The United Nations 2030 Agenda for Sustainable Development covers 17 goals, the tenth of which is "Reduced inequalities", namely: Reduce inequality within and among countries. 

Under this major goal, there are ten targets, the fifth of which is "Improve the regulation and monitoring of global financial markets and institutions and strengthen the implementation of such regulations".

● Current Situation

About the World

Global Regulatory Policies Adjusted 

Photo source: finance.sina.com.cn

In 2021, the economies of various countries will recover, the scale of the global banking industry will grow steadily, and the profitability will recover rapidly. In the post epidemic period, global regulatory policies have been adjusted, and the banking industry urgently needs to build a growth engine to ensure stable and sound operation. Carbon finance, Inclusive Finance and pension finance may become important areas of innovation.

Text source: Global Banking Outlook Report

About China

Global Influence of Financial Technology 

Photo source: sohu.com

In recent years, the rapid rise of China's financial technology has shown strong competitiveness in the global market and become the highlight and even leader of the financial industry in the global market. As China's One Belt, One Road Initiative continues to advance, China's financial technology industry has also become an important practitioner, changing the economic life of millions of people, especially China's economic growth and poverty reduction, and is expected to extend this experience to more countries and regions, and use advanced technology to improve financial services in more developing countries.

Text source: Economic Review

●  Cases

About the World

IMF Rapidly Scaled Up Its Work on Climate

Climaterelated risks are also being integrated into stress testing and financial stability monitoring as part of the IMF–World Bank Financial Sector Assessment Program. The IMF has rapidly scaled up its work to integrate climate considerations into the public financial management cycle (“green budgeting”) and into infrastructure governance. 

Photo source: imf.gov

To help close data gaps, the IMF is supporting efforts to spread further the adoption of climate disclosure across markets. In collaboration with other international organizations, country authorities, and private data providers, the IMF also recently launched a Climate Change Indicators Dashboard, leveraging the IMF’s leadership in statistical methodology. The dashboard delivers a standardized set of comparable cross-country data and makes climate change indicators available sooner and with greater frequency.

Text source: IMF Annual Report 2021

About China 

Shenzhen Builiding A Good Ecological Environment for Green Finance

Since 2021, the People's Bank of Shenzhen, together with Shenzhen Ecological Environment Bureau and local governments, has taken the special actions of "connecting government, banks and companies with green finance in all areas". Led by the Bank, the commercial banks had contacts with companies of green financing needs and low-carbon projects and promoted more accurate and effective financial connection between green enterprises and projects.

Photo source: sohu.com

The People's Bank of Shenzhen widely participated in making China's first green finance law and regulation, the regulations on green finance of Shenzhen Special Economic Zone and the implementation of the regulations. The Bank organized and held the green finance work conference of banking financial institutions within the jurisdiction of Shenzhen, conveyed the green finance work requirements of the head office of the People's Bank of China, deployed the green finance work of the whole city, and ensure dthe smooth progress of relevant work.

Text source: greenfinance.org.cn

●  Background

Sustainable Development Goals (SDGs) Initiated by the United Nations

On 1 January, 2016, the 17 Sustainable Development Goals (SDGs), including 169 targets, of the 2030 Agenda for Sustainable Development — adopted by world leaders in September 2015 at an historic UN Summit — officially came into force. Countries will mobilize efforts to end all forms of poverty, fight inequalities and tackle climate change, while ensuring that no one is left behind.