Nature Related Sustainable Finance in China 2025

Endnotes 1. The State Council Information Office of People’s Republic of China. (2024). What to know about China’s high-quality development. http://english.scio.gov.cn/m/in-depth/2024-03/18/content_117066836.htm 2. Convention on Biological Diversity. (2025). Governments agree on the way forward to mobilize the resources needed to protect biodiversity for people and planet. https://www.cbd.int/doc/press/2025/pr-2025-02-27-cop16-en.pdf 3. World Economic Forum. (2025). Nature Positive: Corporate Assessment Guide for Financial Institutions. https://www. weforum.org/publications/nature-positive-corporate-assessment-guide-for-financial-institutions/ 4. Convention on Biological Diversity. (2022). Biodiversity and Nature, close but not quite the same. https://www.cbd.int/ idb/activities/difference-biodiversity-nature.pdf 5. European Commission. (2024) Overview of sustainable finance. https://finance.ec.europa.eu/sustainable-finance/ overview-sustainable-finance_en 6. World Economic Forum. (2020). Nature Risk Rising: Why the Crisis Engulfing Nature Matters for Business and the Economy. https://www3.weforum.org/docs/WEF_New_Nature_Economy_Report_2020.pdf 7. World Economic Forum. (2022). New Nature Economy Report III: Seizing Business Opportunities in China’s Transition Towards a Nature-positive Economy. https://www3.weforum.org/docs/WEF_New_Nature_Economy_Report_ China_2022.pdf 8. Meng, T., Zhang, Y., Li, S., et al. (2022). Biodiversity Finance in China. Morningstar. https://connect.sustainalytics.com/ zh-cn/scs-ebook-biodiversity-finance-in-china 9. The Paulson Institute. (2020). Financing Nature: Closing the Global Biodiversity Financing Gap. https://www. paulsoninstitute.org/conservation/financing-nature-report/ 10. Ibid 11. Tobin-de la Puente, J. and Mitchell, A.W. (eds.), 2021. The Little Book of Investing in Nature, Global Canopy: Oxford 12. Boric, N., Smith, J., Gonzalez-Redin, J., de Horde, A., & Rokneddine, O. (2024). Finance for Nature Positive: Building a Working Model. Finance for Biodiversity Foundation and UNEP Finance Initiative 13. TNFD. (2023). Recommendations of the Taskforce on Nature-related Financial Disclosures. https://tnfd.global/ wp-content/uploads/2023/08/Recommendations-of-the-Taskforce-on-Nature-related-Financial-Disclosures. pdf?v=1734112245 14. IFRS. (2024). Jurisdictions representing over half the global economy by GDP take steps towards ISSB Standards. https://www.ifrs.org/news-and-events/news/2024/05/jurisdictions-representing-over-half-the-global-economy-by-gdp- take-steps-towards-issb-standards/ 15. Shanghai Stock Exchange (SSE). (2025). SSE Releases Sustainability Reporting Guidance to Drive High-quality ESG Reporting by Listed Companies. https://english.sse.com.cn/news//newsrelease/c/c_20250117_10770311.shtml; Shenzhen Stock Exchange (SZSE). (2025). SZSE Releases Sustainability Report Guidance to Further Enhance Baseline ESG Disclosure Requirements for Listed Companies. https://www.szse.cn/English/about/news/szse/t20250117_611577. html (2025). Guidelines for the preparation of sustainability reports for listed companies on the Beijing Stock Exchange. https://www.bse.cn/Service_info/200024724.html 16. Nature-related Financial Disclosures (TNFD) . (2025). IFRS Foundation and TNFD formalize collaboration to provide capital markets with high-quality nature-related information. https://tnfd.global/ifrs-foundation-and-tnfd-collaboration-to-provide- capital-markets-with-high-quality-nature-related-information/ 17. Insurance Asset Management Association of China. (2022). ESG Due Diligence Initiative for China’s Insurance Asset Management. https://www.iamac.org.cn/xhgz/202209/t20220906_7938.html 18. Green Central Banking. (2024). Green taxonomy comparison aims to improve cross-border sustainable investment. https://greencentralbanking.com/2024/11/19/green-taxonomy-comparison-china-singapore-europe/?utm_ source=chatgpt.com 19. International Platform on Sustainable Finance (IPSF). (2024) Common Ground Taxonomy Multi-Jurisdiction Activity Tables. https://finance.ec.europa.eu/document/download/e83394d0-daf1-487e-b1bf-922731767a10_en?filename=241113- common-ground-taxonomy-multi-jurisdiction-activity-tables_en.pdf 20. Climate Bonds Initiative. (2023). Climate Bonds Market Data. https://www.climatebonds.net/market/data/ 21. United Nations Conference on Trade and Development. (2024). World Investment Report 2024: Investment Facilitation and Digital Government, Chapter III. Sustainable finance trends. https://unctad.org/system/files/official-document/ wir2024_ch03_en.pdf 22. Economist Intelligence Unit. (2023). Anti-ESG Sentiment in the US Weakens ESG Markets. https://www.eiu.com/n/anti- esg-sentiment-in-the-us-weakens-esg-markets 23. Environmental Finance. (2024). Sustainable Bonds Insight 2024Please note some websites cannot be accessed from outside China due to internet restrictions. 27