GUANGZHOU, China, Dec. 3, 2021 /PRNewswire/ -- International Finance Forum (IFF) today released the Global Finance and Development Report 2021 (GFDR) and Global Green Finance Development Index (GGFDI) along with country rankings.
"This is the first year that IFF is releasing the GFDR report and it will be released annually during IFF global meeting in the future," introduced Zhuang Juzhong, chief economist of IFF and a former deputy chief economist of the Asian Development Bank. "The report aims to provide an annual assessment of global economic trends and prospects, financial development and innovation, and address long-term challenges and policy issues based on cross-country data, and eventually, promote international discussion and cooperation," added Zhuang.
The GFDR consists of three chapters:
Chapter 1: Global economic outlook, risks and policy priorities. This chapter provides the latest updates on the COVID-19 pandemic and recent global economic development, and assesses the economic outlook, risks, and policy priorities. It encourages the global community to work together to speed up the vaccination rollout and eliminate vaccine inequality, ensure a smooth monetary policy transition, end trade tensions, promote green recovery, and support low-income countries.
Chapter 2: Global green finance development index and country rankings. This chapter focuses on recent global developments of green finance and launches GGFDI with country rankings. Jointly developed by IFF and the Central University of Finance and Economics in China, GGFDI applies a quantitative measure of progress in developing green finance at the country level and focuses on three areas: policy and strategy, product and market, and international cooperation. The GGFDI also provides rankings in green finance development of the world's 55 largest economies as of the end of 2020.
Chapter 3: Roadmap to global carbon neutrality and China's actions. This chapter reviews and assesses the measures on transformation of global energy systems and industrial sectors, and policy measures required to achieve the 2°C and 1.5°C climate targets set by the Paris Agreement. It also summarizes China's technical solutions and policy options for achieving dual carbon goals.
With the launch of GFDR and GGFDI, IFF is encouraging more global discussions on policies needed to end the pandemic, reduce risks to the global economic recovery, promote green investment, fight against climate change, and make development more inclusive and sustainable.
For the full report, please visit: http://iff.org.cn/uploads/2021GAM/GFAD-report20211202.pdf
SOURCE International Finance Forum (IFF)