The picture shows the clean energy heating station of Jinling Mountain Villa, Wendeng District, Weihai City, Shandong Province (photo of drone). According to the State Grid Shandong Electric Power Company, in 2020, Shandong completed 358,400 clean heating jobs of "coal to electricity". In the heating season of 2020, it is estimated that 270,000 tons of standard coal will be saved, and 680,000 tons of carbon dioxide, 20,000 tons of sulfur dioxide and 654.38+10,000 tons of nitrogen oxides will be reduced. Xinhua News Agency reporter Zhu Yushe
The Central Economic Work Conference pointed out that it is one of the key tasks to be done next year to do a good job in carbon dioxide emission peaking and carbon neutrality. As an important way to achieve the goal of carbon neutrality, how to develop green finance with high quality has attracted much attention. Experts said that it is necessary to innovate and develop green finance and give full play to its important role in supporting green recovery. At the same time, improve the standards of green finance to ensure that green projects, green loans, green bonds and projects in the green fund catalogue do not harm the goal of tackling climate change.
The Central Economic Work Conference held a few days ago determined that it is one of the key tasks to be done next year to do a good job of peaking carbon dioxide emissions and carbon neutrality. China's carbon dioxide emissions will reach the peak by 2030 and achieve carbon neutrality by 2060 (hereinafter referred to as the "30.60 goal"). The meeting also pointed out that it is necessary to increase financial support for green development.
As an important way to achieve carbon neutrality, how should China's green finance exert its strength? How to build a green financial standard system with high quality?
The green financial market is developing rapidly.
"Vigorously developing green finance is an inevitable choice to promote the high-quality development of China's economy and an important means to achieve green recovery." Liu Guiping, deputy governor of the People's Bank of China, recently said at the China Green Finance Reform and Innovation Seminar held in Huzhou, Zhejiang.
Up to now, the overall quality of China's green financial assets is good, the non-performing rate of green loans is much lower than that of national commercial banks, and there is no case of green bond default. The data shows that by the end of the third quarter of this year, the balance of China's green loans was 1 1.55 trillion yuan, ranking first in the world. At the end of June, the stock of green bonds was 1.2 trillion yuan, ranking second in the world.
Liu Guiping said that in the next step, we should give full play to the important role of green finance in supporting green recovery, constantly improve the financing environment of green industries and green projects and deepen international cooperation in green finance around the tasks of "six stabilities" and "six guarantees". On the one hand, it is necessary to innovate and develop green finance, support the realization of the "30.60 goal", gradually incorporate climate change-related risks into the central bank's policy and prudent management framework, build a high-quality green financial standard system, systematically promote the development of carbon emission rights and carbon financial markets, and accelerate the formation of institutional mechanisms conducive to carbon emission reduction. On the other hand, it is necessary to carry out grass-roots practice of green finance reform and innovation, support qualified areas to take the lead in proposing carbon neutrality goals, encourage pilot areas to actively explore new models of green finance development, promote green finance to support innovative development in renewable energy, green buildings, clean transportation and other fields, and play a more active role in serving national and regional development strategies such as coordinated development of Beijing-Tianjin-Hebei, construction of Guangdong-Hong Kong-Macao Greater Bay Area and integrated development of the Yangtze River Delta.
Support the realization of "30.60 goal"
The so-called carbon neutrality means that in a certain period of time, the total amount of greenhouse gas emissions directly or indirectly generated will offset the carbon dioxide emissions generated by itself through afforestation, energy conservation and emission reduction, so as to achieve "zero emission".
To help achieve the goal of carbon neutrality, how should China's green finance work? Lei Yao, deputy director of the Financial Research Institute of the People's Bank of China, said that since 20 16, China has made remarkable progress in green financial standard system, green digital infrastructure construction, green financial product innovation system and green incentive and restraint mechanism. In order to achieve the "30 60 goal", the People's Bank of China will focus on the goal of carbon neutrality around the spirit of the Fifth Plenary Session of the 19th CPC Central Committee and continue to promote the development of green finance.
