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Does CBF have carbon futures?
165438+1On the evening of October 5th, the Ministry of Industry and Information Technology, the People's Bank of China, the China Banking Regulatory Commission and the China Securities Regulatory Commission jointly issued the Guiding Opinions on Strengthening the Integration of Federation of Industry and Commerce and Promoting the Green Development of Industry (hereinafter referred to as the Guiding Opinions).

Among them, clearly increase the support for green financing, support qualified green enterprises to go public for financing and refinancing, and support "hard technology" enterprises to go public on the science and technology innovation board. In addition, the Guiding Opinions also clearly innovate green financial products and services, and support the Guangzhou Futures Exchange to build a carbon futures market.

The four departments rarely issue documents.

165438+1On the evening of 5 October, the four departments jointly issued the Guiding Opinions on Strengthening Industrial Integration and Promoting Industrial Green Development, demanding the establishment of a sustainable industrial integration path, and promoting the construction of an industrial system in which industrial green low-carbon transformation and industrial empowerment green development are mutually promoted and deeply integrated.

It is reported that the Guiding Opinions have 32 basic principles, which are promoted and demonstrated by the government; Market-oriented, improve efficiency; Innovation-driven, key breakthroughs; Mutual promotion and systematic development.

It is clear in the Guiding Opinions that by 2025, the industrial integration mechanism will be basically mature, the green financial standard system that meets the characteristics and needs of the industry will be more perfect, the green information disclosure mechanism of industrial enterprises will be more perfect, and the services of industrial integration platforms will be further optimized.

At the same time, financial products and services that support industrial green development are more abundant, and all kinds of factor resources are constantly gathering in green and low-carbon fields. Industrial enterprises that strive for financial support have become carbon emission reduction benchmarks, effectively supporting the realization of peak carbon dioxide emissions and carbon neutrality, ensuring that industry and finance share the fruits of green development, and people share the beautiful life of harmonious coexistence of industrial civilization and ecological civilization.

Previously, China has issued the Opinions on Fully, Accurately and Comprehensively Implementing the New Development Concept and Doing a Good Job of Carbon Neutralization in Peak CO2 Emission and the Action Plan for Peak CO2 Emission by 2030.

Clearly put forward the construction of carbon futures market.

The Guiding Opinions proposes that various monetary policy tools should be used to guide financial institutions to expand the supply of green credit and reasonably reduce the comprehensive cost of corporate financing. Encourage banking financial institutions to improve credit management policies, optimize the credit approval process, guide the allocation of credit resources by adjusting internal capital transfer pricing, actively develop green credit and energy efficiency credit, promote the green transformation of "two high" projects, and give key support to industrial green development projects.

At the same time, study and orderly expand the scale of green bond issuance, and encourage qualified enterprises to issue medium and long-term green bonds. Support qualified green enterprises to go public for financing and refinancing, and reduce financing costs.

In addition, relying on the evaluation of scientific and technological attributes, we will study and establish a guiding mechanism for the cultivation of green scientific and technological enterprises and support the listing of "hard-tech" enterprises on the scientific and technological innovation board; Encourage the promotion of the Belt and Road Green Investment Principle (GIP), further develop cross-border green investment and financing, and support the development of low-carbon investment in the Belt and Road.

In terms of innovative green financial products and services, it is clear in the Guiding Opinions that financial institutions are encouraged to develop climate-friendly financial products, Guangzhou Futures Exchange is supported to build a carbon futures market, and carbon financial services are standardized.

In this regard, Zhao Yue believes that the carbon trading market in the EU is relatively mature and market-oriented, and about 80% of the trading volume comes from carbon futures. Establishing a carbon futures market model will help participating enterprises find the lowest transaction cost as much as possible.

In addition, for the purpose of building a carbon market, Zhao Yue said that it is to reduce the carbon emissions of participating enterprises by increasing the cost of carbon emissions. At present, the national carbon trading pilot is a regional segmentation market, which means that cross-market trading cannot be realized, and the lack of carbon derivatives at present eventually makes hedging difficult to achieve.

"In addition, from past experience, many companies prefer to trade near the performance period, and the trading volume and carbon price between the performance period and other times are bound to be different. At this time, the government and exchanges need to introduce relevant policies and regulations to guide enterprises to conduct more reasonable and healthy carbon trading behavior, which means that the short-term risk management of the carbon market requires the intervention of the government and exchanges, and marketization is difficult to solve. " Zhao Yue said.