(Video source: London Stock Exchange)

On 6 December 2023, H.E. Ambassador Zheng Zeguang attended and delivered remarks at the Listing Ceremony for Agricultural Bank of China Limited London Branch Green Bond on the London Stock Exchange (LSE).

Ambassador Zheng pointed out that the listing coincided with COP28 being held in Dubai and carried special significance. Since 2015, Chinese financial institutions have issued green bonds and sustainable development bonds in the UK with a total value of over 12 billion US dollars. This reflects the firm resolve and concrete actions of the Chinese government and enterprises to promote green and low-carbon development and combat climate change.

Ambassador Zheng pointed out that guided by Xi Jinping Thought on Ecological Civilisation, China is making genuine efforts to vigorously advance energy revolution, promote green development, and champion international cooperation on climate change. Non-fossil fuel power sources now account for 50.9% of China’s total installed energy capacity, and it supplies 50% of the wind power and 80% of photovoltaic equipment of the world. In 2022, China’s CO2 emission intensity was reduced by more than 51% compared to 2005. Its production and sales volume of new energy vehicles rank first in the world, and more than half of the world’s electric cars run on its roads. China has allocated more than 1.2 billion yuan of special funds for South-South cooperation on climate change to support developing countries in capacity building to cope with the challenge. China is willing to carry out more collaboration in green finance with the LSE and the City of London.

Lin Li, Executive Vice President of the Agricultural Bank of China, Mark Logan MP, Vice-chair of the All-Party Parliamentary Group on China, Fang Wenjian, Chairman of China Chamber of Commerce in the UK, and representatives from the City of London, People’s Bank of China European Representative Office, as well as Chinese and UK financial institutions also attended the event.