21世纪经济报道记者卢陶然、李德尚玉 湖州报道 十一月，湖州西山漾湿地公园的秋色渐深。沿湖而行，处处可见绿色金融的支持痕迹：智能环境监测设 备、生态修复工程…… 今年是"绿水青山就是金山银山"理念提出二十周年。我国"十五五"规划建议提出，加快经济社会发展全 面绿色转型，建设美丽中国。 湖州市是"两山"理念诞生地，从2015年自主探索，到2017年成为全国首批绿色金融改革创新试验区，这 十年间，湖州绿色金融改革怎样支持产业绿色转型中的技术瓶颈和资金难题？如何让绿色金融从概念走 向落地实践？ 带着这些问题，近日，21世纪经济报道记者深入湖州一线调研走访。从湿地公园到虚拟电厂，从绿色标 准推出到碳中和银行试点，湖州正在用绿色金融赋能自身全域发展。 湖州绿色金融改革的政策，正在转化落地为企业层面的实际动能，吴兴国控数字能源的虚拟电厂正是受 益者之一。 记者走进吴兴国控数字能源公司，看到技术人员正在三维可视化平台上查看"三网融合"的实时动态。 "得益于工行湖州分行等金融机构的8.4亿元贷款支持，虚拟电厂的建成恰逢其时。"吴兴国控数字能源 企划投资部赵挺表示。 作为吴兴区首家获得售电牌照的国企，虚拟电厂则成为其布局电力市 ...

也要看到，在赋能新时代绿色发展方面，我国绿色金融仍面临一些问题和挑战。例如，绿色金融标 准体系不完善，国内外标准不统一、地方与行业标准差异大；碳市场交易规模低、行业覆盖范围有限、 价格发现功能较弱；绿色金融工具仍以传统信贷、债券为主，创新性产品不足。未来需要加快绿色金融 的发展和升级。 一方面，健全绿色金融标准体系。加强统筹协调，在建立完善绿色金融标准体系方面持续发力。加 快转型金融标准体系建设，制定出台统一的金融机构和金融业务碳核算标准。加强对金融机构的引导和 监督，促进标准实施。积极参与国际标准制定，提升我国在国际绿色金融标准制定中的话语权和影响 力。 另一方面，丰富绿色金融和转型金融产品及服务。金融机构要在扩绿、降碳、减污等方面不断丰富 产品和服务。发挥碳金融在全国碳市场建设中的助推作用。金融机构要规范开展碳质押融资业务，稳步 参与全国碳市场建设，稳慎探索开发"碳金融"产品和服务。 (本文来源：经济日报 作者系国家信息中心正高级经济师 李若愚) 绿色发展是高质量发展的底色，绿色金融在其中发挥了引领和支持作用。《中共中央关于制定国民 经济和社会发展第十五个五年规划的建议》明确提出，大力发展科技金融、绿色金 ...

绿色发展是高质量发展的底色，绿色金融在其中发挥了引领和支持作用。《中共中央关于制定国民经济 和社会发展第十五个五年规划的建议》明确提出，大力发展科技金融、绿色金融、普惠金融、养老金 融、数字金融。未来，我国绿色转型和降碳任务仍然艰巨，需要推动绿色金融服务再上新台阶，全力做 好绿色金融"大文章"。 （作者系国家信息中心正高级经济师） （文章来源：经济日报） 也要看到，在赋能新时代绿色发展方面，我国绿色金融仍面临一些问题和挑战。例如，绿色金融标准体 系不完善，国内外标准不统一、地方与行业标准差异大；碳市场交易规模低、行业覆盖范围有限、价格 发现功能较弱；绿色金融工具仍以传统信贷、债券为主，创新性产品不足。未来需要加快绿色金融的发 展和升级。 一方面，健全绿色金融标准体系。加强统筹协调，在建立完善绿色金融标准体系方面持续发力。加快转 型金融标准体系建设，制定出台统一的金融机构和金融业务碳核算标准。加强对金融机构的引导和监 督，促进标准实施。积极参与国际标准制定，提升我国在国际绿色金融标准制定中的话语权和影响力。 另一方面，丰富绿色金融和转型金融产品及服务。金融机构要在扩绿、降碳、减污等方面不断丰富产品 和服务。发挥 ...

