1、APEC Green Finance Report Unlocking the Urban Energy Transition APEC Energy Working Group March 2023 APEC Project:EWG 09 2021S Produced by:APEC Sustainable Energy Center(APSEC)Tianjin University Library of Science Weijin Road 92 Tianjin-Nankai 300072 China(86)22 27 400 847 A http:/ Pacific Economic

2、Cooperation Secretariat 35 Heng Mui Keng Terrace Singapore 119616 Tel:(65)68919 600 Fax:(65)68919 690 Email:infoapec.org Website:www.apec.org Copyright 2023 APEC Secretariat APEC#223-RE-01.3 ISBN:978-981-18-7305-8 4 Foreword APEC Sustainable Energy Center(APSEC)is pleased to present the APEC Green F

3、inance for Urban Energy Transition Report.This report is destined on the one hand to the broader APEC Energy Working Group and its sub-groups,whose targeted readership is composed mainly of non-specialists of finance,on the other hand to urban planners of APEC cities wishing to get new insights abou

4、t the road to carbon neutrality and the way to achieve it.Consequently,the report starts with exposing roadmaps towards carbon neutrality,identifies their financing gap and outlines the frameworks adopted by COP26 and by APEC designed to give guidance for the transition towards carbon neutrality.It

5、then presents the two ways to increase the role of green finance,namely increasing returns and profitability of green investments,and de-risking green investments.Case examples underpin the theoretical arguments.The report then shows how different roles of cities can each contribute to attain local

6、carbon neutrality.The pathway towards carbon neutrality is a pathway towards prosperity,not towards austerity.The number of jobs created is a multiple of the number of jobs lost.But this transformation does not come without an initial investment in the amount of 4%to 5%of global GDP per year,which m