40 PM - Day One Programming Concludes

Click here for real-time transcription of this session. Please excuse any typos. The final transcription will be av

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