MNI INTERVIEW: China-US Should Set Green Whitelist - Ma

China and the U.S should introduce a “whitelist” mechanism to protect green investment from sanctions and promote climate collaboration, Ma Jun, former chief economist at the People’s Bank of China, told MNI in an interview.

Ma, current president at the Beijing-based Institute of Finance and Sustainability and chairman at the Green Finance Committee of the China Society for Finance and Banking, suggested the two countries take concrete steps to work together on climate, including the creation of a “whitelist” that includes climate-positive activities for bilateral investment, trade and technology cooperation.

During last month's World Economic Forum in Tianjin, Ma stressed climate change should represent one of the most important common causes China and the U.S. could collaborate on, noting recent high-ranking official U.S. official trips (see: MNI INTERVIEW: China-US Face Challenges Despite Thaw - Expert).

Treasury Secretary Janet Yellen finished her four-day visit to China on Sunday, meeting several high-ranking officials including Premier Li Qiang, Vice Premier He Lifeng and New Party Secretary of the PBOC, Pan Gongsheng (see: MNI: New PBOC Party Chief To Push Prudent Policy, Fx Reform).

According to a Treasury Department statement, Yellen noted the U.S and China should work together on issues of shared and global concern, including on climate finance, when she met with He on Sunday, her counterpart overseeing China’s economy.

Ma, a leading green-finance advocate, has worked on the Track II Dialogue between China and the U.S on climate finance and warned the recent deterioration of bilateral relations had led to concerns among investors, including those in green and climate sectors, that national security concerns could impede investment flow between the two countries.

However, Ma believes a whitelist authored by the two countries could positively contribute to climate action and reduce uncertainty within renewables, EVs, energy storage, CCUS, green building and waste recycling technologies, and encourage bilateral investment, trade, and technology cooperation in the covered areas.

Market watchers expect the upcoming July visit of John Kerry, President Joe Biden’s special envoy for climate change, to further motivate cooperation and help restart global warning negotiations between the two countries.