The Mechanism for International Sustainable Infrastructure Promotion (MISIP) is jointly launched at the 13th International Infrastructure Investment and Construction Forum in Macao on Sept 28, 2022.  (MENG XIANGUANG / FOR CHINA DAILY)

MACAO - The Mechanism for International Sustainable Infrastructure Promotion (MISIP) has been jointly launched at the 13th International Infrastructure Investment and Construction Forum held in Macao.

MISIP was jointly initiated by the China International Contractors Association (CHINCA), the Asian Infrastructure Investment Bank, the Deutsche Gesellschaft für Internationale Zusammenarbeit, the United Nations Environment Programme and the World Wide Fund for Nature.

Fang Qiuchen, chairman of CHINCA, said the mechanism aims to bring together domestic and foreign resources, build a cooperation promotion platform and a network of partners

Fang Qiuchen, chairman of CHINCA, said the mechanism aims to bring together domestic and foreign resources, build a cooperation promotion platform and a network of partners, and jointly push the development of infrastructure projects towards a sustainable direction that is more diversified, inclusive, greener, low-carbon, and more climate-resilient.

At the launching ceremony, Fang, on behalf of MISIP initiators, introduced their six main tasks.

First, MISIP is to share the concept of sustainable infrastructure, promote the application of international environmental, social, and governance (ESG) standards, and guide the direction of infrastructure development.

Second, the mechanism is to promote cooperation in the financing of infrastructure projects, implement higher social and environmental standards, and promote the implementation of sustainable infrastructure projects.

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China International Contractors Association Chairman Fang Qiuchen at the launch ceremony says MISIP has attracted 26 international participants. (MENG XIANGUANG / FOR CHINA DAILY)

Third, MISIP is to support sustainable development capacity building, hold sustainable infrastructure theme publicity and training activities, and help enterprises improve their sustainable development capabilities.

Fourth, it is to set an example of sustainable infrastructure projects, play a leading and exemplary role, and disseminate international infrastructure best practice cases.

Fifth, MISIP will provide ESG risk prevention or sustainable development consulting services to support the construction of sustainable infrastructure projects.

Sixth, the initiative aims to build a broad network of partnerships, attract more stakeholders to participate, and jointly promote third-party market cooperation in the field of infrastructure.

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As an open and inclusive cooperation mechanism, MISIP has attracted the participation of 26 institutions such as international organizations, financial institutions, professional service institutions, think tank research institutions, contractors, etc.

Fang said MISIP welcomes more institutions committed to sustainable infrastructure development and construction to join in.

In the future, the mechanism will carry out various tasks through annual meetings, working groups, promotion activities and other means to implement the objectives and tasks of the mechanism, he said.