The Tsinghua PBCSF Carbon Neutrality Economic Forum opened grandly.

On September 16, 2021, the Tsinghua PBC School of Finance Carbon Neutrality Economics Forum was held at the Main Building of Tsinghua University. The forum, jointly hosted by Tsinghua University's PBC School of Finance, Schwarzman College, and China Economic Publishing House, focused on the theme of "Global Carbon Neutrality and Energy Transformation." Experts from government departments, international organizations, large energy companies, and financial groups from both China and abroad gathered to discuss pathways for low-carbon transformation and development.

Zhang Xiaohui, Dean of the PBC School of Finance at Tsinghua University, presided over the opening ceremony of the forum. She extended her greetings to the leaders, guests, and [others] attending the forum.She welcomed friends from home and abroad who watched the opening ceremony online. She pointed out that the "dual carbon" goal is a broad and profound systemic transformation of society, requiring collaborative efforts from all sectors, including energy, manufacturing, and academia. The financial sector, in particular, needs to play an indispensable role in guiding resource allocation, supporting the green and low-carbon transformation of the economy, and proactively preventing financial risks arising from climate change. Green and low-carbon development is a global trend towards sustainable development, and China's determination in addressing the "dual carbon" issue deserves respect from all countries. At the same time, coordinating development with emission reduction, and considering both the overall situation and local needs, requires global wisdom to explore key solutions, which is also the original intention of this forum. Zhang Xiaohui expressed her expectation that experts from government departments, international organizations, large energy companies, and financial institutions from home and abroad would contribute their insightful opinions on carbon reduction and emission reduction at this forum.

Yang Bin, member of the Standing Committee of the CPC Committee and Vice President of Tsinghua University, delivered the opening speech at the forum. He stated that seizing the opportunities presented by the carbon neutrality transformation, promoting the transformation of key industries, and advancing technological progress are issues that Tsinghua University is deeply concerned about and willing to work towards. Yang Bin said that the "dual carbon" goal is both a responsibility and an opportunity for Tsinghua as it enters a new stage. The carbon neutrality strategy is conducive to Tsinghua's ability to leverage and maintain its advantages in chemical engineering, promote the strategic transformation of related engineering disciplines, and also promote the interdisciplinary integration of multiple disciplines, giving full play to its comprehensive advantages, achieving international leadership, and serving national strategies.

Following the opening ceremony, the keynote speech session commenced. Li Yizhong, Vice Chairman of the Economic Committee of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC), President of the China Federation of Industrial Economics, and former Minister of Industry and Information Technology, delivered the first speech, themed "Responsibility, Pragmatism, and Advancing 'Dual Carbon'." Li Yizhong noted that this year marks the first anniversary of General Secretary Xi Jinping's announcement of the "dual carbon" target, highlighting the significant responsibility and arduous task of achieving carbon peaking and carbon neutrality. As a large developing country, China's industrial energy consumption is a major source of carbon emissions. Carbon reduction and emission reduction must begin at the industrial level, adjusting and optimizing the energy structure, industrial structure, and product structure. Li Yizhong analyzed the progress of my country's energy consumption structure adjustment in recent years, offering pragmatic suggestions for optimizing the industrial and product structures, and pointing out the need to actively develop new energy sources while simultaneously carrying out green and intelligent technological transformation. He suggested that all industries should dialectically analyze and accurately grasp the meaning of "dual carbon," developing non-fossil energy while also paying attention to the rational development and scientific utilization of fossil energy to achieve a matching and complementary relationship among various energy sources. He emphasized the need to strengthen basic work and policy research, and to focus on technological breakthroughs. Li Yizhong pointed out that the "dual carbon" target is a complex and arduous task requiring the joint efforts of the entire society.

