With the deepening of the concept of green, low-carbon and sustainable development, green finance has become a major development strategy of many banks, and has launched innovative financial products.
Recently, the first financial reporter noted that China Citic Bank Corporation Limited(601998) announced that its internal beta version of “CITIC carbon account” for individual users has been launched online, and thousands of users have been publicly invited to participate in the test experience. This is the first personal carbon account launched under the leadership of Bank Of China Limited(601988) government. The internal beta version has been launched to handle the carbon emission reduction accounting of low-carbon behaviors such as living payment online (including water fee, electricity fee, gas fee, etc.), applying for electronic credit card and opening electronic bill. The corresponding emission reduction behaviors can be converted into points in exchange for relevant rights and interests.
In addition to China Citic Bank Corporation Limited(601998) , Shanghai Pudong Development Bank Co.Ltd(600000) , China Construction Bank Corporation(601939) , Qujiang rural commercial bank and other banks have also tried and explored carbon accounts. In the view of insiders, carbon account is a major entry point for building a green and low-carbon bank. Through carbon account, banks can imperceptibly cultivate customers’ green and low-carbon awareness, help the development of green life and promote the development of carbon inclusive at the same time.
several banks launched carbon account system
When people talk about green finance, what changes will green finance bring to our lives? The banking industry has brought us an answer, namely “carbon account”.
It is reported that the carbon account launched by China Citic Bank Corporation Limited(601998) mainly relies on the development and construction of the bank’s credit card “mobile card space” app, which automatically collects personal low-carbon behavior data under different life scenes through user authorization, and calculates the carbon emission reduction of various life scenes in real time according to the continuously iterative and optimized emission reduction factor model.
Some analysts said that the carbon account is a carbon emission reduction support system including carbon emission data collection, carbon accounting, carbon emission rating evaluation and scenario application, which can help enterprises and residents settle the “carbon account” and improve the efficiency and awareness of emission reduction.
According to the calculation and prediction of “CITIC carbon account”, China Citic Bank Corporation Limited(601998) credit card users can reduce carbon emissions by more than 2 million tons through low-carbon behavior in online financial services every year, and the carbon emission reduction market potential of users in the future is huge.
For individual users, the use method of “carbon account” is also very convenient. According to China Citic Bank Corporation Limited(601998) relevant persons, the first batch of experience officers can log in to the bank’s credit card “mobile card space” app to open personal carbon accounts online, obtain the carbon emission reductions associated with personal low-carbon behaviors, and provide optimization suggestions for the internal beta function of carbon accounts.
The first financial reporter learned that at present, the bank’s carbon account beta version has been online, and the carbon emission reduction accounting of low-carbon behaviors such as life payment online, application for electronic credit card and opening electronic bill has been carried out; The upcoming public version will also include richer green and low-carbon life scenes such as green travel and second-hand recycling.
(picture source: China Citic Bank Corporation Limited(601998) )
In addition to China Citic Bank Corporation Limited(601998) , Shanghai Pudong Development Bank Co.Ltd(600000) , China Construction Bank Corporation(601939) , Qujiang rural commercial bank and other banks have also made many attempts in carbon accounts. For example, on November 3 last year, Shanghai Pudong Development Bank launched a set of three-dimensional carbon account system for enterprises and individual customers. Relying on this system, on the one hand, the bank will identify the carbon emissions of enterprises and individuals and provide differentiated fast settlement, cheaper funds and more flexible services for all enterprises and individuals that reduce and fix carbon; On the other hand, it also provides customers with more rights and interests linked to green consumption and credit.
Specifically, carbon accounts advocate and encourage carbon reduction actions of enterprises and individual customers in the form of carbon credits. For example, the carbon credits of the enterprise’s carbon account are derived from the carbon dioxide emission reductions corresponding to its green finance business in Shanghai Pudong Development Bank Co.Ltd(600000) City, such as green credit, green bonds and other businesses, which can form the corresponding carbon credits. Based on the cumulative amount of carbon credits, the carbon accounts of enterprises will correspond to different levels and enjoy different rights and interests. The personal carbon account focuses on the daily life of customers. Individual customers can obtain the corresponding equity level and gift exchange through accumulated points such as online life payment and offline green travel.
