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BEIJING, June 5, 2022 /PRNewswire=KYODO JBN/--

The International Finance Forum (IFF) will start accepting applications for the

annual IFF Global Green Finance Award, from June 5, which is also the World

Environment Day.

Echoing the theme of World Environment Day ,"Only One Earth", which stresses

on  the need to change through policy changes and our choices to live in

harmony with nature in a sustainable way, the IFF Global Green Finance Award is

targeting  applicants offering green financial solutions that promote the

transformation of economic growth modes, contribute to pollution prevention and

control and address climate change, as well as improve energy efficiency,

energy conservation and emission reductions. This year's award is a global call

for innovations and application practices in policy, system, industry,

services, technology and talent building.

The Earth is our only home, and we must protect its limited resources.

Unsustainable consumption and production are contributing to climate change,

natural degradation and biodiversity loss, as well as pollution and waste

crisis. All of these issues intersect and overlap, seriously jeopardizing the

future of the planet.

Natural resources are the basis for most goods, services and facilities, and

the foundation that supports our economy. However, the linear

"take-make-dispose" model is driving the global economy while consuming vast

amounts of natural resources. Nature is in the "emergency mode" and we have

little time left.

To limit global warming to 1.5°C this century, we must ensure that annual

global greenhouse gas emissions are cut in half by 2030. However, due to the

ongoing impact of the COVID-19 pandemic over the past three years and the

recent intense geopolitical turmoil in the world, economies around the globe

are sliding to the brink of economic and energy crises. We must take urgent

action to address the looming crisis. However, all these require strong

financial support.

Faced with the dual challenges of climate change and global economic crisis,

green finance has become strong tool that countries around the world are

striving to promote. Many pioneering practices and attempts have been made in

terms of policies, systems, industries, and human resources development. It is

crucial to promote these successful best practices globally and accelerate the

popularization of green finance in order to promote green growth and

sustainable development.

The IFF Global Green Finance Award was launched by the IFF in 2020, and is

judged by a panel of 25 globally influential and authoritative financial

leaders and elites from the financial and environmental sectors. In 2022, the

award will include 10 Innovation Awards for innovative projects and 10 Annual

Awards for institutions.

Annual Awards for Institutions are granted to institutions that have made

outstanding contributions to global, regional or national sustainable

development through green finance practices, including achieving carbon peak

and carbon neutrality, addressing climate change and biodiversity conservation.

The green finance business of the institutions must be sustainable and

profitable.

Innovation Awards for Innovative Projects are granted to projects that

demonstrate significant innovation in the field of green finance, in particular

those that have made significant contributions to achieving carbon peak and

carbon neutrality, addressing climate change and promoting biodiversity

conservation.

Any institution that carries out activities which foster green finance

development and produce real benefits are eligible to apply for the Awards,

including public, private and non-profit organizations.

"Finance is a resilient and effective tool to foster sustainable development,

and green finance is going to play an increasingly important role. The winners

of 'the IFF Global Green Finance Innovation Award' are pioneers, initiators and

advocators of green and low-carbon industries. They guide the flow of green

investments to the sustainable development sector," said Han Seung-soo,

chairman of the Jury Committee, IFF co-chairman, the 56th president of UN

General Assembly and former prime minister of Republic of Korea.

"'The IFF Global Green Finance Innovation Award' will continue to push forward

the development of green finance and support a sustainable world with shared

benefits for the mankind."

The IFF has been highly praised by the United Nations and several

international organizations and widely recognized for its important role in

promoting the practice of green and sustainable development by financial

institutions. In the annual reports and CSR reports disclosed by Chinese

financial institutions in 2022, Bank of China, China Securities, Postal Savings

Bank of China, Industrial and Commercial Bank of China, Bank of Qingdao,

Industrial Bank and Huaxia Bank, among others, have announced the award to the

public as an important achievement in strictly fulfilling their social

responsibility and vigorously developing green finance. In addition to

promoting the practice of green finance by financial institutions, the IFF

Global Green Finance Award also plays an active role in helping local

governments to implement the dual carbon goals.

The International Finance Forum (IFF) is an independent, non-profit,

non-governmental international organization founded in Beijing in October 2003,

and established by financial leaders from G20 countries, emerging markets and

international organizations including China, the United States, the European

Union and the United Nations, the World Bank and the IMF. IFF is a

long-standing, high-level platform for dialogue and communication, as well as a

research network in the financial realm, and has been upgraded to F20 (Finance

20) status.

SOURCE:  International Finance Forum (IFF)