Home Business The performance of the national carbon market in 2021 exceeds expectations. In 2022, we will explore the promotion of carbon finance innovations such as forward transactions

The performance of the national carbon market in 2021 exceeds expectations. In 2022, we will explore the promotion of carbon finance innovations such as forward transactions

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Original title: The performance of the national carbon market in 2021 exceeds expectations. In 2022, we will explore the promotion of forward trading and other carbon financial innovations

CCB News, Beijing, January 1 (Reporter Lv Hongqiao) According to a report by the Voice of Economy of China Central Radio and Television “Tianxia Finance”, the first compliance cycle trading data of the national carbon emission trading market has been released, and the cumulative trading volume of carbon emission allowances is 1.79 Billion tons, the cumulative transaction volume exceeded 7.6 billion yuan, and the fulfillment rate was 99.5%, exceeding expectations. The Shanghai Environmental Energy Exchange revealed that the national carbon market will be expanded and upgraded to increase trading activity, and it will also explore the promotion of carbon financial innovations such as forward trading and swap trading.

A total of 2,162 key emission units in the power generation industry were included in the first compliance cycle of the national carbon market, covering an annual greenhouse gas emissions of approximately 4.5 billion tons of carbon dioxide. From the official launch of the transaction on July 16, 2021, to December 31, the national carbon market ran 114 trading days, with a cumulative trading volume of 179 million tons of carbon emission allowances and a cumulative trading volume of 7.661 billion yuan. Liu Jie, general manager of Shanghai Environment and Energy Exchange, assessed that the performance of the national carbon market exceeded expectations.

Liu Jie said: “More than half of the key emission units have participated in market transactions. Calculated according to the amount of compliance, the compliance completion rate of the national carbon market in 2021 reached 99.5%, which exceeded expectations. It can be seen that our nationwide There is still a lot of room for the development of the carbon market.”

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From the perspective of transaction prices, the closing price of the national carbon market on the last trading day of 2021 is 54.22 yuan per ton, which is 13% higher than the opening price of the first trading day. Since the market started trading, the price has been high at both ends and low at the middle. The price fluctuates around RMB 45 per ton on most trading days. According to Xu Jintao, deputy dean of the National Development Research Institute of Peking University and director of the Center for Environmental and Energy Economics, the transaction price of carbon allowances is also better than expected.

Xu Jintao said: “Like the first phase of the European Union, the highest (per ton) was 5 Euros. Now ours (price) is equivalent to 5-6 Euros. I think it’s pretty good to have such an achievement, and it’s better than I thought. Because Carbon peaks only in 2030, and carbon emission indicators are not a scarce product before then.”

From the perspective of transaction volume, about 3/4 of the transaction volume was completed in the month of December 2021. In other words, the market has the strongest willingness to trade and the highest level of trading activity during the period approaching the deadline for performance. Zhang Xiliang, head of the technical expert group for the overall design of the national carbon emissions trading system and director of the Institute of Energy, Environment and Economics of Tsinghua University, said that in 2022, the national carbon market will continue to increase trading activity.

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Zhang Xiliang believes: “Third-party investment institutions should be allowed to enter the transaction, which will activate the carbon market to increase the transaction volume. Another very important thing is that we now need to expand the coverage from the power industry to multiple industries as soon as possible. Giving full play to the benefits of the carbon market, in addition, may also have a great effect on activating the carbon market and active trading.”

Liu Jie revealed that the two industries of building materials and non-ferrous metals are currently carrying out research and preparations related to carbon emissions trading. It is expected that the progress will be relatively fast. The time of inclusion of other industries is still uncertain. Strive to basically include them during the 14th Five-Year Plan . The time for investment institutions to enter the venue is still being studied, and the competent authorities have held meetings and discussed many times, and are still doing some preparatory work. In addition, he also revealed the progress of carbon finance innovation.

Liu Jie said: “In terms of carbon finance innovation, we will have some key product innovations to promote in 2022. We will carry out some corresponding explorations in carbon finance, such as carbon emission rights pledge, carbon repurchase, carbon lending and other carbon financial services. There are also some (innovations) that enhance the vitality of the carbon finance market, such as the introduction of forward products and swap derivatives.”Return to Sohu to see more


Disclaimer: The opinions of this article only represent the author himself. Sohu is an information publishing platform. Sohu only provides information storage space services.

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