IFF Announces Annual Selection of the Green Finance Award at World Environment Day | News

Beijing, June 6, 2022 / PRNewswire / – The International Finance Forum (IFF) will be held on fifth. June, World Environment Day, will be accepting entries for the annual IFF Global Green Finance Award.

Following the theme of World Environment Day “Only One Earth”, which emphasizes the need to live a sustainable life in harmony with nature through political change and our choices, the IFF Global Green Finance Award is intended for candidates who offer green financial solutions that promote the transformation of growth economic, contribute to the prevention and control of pollution and counteracting climate change, as well as the improvement of energy efficiency, energy saving and emission reduction. This year’s award is a global call for innovation and practical application in the fields of politics, system, industry, services, technology development and talent.

Earth is our only home and we must protect its limited resources. Unsustainable consumption and production contribute to climate change, nature degradation and biodiversity loss, pollution and the waste crisis. All these issues overlap, overlap and seriously threaten the future of our planet.

Natural resources are the basis of most goods, services and objects, and the foundation that supports our economy. However, the linear “take, produce, throw away” model drives the global economy using enormous amounts of natural resources. Nature is in “degraded mode” and we have very little time left.

To limit global warming to 1.5 ° C this century, we need to cut our annual global greenhouse gas emissions in half by 2030. However, with the ongoing impact of the COVID-19 pandemic over the past three years and the recent severe global geopolitical turmoil, economies around the world are teetering on the brink of an economic and energy crisis. We must act urgently to deal with the impending crisis. However, all this requires strong financial support.

In the face of the dual challenges of climate change and the global economic crisis, “green finance” has become a powerful tool that countries around the world are trying to promote. Many pioneering practices and trials have been made in terms of policies, systems, industry. It is essential to disseminate these successful best practices worldwide and accelerating the popularization of green finance to promote green growth and sustainable development.

Launched by IFF in 2020, the IFF Global Green Finance Award is judged by a panel of 25 globally influential and relevant leaders and elites from the financial and environmental sectors. In year In 2022, the award includes 10 innovation awards for innovative projects and 10 annual awards for institutions.

Annual institutional awards are awarded to institutions that have made an outstanding contribution to global, regional or national sustainability through green finance practices. This includes reaching the peak of carbon dioxide emissions and climate neutrality, tackling climate change and preserving biodiversity. The green financial activity of the institution must be sustainable and profitable.

Innovation awards for innovative projects are awarded to projects that represent a significant innovation in green finance, especially those that make a significant contribution to reaching the carbon summit and neutrality, fighting climate change and promoting biodiversity conservation.

Any institution that conducts activities promoting the development of green finance and bringing real benefits, including public, private and non-profit organizations, can apply for the awards.

Finance is a resilient and effective tool in promoting sustainable development and green finance will play an increasing role. The winners of the IFF Global Green Finance Innovation Award are pioneers, initiators and advocates of green and low-carbon industry. They direct the flow of green investments to the sustainable development sector, ”he said Han Seung-soo, Chairman of the Jury Committee, Co-Chairman of the IFF, 56th Chairman of the UN General Assembly and former Prime Minister of the Republic of Korea.

The IFF Global Green Finance Innovation Award will contribute to the further development of green finance and support a sustainable world with shared benefits for mankind ”.

The IFF has been highly praised by the United Nations and several international organizations, and is widely recognized for its important role in promoting green and sustainable development by financial institutions. In the annual financial statements and CSR reports of Chinese financial institutions for 2022, the Bank of ChinaChina Securities, Postal Savings Bank of ChinaBank Przemysłowo-Handlowy ChinaBank qingdaoIndustrial Bank i Huaxia Bank publicly announced the award as an important achievement in strictly implementing social responsibility and vigorously developing green finances. The IFF Global Green Finance Award not only promotes the practice of green finance by financial institutions, but also plays an active role in supporting local governments in achieving dual carbon goals.

The International Finance Forum (IFF) is an independent, non-governmental, non-governmental, non-profit organization founded in October 2003 in Beijing. It was presented by leading representatives of the G20 countries, emerging countries and international organizations, such as: China, United States, European Union and United Nations, World Bank and IMF. The IFF is a well-established, high-level platform for dialogue, communication and research network in finance that has been elevated to F20 (Finance 20) status.

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