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China Global Advisory launch the Global Clearing Platform for Green Economy Projects

BEIJING, China -- China Global Advisory (CGA) launched the CGA Global Clearing Platform for Green Economy Projects at the April 25 2023 Executive Round Table on Investments and Partnerships hosted by CGA at the Beijing Capital Club.

Attending the meeting included ambassadors from eight countries including the President of China Chamber of Commerce for Machineries & Electronics (CCCME), (the largest trade association of China representing over 17,000 companies with an annual turnover in 2022 of over 1 trillion USD), senior executives of ten of the largest State- Owned Enterprises of China, together with many noted diplomats, government officials and business leaders.

Mr. Paul Lam, Chairman and CEO of China Global Advisory (CGA)

Mr. Paul Lam, Chairman and CEO of CGA stated that:

All the recent United Nations studies point out that as a world, we as human race must work together to accelerate our efforts to keep our earth healthy for us and our future generations. As much as we all love our children, we must also love the air they breathe. The impact of global warming is already evident and it is not a science fiction of the future.

China Global Advisory is pleased to launch our Global Clearing Platform for Green Economy Projects bringing the 3 pillars of excellence required to promote our global sustainability efforts. These 3 pillars include: Projects, Implementation Companies, and Finance. The 6 major industries covered by Green Economy include: Renewable energy, Agriculture, Manufacturing, Fisheries, Forests, and Tourism.

Within this room together, we have Ambassadors representing countries with strong projects for Green Economy, we have companies with implementation experience and technology for many green sectors, and financial institutions to support these projects. I am excited that all 3 pillars are present in this room. Given that we have limited time today, our objectives are to create a network of relationships with follow up meetings to activate and take action to move forward with selected projects. China Global Advisory serve as a Global Clearing Platform for funding these projects around the world and matching the right companies to support the green projects. Our funding will come from Green Private Equity Funds and we are working closely with the Luxembourg Sustainable Financial Platform to issue Green Bonds as well as the Switzerland Sustainable Platform.

CGA also strongly believe there is much value to bring companies from different countries to work together on a project. At the same time, we also need to involve strong local companies in the project country as our local partner as they better understand what to do, and what not to do locally. We will promote and help companies to follow the global protocol of ESG to address Environmental Social and Governance issues. This is now becoming a critical competitive advantage and in order to participate in international projects, it is becoming a must.

Through our recent partnership with Adecco, the world’s largest human resource and training company, with an annual revenue of over 20 billion Euro and offices in over 60 countries, we will bring HR and Training support to green projects around the world. This is the Business Ecosystem we have created for the Global Clearing Platform for Green Projects, it includes Projects, Companies & Finance, supported by strong Human Resources and ESG protocol.

Mr. Zhang YuJing, President of China Chamber of Commerce for Machinery & Electronics (CCCME)

Mr. Zhang YuJing, President of CCCME

Mr. Zhang stated that responding to climate change and promoting green transformation to achieve carbon neutrality is a common task and challenge for the world. To achieve carbon neutrality on schedule not only requires the government to establish guiding policies to formulate policies, but also requires companies to take active actions, and industry organizations need to integrate resources to build platforms.

As a national industry organization covering the entire industrial chain of the manufacturing industry, CCCME has always been committed to promoting the coordinated development of Chinese and foreign companies. Immediately after President Xi Jinping put forward the dual-carbon goal in 2020, CCCME immediately started overall deployment and positive actions. We built platforms, connected people, built bridges, and practiced internal skills. While helping enterprises transform their development paths, CCCME also actively strengthened Sino-foreign cooperation and promoted green transformation of the industry.

CCCME is willing to give full support to the professional advantages of the Chamber of Commerce's expert committee and cooperate with embassies of various countries in China to jointly promote the implementation and sustainable development of member companies' projects in various countries. CCCME will actively play the role of a bridge and a platform in the future.

Ambassador Fernando Lugris of Uruguay

Ambassador Lugris stated that Uruguay has invested a lot of effort in transforming its energy structure and promoting the development of clean energy. At present, hydropower accounts for 44% of the energy structure, and its production capacity is close to saturation. However, there are still some small hydropower projects used for agricultural irrigation. In the coming years, Uruguay's national investment focus will be on green hydrogen, wind energy, solar energy, and biomass energy. It will issue green bonds, hoping to transform from a clean energy importing country to an exporting country. At the same time, it will further reduce the cost of wind power, enhance its feasibility, and hope to leverage the development of the renewable energy industry through wind power to promote economic growth. Currently, 18% of Uruguay's energy comes from biomass energy, which provides another possibility for Uruguay's electricity exports. Uruguay will also actively promote the layout of green hydrogen energy, expand hydrogen energy in more regions, and develop a roadmap for the development of green hydrogen energy. Uruguay hopes to achieve a production capacity of 400000 tons by 2025. Last April, Uruguay launched a pilot project for green hydrogen energy, welcoming investors from all countries to participate together. In addition, Ambassador Lugris stated that agriculture and tourism are the pillar industries of Uruguay. Uruguay attaches great importance to the construction of a sustainable agricultural system and the development of green tourism, and looks forward to further cooperation with Chinese enterprises in these fields. We will share our project details through China Global Advisory.

