內地碳市場國際化：香港作為國際金融中心的角色

Investment Rating - The report emphasizes the importance of Hong Kong's role in the internationalization of the mainland carbon market, suggesting a positive outlook for investment opportunities in this sector [26][27]. Core Insights - The report highlights the rapid development of the global carbon market, particularly the voluntary carbon market, and the urgent need for Hong Kong to become a major carbon trading center [27][28]. - It outlines the potential growth of the mainland carbon market, which is expected to expand significantly, with the mandatory carbon market projected to reach RMB 14.7 trillion (approximately USD 2.06 trillion) by 2030 [37][39]. - The report identifies key challenges facing the internationalization of the mainland carbon market, including low international recognition and lack of cross-border trading channels [55][61]. - It proposes several policy recommendations to enhance Hong Kong's role, including stimulating demand for carbon credits, establishing a cross-border trading mechanism named "Carbon City Link," and creating a non-governmental carbon registry system [80][81][82]. Summary by Sections Introduction - The introduction discusses the critical role of carbon markets in achieving sustainability and the potential for financing transitions to greener economies [33][34]. Importance of Internationalizing the Mainland Carbon Market - The mainland carbon market consists of a mandatory carbon market and a voluntary carbon market, with the former being the largest globally [37][39]. - The report notes that the mainland's carbon market is essential for achieving national decarbonization goals aligned with the Paris Agreement [27][28]. Challenges Facing Internationalization - Key challenges include low international recognition of CCER (China Certified Emission Reduction) and the need for improved cross-border trading mechanisms [55][61]. Unique Role of Hong Kong - Hong Kong is positioned to enhance the credibility of CCER and facilitate cross-border trading due to its unique advantages as an international financial center [68][69]. Policy Recommendations - Recommendations include stimulating market demand for carbon credits, establishing "Carbon City Link" for cross-border trading, creating a non-governmental carbon registry, providing legal certainty for carbon credits, and developing a vibrant carbon market ecosystem [80][81][82]. Conclusion - The report concludes that Hong Kong must take decisive actions to support the internationalization of the mainland carbon market, thereby reinforcing its position as a leading green finance center in Asia [143][144].