01治理与战略深度融合 优质的转型计划，首先要将气候目标（如净零排放）纳入企业战略核心，并建立强大的治理框架。董事会和高管需对转型目标及路径负总责，推动气候战 略与日常运营和重大决策深度结合。 02设定明确可衡量的中长期目标 面对气候变化带来的巨大挑战和净零转型的全球浪潮，企业制定并落实转型计划正成为一道时代"必答题"。从各国监管趋严，到市场及投资者的绿色需求 攀升，再到供应链合作伙伴对可持续发展的日益重视，转型计划不仅关乎企业生存与合规，更是未来价值创造和国际竞争的关键"通行证"。 在此背景下，毕马威于《联合国气候变化框架公约》第三十次缔约方大会（COP30）期间发布了《转型计划：助力企业系统性脱碳》报告，为企业应对气 候挑战提供了切实可行的指南。同时，毕马威还联合多方举办高端沙龙及训练营，助力企业突破转型瓶颈，迈向更高质量、可持续的未来。 企业应制定科学、量化且可执行的减排目标，并分阶段设定具体里程碑，通过科学方法确保目标路径的透明与可验证。这不仅有助于防范漂绿风险，更能 增强外部利益相关方的信心。 03分步骤推进与资源精准匹配 转型规划需要拆解为具体可操作的行动方案，涵盖财务、运营、供应链及技术等多维度 ...

Core Viewpoint - Allianz Investment emphasizes that Asian markets, particularly the Chinese stock market, are key diversification choices for investors who are currently overexposed to US equities [1][4]. Group 1: US Federal Reserve and Interest Rates - Allianz's Chief Investment Officer for Fixed Income, Zeng Zheng, predicts further interest rate cuts by the US Federal Reserve, with a terminal rate of around 3.5% by mid-2026 [2]. - Zeng notes that the likelihood of the Fed choosing to cut rates is greater than maintaining the current rates, although the exact timing remains uncertain [2]. - Fixed income is highlighted as a core tool for capital preservation amid macroeconomic volatility, with a shift in return drivers expected from credit spreads to interest rate spreads by 2026 [2][3]. Group 2: Investment Opportunities in Asia - Zeng Yonghui, Chief Investment Officer for Asia Pacific equities, points out that many investors are overly concentrated in US stocks, particularly in large tech sectors, and are now reallocating to Asian assets [4]. - The current low allocation of global investors to Asian stocks presents a significant opportunity, especially as Asian stocks have a low correlation with US stocks [4]. - Four key themes driving investment opportunities in Asian stocks include innovation in technology, corporate reforms in major Asian economies, supply chain diversification, and emerging consumer trends [5]. Group 3: China's Economic Strategy - Allianz's Senior Economist, Tang Jicheng, identifies two main focuses of China's economic strategy: continued investment in advanced manufacturing and boosting domestic consumption [7]. - The "14th Five-Year Plan" outlines five strategic areas for attention, including modern industrial systems, technological breakthroughs, a unified domestic market, human-centered urbanization, and international cooperation [8]. Group 4: Multi-Asset Investment Strategies - Allianz's Head of Growth Multi-Asset, Hartwig Kos, notes that risk assets remain attractive, with a shift towards more diversified global allocations beyond US equities [10]. - The traditional "60/40" stock-bond portfolio remains viable, but flexibility and inclusion of non-core risk exposures like emerging market bonds and gold are essential for resilience [10]. - Gold is reaffirmed as a strategic asset, increasingly driven by geopolitical uncertainties and de-dollarization, making it a crucial component of a diversified investment portfolio [10]. Group 5: Sustainable Investment Trends - Allianz's Head of Sustainable and Impact Investing, Matt Christensen, indicates that sustainable investment regulation is entering a new phase, with a shift from mere disclosure to clearer product classifications in the EU [11]. - Impact investing is maturing, with growing recognition of achieving market-level returns, particularly in private markets, supported by clearer standards for outcomes and reporting [12].

