At the "2026 Fifth International Conference on Climate Investment and Finance" held in Beijing from April 29-30, with the theme "New Carbon Finance Landscape, Building a Green Future," International Sustainability Standards Board (ISSB) Vice Chair Hua Jingdong expressed agreement with a statement from a Central University of Finance and Economics Green Finance International Institute report. The report stated that the world does not lack capital; the shortfall in climate change investment or funding for Sustainable Development Goals (SDGs) in the Global South is not due to insufficient global capital but rather to its misallocation.

Drawing on his experience managing trillions of dollars in funds at the World Bank, Hua noted that by the end of 2024, the total global bond and stock markets reached $270 trillion. In the same year, assets held by global financial institutions—including commercial banks, central banks, insurance companies, and non-bank financial institutions—exceeded $500 trillion, bringing the combined total to $770 trillion. After accounting for statistical overlaps, global available wealth and capital are estimated to be at least over $500 trillion. Therefore, he strongly agrees that the world does not lack wealth but lacks asset allocation that channels capital toward virtuous purposes.

Hua reflected on the pivotal year of 2015 when the United Nations introduced the Sustainable Development Goals (SDGs) and adopted the Paris Agreement, noting their close interconnection. He pointed out that at least 10 of the 17 SDGs—ranging from poverty reduction, oceans, and clean water to land—are directly related to climate change. However, over the past two decades, a proliferation of sustainability disclosure standards from various industries, nations, and international multilateral organizations, though well-intentioned, has left investors confused about which standards to adopt.

In response, at the 26th UN Climate Change Conference (COP26), and with strong support from the G20, the World Bank, and the International Monetary Fund (IMF), the IFRS Foundation announced the establishment of the International Sustainability Standards Board (ISSB). Hua specifically mentioned that creating ISSB as an independent standard-setting body under the Foundation drew inspiration from the global success of International Financial Reporting Standards. He illustrated this by saying, "China's accession to the WTO was akin to granting Chinese enterprises a global 'golden passport,' gaining international recognition in trade. Adopting accounting and sustainability disclosure standards aligned with global norms is like adding a 'golden stamp' to that passport, significantly reducing the costs for Chinese companies operating across borders." The Sustainability Standards Board, established as a sister organization parallel to the Accounting Standards Board, aims to provide high-quality, consistent, and comparable sustainability-related financial information to global capital markets by setting a worldwide baseline.

China has consistently played a leading role in the global sustainability disclosure field. In December 2024, the "Corporate Sustainability Disclosure Standards—Basic Standard (Trial)" was officially released, marking a significant milestone and initiating the development of a nationally unified sustainability disclosure framework. By December 2025, the "Corporate Sustainability Disclosure Standard No. 1—Climate (Trial)," formulated by the Ministry of Finance in collaboration with ten other ministries, was issued. At the "2026 Beijing International Sustainability Conference" hosted by the IFRS Foundation on April 23, ISSB Chair Emmanuel Faber stated, "I commend China for actively promoting the development of a sustainability disclosure ecosystem that aligns with the ISSB global baseline while reflecting local realities. This not only enhances transparency in China's capital markets but also supports Chinese enterprises in participating more efficiently in global trade, investment, and financing activities."

In conclusion, Hua Jingdong emphasized that ISSB standards enhance capital market transparency by establishing a unified global disclosure baseline. This enables capital to more effectively support climate financing, ultimately fostering global collaboration to protect our fragile and valuable planet.