The International Finance Forum (IFF) and the Silk Road International Association (SRIA) have long been committed to international cooperation and a robust, open world economy. Such initiatives improve communication and global governance, and they also provide additional platforms for addressing global challenges like global warming and the post-pandemic economic recovery. The Belt and Road Initiative (BRI) also seeks greater economic integration and shared prosperity among its members, which is one of the reasons why the Belt and Road Cooperation Award came into being. The award’s objective is to reward organizations and innovative projects around the world that actively engage in various forms of international cooperation that complement the BRI. These include policy coordination, road connectivity, unimpeded trade, currency convertibility, and closer people-to-people ties - i.e., a five-pronged approach - via international cooperation, offering innovative solutions to poverty eradication, infrastructure development, the transformation and upgrading of economic growth, combating environmental pollution, and addressing climate change to achieve sustainable development.

Dating back to ancient times, the Silk Road has always been about promoting “peace and cooperation, openness and inclusiveness, mutual learning, and mutual benefit”, and today this means enhancing the strengths of the international community, the global market, and key players such as governments, international organizations, major businesses, and entrepreneurs to achieve the United Nations Sustainable Development Goals (SDGs) for the overall interests and wellbeing of humankind.

The IFF and SRIA announced that they would begin receiving applications for the Belt and Road Cooperation Award on May 30, 2024, and after the final evaluation on October 26 the winners have been selected and will be officially celebrated on November 24 during the IFF’s annual meeting and the SRIA Summit. This year’s shortlist include the Global Green Growth Institute, China International Capital Corporation, the International Chamber of Commerce, Norinco International Cooperation Ltd., Standard Chartered, Phoenix Satellite TV, the Institute of New Structural Economics at Peking University, Jinko Solar Co., Ltd., EMBA Electricity Production Co. Inc. (Turkey), and Wuliangye Group Co., Ltd. Such diversity shows the many ways innovation is being deployed in a wide variety of sectors and in many different forms - as well as in countries at different levels of development - to make the planet greener and strengthen the international community.

The winners were selected by a panel of experts comprising distinguished scholars from the fields of economics and finance according to five main criteria. These included their comprehensive benefits of international cooperation, their contributions to sustainable development, their international cooperation mechanisms and capacity building, their inclusiveness, multicultural exchanges, and cooperation, and their environmental, sustainability, and governance related risk management and information disclosure. Each winner gets a medal and certificate from the IFF, and also gets to send a representative to attend the IFF’s annual meeting. This means increased opportunities for networking, face-to-face meetings and communication with prominent figures in global green finance, a mention in the IFF’s Global Annual Report, and reports and publicity in global mainstream media, giving the winners valuable exposure, burnishing their green finance credentials and enhancing their brand images and popularity. This win-win arrangement also spreads the benefits to all, as more people, enterprises, universities, organizations, and governments will know about these new innovations and developments, making them more replicable and encouraging a virtuous cycle of further innovation, better sustainability, stronger and wider-reaching networks, and lower costs - and ultimately a greener, healthier, and more peaceful and prosperous planet.