麦高证券ESG周报

Domestic Market Insights - The Central Committee of the Communist Party of China approved a decision to deepen ecological civilization reforms, emphasizing the establishment of a green and low-carbon development mechanism[1] - The plan includes implementing financial, investment, and pricing policies to support green and low-carbon development, aiming to optimize government procurement and improve the green tax system[13] International Market Developments - The UK government mandated that 2% of all jet fuel must be sustainable starting January 1, 2025, with targets to increase this to 10% by 2030 and 22% by 2040[5] - Sustainable aviation fuel (SAF) is projected to reduce greenhouse gas emissions by up to 85% compared to traditional fuels, although supply and cost challenges remain[37] ESG Index Performance - The top-performing ESG index for the week was the 中证 ECPI ESG 可持续发展 40 Index, achieving an excess return of 1.53%[26] - Among the top 10 ESG indices, 5 were ESG leading and 5 were ESG integrated, indicating a balanced performance across strategies[26] ESG Bond Market Dynamics - A total of 31 new ESG-related bonds were issued during the week, with a planned issuance scale of CNY 27.604 billion and an actual issuance of CNY 26.804 billion[29] - The existing ESG bond market comprises 7,165 bonds with a total balance of CNY 13,235.966 billion, with green bonds making up 66.36% of the total[59] Risk Factors - There are concerns regarding incomplete ESG-related information disclosure and the potential for ESG policies to be implemented slower than expected[7]