非银金融：绿色金融趋势跟踪（202410）：绿色金融高质量发展助力美丽中国建设，金融机构大有可为

Investment Rating - The report rates the industry as "Positive" as of November 11, 2024 [1]. Core Insights - The report emphasizes the significant role of financial institutions in supporting the construction of a "Beautiful China" through enhanced green finance capabilities and product offerings. It highlights the issuance of a joint opinion by several regulatory bodies aimed at improving green finance services and increasing the supply of green financial products [1][6]. - As of September 2024, the balance of green loans in domestic and foreign currencies reached 35.8 trillion yuan, marking a year-on-year growth of 25.1%. The balance of carbon reduction support tools was 535.1 billion yuan, with over 1.2 trillion yuan in carbon reduction loans issued [1][13]. - The report outlines the expansion of green bond issuance, with a cumulative total of 3.9 trillion yuan as of September 2024, including 1.6 trillion yuan in green financial bonds, which provide stable funding sources for green credit [1][15]. Policy Dynamics - Internationally, Canada has introduced a sustainable investment guide focusing on various sectors, including power, transportation, and agriculture, while requiring large federal private companies to disclose climate-related financial information [6]. - Domestically, the Ministry of Industry and Information Technology released a technical guide for the green low-carbon development of the dyeing and finishing industry, aiming to accelerate structural adjustments and upgrades [7]. - A joint opinion from the People's Bank of China and other regulatory bodies emphasizes the importance of green finance in supporting the "Beautiful China" initiative, proposing 19 key measures to enhance green finance services [8][10]. Green Financial Products - The report details the growth of green credit, with a balance of 35.8 trillion yuan as of September 2024, and a year-on-year increase of 25.1% [13]. - In October 2024, 488.44 billion yuan in green bonds were issued, with the top issuers being major banks, contributing significantly to the overall issuance [15]. - The establishment of ESG funds has also seen growth, with 10 new ESG public funds launched in October 2024, totaling 1.022 billion yuan [18]. Environmental Rights Trading - Water rights trading in October 2024 reached a total transaction volume of 15,002.20 million m³, with a total transaction amount of 5,292.74 million yuan, reflecting significant growth compared to previous months [22]. - The report also covers emissions trading, with notable transactions in various provinces, indicating active participation in pollution rights trading [24]. News Dynamics - The G20 meeting focused on global biodiversity, climate change, and circular economy issues, highlighting the international commitment to sustainable development [34]. - The Shenzhen Stock Exchange has launched a sustainable finance service zone to promote sustainable financial products and practices among listed companies [34].