On April 27, 2024, the Fifth Carbon Neutrality and Climate Finance Forum themed Climate Risk and Financial Power successfully took place at Zhongnan University of Economics and Law. The forum was co-hosted by the Energy Finance Committee of the International Society for Energy Transition Studies (ISETS) and the Climate Finance Research Subcommittee of the China Society for Optimization, Overall Planning, and Economic Mathematics, organized by the School of Finance at Zhongnan University of Economics and Law, and supported by various research centers and institutions.Experts and scholars from numerous universities and institutions, including the Chinese Academy of Sciences, the University of Chinese Academy of Sciences, Southwestern University of Finance and Economics, Wuhan University, Xiamen University, Macquarie University (Australia), Beijing University of Aeronautics and Astronautics, Macau University of Science and Technology, Central South University, Lanzhou University, Central University of Finance and Economics, China University of Mining and Technology, Hubei University, Jiangxi University of Finance and Economics, Wuhan University of Technology, and Zhongnan University of Economics and Law, gathered by Nanhu Lake to discuss climate risk issues under the strategy of financial power and share the latest research findings.

The forum officially opened at 9:00 AM on April 27. Professor Wang Ping, a member of the Party Committee of Zhongnan University of Economics and Law and Secretary of the Party Committee of the School of Finance, delivered a welcoming speech on behalf of the organizers, extending a warm welcome to the experts and scholars from various universities and institutions and expressing good wishes for the success of the forum. Professor Zhang Dayong from Southwestern University of Finance and Economics, Chairman of the Climate Finance Research Subcommittee of the China Society for Optimization, Overall Planning, and Economic Mathematics, also delivered a speech, providing an introduction to the Energy Finance Committee of the International Society for Energy Transition Studies (ISETS), the Climate Finance Research Subcommittee of the China Society for Optimization, Overall Planning, and Economic Mathematics, the Global Climate Risk Big Data Integration Platform, and the Journal of Climate Finance, and pointing out key areas and major research questions in climate finance. Professor Xiang Min, Deputy Secretary of the Party Committee and Secretary of the Discipline Inspection Commission of the School of Finance at Zhongnan University of Economics and Law, presided over the opening ceremony.

Professor Wang Ping's Address

Professor Zhang Dayong's Address

Keynote Speeches

During the keynote speech session, Professor Wang Hongling, Vice Chairman of the Hubei Provincial Committee of the Chinese People's Political Consultative Conference, Chairman of the Hubei Provincial Committee of the China Democratic League, and Professor at Hubei University, delivered a keynote report titled Research on Carbon Finance and Agricultural Carbon Reduction and Carbon Trading. She highlighted that China faces a short timeline and heavy tasks for achieving carbon neutrality, with agriculture being a crucial area for achieving the dual carbon goals. Professor Wang discussed agricultural carbon reduction technologies, pathways for agricultural carbon trading, and current issues in agricultural carbon trading, emphasizing the need to further promote the integration of financial activities and the carbon market, especially the role of carbon finance in agricultural and rural carbon reduction and the realization of ecological product value. Professor Song Qinghua from Zhongnan University of Economics and Law presided over the keynote speech session.

Professor Song Qinghua Presides Over the Keynote Session

Professor Wang Hongling Delivers the Keynote Report

Invited Reports

During the invited reports session, Professor Tom Smith from Macquarie University (Australia) delivered a report titled Carbon Bubbles and Stranded Assets in Financial Markets, finding that the remaining asset value is close to market prices and that the prospects of carbon bubbles are exaggerated. Professor Chen Guojin from Xiamen University presented a report titled Climate Disaster Risk, Climate Adaptation Investment, and Macroeconomic Policy Regulation, improving the general disaster risk model to a climate disaster risk model and analyzing the macroeconomic impact of climate risk and the effects of climate adaptation investment on climate risk shocks. Researcher Sun Xiaolei from the Science and Technology Strategic Consulting Institute of the Chinese Academy of Sciences delivered a report titled Heterogeneous Analysis of the Impact of Extreme Climate Events on Energy Markets, examining the impact of climate events such as wildfires, storms, floods, and extreme temperatures on the natural gas market and their driving factors. Professor Yang Mian from Wuhan University presented a report titled Does Ultra-High Voltage Transmission Lead to Regional Carbon Transfer? Empirical Evidence from China's Energy-Rich Areas, finding that while ultra-high voltage transmission significantly promotes economic growth in energy-rich areas, it does not significantly increase carbon dioxide emissions and significantly reduces carbon dioxide emission intensity. Professors Shi Jin and Zhang Jinlin from Zhongnan University of Economics and Law presided over this session.

