Shanghai Action Initiative on Sustainable Energy Transition and Green Investment and Financing

　　August 29, 2024

　　On August 29, 2024, the parallel roundtable “Towards 2030: China-Africa Sustainable Energy Transition and Green Finance” of the “Forum on China-Africa Cooperation: China-Africa Roundtable Dialogue on Ecology, Environment and Climate Change” was held in Shanghai, China. Relevant representatives from China, African countries, international institutions, think tanks and business sectors attended the meeting to discuss and reach consensus on sustainable energy transition and green investment and financing.

　　The meeting appreciate the Global Development Initiative (GDI) put forward by China. The GDI is committed to its mutual reinforcement with the UN 2030 Agenda for Sustainable Development, the AU Agenda 2063, and the development strategies of African countries;

　　We recall the important documents jointly formulated by China and Africa in recent years on ecological protection and responses to climate change, including China-Africa Cooperation Vision 2035, Forum on China-Africa Cooperation Dakar Action Plan (2022-2024) and Declaration on China-Africa Cooperation on Combating Climate Change;

　　We recognize that China, the largest developing country, and Africa, the continent with the largest number of developing countries [1], are facing the dual challenges of natural ecological environment and socio-economic development; and we agree that cooperation on ecological environment and climate change is an important part of China-Africa practical cooperation;

　　The meeting proposes the following action initiatives:

　　1. We will support policy exchanges on green investment and financing and sustainable energy transition in China and African countries, share good practices on climate-resilient infrastructure investment and sustainable energy transition, strengthen communication and cooperation in building policy frameworks including climate investment and financing standards [2], and build consensus between China and Africa on addressing climate change and green development;

　　2. We will jointly conduct research on China-Africa sustainable infrastructure and energy transition, climate investment and financing and green value chain, and innovative financial support for biodiversity; advance cooperation on green, circular and low-carbon technologies, enrich the results of the China-Africa Green Innovation Program, and enhance Africa's capacity to achieve the UN 2030 Agenda and its Sustainable Development Goals and AU Agenda 2063 [3];

　　3. We will promote the implementation of the China-Africa Green Envoys Program, establish capacity-building partnerships in such areas as climate response, biodiversity conservation, pollution prevention and control, sustainable infrastructure and energy transformation, and green investment and financing, and help ensure that the outcomes of China-Africa cooperation on green and low-carbon development benefit the lives of people in the region;[4]

　　4. We will develop and implement “Africa Solar Belt” Program of its South-South cooperation on climate change, which will create a demonstration for China-Africa cooperation in the photovoltaic resources utilization and assist African countries in realizing green and low-carbon development;

　　5. We will encourage the innovation of climate-friendly green financial products and services; encourage and support financial institutions and non-financial enterprises of China and Africa to strengthen environmental management in project cooperation.;[5]

　　6. We will promote the building of climate-resilient communities, and enhance the capacity of children, youth, women, etc., including climate-vulnerable communities, to adapt to climate change; We will enhance cooperation on capacity-building for sustainable energy transition, increase the employability of youth, empower them to lead change towards more resilient and sustainable societies, and encourage children and young people to initiate climate adaptation solutions for communities;

　　7. We will jointly promote the dissemination of knowledge and achievements on sustainable energy transition and green investment and financing, and gather the policies, good practices, scientific theories, and technologies in application in the region to develop public knowledge products on China-Africa sustainable energy transition and green investment and financing, and promote the results to benefit government departments, the private sector and the public both inside and outside the region;

　　8. We will encourage the full participation of global and local international organizations, scientific research institutions, the financial sector, and other stakeholders to join hands in promoting the development of sustainable energy transition and green investment and financing in China and Africa, so as to provide sustained momentum for China-Africa low-carbon and green economy cooperation and help build a closer China-Africa community of Shared Future;

　　9. We thank the China-Africa Environmental Cooperation Center, Tongji University, and the World Resources Institute for jointly hosting this dialogue.