Ambassador Djauhari Oratmangun of Indonesia

China and Indonesia are comprehensive strategic partner and currently have many key cooperation projects. Indonesia is the engine of development in Southeast Asia, with a population of 280 million and the most diversified archipelago country. Its GDP has approached $1.33 trillion, and its economic growth is expected to be 4.5% -5.3% this year, with middle income accounting for 40% and over 100 million people. Ambassador Oratmangun stated that Indonesia has been committed to developing the digital economy in recent years and is establishing a national data center to strengthen the digital economy ecosystem. It has become the largest digital economy country in ASEAN, and the digital economy will help Indonesia achieve sustainable development goals. The three major development priorities in the future are: new energy, digital transformation and health infrastructure. Indonesia still has great potential in the field of renewable energy (170GW), but to achieve net zero emissions and digital transformation, it needs to continue to develop infrastructure, technology and financing. It hopes to strengthen cooperation with Chinese enterprises in these fields, attract more investment, help Indonesia quickly achieve the above goals, and transform its primary industry into a more value-added and export-oriented industry as soon as possible.

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Ambassador Carlos Larrea of Ecuador

Bilateral trade has exceeded 13 billion US dollars, and China is Ecuador's largest trading partner. Ecuador is rich in natural resources, biodiversity, mining potential, solar and hydropower resources, and the use of a US dollar settlement system is very attractive to investors. Ecuador is located at the northeast end of South America and can serve as a logistics center, entering East Asia, Latin America, and the west coast of the United States.

Ecuador's modern infrastructure and road system are constantly expanding, many of which are projects jointly participated by Chinese investment investors. Currently, more than 100 Chinese companies are conducting business activities in Ecuador, covering areas such as power generation, public infrastructure, and renewable energy. Ecuador launched the "Zero Carbon Development Plan" in May 2021, hoping to promote carbon neutrality and carbon emission reduction through quantitative indicators, achieve 30% emission reduction by 2025, achieve sustainable development in production and consumption, reduce the carbon footprint of all productive activities through environmental protection, performance and other related evaluation mechanisms, and improve the competitiveness of enterprises and products in all aspects of import and export. Ambassador Larrea believes that green transformation cannot be achieved without policy support and industry synergy, and should promote the coordinated development of various industries such as agriculture, fisheries, green energy, green transportation, and green buildings. At the same time, Ecuador hopes to attract more investment and promote new growth points through low-carbon transformation. Currently, a financial mechanism for carbon emission reduction is being developed, and it is expected to launch a series of investment and low-carbon emission reduction project lists in May next year. Chinese investors are welcome to seize the opportunity.

Ambassador Rafael Dezcaller of Spain

Spain aims to achieve 55% reduction in emissions by 2030, 74% of its electricity comes from renewable sources, and 100% renewable power generation by 2050. Spain attaches great importance to the role of renewable energy in energy transformation. The renewable energy generation rate has increased from 32% in 2017 to 47%, making it one of the countries with the highest proportion of wind and renewable energy in the world. Spain's green hydrogen energy accounts for 20%, second only to the United States. Currently, some Spanish companies are establishing joint ventures with Chinese partners to promote the construction of renewable energy projects. A series of funds under the economic recovery and transformation plan will be injected into the fields of renewable energy and green hydrogen, mainly using the PPP model to encourage the private sector to become a catalyst for transformation. Ambassador Dezcaller stated that China and the West should strengthen cooperation in the industrial and value chains of wind power, automotive and other industries. Spanish machine tool companies can provide wind turbines and wind power tower equipment to Chinese enterprises, and Chinese enterprises can establish wind power production bases in Spain, which can help Spain achieve green transformation. Spain is the second largest automobile producing country in Europe, and the development of electric vehicles is crucial for Spain and has created many opportunities between the two countries. China has set an example in the field of new energy vehicles. China's green electric vehicles use advanced battery technology, and Chinese enterprises' investment in Europe in this field can help accelerate the electrification process of the European Union and the development of Spain's electric vehicle industry. At the same time, Spanish automotive parts companies can provide corresponding accessories to Chinese enterprises. Chinese enterprises are welcome to invest and build factories in Spain to strengthen cooperation between the upstream and downstream industries of the two countries.

