Monthly topic: carbon market with Chinese characteristics
The design of China’s carbon market has both advantages and disadvantages. The main disadvantage is that the design of “carbon intensity + baseline method” makes enterprises have a natural tendency to perform transactions, while the insufficient use of carbon financial instruments makes the carbon market less liquid. Both are not conducive to the stability of carbon price. In order to achieve the “30.60” goal, China’s carbon market will strive to improve the rationality and stability of carbon price from at least five aspects in the future, and may bring corresponding investment opportunities.
Green economy and Finance
Twelve departments including the national development and Reform Commission emphasize green and low-carbon development
Carbon emission trading: the national carbon price rose slightly, with the highest trading volume in Guangdong
Green energy index: it showed a downward trend in the month, outperforming the CSI 300 index
Carbon neutral theme Fund: withdraw more in the month, and the return rate in the year is all negative
Traditional energy and environmental protection
Implementation Guide for energy conservation, carbon reduction, transformation and upgrading in key areas of 17 high energy consuming industries (2022 version)
National Standing Committee: increase coal supply and support coal power enterprises to make more efforts
Suntar Environmental Technology Co.Ltd(688101) : sign EPC contract for 210 million yuan battery grade lithium carbonate project
New energy and power equipment
The weekly average price of polycrystalline silicon compact increased by 1.3% month on month, the price of M6 monocrystalline silicon increased by 0.6% month on month, and the price of M6 battery was flat month on month
New materials and nonferrous metals
The price of energy metal lithium continued to rise, and the price of industrial metal fluctuated upward
Investment advice
Electric power and public utilities: it is recommended to pay attention to relevant companies in clean energy technology, carbon monitoring and other businesses; The increase of electricity price is conducive to the performance improvement of power plants. It is recommended that China National Nuclear Power Co.Ltd(601985) , China Yangtze Power Co.Ltd(600900) , Sdic Power Holdings Co.Ltd(600886) , China Three Gorges Renewables (Group) Co.Ltd(600905) , Shenergy Company Limited(600642)
Coal: recommend China Shenhua Energy Company Limited(601088) , Guizhou Panjiang Refined Coal Co.Ltd(600395) , and pay attention to Shan Xi Hua Yang Group New Energy Co.Ltd(600348)
New energy: in terms of photovoltaic, it is suggested to pay attention to silicon wafer consumables (diamond wire and thermal field) and other links with a relatively good pattern; In terms of wind power, it is suggested to pay attention to the offshore wind power sector and recommend leading enterprises of pipe piles and submarine cables
New materials: it is suggested to focus on the leading energy metal enterprises Zhejiang Huayou Cobalt Co.Ltd(603799) , Tianqi Lithium Corporation(002466) , Chengxin Lithium Group Co.Ltd(002240) , Nuode Investment Co.Ltd(600110) benefiting from carbon neutralization and rapid growth in demand
Nonferrous Metals: focus on the continuous release of future production capacity Zijin Mining Group Company Limited(601899)
