健全资源环境要素市场化，利于环保向ToB转型及相关子行业放量

Investment Rating - The industry investment rating is "Positive" and maintained [10] Core Viewpoints - The issuance of the opinion on "Improving the Market-oriented Allocation System for Resource and Environmental Elements" by the Central Committee and the State Council promotes market-based trading of carbon emission rights, water rights, and pollution rights, which benefits the realization of environmental value [2][6] - The transition from To G to To B and To C is expected to lead to valuation recovery, with beneficiaries including waste incineration, water services, and straw power generation [2][6] - The carbon reduction industry is anticipated to expand, with beneficiaries including electric sanitation vehicles, renewable resources, automotive exhaust, hydrogen energy, and CCUS [2][6] - Strengthening data supervision and monitoring capabilities will benefit sectors such as testing certification and environmental monitoring [2][6] Summary by Relevant Sections Event Description - The opinion aims to deepen the reform of market-oriented allocation of resource and environmental elements, with key goals set for 2027, including the establishment of a sound trading system for carbon emission rights, water rights, and pollution rights [6] Event Commentary - The report emphasizes the need for a systematic approach to the trading market, covering carbon markets, energy conservation, water rights, and pollution rights, and highlights the importance of coordination among different trading mechanisms [14] - It also suggests enhancing the monitoring and accounting capabilities for carbon emissions and water resource usage, which is crucial for effective environmental management [14]