专访马骏：银行要把握好NDC对转型金融的催化机遇丨首席气候官

Core Insights - The article discusses the growing trend of green investment and the challenges faced by traditional high-carbon industries in securing financing for low-carbon transition projects. It highlights the emergence of transition finance as a focal point in global green finance efforts [2][3]. Group 1: Transition Finance - Transition finance is expected to experience explosive growth once policies, standards, and capabilities are in place, as the share of transition industries in the economy is significantly larger than that of pure green industries [3]. - The People's Bank of China has developed transition finance directories for four industries, and various local governments have begun to implement regional transition finance standards [3]. - Financial institutions must enhance their internal capabilities and processes to identify eligible clients and projects for transition finance, as many banks currently lack systematic processes for this [5][6]. Group 2: NDC and Market Opportunities - The upcoming announcement of China's Nationally Determined Contributions (NDC) targets is expected to create urgency for companies to establish short- and medium-term carbon reduction goals, making transition finance a necessity rather than an option [7]. - If financial institutions are unprepared to offer transition finance services when the NDC is announced, they risk missing valuable market opportunities [7]. Group 3: ESG Disclosure Gaps - Many entities, including banks, have not fully met the International Sustainability Standards Board (ISSB) requirements for ESG reporting, particularly in carbon-related disclosures [9][10]. - There is a notable lack of comprehensive transition plans among domestic enterprises and financial institutions, which should include specific short-, medium-, and long-term carbon reduction targets [10]. Group 4: Global Cooperation and Standards - The article emphasizes the need for global cooperation to establish unified ESG disclosure standards to reduce market fragmentation and transaction costs [12][16]. - The joint classification directory developed by China and Europe is highlighted as a significant step towards improving the compatibility of green finance standards and facilitating cross-border financing [15]. Group 5: Carbon Market Internationalization - The article discusses the complexities of internationalizing China's carbon markets, distinguishing between mandatory and voluntary carbon markets, with the latter being more feasible for international connectivity [19][20]. - The potential for cross-border carbon credit trading under the Paris Agreement's Article 6 is noted, with suggestions for pilot programs involving regions like Hong Kong and Macao [21].