Core Viewpoint - China aims to peak carbon dioxide emissions before 2030 and achieve carbon neutrality by 2060, marking a significant commitment to green transformation and sustainable development [1][2]. Financial Sector's Role - The financial sector is crucial in facilitating resource allocation and addressing financing challenges for green projects, with green credit surpassing 42 trillion yuan and green bond issuance ranking among the highest globally [1][3]. - Financial innovations and policies have been implemented to support the "dual carbon" goals, including the establishment of a comprehensive financial support framework [3][5]. Funding Requirements - From 2024 to 2030, China's total funding requirement for climate change mitigation and adaptation is approximately 25.2 trillion yuan, averaging about 3.6 trillion yuan annually; from 2031 to 2060, the requirement is around 243 trillion yuan, averaging about 8.1 trillion yuan annually [2]. Policy Framework - A robust policy framework has been established, including key documents that outline financial support for green development, providing clear strategic guidance for market participants [3][4]. - The introduction of standards and guidelines has enhanced transparency and accountability in green finance, preventing greenwashing practices [4][5]. Market Practices - Green credit has become a vital tool for financing energy efficiency and renewable energy projects, with a reported balance of 42.39 trillion yuan in green loans as of mid-2025, reflecting a 14.4% increase from the beginning of the year [6][7]. - The issuance of green bonds and sustainable development-linked bonds has enabled companies to raise funds specifically for low-carbon projects, linking financial incentives to emission reduction targets [7][8]. Carbon Market Development - China's carbon trading market has rapidly expanded since its launch, becoming the largest in the world by greenhouse gas emissions coverage, with a cumulative trading volume of 715 million tons and a transaction value of 49.04 billion yuan [9]. - The integration of carbon markets with other financial instruments is essential for maximizing the effectiveness of green finance and ensuring that emission reductions are economically viable [9][10]. Future Challenges and Directions - Despite progress, challenges remain in matching funding supply with project demand, developing risk pricing mechanisms, and enhancing collaboration across financial tools [10][11]. - Future efforts should focus on innovating financial products, improving resource matching, and fostering international cooperation to strengthen the green finance ecosystem [11][12].
金融赋能 绘绿成卷——“双碳”行动实施五周年记
Zheng Quan Ri Bao·2025-09-21 15:43