At the "2026 Fifth Climate Investment and Financing International Seminar" held in Beijing from April 29-30 under the theme "New Carbon Finance Landscape, Building a Green Future," Hua Jingdong, Vice Chair of the International Sustainability Standards Board (ISSB), expressed agreement with a statement from a report by the International Institute of Green Finance at the Central University of Finance and Economics. The report noted that the world is not short of capital; rather, the lack of investment in climate change or achieving the Sustainable Development Goals (SDGs) in the Global South stems from capital misallocation, not a shortage of global capital.

Drawing from his experience managing trillions of dollars at the World Bank, Hua stated that by the end of 2024, the total global bond and stock markets had reached $270 trillion. In the same year, the total assets of 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, it is estimated that global available wealth and capital amount to at least over $500 trillion. "Therefore, I strongly agree that the world is not short of wealth; what is lacking is asset allocation that directs capital toward good," Hua emphasized.

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

In response, at the 26th UN Climate Change Conference (COP26), 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 highlighted that creating an independent standard-setting body like the ISSB under the Foundation draws on the global success of International Financial Reporting Standards (IFRS). He analogized, "China's accession to the WTO was akin to granting Chinese enterprises a global 'golden passport,' gaining international recognition in trade. Adopting internationally converged accounting standards and sustainability disclosure standards is like adding a 'golden seal' to that passport, significantly reducing the cross-border operational costs for Chinese companies." The Sustainability Standards Board, established as a sister organization parallel to the Accounting Standards Board, aims to provide high-quality, comparable sustainability-related financial information to capital markets by setting a global baseline.

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

In conclusion, Hua stressed that the ISSB standards, by establishing a globally unified disclosure baseline, provide transparency to capital markets, enabling capital to more effectively support climate financing. This ultimately fosters global collaboration to protect our fragile and precious planet.