Ambassador Dario Mihelin of Croatia

Croatia is an important node country of the "the Belt and Road" and a leader in global green policies. It hopes to achieve 39% of energy from renewable energy sources by 2023, build 5500 MW of new installed capacity, and achieve carbon neutrality by 2050. In recent years, Croatia has launched various strategies to promote the transformation of green energy. The per capita carbon footprint of Croatia is the lowest in the EU, with 93% of certified forests able to absorb carbon dioxide, and the per capita forest carbon sink is also twice the EU level.

Croatia welcomes Chinese investors to invest and hopes that Chinese companies can utilize Croatia's carbon sinks. Croatia hopes to become a model of marine conservation, and by 2030, it will protect 30% of the Adriatic Sea. To this end, it will increase investment in waste management and circular economy. Croatia also promotes the construction of sustainable tourism and accommodation facilities, and has green certified food production. Ambassador Mihelin emphasized that Croatia currently supplies 29% of its energy through hydropower, which has great potential for development in renewable energy such as wind power, solar energy, and geothermal energy. At the same time, it is jointly developing hydrogen projects in the North Asian Sea with Slovenia and Italy. By 2030, the proportion of renewable energy sources such as wind, solar, and biomass will reach 65%, requiring at least 5500 megawatts of new installed capacity. In the field of transportation, Croatia plans to invest 4 billion euros in the next decade to achieve railway modernization. By 2030, it will introduce battery powered trains to replace diesel powered trains. In this process, advanced fuel technology and upgrading of existing infrastructure are urgently needed.

Ambassador Hussam AL Husseini of Jordan

Green development is crucial for Jordan. Jordan is currently facing problems such as energy scarcity and water energy shortage, and needs to reduce its dependence on fossil fuel oil and gas. Therefore, Jordan firmly promotes the implementation of renewable energy policies and energy transformation, strengthens green infrastructure, and reduces energy dependence. Jordan has launched an energy industry transformation plan for green development (2021-2025) and a national climate change plan (until 2050), aiming to increase the renewable energy structure to 40% by 2030, while leveraging and activating green energy supporting services, expanding employment, and establishing financing institutions and investment funds for renewable energy. The desert in southern Jordan has clean air, good sunlight, and good conditions for solar power generation. The southern region is rich in silicon mineral resources. We welcome the Chinese optoelectronic industry to come and inspect and invest. In addition, Jordan also hopes to vigorously develop wind energy, and desalination of the Red Sea is a national key project aimed at providing power to the southern region through desalination of seawater. Tourism is Jordan's second largest industry and is currently promoting green ecotourism policies; The electronic information and communication industry and the digital economy are currently the fastest-growing industries in Jordan. At the same time, Jordan is an important gateway to Asia, Africa and Europe, as well as the junction of the "the Belt and Road" on land and at sea. In the future, it will increase the construction of warehousing, logistics and transportation bases.

Ambassador Marcos Galvao of Brazil

Brazil has now taken proactive measures to address climate change. 40% of Brazil's energy consumption is renewable energy, and 82% of its electricity generation comes from renewable energy. Brazil is a major agricultural country, with 30% of carbon emissions coming from land. The low-carbon policy in agriculture is expected to reduce emissions by 1.1 billion tons by 2023. As two of the world’s largest developing countries, China and Brazil have their own problems that need to be addressed in the green transformation, such as urban pollution in China and biodiversity in Brazil. Solving these problems requires us to use more renewable energy, and this process also nurtures more opportunities for cooperation between China and Brazil. Ambassador Galvao stated that China's technology and capital have played a very important role in Brazil's green transformation process. More than 45% of Chinese investment flows into the renewable energy sector, and Chinese enterprises have invested in ports, hydrogen energy, wind power, electric vehicles, batteries, and other fields. These projects have led to a more green direction for cooperation between China and Brazil.

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Ambassador Marc Hubsch of Luxembourg (By Video)

Mr. Lam, your vision of creating a Global Clearing Platform for Green Projects around the globe is indeed exciting and your leadership is clearly evidenced with over ten Ambassadors attending your April 25 2023 round table, together the President of such an important organization such as CCCME and many SOE’s top executives. As you have so well stated, in order to make success with green economy projects, we need three key pillars of excellence, Project Deal Flow, Implementation Companies (with the experience and technology), and Finance.

