(Economic Observation) China is moving towards the "30·60 goal", what can green finance do?

　　China News Agency, Beijing, November 29 (Reporter Xia Bin) Chinese officials have proposed that carbon dioxide emissions will reach the peak by 2030, and strive to achieve carbon neutrality by 2060.

What can green finance do as China moves towards the "30·60 Goal"?

　　In fact, the "30·60 target" not only plans the timetable for the carbon neutral plan, but also sets the overall timetable for China's energy revolution, and sets new target requirements for China's financial industry.

The "2020 Annual Meeting of the Chinese Society of Finance and the Annual Meeting of the China Finance Forum" was held in Beijing recently. During the meeting, many experts exchanged views on the theme of "Green Finance and 30·60 Goals". Lei Yao, deputy director of the Institute of Finance of the People's Bank of China, hosted The above discussion.

　　The capital market should pay more attention to green.

Ma Xianfeng, vice president of the China Securities Regulatory Institute of the China Securities Regulatory Commission, pointed out that the disclosure of environmental information by listed companies is of great significance to mitigating climate change, and will help investors effectively identify green companies and allocate funds to green and low-carbon listed companies, helping the country Green and low-carbon economic development.

　　Ma Xianfeng said that on the one hand, Chinese regulators continue to strengthen the supervision of the environmental and social responsibility information disclosure of listed companies, and are currently studying and formulating listed companies to disclose environmental information in the form of ESG (environmental protection, social responsibility and corporate governance) reports. Specific approach.

On the other hand, the enthusiasm of ESG information disclosure by listed companies continues to increase, and the quality of information disclosure continues to improve.

　　Financial institutions should serve more green.

Ye Yanfei, first-level inspector of the Policy Research Bureau of the China Banking and Insurance Regulatory Commission, believes that the strategic planning and top-level design of financial institutions must be based on the two major trends of digital transformation and green and low-carbon transformation, and be reflected in the concept, mission, vision, and vision of financial institutions. Organizationally and strategically.

　　Ye Yanfei pointed out that financial institutions should analyze asset allocation risks from multiple dimensions such as policy adjustments, technological changes, industry booms and busts, carbon emission intensity, energy efficiency, investor preferences, and consumer preferences, especially the concentration risk and market related to climate change. risk.

Avoid "stranded" assets and strictly control the risks of major projects such as coal power, coal chemical industry, and coal mining.

At the same time, do a good job in information disclosure and capacity building.

　　Bank of China Risk Director Liu Jiandong said that as a source of living water to support the real economy, financial institutions should actively respond to the country's call to change asset allocation and play a key role in achieving China's "zero carbon vision" goal.

　　First, commercial banks need to study national policy-level action plans, technical routes for industrial upgrading, and adjust and optimize asset structure allocation based on their own development strategies.

　　Second, commercial banks will conduct stress tests on environmental and climate risks, actively identify and respond to risks, and adjust asset allocation and layout in advance.

　　Third, carbon emission reduction projects often have problems such as maturity mismatch, high information disclosure requirements, cost-benefit mismatch, and external effects that are difficult to quantify, which seriously affect business sustainability and require adequate external incentives to cover business costs, such as fiscal, taxation and environmental protection. , Economic capital incentives and other supporting policies.

　　Zhang Xiliang, director of the Institute of Energy, Environment and Economics of Tsinghua University, stated that China’s energy system needs to undergo a profound transformation in order to achieve the "30·60 target". The main measures include the introduction of a carbon pricing mechanism, and through continuous improvement of the top-level design, it should be a national carbon market. Set the reserve price and gradually increase the reserve price level to shift to a more reasonable and effective price.

At the same time, increase investment in low-carbon energy technologies. Carbon neutrality will bring an average annual green economy investment of more than one trillion yuan from 2020 to 2060, and provide a large number of new investment opportunities for the financial industry.

　　China's green finance cannot "work behind closed doors."

Ma Jun, director of the Green Finance Professional Committee of the Chinese Finance Society, believes that it is necessary to fully learn from the experience of the financial industry and regulatory agencies in advanced economies such as Europe and the United Kingdom in supporting the achievement of carbon neutral goals.

　　He suggested that green finance standards should be formulated based on the principle of “not compromising the goal of addressing climate change”; strengthen the climate-related information disclosure requirements of enterprises and financial institutions; encourage financial institutions to conduct environmental and climate risk analysis; strengthen green finance with a carbon neutrality orientation Incentive mechanism; practically implement the China-EU Green Partnership, and vigorously introduce low-carbon technologies and low-cost funds from Europe.

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