主权转型：释放投资机遇

The report outlines a framework for credible sovereign transition planning based on five elements: robust targets, a 'whole-of-government' approach, green public financial management, integrated policy tools, and transparency. It addresses the challenge of 'debt overhang' in both developed and emerging markets, suggesting alternatives such as excluding transition spending from deficit calculations and utilizing GSS+ bonds. The document also examines the roles of national development banks, sovereign wealth funds, and central banks in mobilizing private capital and providing low-cost financing for climate action.

• Credible sovereign transition planning requires five core elements: robust targets and commitments, a 'whole-of-government' model, green public financial management, the integrated use of policy tools, and transparency.
• National development banks and sovereign wealth funds can mobilize private capital and provide long-term strategic investment for net-zero transitions, though many wealth funds still lack clear climate targets.
• Central banks can support transition financing by adjusting asset purchase principles from 'market neutral' to 'climate neutral' and modifying collateral frameworks to reflect climate risks.

APA

Burge, L., Van Coppenolle, M., Martini, M., & Creed, A. (2025). 主权转型：释放投资机遇. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/Climate-Bonds_Sovereign-Transition-Unlocking-the-Investment-Opportunity_Report_CN_June-2026.pdf

Chicago

Burge, Lily, Magali Van Coppenolle, Mireille Martini, and Anna Creed. 主权转型：释放投资机遇. Climate Bonds Initiative, 2025. https://www.climatebonds.net/files/documents/publications/Climate-Bonds_Sovereign-Transition-Unlocking-the-Investment-Opportunity_Report_CN_June-2026.pdf.

Wikipedia

{{cite report |last1=Burge |first1=Lily |last2=Van Coppenolle |first2=Magali |last3=Martini |first3=Mireille |last4=Creed |first4=Anna |title=主权转型：释放投资机遇 |publisher=Climate Bonds Initiative |date=October 2025 |url=https://www.climatebonds.net/files/documents/publications/Climate-Bonds_Sovereign-Transition-Unlocking-the-Investment-Opportunity_Report_CN_June-2026.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{burge2025, author = {Burge, Lily and Van Coppenolle, Magali and Martini, Mireille and Creed, Anna}, title = {{主权转型：释放投资机遇}}, institution = {Climate Bonds Initiative}, year = {2025}, month = oct, url = {https://www.climatebonds.net/files/documents/publications/Climate-Bonds_Sovereign-Transition-Unlocking-the-Investment-Opportunity_Report_CN_June-2026.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }