On August 17, the Yunnan Provincial Committee of the Chinese People's Political Consultative Conference (CPPCC) issued the 12050345 on Countermeasures and Suggestions on Carbon Emission Reduction in Yunnan Province, suggesting that the financial sector should vigorously promote green finance and actively support low-carbon emission reduction.
Firstly, it is suggested that local legal person financial institutions that have not started green credit business should gradually carry out their business and increase their support to key areas of wind power and photovoltaic power in Yunnan Province.
The second is to actively promote the landing of carbon emission reduction tools, under the carbon trading mechanism, carbon assets have a clear market value, giving full play to the financial attributes of carbon assets as collateral for credit enhancement.
Third, financial institutions are encouraged to actively innovate financing products such as pledge, asset securitization, guarantee and refinancing, so as to help the performing enterprises broaden their financing channels.
Fourthly, the People's Bank of China provides low-cost funds to eligible local corporate financial institutions, supports financial institutions to provide preferential interest rate financing for key areas with significant carbon emission reduction effects, and guides financial institutions to support green and low-carbon development in accordance with market-oriented principles. Fifthly, the concept of green development should be integrated into the economic recovery plan after the epidemic, such as the inclination of new investment to green projects as far as possible, and the conditions of "emission reduction and efficiency improvement" should be attached to the relief plan.
In addition, it is suggested to put forward a number of countermeasures and suggestions on carbon emission reduction technology and carbon emission trading. Details are as follows:
In recent years, the issue of global warming has attracted much attention. Climate change is a global problem that human beings are facing. With the emission of carbon dioxide in various countries, greenhouse gases are soaring. Excessive carbon emissions are considered to be an important reason for global warming. In the long run, global warming continues to pose a threat to the life system, which will directly affect the existence of life on the earth and threaten the survival and development of human beings.
For a long time, the development of China's national economy has been deeply dependent on fossil energy. China is the world's largest coal producer, importer and consumer, as well as the world's largest carbon emitter. The problems of high energy consumption and low efficiency in national production activities are prominent and need to be solved urgently.
1. Problems
in carbon emission reduction in Yunnan (1) In the long run, Yunnan's energy consumption per unit GDP is relatively high, and the pressure of energy conservation and emission reduction is relatively high. High energy-consuming industries in Yunnan Province account for a high proportion in the industrial structure, such as Kunming Iron and Steel, Yunnan Tin Industry, Yunnan Copper Industry and other resource-dependent high energy-consuming enterprises are relatively concentrated. At present, the situation that Yunnan relies on resource consumption to develop its economy has not changed. For Yunnan Province, which is a pilot province for the development of low-carbon economy in China, the pressure of emission reduction will be greater. As one of the provinces with the most complete natural resources and relatively abundant reserves in China, mineral mining and processing activities have long been the main source of carbon dioxide emissions in Yunnan. With the deepening dependence of global economic development on science and technology, the demand for raw materials such as metals and rare earths, as elements supporting the development of science and technology, will continue to grow. Therefore, the role of mineral mining and processing activities in Yunnan Province in national and local economic development is difficult to be replaced in the short term, and the resulting carbon dioxide emissions are difficult to completely avoid.
(2) The participation of Yunnan enterprises in the carbon trading market is relatively low at the present stage. At this stage, the carbon trading market enterprises are limited to the power industry, according to the screening conditions: first, the key enterprises that have been closed and stopped production are not included; second, the key emission units that only have the units that are not included in the quota management are not included. At present, carbon trading is limited to enterprises in the power generation industry, and the participation of Yunnan enterprises is limited.