Professor Shi Jin Presides Over the Invited Report Session

Professor Zhang Jinlin Presides Over the Invited Report Session

Professor Tom Smith Delivers a Report

Professor Chen Guojin Delivers a Report

Researcher Sun Xiaolei Delivers a Report

Professor Yang Mian Delivers a Report

The forum received over 80 submissions, with 17 papers selected for presentation. On the afternoon of April 27, two parallel sessions were held.

Parallel Session 1

In Parallel Session 1, Dr. Ma Yanran from the Science and Technology Strategic Consulting Institute of the Chinese Academy of Sciences, Assistant Professor Jin Yi from Macau University of Science and Technology, Dr. Liu Zhenhua from China University of Mining and Technology, and Associate Professor Hong Jieying from Beijing University of Aeronautics and Astronautics presented reports on topics such as Bibliometric Analysis of Climate Risk and Financial Markets, The Club Convergence in Green Economy: International Evidence, Media Climate Sentiment and Carbon Market Volatility Prediction: Empirical Evidence from News Text Analysis, and The Salience of Corporate Social Responsibility: Evidence from Air Pollution and Firm Performance. Professors Cheng Shixiong from Hubei University, Zhang Zhenhua from Lanzhou University, Tan Yingxian from Jiangxi University of Finance and Economics, and Dr. Peng Jiachao from Wuhan University of Technology presented reports on Climate Physical Risks and Corporate Equity Financing Costs, The Collaborative Effect of Green Finance Policy on Pollution and Carbon Reduction: A Quasi-Experimental Design, Green Technology Innovation with Environmental Constraints, and Research on Climate Transition Risk Correlation and Risk Transmission in High-Carbon Industries: Analysis Based on High-Dimensional Time-Varying Vector Autoregression Index Model. Researcher Sun Xiaolei from the Science and Technology Strategic Consulting Institute of the Chinese Academy of Sciences and Professor Zhuang Ziguan from Zhongnan University of Economics and Law presided over Parallel Session 1.

Researcher Sun Xiaolei and Professor Zhuang Ziguan Preside Over Parallel Session I

Parallel Session 2

In Parallel Session 2, Li Jingjing from Wuhan University, Zhang Yanning, Zhou Xueqin, and Jiao Linhan from Zhongnan University of Economics and Law presented reports on Can Public Climate Attention Promote the Transformation of Household Energy Consumption Structure, The Impact of Extreme Weather on Sovereign Debt Defaults and a Mitigating Role of China's Belt and Road Initiative, Corporate Carbon Risk and Loan Costs, and Carbon Information Disclosure and Corporate Operating Risks: Based on the Perspective of Informal Environmental Regulation. Cao Zhimin from Zhongnan University of Economics and Law, Ding Saijie from Xiamen University, Huang Ruiling from Southwestern University of Finance and Economics, Hu Juan from China National Nuclear Corporation New Energy Co., Ltd., and Li Hui from Zhongnan University of Economics and Law presented reports on Carbon Emissions Trading Implementation and Firm Risk in China, Green Infrastructure Investment and Climate Resilience, Abnormal Temperature and Institutional Investor Behavior, Prospects for Carbon Reduction Costs under China's Carbon Neutrality Goal: Analysis Based on the PERSEUS Model, and Does Developing Green Finance Boost or Impede Carbon Emissions in the Context of the Dual Carbon Strategy? Evidence from China. Professors Chen Sichong and Gu Lulu from Zhongnan University of Economics and Law presided over Parallel Session 2.

Professors Chen Sichong and Gu Lulu chaired Parallel Session 2

Presentations by Scholars in Parallel Session 2

At the closing ceremony, Deputy Director of the Climate Finance Research Subcommittee of the China Society for Optimization, Overall Planning, and Economic Mathematics and Researcher Ji Qiang from the Science and Technology Strategic Consulting Institute of the Chinese Academy of Sciences delivered the closing report. Researcher Ji expressed sincere gratitude to the organizers and participants, hoping for the further development of climate finance and energy finance disciplines to support China's carbon neutrality goals. Professor Geng Jiangbo from the School of Finance at Zhongnan University of Economics and Law delivered the closing remarks on behalf of the organizers, expressing sincere gratitude to the participants. The Fifth Carbon Neutrality and Climate Finance Forum concluded successfully in a warm atmosphere. During the one-day forum, participants engaged in insightful and innovative presentations and discussions around the theme of Climate Risk and Financial Power, sparking academic ideas and exchanges.

Researcher Ji Qiang Delivered the Closing Report

Group Photo of Participants at the Fifth High-Level Forum on Carbon Neutrality and Climate Finance

(Written by Yang Junqi)