Group 1: Climate Financing - The UN Conference on Trade and Development emphasizes the need for better climate financing support for developing countries, highlighting a significant gap between the $100 billion climate financing commitment achieved in 2022 and the $1.3 trillion target set for 2024 COP29 [2] - The report calls for systemic reforms in the international financial architecture to increase non-debt financing and improve the operations of multilateral development banks, enabling developing countries to become co-creators of rules rather than mere rule-takers [2] Group 2: Carbon Reduction Pathways - The Beijing Green Finance and Sustainable Development Research Institute released a study outlining carbon reduction pathways for six high-carbon industries from 2020 to 2060, providing a reference for financial institutions and third-party evaluations of corporate transformation plans [3] - The study suggests using a 2-degree scenario as a benchmark for assessments, aligning with China's "3060" dual carbon strategy goals, and aims to mitigate the risk of "false transformation" being included in financial support [3] Group 3: Blue Economy Financial Support - The Guangdong Province has opened a public consultation for the "Blue Industry Financial Support Guidelines," which aims to support sustainable development in marine industries, including fisheries, tourism, and marine renewable energy [4] - The guidelines provide operational principles for government, financial institutions, and enterprises, promoting standardization in blue finance and addressing challenges in identifying, quantifying, and qualifying blue economic activities [4] Group 4: Carbon Market Activity - The national carbon market reported a highest price of 62.48 yuan/ton and a closing price increase of 4.12% over the previous week, with a total trading volume of 16,774,989 tons and a total transaction value of approximately 1 billion yuan [5] - Cumulative trading volume in the national carbon market reached 795,940,642 tons with a total transaction value of approximately 53.29 billion yuan as of November 14, 2025 [5] Group 5: Green Financial Instruments - Shanghai Pudong Development Bank issued its first green financial bond of the year, totaling 20 billion yuan with a fixed interest rate of 1.73%, indicating market confidence in green financial instruments [6] - The issuance aims to provide long-term funding support for green projects, reflecting the growing recognition of green finance in the market [6] Group 6: Biodiversity Financing - The first biodiversity-linked loan in Ya'an, Sichuan Province, was issued for 478 million yuan, utilizing a combination of policy-based financial tools and market financing to meet project funding needs [7] - This loan integrates biodiversity impact assessments to monitor ecological effects, promoting a win-win scenario for ecological protection and industrial development [7]

北京绿色金融与可持续发展研究院院长马骏表示，"转型金融是绿色与可持续金融未来发展的最重要突 破口和业务增长点。科学评估企业转型计划是提供高质量转型金融服务的重要基础。北京绿金院提供 的'转型基准路径'将为金融机构和第三方机构评估企业转型计划提供重要依据。" 马骏指出，"下一阶段，北京绿金院课题组将进一步优化相关研究模型和数据，研究并发布建筑业、房 地产、水上运输、航空运输、陶瓷、造纸等细分行业的减碳目标基准"。 责任编辑：刘万里 SF014 11月14日消息，近日北京绿色金融与可持续发展研究院发布了《服务转型金融的中国高碳行业减碳基准 路径研究（第一阶段成果）》。基于研究结果，报告建议将2度情景下的各行业转型路径作为我国金融 机构和第三方机构评估企业转型计划科学性与先进性的基准路径。 报告是北京绿金院针对中国高碳行业减碳基准路径研究的第一阶段成果，系统展示了"双碳"背景下我国 电力、钢铁、水泥、化工、有色、玻璃六大高碳行业在2020-2060年间的基准减碳路径。 报告系统评估了转型风险与气候物理风险对中国宏观经济、产业结构与碳排放的长期动态影响，在构建 基准情景（BAU）以及1.5度、2度和3度不同气候温升情 ...