"Guangzhou Carbon Emissions Exchange will provide support for Guangdong, Hong Kong and Macao investment institutions to participate in the Guangdong carbon market on the basis of the practice of cross-border RMB channels, and explore voluntary emission reduction products such as carbon Pratt & Whitney to promote Greater Bay Area's carbon dioxide emission peak and carbon neutrality." Meng Meng, president of Guangzhou Carbon Emissions Exchange, said that Guangdong has made active efforts in Guangdong-Hong Kong-Macao Greater Bay Area's response to climate change and green financial cooperation. For example, a Guangdong-Hong Kong cooperation mechanism for environmental protection and climate change response was established with Hong Kong, and a cooperation group was set up to formulate a Guangdong-Hong Kong cooperation plan for environmental protection and climate change response in 2020; Cooperate with Hong Kong and Macao institutions in environmental information disclosure and carbon labeling. Greater Bay Area Green Finance Alliance was jointly established with Hong Kong and Macao to support the coordinated development of green finance in Greater Bay Area.
Yin Hong, vice president of Modern Finance Research Institute of China Industrial and Commercial Bank, believes that in order to achieve the "30.60 goal", environmental information disclosure of financial institutions is a good starting point. 20 17 12 As the result of the ninth Sino-British economic and financial dialogue, the pilot of climate and environmental information disclosure of Chinese and British financial institutions was launched. Industrial and Commercial Bank of China (ICBC) and United Nations Principles for Responsible Investment (UNPRI) are pilot institutions in China and the United Kingdom, respectively, and organize and promote pilot financial institutions to disclose environmental information according to the climate information disclosure framework of the Climate-related Financial Information Disclosure Working Group (TCFD). In the past three years, the pilot has made positive progress, and the number of Chinese-funded participating institutions has increased to 15, covering a variety of financial formats such as banking, securities and insurance, forming a useful experience that can be replicated and popularized.
Building a Green Financial Standard System
2065438+In August 2009, the green financial information management system developed by the People's Bank of China was put into operation in Huzhou. The system integrates many functions such as green loan statistical analysis, green credit process supervision, green financial policy evaluation and so on. To realize the direct information connection between the People's Bank of China and financial institutions. The next step will be to take the lead in promoting it in three provinces and one city in the Yangtze River Delta.
According to the relevant personnel of Huzhou Central Sub-branch of the People's Bank of China, since the system was officially launched, the time limit of data collection frequency has changed from 20 days after each quarter to 1 day after each working day, the calculation of statistical labor cost has been reduced by nearly 20%, and the accuracy of data has been improved by nearly 10%. Relevant data and information have been initially applied to daily management, statistical analysis and performance evaluation, and obvious results have been achieved.
"At present, six green finance related systems 16 have been developed in each experimental area, effectively solving the problem of green project identification, reducing the information asymmetry in the green financial market and expanding the scope and coverage of green financial services." Liu Guiping said.
Not only has a new breakthrough been made in the construction of digital infrastructure of green finance, but a standard system of "domestic unification and international integration" is also being accelerated. Liu Guiping said that the statistical system of green finance has been gradually improved, and significant progress has been made in formulating a number of green financial standards. The comparative study of green financial standards between China and Europe is about to be completed, which provides an important guarantee for standardizing green financial business, ensuring the sustainability of green financial business and promoting green economic and social development. Some drafts of green financial standards were tried first in the green financial reform and innovation experimental zone, which not only guided the green financial work in the experimental zone, but also effectively improved the quality of setting green financial standards.
Ma Jun, director of the Green Finance Committee of China Finance Association, suggested that carbon neutrality should be taken as a constraint condition to improve the green finance standards, so as to ensure that the items in the green projects, green loans, green bonds and green funds catalogue do not harm the climate change targets.