As one of Europe’s leading international financial centers, Luxembourg is today recognized as an ideal platform to assist companies, government and investors around the world to meet their sustainable commitments. The Luxembourg Green Exchange (LGX) has a leading global market share in green, social, and sustainable bonds listed worldwide. LGX is the world’s first platform dedicated exclusively to sustainable securities. Luxembourg is the European leader in sustainable investment funds, accounting for 34% of domiciled funds which represents 32% of all assets under management in European sustainable funds, and amounts to Euro 371 bn at the end of 2020. Luxembourg also captured 44% of total net new sustainable investments made across all European domiciles in 2020. We are home to the European Investment Bank (EIB), the world’s largest green lender and an expert in public-private investment projects. With over 500 Green Investment Asset Managers based in Luxembourg, we are indeed the world financial center for green funding through green bonds, private equity as well as social responsibility bonds.

With this as a setting, Luxembourg and China Global Advisory share the same vision and on behalf of Luxembourg, we are most excited to partner with Global Capital Advisory to work together to help fund the green projects around the world.

Madame Liu Chun introduced each of the ten leading Chinese State-Owned Enterprises and their senior executives. Each executive gave a brief description of their company’s strategy and business in green economy. Discussions between the senior executives and the ambassadors were most constructive.

China Chamber of Commerce for Machinery & Electronics Madame Liu Chun, Vice President

China National Machinery Industry Corporation中国机械工业集团有限公司Mr. Li Xiao Yu, Deputy General Manager副总经理黎晓煜

CRRC Corporation Limited中国中车股份有限公司Mr. Ning Wenze, Assistant President总裁助理宁文泽

China Energy International Group Co. Ltd (Energy Chin) 中能建国际建设集团有限公司Mr. Qiao Xubin, President总经理乔旭斌

China Nonferrous Metal Industry’s Foreign Engineering & Construction Co., Ltd

中国有色金属建设股份有限公司

Mr. Qin Junman, President 总经理秦军满

China Electric Power Equipment & Technology Co. Ltd. 中国电力技术装备有限公司Mr. Yu Jun, President总经理余军

Power China International Group中国电建集团国际工程有限公司Mr. Liang Jun, Vice President副总经理梁军

CETC International Co. Ltd. 中电科国际贸易有限公司Mr. Wang Qiang, Chairman董事长王强

China National Chemical Engineering Co. Ltd. 中国化学工程公司

Mr. Cai Xiangyang, Director of Overseas Department海外业务部部长蔡向阳

CITIC Construction Co. Ltd. 中信建设有限责任公司

Deputy General Manager of Latin America Division拉美区事业部总经理佟天兵

China State Construction Engineering Corp. Ltd. 中国建筑股份有限公司国际工程分公司

Mr. Yuan Xiaojun, Deputy General Manager of the Marketing Department

市场部副总经理袁晓军

Closing Remarks:

Madame Liu Chun, Vice President of CCCME:

Today, China Global Advisory has launched a global green project matching platform. Prior to today’s meeting, CCCME and Mr. Lam discussed our close cooperation to make best use of this important platform. Today’s roundtable meeting is just a new starting point for the cooperation between the CCCME and China Global Advisory. Next, I hope that China Global Advisory will present each country’s green development plans, especially the specific directions, roadmaps and timetables for the development of photovoltaics, wind energy, energy storage, and green hydrogen, to CCCME. CCCME will then identify member companies who are interested and capable to invest and build the project.

CCCME is in support of the Global Green Project Matching Platform. The project matching platform is actually to make a precise connection between the specific green projects in the host country and the company in which the country is located. We also talked about this issue with Mr. Lam on how to make good use of this Global Green Projects Matching Platform as Mr. Lam has many resources and channels, including financing. Mr. Lam, through the platform of the chamber of commerce, can cooperate and realize many green projects around the world.

Mr. Paul Lam, Chairman & CEO of China Global Advisory (CGA):

As you can see, within our room today, we have leaders from all 3 pillars, Projects, Companies, and Finance. China Global Advisory is excited to work closely with CCCME in using our Global Clearing Platform for Green Projects. CGA will bring Projects from around the world by working with the ambassadors and their staffs, work closely with CCCME to identify companies that are qualified and eager to invest and build these projects, as well as provide financing from our own PE Fund Network as well as work closely with Luxembourg’s Sustainable Financial Platform to issue green bonds and access Green PE Funds. We look forward to partnering with you all. Thank You for joining us today.

For further information, please email: Executive.Offices@ChinaGlobalCapital.com

Visit us at www.ChinaGlobalAdvisory.com

Group Photo of Attendees of the April 25 2023 Launch of the China Global Advisory Global Clearing Platform for Green Economy Projects