Jing Ji Guan Cha Wang·2025-09-30 07:00Core Insights - The "14th Five-Year Plan" marks a significant milestone in China's ecological civilization and environmental protection efforts, transitioning from pollution control to comprehensive promotion of a beautiful China [2] - The Ministry of Ecology and Environment reported over 100 projects supported by financial institutions, with a total credit amount of 216.4 billion yuan and loans disbursed amounting to 76.4 billion yuan [2] - Green loans have seen substantial growth, with the balance increasing from 9.9 trillion yuan at the end of 2019 to 36.6 trillion yuan by the end of 2024, averaging an annual growth rate of over 20% [2] Green Finance Development - The six major state-owned banks play a leading role in green finance, with a total green loan balance of 23.8 trillion yuan as of June this year [3] - Industrial and Commercial Bank of China leads with over 6 trillion yuan in green loans, growing at a rate of 16.4% [3] - Agricultural Bank and China Construction Bank also report green loan balances exceeding 5 trillion yuan, with growth rates of 14.6% and 14.88% respectively [3] Policy and Demand Drivers - The rapid growth of green loans is attributed to policy support, demand from enterprises for low-carbon transformation, and increased supply of green financial products [3][7] - The banking sector views green finance as a core growth area, with ongoing innovation in green financial products [5][7] Innovations in Green Financial Products - Banks are actively launching differentiated green financial products, creating a complete ecosystem centered around green credit and green bonds [7] - The issuance and investment in green bonds are becoming significant methods for banks to support green development, with notable participation in the bond market [6][7] Challenges in Carbon Finance - The carbon quota pledge loan business faces challenges, including unclear legal definitions and compliance risks [8] - The lack of standardized carbon accounting and pricing mechanisms hampers banks' ability to assess carbon asset values [8][9] Recommendations for Carbon Market Support - Experts suggest enhancing carbon financial infrastructure, establishing clear legal attributes for carbon assets, and developing standardized carbon financial contracts [9] - Improving carbon emission data quality and establishing a comprehensive carbon data governance system are essential for banks to effectively engage in carbon finance [9]