China Construction Bank Corporation(601939) in terms of personal “carbon account book”, it is planned to build a customer’s personal “carbon account book” and provide personal financial services such as credit card quota upgrading, installment benefits, bank card consumption discount, payment preference, integral mall equity exchange based on the “carbon account book”. The main service object of the project is China Construction Bank Corporation(601939) individual customers. The user scope and service scale are reasonably determined according to the principle of risk control. It is expected to serve 1 million individual customers per year; In terms of Qujiang rural commercial bank, Quzhou Central Branch of the central bank actively promoted the application of personal carbon account finance scenario, launched “point carbon into gold loan” for individual customers, divided customers into “dark green”, “medium green” and “light green” according to individual carbon points, and provided differentiated preferential policies in “credit line, loan interest rate and handling process”.
In the view of many industry insiders, more banks may join the ranks of carbon accounts in the future. A university professor with in-depth research on green finance told reporters that for banks, setting up carbon accounts can cultivate customers’ green and low-carbon awareness and promote green life on the one hand; On the other hand, it is also a key move to build a green bank, which helps to better connect green finance with users’ life scenes.
Tang Yongjun, a professor of finance at the University of Hong Kong, told reporters that it is necessary for enterprises and individuals to have carbon accounts, which is also the development trend in the future. In fact, some foreign banks have opened personal carbon accounts before, so that the public can participate in green finance. However, compared with enterprises, the overall scale of personal carbon finance is small, but it has great demonstration significance. In the future, with more banks joining, it is expected that the relevant standards will be unified.
help carbon inclusive ecosystem construction
The establishment of individual carbon accounts is also regarded as an important part of carbon inclusion. The establishment of bank individual carbon accounts will bring some reference significance to the region. At present, many places are exploring the establishment of regional individual carbon accounts to build a sustainable carbon inclusive ecosystem.
For example, in February this year, Shanghai released the work plan for the construction of Shanghai Carbon inclusive mechanism (Draft for comments) (hereinafter referred to as the draft for comments), saying that Shanghai will explore the establishment of regional individual carbon accounts, guide carbon inclusive emission reductions to enter the Shanghai carbon emission trading market through the offset mechanism, support and encourage Shanghai regulatory enterprises to purchase carbon inclusive emission reductions, and complete the payment and performance of carbon emission trading through the offset mechanism.
Some analysts said that this is mainly to calculate the carbon dioxide emissions reduced by citizens’ green travel, garbage classification and other low-carbon behaviors, turn them into “carbon points” in everyone’s account, and then exchange the corresponding rights and interests through docking with Shanghai carbon trading market and various commercial consumption platforms.
According to the exposure draft, Shanghai will also explore financial products and services related to carbon inclusive emission reduction, tap the potential value of carbon inclusive emission reduction, try to develop various financial services such as pledges based on carbon inclusive emission reduction, and revitalize carbon assets owned by enterprises, individuals and other entities; Explore the integration of carbon inclusion into the comprehensive evaluation system of enterprises and individuals, integrate the carbon emission reduction behavior of enterprises into the environmental credit evaluation system, and study the integration of individual carbon emission reduction behavior into individual public credit records.
In addition, at the transportation work conference held in January this year, Beijing also proposed that Beijing would upgrade the carbon inclusive incentives for green travel, explore and study personal carbon accounts, and promote the transformation from private car travel to green intensive travel.
Shenzhen issued the work plan for the construction of Shenzhen carbon inclusive system in November last year, which proposed to quantify the energy-saving and carbon reduction behaviors of small and micro enterprises, community families and individuals and give them some value. The plan also makes it clear that it is necessary to establish and improve the financial support policies related to the carbon inclusive system in Shenzhen, such as exploring the opening of personal carbon accounts, issuing carbon credit cards, and establishing a credit system linked to personal low-carbon behavior.
Zhao Yue, assistant researcher of Chongyang National People’s Congress, believes that the essence of personal carbon account is an inclusive mechanism. It is not to use personal carbon account to achieve direct emission reduction, but to provide incentives through personal green behavior. At the same time, this is also the biggest advantage of personal carbon account, that is, to reduce carbon emissions from the consumer side, rather than directly control carbon emissions at the production side like carbon trading.
