The Asian Infrastructure Investment Bank is considering adjusting its energy strategy next year, Said Jin Liqun, President of the Asian Infrastructure Investment Bank, at a conference on the Future of Asia and Energy on November 19. He reiterated that the AIIB would not fund any coal-fired power plants or coal-related projects, and that the announcement would be implemented in the future. Jin said the AIIB is committed to guiding developing countries towards a zero-carbon economy, which is also the bank's international responsibility. The energy strategy formulated by the AIIB in 2017 does not exclude coal-related projects from the scope of financing because thermal power generation is the main energy source in the energy structure of many developing countries in the long term, and "decarbonization" cannot be achieved in one step. AIIB has to adopt a gradual approach, so coal-related projects are not excluded from the scope of financing. But in fact the AIIB has not had any coal-related projects in the past five years. In the future, this approach will be implemented as the strategy is gradually adjusted and clarified. Next year, the AIIB will shift to more support for zero-carbon economic development and push forward the implementation of the Paris Agreement. Zhang Yuzhuo, Chairman and Party Secretary of China Petroleum and Chemical Corporation, said that based on the different economic growth pattern of various countries, and their position in the global industrial chain, it is unrealistic for traditional resource and energy intensive countries to quickly eliminate fossil energy. Therefore, it is imperative to promote technological progress to realize cleanliness of traditional fossil energy. During the transition period, Sinopec will first focus on the natural gas business as the most important energy development direction, and at the same time, it will further expand into the hydrogen industry by deploying hydrogen refueling stations, including promoting hydrogen cars in many provinces and upgrading existing gas stations, Zhang said. The AIIB's statement has brought a strong demonstration effect. Its new financing principles will provide a reference for loans from other financial institutions. In the context of the increasing pressure on China to reduce emissions, the financing of domestic coal enterprises and enterprises with high carbon emissions will also be more and more constrained.