• Speakers at the CEO Dialogue included - Mr. Yu Jianlong, the Vice Chairman of China Council for The Promotion of International Trade (CCPIT) and China Chamber of International Commerce (CCOIC), Chair of SMI China Council; Ms. Jennifer Jordan-Saifi, Chief Executive Officer of the Sustainable Markets Initiative (SMI); and Mr. Rahul Ahluwalia, HM Deputy Trade Commissioner & Minister Counsellor (Financial Services & Investment)

• The four working groups will focus on Energy Transition; Green Finance; Carbon Capture, Utilisation and Storage (CCUS); and Water

26 November 2024, Beijing: The Sustainable Markets Initiative’s China Council has held its 2024 CEO Dialogue as part of the 2 International Supply Chain Expo in Beijing, China, on 26 November 2024. CEOs and senior representatives from the SMI China Council and SMI member companies discussed the need for further international cooperation on sustainable development to tackle climate change. At a special ceremony following the Dialogue, the Council also launched four new working groups to focus on Energy Transition; Green Finance; Carbon Capture, Utilisation and Storage (CCUS); and Water.

Speaking at the event, Mr. Yu Jianlong, Vice Chairman of China Council for The Promotion of International Trade (CCPIT) and China Chamber of International Commerce (CCOIC), and Chair of the SMI China Council, stated that under the strong pressure of addressing climate change, green development has become a characteristic of economic development. He encouraged the member companies of the SMI China Council to strengthen communication and cooperation within the SMI framework and build consensus within the business community.

Ms. Jennifer Jordan-Saifi, Chief Executive Officer of the Sustainable Markets Initiative, emphasised the importance of accelerating the construction of a green and low-carbon supply chain and the role of the SMI as an important multilateral business cooperation mechanism in the field of global climate and environmental governance. The Global Council and the China Council should advance to the concept of win-win cooperation and jointly promote the faster realisation of a sustainable future.

Mr. Rahul Ahluwalia, HM Deputy Trade Commissioner & Minister Counsellor (Financial Services & Investment) at the British Embassy in Beijing said that Chinese and British companies are important participants and contributors in addressing climate change and biodiversity conservation, and a driving force behind global green transformation. He encouraged the members of the SMI Global Council and the SMI China Council to continue to maintain close contact and work together to achieve the global net zero goal.

One of the mechanisms to help drive the global coordination needed to achieve net zero is the formation by the SMI’s China Council of its four new working groups. At the launch ceremony, representatives from each working group gave their remarks on key issues and shared their visions:

The Energy Transition Working Group, led by China Three Gorges International, will be committed to:

1. Promoting a smooth transition to a low-carbon energy transition;

2. Promoting the accelerated development of a clean, low-carbon, safe and efficient energy system;

3. Strengthening the innovation of decarbonisation and emission reduction models in key areas;

4. Facilitating key breakthroughs in research and development of low-carbon emission reduction technologies and their commercial application;

5. Strengthening the role of third-party organisations in empowering businesses to make the energy transition.

The Green Finance Working Group has a vision to:

1. Align with the Paris Agreement goals to drive the finance industry towards sustainable development within the next decade;

2. Support the Just Transition Framework, promoting equitable participation of economic entities and communities in the transition process;

3. Enhance the Transition Finance taxonomy and definition to foster transparency and market trust;

4. Facilitate enterprises' understanding and implementation of international sustainable disclosure standards and gather exemplary practice cases;

5. Explore the application of the Central Bank's carbon reduction special tools in accelerating the zero-carbon transition of high-carbon industries and provide financing support for low-carbon enterprises.

The Carbon Capture, Utilisation and Storage(CCUS) Working Group, led by the Clean Energy Research Institute of China Huaneng Group, plans to create more opportunities for extensive cooperation and conversations in 2025, and expects more active corporate participation in the fields of CCUS. The working group has three key ambitions to:

1. Establish an international platform to promote the development of technological innovation strategies in the CCUS industry;

2. Strengthen the innovation and commercial application of cutting-edge CCUS/CCS technologies in the fields of carbon capture, transportation, utilisation and storage in key industries such as cement, iron and steel, and electric power;

3. Promote the synergy and linkage of government, enterprise, academia and research, and conduct extensive exchanges on CCUS standard formulation, market development and policies and regulations, and form a cross-departmental consensus.

The Water Working Group aims to lead the comprehensive promotion of digital water management technology and explore sustainable development in this field to promote internationalisation and practical cooperation. During the launch ceremony, the China-Australia Smart Water Conservancy Cooperation Agreement was signed to establish a joint venture between Qidi Water Internet, Rubicon TJ, Beijing LGY, and Guoxin Runze.

In addition to the launch of the new working groups, the Health Working Group, launched in November 2023, shared an update on its progress and achievements in pursuit of decarbonising the heath industry. These include:

• The introduction of a China Power Purchase Agreement (PPA) to help pharmaceutical suppliers in China to access green electricity;

• The release of a ‘Toolkit for the Application of Green Innovative Technologies in the Medical and Healthcare Sector’ featuring case studies from Sanofi, Merck, , AstraZeneca, Roche, and Philips; and

• The establishment of a ‘Pharmaceutical Companies' Initiative for the Digitisation of Drug Distribution Materials’, jointly initiated by Alibaba Health, AstraZeneca, Merck, and Novo Nordisk.

For more information about the work of the SMI China Council, visit https://www.sustainable-markets.org/country-councils/china-country-council  

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