President Ju Weimin Attended the Asian Financial Forum 202211-01-2022
The Asian Financial Forum 2022 took place on January 10, 2022. President Ju Weimin virtually attended the forum and shared his observations on macro investment landscapes in post-pandemic era, sustainable investing practices of institutional investors, and CIC’s sustainable investing policies:
The global economy saw a quick rebound and proved stronger than expected in 2021 thanks to the reopening of economy and the sweeping stimulus plans worldwide. However, after the Omicron variant hit, we saw a surge of new cases worldwide, posing new challenges to COVID-19 control policies and the effectiveness of vaccines, and by extension, continuing to overshadow the economic recovery. This issue affects all of us. To achieve sustainable growth, it is imperative for countries to make extensive structural changes, improve the investment environment, and strengthen international cooperation.
Sovereign wealth funds are a key source of long-term global capital, and have been key players in the stable and robust development of the global financial market. As the global economy continues to recover from the pandemic, large institutional investors such as sovereign wealth funds are placing a greater emphasis on sustainable investment, which holds promise and yet challenges. For example, we currently have many ESG data providers, but the scope of coverage and data quality all vary, making it difficult to select the appropriate dataset. We also have yet to develop a uniform ESG evaluation and rating methodology. In addition, investors need to find a suitable way to participate in order to encourage ESG development in their portfolio companies. Much work remains to be done by both regulators and investors to address these issues.
Since its establishment, CIC has consistently positioned itself as a responsible investor and proactively contributed to sustainable growth worldwide. In 2021, we formulated and released the Sustainable Investment Policy, which shows our determination to promote sustainable development. Going forward, we will continue to explore thematic investment opportunities, better incorporate ESG factors into investment process, and uphold collaboration with various stakeholders. We will leverage our strengths as a sovereign wealth fund, and work with domestic and international partners to support sustainable development of the real economy and sustainable economic growth around the globe.
Established in 2007, the Asian Financial Forum (AFF) is co-hosted by the Hong Kong SAR government and Hong Kong Trade Development Council. Under the theme “Navigating the Next Normal towards a Sustainable Future”, the AFF 2022 brought together global leaders in government, finance and business to exchange insights on a range of topics including ESG & Sustainability, Shaping the Future of Finance: Sustainability, Innovating Insurance to Combat Climate Change, Global Economic Outlook, and the Future of Energy.