Group 1 - Tianjin Rongcheng United Steel Group has transformed from a high-energy consumption and high-emission enterprise to a model for green transformation in Tianjin, utilizing a water purification system for fish farming [1] - The company has improved its "green" level by collecting, purifying, and reusing resources such as wastewater and waste gas in its production process [1] - Tianjin Rural Commercial Bank issued a transformation financial loan of 80 million yuan to the steel group to promote the rational use of residual heat and energy resources [1] Group 2 - As of September this year, the balance of green loans in Tianjin reached 847.8 billion yuan, a 19% increase from the beginning of the year, with an average annual increase of over 100 billion yuan since 2021 [1] - Tianjin has been innovative in green finance, launching transformation financial standards for the chemical industry and becoming one of the first pilot cities for transformation financial standards in the steel industry [1] - The city has also developed standardized processes for green leasing services and established a standardized information platform for green leasing [1] Group 3 - Tianjin's first "biodiversity + sustainable development linked loan" was issued recently, with 10 million yuan allocated for a crab-rice symbiosis project near Qilihai Wetland [2] - The project represents a typical example of biodiversity agriculture in Tianjin, supported by a tailored loan scheme from Weihai Bank [2] - The practice of green finance in Tianjin is attracting a number of green industry projects, enhancing the scale of green industries such as new energy, energy conservation, and ecological agriculture [2]

11月12日，据重庆市委金融办优化营商环境获取金融服务专项小组办公室消息，万州区不断深化金融改革，提升服务效能，聚焦产业支撑、绿色驱动与普惠 覆盖，持续优化营商环境，为加快建设全市重要城市副中心贡献金融力量。数据显示，截至今年9月底，全区存贷款余额3490.72亿元，同比增长14.62%，其 中贷款余额1258.42亿元，同比增长20.98%；绿色贷款余额223.5亿元，同比增长50.04%。 精准强基 全力提升产业支撑力 走进重庆长安跨越车辆有限公司的生产车间，新上市的纯电X3小卡赢得市场青睐。作为全产业链商用车制造企业，长安跨越近年来持续加码新能源赛道。 企业转型的背后，离不开金融"活水"的精准滴灌。 "多亏了工商银行万州分行为我们授信1亿多元技术改造贷款。"公司有关负责人表示，"这笔资金破解了瓶颈，让我们完成了核心设备与工艺的迭代升级，对 未来发展充满信心。"据悉，公司今年计划产销汽车17.5万辆，其中新能源车预计突破4万辆，同比大幅增长57%。 作为第三批国家产融合作试点城市，万州区认真落实市委"33618"现代制造业集群体系要求，围绕重点产业，通过建立融资协调机制、召开政企恳谈会等方 式，提供精准多 ...

从"城市副中心"五个字写进国家战略那天起，绿色就不再是口号，而是被拆解成具体的项目和数据。绿 交所大厅的数据显示，全国温室气体自愿减排（CCER）成交量已突破320万吨。在我们日常生活的很 多细节里，绿色标签的占比正以肉眼可见的速度攀升——买一张电子地铁票、一次线上医疗挂号、一笔 供应链应收账款，都可能成为绿色金融账本上的"+1"。 据绿交所董事长王乃祥介绍，绿交所承担CCER交易、国家绿色技术交易等绿色交易平台职能，CCER 市场已发布6项核证自愿减排方法学，13个项目完成登记、产生1870万吨核证自愿核证量，2024年1月市 场启动以来，CCER交易额2.7亿元。今年9月启动国家绿色技术交易中心（北京），当日6项绿色技术成 交。开发企业碳账户与绿色项目库系统等绿色金融基础设施，创新"碳e贷""无废贷""节水贷"等产品， 融资规模达70亿元。王乃祥表示，未来，绿交所将在各级主管部门的指导支持下，在城市副中心高质量 打造面向全球的国家级绿色交易所，助力国家绿色发展示范区建设。 这正是北京城市副中心绿色金融发展的缩影。如果把北京城市副中心的绿色金融生态比作一棵树，那政 策是根，市场是干，技术、资金、场景则是交错 ...