ESG月报：全球碳市场体系逐步完善

Group 1 - The global carbon market system is gradually improving, with an expanding coverage and influence, aimed at reducing greenhouse gas emissions through carbon pricing [2][28] - The approval of Article 6.4 of the Paris Agreement establishes a framework for global carbon trading, allowing countries to buy and sell emission allowances, facilitating capital flow to developing countries with potential for carbon-related projects [2][28] - For China, the implementation of Article 6.4 will align the CCER mechanism and carbon credit trading with the global market, enhancing international funding support for green technology exports and energy transition projects [2][28] Group 2 - The first international ESG standard, ISO ESG IWA 48, has been released, providing a universal framework for implementing ESG principles, ensuring standardized and reliable ESG reporting [3][33] - This standard aims to help organizations improve their ESG performance and accelerate the adoption of sustainable business practices globally, contributing to a more regulated business ecosystem [3][33] Group 3 - In November, 110 ESG bonds were issued, totaling 99.372 billion yuan, with green bonds making up 77.986 billion yuan and social bonds 15.344 billion yuan [42] - The total outstanding ESG bond products reached 77,581.60 billion yuan, with green bonds accounting for 54.04% of the total [42][44] - The ESG public fund market saw the issuance of 5 new products, with a total issuance of 1.366 billion yuan, and the outstanding scale of ESG public funds reached 389.423 billion yuan [42][49] Group 4 - The major ESG indices showed mixed performance, with the CSI 300 ESG benchmark rising by 0.38% and the CSI 500 ESG benchmark falling by 1.11% [52] - The CSI 300 ESG leading index outperformed the CSI 300 index by 0.27 percentage points, indicating a positive trend in ESG investments [52] Group 5 - The establishment of the Multilateral Common Green Finance Classification Directory (M-CGT) is a milestone for international green finance, promoting consistency and compatibility of green standards among countries [9][56] - The focus on transition finance is crucial for both China and many developing countries, as it aims to support high-carbon industries in reducing emissions, which may present greater financing needs than traditional green finance [9][56]