INTERNATIONAL INSTITUTE OF GREEN FINANCE, CUFE
Chinese Version

These 50-year-old experts, won by what G20 green gold consensus?

Time:2017-09-18 From: Author:

On the morning of November 8, 2016, a delegation from the Central University of Finance and Economics Institute of Green Finance visited Britain to visit the Bank of England's Bank of England and met with Michael Sheren, Senior Adviser of the Prudential Regulation Authority. The resolution passed by the previous Institute Council, Mr. Michael Sheren chaired the academic committee co-chair.

 

Mr. Michael Sheren is an accomplished student with a Masters degree from Harvard University, London School of Economics and New York University, majoring in finance, economics, philosophy and public policy.

 

Prior to assuming the Bank of England, Michael Sheren spent nearly 30 years in the financial services industry in London and New York. As a senior manager, he has extensive experience in the capital markets in areas such as leveraged buyouts, mergers and acquisitions, commercial real estate, distressed debt and emerging markets. In the meantime, Michael Sheren has built and maintained good relationships with investors, senior government officials in all fields of the financial services industry.

 

Mr. Michael Sheren made outstanding contributions to the development of global green finance. In 2016, on behalf of the Bank of England, he co-chaired the G20 Green Finance Research Group with Ma Jun, chief economist of the Research Bureau of the People's Bank of China, and successfully promoted the inclusion of a green finance issue in the communiqué.

 

As the green finance issue shines at this year's G20 summit, the world pays more attention to the future direction of this important industry. Recent news shows that the G20 summit in Hamburg will continue to introduce green finance issues, the central banks of China and Britain will still lead the G20 green finance research group.


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And one reason, as the G20 next year, the German government made the following statement:

 

On October 7, 2016, Ludger Schuknecht, chief economist and head of the G20, the German Ministry of Finance, announced that Germany will continue to discuss green finance issues during the G20 presidency in 2017 given the active support of all parties on the issue. In view of the achievements made by the G20 green finance research group in promoting green finance consensus this year, the People's Bank of China and the Bank of England will continue to co-chair the research group.

 

It is not easy to achieve such an achievement. In an interview with the media earlier, Michael Sheren said that it is not easy for G20 countries to reach consensus and achieve results in the field of green finance this year. He disclosed that at the outset many representatives of the working group believed that the "ambition" between China and Britain that jointly led the working group was "too big." He, P People's Bank of China Jun Ma, Simon Zadek, Head of Sustainable Financial Programs at UNEP and UNEP Secretariat of the Study Group, spent an overnight effort to bring countries together by appealing to all parties consensus……

 

Sheren once told the media that I am 50 or so this year, Ma Jun is more than 50, and Xie Mengzhe is almost 60. The three of us took note of where each member liked and disagreed, boiled over all night, and completely reworked the working group's reference. When other members of the Working Party sit back on the negotiating table the next day, there is a new document in front of everyone, which is reflected in what everyone has expressed.

 

For work within the G20, Sheren said, many times people spend an entire year arguing about the reference. We did not expect everyone to say "okay, no problem." When they challenge us, we make the appropriate adjustments if we can not convince them. At the same time, we are also aware of what we are ultimately trying to achieve and do our best to bring the two together.

 

For this reason, we did not spend a week, not three days, but one overnight. I think it is also our sincerity that has touched other countries' representatives. (Summary)

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