Recently, the first personal carbon account launched under the leadership of Bank Of China Limited(601988) launched in-house test, which will provide important reference value for understanding the current people’s attitude and practice of low-carbon life. At the same time, the bank is also accelerating the implementation of special loans related to carbon emission pledge, which will play a positive role in enterprises’ active participation in low-carbon emission reduction and the implementation of carbon inclusive mechanism.
personal carbon account system is being accelerated
Recently, China Citic Bank Corporation Limited(601998) announced that the internal beta version of “CITIC carbon account” launched for individual users was launched online, and thousands of users were publicly invited to participate in the test experience. This is the first individual carbon account launched by Bank Of China Limited(601988) under the guidance of Shenzhen ecological environment bureau and Shenzhen banking and Insurance Regulatory Bureau, through cooperation and exchange with Shenzhen emission rights exchange and Shanghai Environment Group Co.Ltd(601200) energy exchange and joint research and development with China Huixin Carbon Asset Management Co., Ltd., a professional institution in China.
It is understood that the beta version of “CITIC carbon account” will automatically collect personal low-carbon behavior data under different life scenarios through user authorization, and accumulate personal carbon emission reductions through scientific measurement methods, so as to encourage users to practice the concept of green and low-carbon life China Citic Bank Corporation Limited(601998) said that every year, the bank’s credit card users can reduce carbon emissions by more than 2 million tons through low-carbon behavior in online financial services. There is great potential for individual users to reduce carbon emissions in the future.
As for the role of launching individual carbon accounts, Yuan Shuai, Deputy Secretary General of Rural Revitalization and Construction Committee of China Cultural Management Association, told the reporter of Securities Daily that as an important participant in the process of capital trading, banks can advocate low-carbon emissions in the process of capital access and trading. The launch of carbon account, with “low-carbon rights and benefits for the public” as the core, specifically quantifies the energy-saving and carbon reduction behaviors of communities, families and individuals and endows them with certain value. Through low-carbon behavior, scientific measurement methods and accounting measurement transformation standards are constructed. Based on energy-saving and emission reduction scenarios such as green travel, green consumption and green life, users can record and query personal carbon emission reduction data in real time, And interconnected with the carbon trading market platform to form a lasting and universal green lifestyle, so as to encourage users to practice the concept of green and low-carbon life, which is of green and sustainable significance.
The reporter noted that in fact, many banks have made attempts to establish a personal carbon account system. For example, in November last year, Shanghai Pudong Development Bank Co.Ltd(600000) announced the comprehensive upgrading of the green financial service system and took the lead in launching a carbon account system suitable for enterprises and individuals. Carbon accounts advocate and encourage carbon reduction actions of enterprises and individual customers mainly in the form of carbon credits.
In addition, at the beginning of March this year, China Construction Bank Corporation(601939) declared “personal financial services based on ‘carbon ledger’ to the Beijing Financial Technology Innovation regulatory tool implementation working group”. It is reported that “carbon service” is mainly based on personal accounts.
Industry insiders generally suggest that individual consumers should be included in the carbon emission trading system to encourage more people to pay attention to and participate in the realization of the “double carbon” goal and task, but China has not yet launched relevant mechanisms. Xu Guangqing, director of the Department of environment and resource economics of Renmin University of China, told the Securities Daily, “bringing individual carbon emission reductions into the carbon trading system plays a very important role in improving the awareness of the whole society to deal with climate change. In addition, individual participation in carbon market trading, improving market liquidity and promoting sound operation will further encourage the public to practice a low-carbon lifestyle.”
several banks have landed carbon emission quota pledge financing business
At present, we should speed up the exploration of the layout of enterprises in the carbon market. In terms of finance, in addition to green financial instruments such as green loans and green bonds, banks also focus on flexibly exploring and trying to innovate relevant financing instruments in carbon trading.
In July last year, the national carbon emission trading market was officially launched. On the premise of total emission control, enterprises can use carbon emission rights as assets for carbon market trading, and financial institutions can also issue pledged loans through the carbon emission quota approved and issued by the ecological environment department.
The reporter found that many banks have announced the implementation of carbon emission pledge loans. In February this year alone, Bank Of Communications Co.Ltd(601328) , Zijin rural commercial bank and Bank of Guizhou successively launched carbon emission quota pledge financing business. In addition, in February this year, the Hebei Provincial Energy Bureau signed the letter of intent on financial support for Hebei Province’s energy low-carbon transformation and development framework cooperation with nine financial institutions, including China Development Bank Hebei branch and Bank Of China Limited(601988) Hebei Branch. During the 14th Five Year Plan period, nine financial institutions set up a total of 510 billion yuan of carbon peak and carbon neutral special loans in the energy field, giving preferential interest rates Green channel and other credit policies and financial services have boosted the rapid adjustment of the province’s energy structure and ensured the safe and stable supply of energy in the province.
“Helping various industries revitalize carbon assets and help carbon trading is one of the important focus points for banks to seize opportunities and business innovation in the field of carbon finance.” Yuan Shuai said that at present, the Bank Of China Limited(601988) industry has actively sorted out the needs of carbon trading participants for carbon financial services, innovatively launched carbon financial products and services such as carbon emission right pledge loan, national certified voluntary emission reduction pledge credit and carbon forward transaction performance guarantee, so as to help enterprises revitalize carbon assets, expand the source of funds for green projects and reduce the financing cost of green projects, Serve economic and social development and make a comprehensive green and low-carbon transformation. Carbon Asset pledge loan is a financing mode for enterprises or supply chains to pledge loans with their existing or future available carbon assets as the subject matter. It is a concrete manifestation of carbon emission rights as enterprise rights.
However, banks also need to strengthen their capacity in the process of approval and post loan management of carbon emission related loans. Guo Haifei, deputy director of Green Innovation Office of CICA Advisory Committee, believes that the approval of carbon emission reduction loans needs to focus on judging the green and low-carbon attributes, carbon emission reduction and predicted environmental benefits of the project. After the loan, the actual carbon emission reduction and environmental benefits in the process of project construction and the disclosure of actual carbon emission reduction and environmental benefits after the completion of the project should be strengthened. Therefore, banks should pay attention to extending the loan period of carbon emission reduction loans to cover the whole construction process of the project, and require enterprises to regularly disclose the carbon emission reduction and actual environmental benefits during the project construction every year. Even after the project is completed and the loan is paid off, enterprises must also provide the actual carbon emission reduction and environmental benefits after one year of actual operation of the project, Ensure that carbon emission reduction loans are really used for green and low-carbon projects.
Yuan Shuai believes that next, in order to promote the healthy and efficient development of carbon finance market, banks should take the initiative to promote the construction of green finance and transformation finance standard system, improve incentives and constraints, develop diversified financial instruments, continue to deepen local pilot and international cooperation of green finance, and effectively support the green and low-carbon transformation of economy and society.
