Commercial banks actively develop green credit and carbon finance——
Increasing guarantees to enrich financial products
In 2020, my country announced a timetable for "carbon peak" and "carbon neutral".
To achieve the goal of green development on schedule, financial support is a necessary condition.
In recent years, commercial banks have continued to deepen their exploration in the field of green finance, and have moved from green credit and green bonds to carbon finance.
At the same time, commercial banks have gradually enriched their products for participating in green finance, and the guiding role of funds has become increasingly apparent.
The Agricultural Bank of China, by increasing credit policy tilt and resource protection, guides funds to tilt toward green industries, and encourages branches to increase green credit investment.
At present, ABC's green credit indicators have covered 55 industries including cement, steel, coking, thermal power, and paper making, effectively playing an active role in supporting the green upgrading of industries and preventing and controlling environmental and social risks.
In January of this year, Wuhan Iron and Steel Group Kunming Iron and Steel Co., Ltd., led by the Kunming Branch of China CITIC Bank, completed the first 4 billion yuan green loan, which initiated the orderly support for the environmental protection relocation and upgrade project of Wuhan Iron and Steel Co., Ltd.
In accordance with the strategic deployment of transformation and upgrading and optimizing the steel industry chain, Kunming Iron and Steel Co., Ltd. implements the construction of the environmental protection relocation and transformation and upgrading project of the Ministry.
The syndicated loan to provide financing support for the project has been signed by multiple parties on December 14, 2020.
As the lead unit, China CITIC Bank Kunming Branch has coordinated 16 relevant financial institutions, borrowers, guarantors, appraisal agencies, and real estate registration center to quickly complete 70 contracts, and complete the evaluation and mortgage registration procedures within two working days. Successfully placed the first loan.
In early March, Bank of China assisted State Grid International Financial Leasing Co., Ltd. in successfully issuing 1.75 billion yuan of "carbon neutral" green asset-backed commercial papers with a priority tier coupon rate of 2.99%. This is the first batch of "carbon neutral" in the interbank market in the country. One of the asset-backed commercial papers.
Prior to this, the China Association of Financial Market Institutional Investors launched a "carbon neutral" debt financing tool to promote innovation in financing projects related to the utility of carbon emission reduction.
After learning that State Grid Leasing has low-carbon transformation infrastructure assets such as hydropower and wind power, the Tianjin branch of Bank of China cooperated with the Beijing branch to complete all issuance filing procedures in just 5 days.
If green credit and green bonds are the traditional business of commercial banks, then carbon finance is a brand new area where banks use financial tools to help my country achieve green development.
Carbon finance refers to the introduction of financial products such as financing, factoring, asset management, and funds around carbon emission rights and their transactions, and the formation of various financial institutional arrangements and financial transaction activities aimed at reducing greenhouse gas emissions.
In the past few years, Industrial Bank, Agricultural Bank of China, and Shanghai Pudong Development Bank have launched products such as carbon asset pledge credit, carbon trading financial advisors, carbon delivery guarantees, and carbon factoring financing.
Take Industrial Bank as an example. The bank has signed strategic cooperation agreements with all seven carbon trading pilot provinces and cities in my country to promote the construction of domestic carbon trading markets.
On March 16, the Nanping Branch of Industrial Bank signed a forestry carbon sink pledge loan and a forward agreed repurchase agreement with the State-owned Forest Farm of Shunchang County, Nanping City, Fujian Province, and issued 20 million yuan to the forest farm through the "carbon sink loan" comprehensive financing project. loan.
This is the country's first agreed repurchase financing project with a long-term carbon sink product as the subject matter.
The forests in northern Fujian are vast and rich in carbon sink resources.
Last year, Nanping City became one of the first green finance reform pilot zones in Fujian Province.
Using Shunchang as a pilot base, Industrial Bank actively explores carbon finance innovations and converts the remaining unsold carbon sinks in the 104,000 mu forestry carbon sink project of the Shunchang County State-owned Forest Farm into a "golden mountain and silver mountain".
The Industrial Bank also adopted the forestry carbon sink portfolio pledge model of "carbon sales + forward carbon sales", took forward carbon sink trading rights as a guarantee method, and set up a forestry carbon sink forward agreement to repurchase, which is a state-owned forest farm in Shunchang County. Comprehensive pledge financing of forestry carbon sink trading rights.
In addition, the Industrial Bank will discuss cooperation with national carbon emission trading system operators in terms of trading platform cooperation around the construction of the national carbon market; in terms of cooperation with key emission units, it will provide grouping and carbon finance features. Comprehensive financial service plan; in cooperation with regulatory authorities and carbon asset management companies, explore the establishment of guidance funds, guarantee funds and other products, and at the same time research and develop carbon financial derivatives including forwards, futures, options and other trading tools.
Our reporter Yu Yong