(As prepared for delivery)

Thank you, Madam Cao Li

Vice Chairman Zhou Xiaochuan

Excellencies, distinguished guests, ladies and gentlemen

  1. Good morning. It is my great pleasure to welcome you to this roundtable on Transition Finance for a Net-Zero Future. This year, the ASEAN+3 Macroeconomic Research Office, or AMRO, is honored to co-organize this important event with the Boao Forum for Asia.
  2. On behalf of AMRO, I would like to take this opportunity to express my sincere gratitude to the Boao Forum for Asia for its leadership in promoting regional cooperation. I would also like to thank our distinguished speakers for sharing their expertise and perspectives and all participants for their active engagement in this critical discussion.
  3. Ladies and gentlemen, in the past decade, China and many other economies in the ASEAN+3 region have made significant progress in sustainable development. Yet, the path to net zero remains complex and challenging.
  4. Recent protectionist and divergent sustainable policies have added to the challenge. However, when we consider the future of our planet, we have no choice but to come together to move forward.
  5. Achieving a net-zero future is not just about expanding the green economy. High-emission sectors must also act, and transition finance is key to enabling this shift.
  6. Given our region’s diversity, a one-size-fits-all approach will not work. Instead, we must tailor policies to national circumstances while leveraging our comparative advantages to drive an inclusive transition.
  7. To scale up transition finance, we need to bridge the information gap between regulators and market participants. Developing clear regulatory guidance is critical. Strengthening financial incentives to mobilize investment is another imperative. Promoting regional and global cooperation, including facilitating cross-border resource mobilization and regulation, is also a must.
  8. Ladies and gentlemen, as an international organization committed to maintaining macroeconomic and financial stability in ASEAN+3 region, AMRO firmly believes that while actively addressing the current macroeconomic and financial challenges, we must take a long-term view and actively address the challenges posed by climate change to long-term economic and financial stability. Climate change affects every country, and we must strengthen regional cooperation to make our region a strong community in the fight against climate change while continuing rapid growth.
  9. In recent years, we have integrated climate change issues into our regional and country surveillance framework. We will also strengthen relevant technical assistance with support from China and other member countries. Just yesterday, AMRO, the Boao Forum for Asia Academy, and the CICC Global Institute published a joint report on transition finance in ASEAN+3 region. We look forward to working with partners in the region and beyond to continue to effectively address climate change as a matter of human destiny.
  10. Ladies and Gentlemen, today’s roundtable is a unique opportunity for policymakers and market participants to share perspectives and exchange insights. I look forward to a rich and constructive dialogue. Through our collective efforts, I am confident that we can build a more sustainable, resilient, and prosperous future for Asia. Thank you very much!