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At present, 8 securities firms in the securities industry have obtained the qualifications for carbon emission trading business
Strengthening comprehensive financial service capabilities, securities firms “orderly enter” the carbon market
Source: Securities Daily reporter Zhou Shangtong
Trainee reporter Fang Chenchen
The carbon market is one of the important policy tools to promote the realization of my country’s “dual carbon” goals.
Since the official opening of the market on July 16, 2021, my country’s carbon market has operated steadily as a whole, and the transaction volume and price of carbon emission allowances have risen steadily, which has become an important means to reduce the total amount and intensity of carbon emission reduction.Shanghai environmentAccording to data from the Energy Exchange, as of February 9, the cumulative trading volume of carbon emission allowances (CEA) in the national carbon market was 230 million tons, and the cumulative trading volume was 10.496 billion yuan.
recently,CICC、Huatai Securities、Orient Securities、Shenwan Hongyuansecurities,CITIC Construction Investment5 other listed securities companies have announced that they have been approved to participate in the carbon emission trading business on their own. In this regard, a reporter from “Securities Daily” connected the above-mentioned companies to participate in carbon emission trading business preparations, significance, strategic deployment and other matters.
Actively set up a carbon finance business team
Explore carbon trading business
Carbon emission trading refers to the public trading of carbon emission quotas by carbon emission trading entities, which can enable enterprises to fulfill their carbon emission obligations through market-oriented means. Lan Hong, a professor at the Center for Ecological Finance at Renmin University of China, said in an interview with a reporter from Securities Daily, “The carbon market is a policy market built to achieve emission reduction goals. Sex and transaction volume, and promote the reduction of carbon emission reduction costs, thus reflecting the importance of financial means for achieving carbon emission reduction goals.”
At present, together with the 5 listed securities companies approved this time, a total of 8 securities companies in the securities industry have obtained the qualifications for carbon emission trading business. According to data from the China Securities Association, among the 75 securities companies that have taken specific measures to implement carbon neutrality, 15 have established dedicated carbon finance business teams or carbon finance business groups, accounting for 20%. Brokerages are promoting the realization of the “dual carbon” goal by piloting carbon quotas and China Certified Emission Reduction (CCER) transactions.
For example, CICC, which was approved for trading this time, replied to the reporter of Securities Daily, saying, “The company actively develops talent reserves for carbon finance business, promotes the establishment of internal business systems, investment research systems and risk control systems, and develops innovations in carbon financial products. Exploration has laid a solid foundation for the development of carbon trading business.” At the same time, the reporter learned from Orient Securities that “Orient Securities’ fixed income business Active preparations have been made for the construction of the control system and the research and development of the technical system.”
Shenwan Hongyuan Securities told the “Securities Daily” reporter, “The company has organized and held ‘carbon peak, carbon neutral’ special business research meetings for many times, focusing on the self-operated trading business of carbon emission rights, and giving full play to the role of financial institutions in serving entities. It plays an important role in sustainable economic development and promoting the realization of green and low-carbon society as a whole.”
CICC stated that in the next step, it will follow the relevant regulations and aim to serve the real economy, reduce the cost of emission reduction for the whole society, and promote the transformation and upgrading of the economy to a green and low-carbon economy. Comprehensive management system, based on customer demand for emission reduction, promote carbon emission trading and carbon financial products to be implemented as soon as possible.
It is expected to further strengthen the brokerage
Comprehensive financial service capabilities
Since the launch of the national carbon market, the market has operated in a stable and orderly manner, transaction prices have risen steadily, entities have participated in transactions in an orderly manner, and corporate awareness of emission reduction has continued to increase.
“In the original carbon trading market that only relies on mutual transactions between enterprises, information asymmetry will occur. The addition of securities companies can increase transaction volume, reduce transaction costs, increase information aggregation, and reduce information asymmetry. The price of carbon traded online provides a reference.” Lan Hong explained.
As an important intermediary in the capital market, securities firms are of great significance in carrying out carbon emission trading. CICC said, “Securities companies participating in carbon emission rights trading can diversify and enrich the carbon market from the dimensions of market liquidity, price discovery, information mining, and carbon financial instruments based on their own mature trading capabilities and risk control systems, and improve market transactions. The validity and continuity of the system will facilitate the discovery of a reasonable carbon price.”
Orient Securities, on the other hand, can rely on the advantages of its shareholders in the energy industry and its rich financial management experience to provide customers with carbon emission rights trading and risk management tools, including quotation and inquiry of carbon emission rights, carbon financial business consulting, research and other services , to help enterprises carry out cost control and transformation and development, and continuously improve the level of financial services for the real economy.
Of course, there will be both opportunities and challenges for securities companies to participate in carbon market transactions in the future. Shenwan Hongyuan Securities said, “The acquisition of the carbon emission rights self-operated trading business qualification has further strengthened Shenwan Hongyuan’s comprehensive financial service capabilities, and provided an opportunity to better participate in the construction of the carbon emission rights market, help the development of green and low-carbon industries, and serve the real economy. new path.”
CICC stated, “Participating in carbon emissions trading is a concrete practice of CICC in serving the national strategy. On the one hand, by conducting carbon emissions trading, CICC can give full play to the company’s mature trading capabilities and professional product creation capabilities to provide The real economy provides more low-carbon transformation solutions, effectively improving the depth and breadth of financial services for the real economy. On the other hand, participating in carbon emission trading can help enrich the company’s green investment varieties, build full-chain transaction capabilities, and improve green comprehensive services capacity, better embrace the historical opportunity of dual-carbon development and the new track of green development.”
Liu Jian, chairman of Shenwan Hongyuan Group Co., Ltd., said, “For securities companies, their participation in the development of the green financial industry is still relatively traditional, such as green enterprises, listing of green industries, green financing, and green bond issuance. Therefore, Participating in the construction of the carbon emission rights market in the future is an important strategic business for securities companies. The development of China’s carbon emission rights market is relatively preliminary now. There are both national markets and many local markets, and there are still few participants. Therefore, in the Internet market There is a lot of room for development in terms of interoperability, basic systems, regulatory policies, and even the construction of a market trading system.”
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