Editor's note:
Tsinghua University plays an active role in promoting the 17 UN Sustainable Development Goals (SDGs) by nurturing innovative talents, enhancing research, among many other important ways.
Meet Lin Li, a graduate student of Tsinghua University’s PBC* School of Finance (PBCSF), who was also an intern in the World Economic Forum and the United Nations Development Programme (UNDP). In this TsinghuaRen SDGs series, we will see Lin Li’ s story of striving for a more sustainable world in a financial way.
*PBC - People's Bank of China
A Seed of development
The dream of working for global development was rooted in Li’s mind from her youth. Growing up from an underdeveloped county, she was shocked by the economic development gap she saw when she moved to Changsha, the capital city of Hunan province for junior high school.
“The newly built high-speed railway and highway granted me to study in the city, which cut half of the commuting time. She owed her personal growth to the development of China,” I felt a deep link between myself, the society and the nation in the process of personal improvement”.
As a member of Siyuan Project (a project aimed at cultivating leadership and all-round development of undergraduates), she visited many underdeveloped places for social practice and volunteer teaching, at impoverished villages in Shaanxi province and Laos. These experiences made her learn more about the real situation of people living in poverty.
In Laos, Li taught local students’ pre-beginner English classes at a language center, “Although the teaching infrastructure there is underdeveloped and many students are financially constrained, they are still eager to learn more about the outside world with curiosity, which greatly drove me to work for the better development of the world.”
Lin Li, her partner and local students in Laos.
A Magic trip to UNDP
Initiated in 1965, the United Nations Development Programme (UNDP) is one of the biggest organizations working for global development. It aims at promoting sustainable development of humanity by providing technical advice and training for developing countries.
Fulfilling her professional global development dream job, Li joined UNDP China as the SDG finance and administration intern under the Policy and Research Team.
Research was one of Li’s main responsibilities in UNDP China. With solid knowledge background in economics and finance, she conducted several researches on SDG-related policies, such as Green Budgeting - how the government can incorporate green development goals into the national fiscal system.
She also participated in developing the second phase of the China SDG Investor Map, a market intelligence tool guiding investors towards investment opportunities with the potential to generate both SDG impact and financial returns. Although her work was just a small part of the whole project, she still felt a sense of accomplishment when the report was finally launched.
The Map drove her to reflect on the real situation of Chinese companies in the environment protection sector. In the survey, she found that while listed companies have relatively easy access to finance, many companies in the industrial chain still face financial constraints. For example, a sewage treatment company may have difficulty in finding a suitable equipment manufacturer because equipment often requires large up-front capital expenditure. “It inspired us that it is necessary to develop more innovative and practical financing tools,” she said.
Lin Li and her colleagues on the Forum on Investment in China’s Dual Carbon Goals and Launch of China SDG Investor Map Phase II
During the internship in UNDP China, Li learned many frontier concepts and practical examples. Debt-for-nature Swap (DNS)* was one of the most impressive ideas she came across. Under global economic depression and climate change, many developing countries confront increasing debt distress risks. The DNS is an innovative mechanism to tackle such problem – creditor countries can waive a portion of the debt if the debtor invests in climate change adaptation and biodiversity conservation projects.
In addition to SDG finance, the Policy and Research team she was in also cares about better human development in a changing world. Li also learned about a research program on just transition, which focuses on the “last mile of net-zero transition”, such as the life of coal workers who may have been laid off due to the environmental governance. The team will visit Shanxi Province for the second phase of research.
“The experience of working for UNDP China provided me so many brilliant ideas that can hardly be learned from textbooks. It was a precious opportunity for me to see the world and tackle developing issues.” Lin Li said.
* Debt-for-nature Swap - Cancellation of the debts of developing nations in return for their commitment to environmental conservation. Being named as “债转自然机制” in Chinese.
Experiencing, then growing up
In UNDP, Li gradually learn outside the ivory tower. As a student, doing research was her forte. But the administration tasks that required her to communicate with many stakeholders, such as cooperative-partners, guests, media and suppliers in event management and catering company, was quite challenging for her.
“Efficient communication and close cooperation guarantee the success of a meeting,” Li said. “In the process, I was pushed to come out of my comfortable zone, thinking like a staff instead of thinking as a student.”
The experience of internship in the UNDP also brought her friendship with her colleagues. They would hike and ski in spare time and also like to discuss about their future career plan.
“We have different backgrounds, but held the same belief in SDGs.”
Lin Li and other interns in UNDP
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