2. Countermeasures and suggestions
(1) Governments at all levels and relevant departments should lay out scientifically and implement various measures for Yunnan to strive for a carbon peak and carbon neutral demonstration province. First, we should consolidate the main responsibilities of local governments at all levels and continue to strengthen the hard constraints on carbon emissions. Focusing on the total carbon emission control target of Yunnan Province issued by the state, comprehensively considering the economic and social development, total energy consumption (increment), energy consumption structure adjustment, energy consumption intensity, carbon intensity reduction and other targets of the province, the carbon emission data of different industries in Yunnan Province are calculated, the total carbon emission and intensity control targets of the province are studied and determined, and the top ten enterprises in carbon emission are formulated. Secondly, the Development and Reform Commission, the Environmental Protection Commission, the Industrial Informatization Commission and other relevant departments jointly establish a normalized joint meeting mechanism, formulate a comprehensive emission reduction plan in combination with the industrial development plan of Yunnan Province, improve the relevant reward and subsidy policies, give preferential treatment from the aspects of finance, taxation and monetary policies, and fully mobilize the enthusiasm of enterprises for carbon emission reduction. Third, the implementation of the list system management. Combining with the key tasks of carbon emission reduction in Yunnan Province in 2021, the list of wind power, hydropower, photovoltaic enterprises and key green development enterprises that need to be focused on will be published in time to solve the problems that need to be solved in the process of development. The fourth is to fully implement the "Implementation Plan for Implementing the Construction of the National Carbon Emission Trading Market in Yunnan Province" issued by the People's Government of Yunnan Province in March 2021 and put forward the work objectives for that year: reserve a certain number of carbon emission quotas, tap a number of potential carbon trading projects, establish a feasible reserve system, and train a solid carbon trading technology team. China (Yunnan) Free Trade Pilot Area has initially formed a resource reserve system for carbon emissions trading in line with the actual situation of Yunnan Province, effectively promoting and actively integrating into the construction of the national carbon emissions trading market.
(2) Mobilize enterprises and relevant units to participate actively, seize key industries and strive to upgrade carbon emission reduction technologies. First, enterprises and relevant units should raise awareness of green development, fully understand the importance of carbon emission reduction to sustainable development of enterprises, attach importance to the publicity of green development policies, and generally participate in carbon emission reduction actions. Second, to implement carbon emission reduction in Yunnan, we should actively cooperate with relevant departments to carry out carbon account monitoring for key emission enterprises such as thermal power, cement and steel. Thirdly, if conditions permit, the energy loss will be gradually reduced through equipment upgrading, and the carbon capture and storage technology (CCS) will be used to separate and transport the carbon dioxide emitted into the air, as well as to achieve long-term disposal of carbon dioxide through geological storage and other processes.
(3) The financial sector vigorously promotes green finance and actively supports low-carbon emission reduction. First, at the end of the second quarter of 2021, the balance of green loans of financial institutions in China was 13.92 trillion
yuan, with a year-on-year growth rate of 26.5%, while the balance of green loans in Yunnan Province was 361.697 billion yuan, with a year-on-year growth rate of 11.94%, less than half of the national growth rate. Yunnan's green credit accounts for 80.04% of the green financing scale, and green bonds account for 56.9 billion yuan, accounting for 12.59%. Therefore, it is suggested that local legal person financial institutions that have not started green credit business should gradually carry out their business and increase their support for key areas of wind power and photovoltaic power in Yunnan Province. The second is to actively promote the landing of carbon emission reduction tools, under the carbon trading mechanism, carbon assets have a clear market value, giving full play to the financial attributes of carbon assets as collateral for credit enhancement. Third, financial institutions are encouraged to actively innovate financing products such as pledge, asset securitization, guarantee and refinancing, so as to help the performing enterprises broaden their financing channels. Fourthly, the People's Bank of China provides low-cost funds to eligible local corporate financial institutions, supports financial institutions to provide preferential interest rate financing for key areas with significant carbon emission reduction effects, and guides financial institutions to support green and low-carbon development in accordance with market-oriented principles. Fifthly, the concept of green development should be integrated into the economic recovery plan after the epidemic, such as the inclination of new investment to green projects as far as possible, and the conditions of "emission reduction and efficiency improvement" should be attached to the relief plan.
(4) Encourage more institutions to participate in carbon emissions trading and enhance the pricing authority and trading efficiency of the carbon financial market. On July 16, 2021, the online trading of the national carbon emissions trading market was officially launched. According to the operation situation, access should be relaxed appropriately in the future, and more relevant financial institutions and carbon asset management companies should be encouraged to participate in market trading and innovate product tools. Explore the establishment of carbon finance industry self-discipline mechanism. We should foster intermediaries and markets, and encourage the development of intermediaries for financing, investment, security and information consulting services. We will encourage the deep integration of digital technology and carbon finance, and provide more support in customer screening, investment decision-making, transaction pricing, post-investment/loan management, information disclosure and investor education by using advanced technologies such as big data, blockchain and intelligent investment.
(Five) improve the relevant laws, regulations and departmental rules on carbon emissions. It is suggested that the attributes of carbon emission rights should be clarified at the legal level. It is suggested that in the implementation of the Civil Code, the legal attributes of environmental rights and interests, including carbon emission rights, and whether they can be pledged should be further clarified. At the level of departmental regulations, it is suggested to formulate carbon financial market supervision and trading management policies, and unify market supervision, trading system, legal liability, incentive and restraint mechanism, accounting and tax treatment.
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