Jeffrey D. Sachs

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China on bandwagon of green growth: What's its priority?

Global financial policymakers convened recently for the springtime meetings of the IMF and the World Bank. Ahead of the meetings, the IMF chief urged governments to invest in greener and smarter economies for a post-COVID-19 recovery. With the world moving towards a net-zero future, green finance is poised to be a long-term sustainable solution to climate change. According to the World Bank, it has so far issued over 160 green bonds in 22 currencies, nearly $15 billion, to finance climate-resilient growth. The Asian Infrastructure Investment Bank also set a target of ensuring 50 percent of its overall financing by 2025 will be for green finance. So, what actions can we expect from China? What will it take to shape a resilient recovery that works for people and the planet?