On December 27th, the “China Carbon Emission Registration And Clearing Company - Industrial Bank National Carbon Market Carbon Emission Quota Spot Pledge Index” product, developed by Industrial Bank in cooperation with China Carbon Emission Registration and Clearing Co., Ltd, was officially launched.
“The Index” aims to comprehensively reflect the overall level and trend of the assessment value of carbon emission quota spot pledges in the national carbon market. The carbon quota pledge business included in the calculation covers many commercial banks and carbon asset management companies, aiming to accurately reflect the overall trend of carbon pledge prices. The index calculation rules take into account both scientific rigor and fairness, effectively and promptly reflecting the commercial banks and other institutions’ valuation of carbon quota prices.
“The index is of great reference value for the development of carbon quota pledge business, and will provide a pricing basis for carbon finance business, further promoting the benign interaction between carbon reduction and carbon market development, and helping to facilitate the low-carbon transformation and development of China’s economy and society,” said the person in charge of the Green Finance Department of Industrial Bank.
It is worth mentioning that recently the Harbin branch of Industrial Bank has landed the nation’s first carbon quota pledge loan based on the index, providing a loan of 10 million yuan to Wanli Runda Biotechnology Co., Ltd. in Heilongjiang Province, which has played a good demonstration role in promoting the use of the index products.
The establishment of a unified national carbon emission trading market is a major institutional innovation that uses market mechanisms to control and reduce greenhouse gas emissions. It is also an important policy tool to strengthen the construction of ecological civilization and fulfill international emission reduction commitments. On July 16, 2021, the national carbon emission trading market was launched and trading began in China, making it the largest carbon trading system in the world in terms of coverage. Since its operation, the market has maintained stable prices and shown initial effectiveness in promoting emission reduction, becoming another highlight in China’s implementation of the “Dual Carbon” strategy process.
As a pioneer in the domestic carbon finance field, Industrial Bank has been focusing on the construction of national and local carbon markets for many years. It continuously improves the “dual carbon” financial service system through various levels, including carbon trading basic financial services, carbon finance product innovation, and low-carbon transformation of emission control enterprises.“The Industrial Bank will continue to use ‘financing + intelligence’ as the carrier and ‘carbon rights + carbon sinks’ as the target, further enhancing its comprehensive service capabilities, and contributing greater energy to achieve the strategic goal of ‘dual carbon’.” The person in charge of the Green Finance Department of the Industrial Bank said.