Next, Xiao Gang, former chairman of the China Securities Regulatory Commission, shared the financial industry's deployments and practices in promoting carbon reduction and emission reduction. Green finance refers to a series of financial services organized to support environmental improvement, climate change response, and efficient resource utilization; it is an important component of the "dual carbon" target policy framework. Following the 14th Five-Year Plan, my country's green finance has shifted its focus to carbon reduction, which will have a long-term and systemic impact on the transformation of the financial industry's model and will also bring new challenges to monetary policy and macro-prudential policy. The country attaches great importance to green finance and has constructed a policy framework from five aspects: government leadership, giving full play to the role of the market, strengthening financial innovation, strengthening financial infrastructure construction, and improving the legal and regulatory system for green finance. Xiao Gang believes that further development of green finance requires implementing positive incentive mechanisms, cultivating an ESG asset ecosystem for individual investors, strengthening environmental risk analysis and stress testing, while also strengthening the disclosure of environmental information, strengthening green finance supervision, and effectively preventing and resolving financial risks.

Following this, Ma Yongsheng, Academician of the Chinese Academy of Engineering and General Manager of Sinopec Group, delivered a speech. He expressed his gratitude to people from all walks of life for their long-term support and assistance to Sinopec's various undertakings. He pointed out that addressing climate change is a shared responsibility of all countries in the world, and that "dual carbon" has been incorporated into the overall layout of China's ecological civilization construction, becoming an important consensus across society. As a central enterprise in the energy and chemical industry, Sinopec should shoulder this important responsibility. Under the "dual carbon" target, Sinopec has made three considerations and explorations on the issue of energy transition: First, the low-carbon energy transition will be significantly accelerated: Under carbon neutrality constraints, my country's oil and natural gas consumption will reach its peak more quickly, expected to be four years ahead of the global plan, highlighting the bridging role of natural gas in energy transition; Second, the development path of the oil and gas industry is gradually becoming clearer: Accelerating the creation of green oil and gas fields, green refining enterprises, green storage and transportation systems, and green technology support will become an important path for the oil and gas industry to move towards green and low-carbon development; Third, the choice of Sinopec's development path under the "dual carbon" target: Sinopec has always been committed to low-carbon development, vigorously promoting the low-carbon transformation and upgrading of traditional businesses, continuously enhancing green energy supply capacity, accelerating the improvement of energy utilization efficiency, and deeply promoting carbon emission reduction. Finally, Ma Yongsheng stated that "dual carbon" is a complex and long-term systematic project, and Sinopec is willing to work with colleagues from all walks of life to achieve the "dual carbon" goal and promote the sustained and healthy development of the economy and society.

Jin Yong, Academician of the Chinese Academy of Engineering and Dean of the Institute of Chemical Science and Technology at Tsinghua University, delivered a speech on the theme of "Cathode Peak, Carbon Neutrality, and Disruptive Technological Innovation." Jin first analyzed the current global carbon pool and my country's carbon emission status. He then proposed several ideas for achieving a balance between carbon reduction and economic development: First, reduce energy consumption per unit of GDP by providing financial support for intelligent manufacturing and increasing support for scientific research and innovation, thereby enabling the manufacturing industry to truly achieve low emissions and high added value. Second, accelerate industrial restructuring and promote technological progress by vigorously developing high-value-added industries such as information technology, intelligent manufacturing, and 5G, accelerating interdisciplinary development, and promoting industrial integration. Simultaneously, develop high-end manufacturing, produce advanced materials, and vigorously promote the popularization and utilization of clean and renewable energy. Jin believes that achieving the "dual carbon" goal requires disruptive innovation, and Tsinghua University should focus on tackling long-term, cutting-edge scientific and technological challenges to serve the country's macro-level goals.

At the conclusion of the opening ceremony, Ju Jiandong, Ziguang Chair Professor of Finance at Tsinghua University's PBC School of Finance and Director of the Green Finance Development Research Center at Tsinghua University's National Institute of Financial Research, delivered a summary speech. He thanked all the leaders and guests for their support of the forum and shared his thoughts on carbon neutrality from an economic perspective. Ju Jiandong pointed out that carbon neutrality needs to be achieved through a combination of technological, economic, and financial means. From a financial perspective, attention should be paid to two key issues: the carbon market and carbon tax. Ju Jiandong emphasized the latest research findings on carbon tax and analyzed the various aspects of social life that carbon tax may affect.

Following the opening ceremony, the sub-forums commenced, featuring three themes: Carbon Neutrality and Energy Transformation, Financial Support for Carbon Neutrality, and Carbon Neutrality and New Energy. Guests discussed topics such as carbon neutrality and development pathways, carbon neutrality policies and opportunities, and new developments in new energy.