The national carbon market is about to set sail for energy state-owned enterprises to explore carbon asset management

Original title: The national carbon market is about to set sail for state-owned energy enterprises to explore "carbon asset" management

Original source: Economic Information Daily

Under the goal of carbon peak and carbon neutrality, how to use market mechanisms to control and reduce greenhouse gas emissions has become an important direction.

Optimize the energy structure and increase the proportion of wind and solar power generation

Carbon peaks in 2030 and carbon neutral in 2060-this is the goal and task proposed by my country during the 75th UN General Assembly in 2020.

Generally speaking, there are two main ideas for achieving carbon neutrality: one is to reduce emissions, and the other is to absorb the emitted carbon.

my country's power generation and heating sector accounted for higher carbon emissions than the world average (42%).

Focusing on carbon peaking and carbon neutrality, my country's five major power generation groups have successively proposed timetables and completion goals.

As the national economic center, Shanghai has proposed to ensure that carbon emissions peak by 2025, five years ahead of the national timetable.

According to the relevant person in charge of Shenergy Group, Shenergy’s installed capacity of clean energy rights has increased from 42.

　　Make use of market mechanism to do a good job in "carbon asset" management compulsory course

　　In addition to optimizing the energy structure, how to use market mechanisms to promote energy conservation and emission reduction is an important future direction.

　　According to the "Administrative Measures for Carbon Emission Trading (Trial)" issued at the beginning of the year, this year my country will organize and carry out centralized and unified trading of national carbon emission rights.

　　The carbon market uses the market mechanism to promote energy conservation and emission reduction and continuous optimization of enterprises.

　　Prior to the establishment of a national carbon emission trading market, Shanghai and other eight provinces and cities have launched local carbon emission trading pilots.

　　Liu Xian, executive director and general manager of Shenergy Carbon Technology, told reporters that in terms of the total amount, Shanghai will issue a total carbon emission allowance of about 150 million to 160 million tons per year, and Shenergy system companies will be allocated nearly 2,000 carbon emission allowances each year.

　　"For example, the Waigaoqiao No.

　　Under the pressure of contract performance, Shenergy actively used market-oriented means to complete contract performance tasks and reduce contract performance costs.

　　On the basis of accumulated trading experience, Shenergy Carbon Technology not only provides performance services for system enterprises, but also provides integrated carbon business services such as verification, development, trading, and management for external users.

　　As Fu Chengyu, the former chairman of Sinopec, said, carbon emission reduction seems to have strict standards on the surface, but in fact it is of great benefit to improving the management level and technological progress of the enterprise.

　　Huge funding gap, carbon finance market opportunities can be expected

　　In March of this year, the country's first "carbon neutral" asset-backed commercial paper (ABCP) was launched in the inter-bank market.
The product issuance scale is 1.
75 billion yuan, and the priority tier coupon rate is only 2.
99%.
All the funds raised will be used to support clean energy projects such as wind power, hydropower, and photovoltaics.

　　The Governor of the Central Bank, Yi Gang, previously stated at the China Development High-level Forum that there are many calculations on all aspects of the funding needs for achieving carbon peaks and carbon neutrality, and the scale level is 100 billion yuan.
With such a huge capital demand, government funds can only cover a small part of it, and the gap must be made up by market funds.

　　As a platform for pricing carbon assets, my country's carbon emissions trading market is currently not large.
Statistics show that as of December 2020, the cumulative trading volume of carbon emission market allowances in the eight pilot provinces and cities is about 445 million tons of carbon dioxide equivalent, with a turnover of 10.
4 billion yuan.
Many organizations predict that with the landing of the national carbon emission rights trading market, by 2030, when carbon reaches its peak, the cumulative trading volume of my country's carbon market is expected to exceed 100 billion yuan.

　　According to Wang Tingting, a researcher at the Hainan Provincial Green Finance Research Institute, my country’s current carbon market is mainly conducted by companies with real carbon emission requirements for spot transactions, with low activity and discontinuous prices.
On the other hand, in the carbon market of developed countries, most of the transactions come from financial products with spot as the target.
Financial institutions such as banks, insurance, funds, etc.
can participate in the carbon market through carbon financial products.

　　A report by the Research Bureau of the Central Bank pointed out that to cultivate an active trading and nationally unified carbon emission rights market, trading institutions should be given greater flexibility in terms of trading methods and explore carbon emission trading venues to carry out continuous trading under the premise of strict supervision.
And call auctions.
At the same time, appropriately relax access, and encourage relevant financial institutions and carbon asset management companies to participate in market transactions and innovate product tools.

　　"Before, Shenergy participated in the carbon forward simulation transaction jointly organized by the Shanghai Clearing House and the Shanghai Environment and Energy Exchange, and achieved the first place.
The carbon financial products that the market can explore in the future include carbon forwards, carbon funds, and carbon allowances.
Pledge, etc.
" Liu Xian said, carbon financial products are conducive to discovering and stabilizing the price of carbon, while also bringing liquidity to the carbon market.
As the carbon market matures, carbon finance will play an increasingly important role in it.