Home News Enriching participants to further improve the national carbon market | Carbon Market_Sina Finance_Sina.com

Enriching participants to further improve the national carbon market | Carbon Market_Sina Finance_Sina.com

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Original title: Enriching participants and further improving the national carbon market

The national carbon market is approaching the first compliance cycle. While accelerating compliance work in various places, the national carbon market is also focusing on diversified market exploration and innovation and striding forward to a mature and complete carbon market.

On November 11, the Department of Ecology and Environment of Qinghai Province issued the “Announcement on Announcement of the List of Key Emissions Units that Qinghai Province Participated in the First Performance Cycle of the National Carbon Emission Trading Market”, which determined that Qinghai Yihua Chemical Co., Ltd., etc. 12 Power generation companies (including self-provided power plants) meet the key emission units that should pay their quotas in the first performance cycle.

On November 22, the Fujian Provincial Department of Ecology and Environment issued the “Announcement on the Payment of Carbon Emission Allowances of Key Emission Units in Fujian’s Carbon Market in 2020”, stating that a total of 284 key emission units will be included in the management of Fujian Province’s carbon emission allowances in 2020 ( Excluding power generation companies included in the national carbon market), a total of 126.0861.2 million tons of carbon emission allowances should be cleared. At present, the province’s key emission units have all completed the obligation to pay off carbon emission allowances for 2020, with a compliance rate of 100%.

On November 23, Hainan Province completed the allocation of carbon emission allowances for key emission units in the first compliance cycle of the national carbon emissions trading market. According to the Hainan Provincial Department of Ecology and Environment, in the next step, Hainan will strengthen the connection with the national carbon emission rights registration agency and the national carbon emission rights trading agency, and urge and guide key emission units in the power generation industry to complete the first compliance cycle of the national carbon market as soon as possible Quota clearance work to ensure the smooth completion of contract performance.

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As the end of the year is approaching the performance period, while the national and local carbon markets ensure that key emission units complete their compliance, the high-profile national carbon emission rights market is expected to enter a period of active trading. A reporter from the Futures Daily learned from the Shanghai Environment and Energy Exchange that as of November 24, the national carbon market had run 87 trading days, with a cumulative trading volume of 3,374,800 tons of carbon emission allowances in the national carbon market, and a cumulative trading volume of 1.391 billion yuan. Although my country’s carbon emission rights market has now become the world’s largest carbon market, it is still in its infancy in the country. Many industry figures told reporters that the national carbon market has been in operation so far, and it can be seen that currently only the power industry participates in carbon market transactions, and the market subject is relatively single. In addition, multiple reasons such as some key emission units maintaining a wait-and-see attitude and institutional investors have not yet entered the market have caused the national carbon market to be generally less active. If the carbon market is to play a supporting role in achieving the “dual carbon” goal, further exploration and improvement are needed.

A reporter from the Futures Daily checked the information and learned that the construction of the national carbon emission trading market adopted an innovative “two-city” model-the Shanghai United Property Rights Exchange was responsible for trading, and the Hubei Carbon Emissions Trading Center was responsible for registration. The Shanghai United Assets and Equity Exchange is the contractor, and the Shanghai Environment and Energy Exchange has specifically participated in the construction of the trading system as technical support. Regarding the issues raised by the above-mentioned industry professionals, what do the contractors in the trading market think? “The national carbon market has just started, and it is still in its infancy. It is still facing many problems and challenges. It needs to be continuously improved through longer-term policy practice, broader market exploration and participation by entities in order to make better use of carbon. The role of the market in supporting the realization of the “dual carbon” goal.” Zhou Xiaoquan, Secretary of the Party Committee and Chairman of the Shanghai United Assets and Equity Exchange, helped to achieve “Carbon Peak and Carbon Neutrality” and the third phase of 2021 Lujiazui at the ESG held on November 16 The “Energy + Finance” forum stated that they look forward to working closely with financial institutions to jointly promote the financialization of carbon trading, innovate carbon financial products, and develop the carbon financial market.

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The reporter learned from Zhou Xiaoquan’s speech that in the process of operating carbon allowances, financial institutions played a diversified role to promote the flow of carbon allowances and promote the development of the carbon market. In a nutshell, financial institutions mainly play eight major roles in the carbon market, including market intermediaries (that is, providing carbon trading agency services, market makers, packaged trading, speculation and profit, providing carbon trading derivatives), carbon futures, and carbon forwards. , Climate index-linked financial products, energy transition funds, market research, quota exchange and consulting services, etc. In the process of participating in the development of the carbon market, financial institutions use the carbon market as an investment channel to directly participate in carbon trading and activate the carbon trading market; provide financial intermediary services to carbon market participants to smoothly promote the transaction process; also participate in the promotion of carbon financial products The design and development of carbon financial services have increased the rate of return on investment in emission reduction projects, showing a mutually beneficial and win-win situation.

According to the plan, during the “14th Five-Year Plan” period, eight major energy-intensive industries, including petrochemicals, chemicals, building materials, steel, nonferrous metals, papermaking, electric power, and civil aviation, will gradually be included in the market. Recently, S&P Global Platts stated that the petrochemical industry may be included in the national carbon market from 2022 to 2023, and related work has already been initiated. Diversified market participants are a prerequisite for the carbon market to remain active. It is believed that as more and more energy-intensive industries are included in the national carbon market and continue to maintain close contact with financial institutions, the national carbon market will definitely be able to give full play to the carbon market. The role of the chemical mechanism on carbon emission reduction has helped to achieve the “dual carbon” goal.

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