环保行业周报：碳核算体系对标国际，碳市场加速完善

Investment Rating - The report maintains an "Accumulate" rating for the environmental protection sector [2][30]. Core Insights - The report highlights the acceleration of the carbon market and the establishment of a carbon accounting system aligned with international standards, which is expected to enhance the carbon trading environment in China [3][10]. - The weekly trading volume of carbon emission allowances (CEA) was 301.77 million tons, a decrease of 13% from the previous week, while the average transaction price increased by 1% to 101.70 yuan/ton [3][16]. - The report emphasizes the importance of online monitoring systems for key industries and recommends leading companies in pollution source monitoring and waste incineration [10][11]. Summary by Sections Weekly Investment Perspective - The National Development and Reform Commission and other departments issued a notice to improve the carbon emission accounting system, with a phased implementation plan set for 2025 and 2030 [7][18]. - The report suggests investing in companies that will benefit from the integration of green certificates with the national carbon market, improving profitability and cash flow for waste incineration companies [10][11]. Environmental Sector Weekly Performance - The environmental sector saw a weekly increase of 5.85%, with notable performers including Yuanda Environmental (+61.07%) and Baoxin Technology (+50.39%) [3][14]. - Conversely, companies like Zhongjian Huaneng (-7.77%) and Jiaao Environmental (-6.94%) experienced declines [3][14]. Carbon Neutrality Sector Tracking - The report notes a significant drop in the trading volume of local carbon allowances, which decreased by 28% to 82.27 million tons, while the average price rose by 8% to 48.87 yuan/ton [3][16]. - The report also highlights the growth in CCER transactions, which increased by 36% to 27.67 million tons [3][16]. Important Events in the Environmental Industry - A national energy supply meeting emphasized the need for stable energy supply during the heating season, focusing on increasing coal and natural gas production [20][21]. - The report includes updates on significant corporate announcements, such as earnings forecasts and project wins, indicating a positive outlook for several companies in the sector [21][22].