Building a Community of Shared Future through ESG Financial pathway: Fostering Green Development and Global Cooperation

Abstract

The world is facing unprecedented challenges. Extreme weather events such as high temperatures,severe cold,and heavy rains are becoming more frequent and violent. The resulting natural disasters,such as droughts, floods, and wildfires, seriously threaten the ecosystem and human safety. Melting glaciers, rising sea levels, resurgence of ancient viruses, and disruption of the natural food chain will plunge the entire earth into an unprecedented crisis. The Chinese government proposed cooperation initiative to build the"the Silk Road Economic Belt and the 21st-Century Maritime Silk Road" respectively to jointly create a destiny for mankind that benefits political mutual trust, economic integration, cultural inclusion, community. In the context of "the Belt and Road initiative", building a community with a shared future for mankind through green development and cooperation with the help of ESG (environment, society and governance) is currently an important issue for the sustainable development of the entire region. The initiative aims to promote economic cooperation and exchanges among countries along the route and promote common prosperity and development. With the help of ESG concepts and practices, a framework for green development cooperation can be built for countries along the "the Belt and Road initiative" to achieve sustainable development goals. The research team recently conducted extensive research in Europe and gained two outstanding insights. First, although Europe does not have a complete industrial system,it has its own characteristics in the implementation and promotion of ESG models.The most important reason is that they attach great importance to the ESG concept , it has advantages in terms of corporate strategy, technology and financial management scale. Second, as a developing country, China has the most stable policy system and the most complete industrial system. These two points of view have important implications for thinking about building a community with a shared future for mankind through green development and cooperation through ESG paths in the context of "the Belt and Road initiative".