Core Viewpoint - Shanghai Futures Exchange (SHFE) has been focusing on the development needs of the energy industry since 2020, enhancing its role in providing risk management tools and market solutions to support high-quality development in the energy sector [1] Group 1: Development of Energy Financial Derivatives - SHFE is actively developing futures and options products in the clean and low-carbon energy sector to meet the dual demands of low-carbon transition and risk management in the energy industry [2] - The International Maritime Organization (IMO) has set targets to reduce carbon emissions from shipping by 40% by 2030 and 70% by 2050 compared to 2008 levels, with a significant reduction in sulfur content in marine fuels from 3.5% to 0.5% [2] - SHFE launched low-sulfur fuel oil futures on June 22, 2020, adopting an international platform and allowing foreign traders to participate, aligning with the industry's environmental upgrade requirements [2][3] Group 2: Market Expansion and Integration - Since its launch, the low-sulfur fuel oil futures market has steadily expanded, providing effective risk management tools for various industry chain enterprises, such as Sinopec and Ruifeng Group, to stabilize procurement costs and enhance market competitiveness [3] - SHFE has strengthened the integration of low-sulfur fuel oil futures with spot markets, launching several pricing systems to provide a RMB-denominated price benchmark for the shipping fuel market in the Asia-Pacific region [3] Group 3: LNG and Hydrogen Energy Development - As the LNG industry expands, SHFE is accelerating the development of LNG futures and options to address the price volatility risks faced by upstream, midstream, and downstream enterprises [4] - SHFE has established the "China Hydrogen Price Index System" to address the lack of pricing benchmarks in the hydrogen industry, linking hydrogen pricing with carbon emissions [5][6] - The index system has been expanded to cover more regions and types, providing timely price references and supporting the integration of hydrogen and carbon markets [6] Group 4: Future Directions - SHFE aims to continue enhancing the "China Hydrogen Price Index System" and develop green low-carbon futures products to support the energy industry's transition towards standardization, marketization, and greening [6]

Core Viewpoint - Shanghai Futures Exchange is actively transforming its "dual carbon" strategy into market language, facilitating the green and low-carbon transition of industries through the development of new products, price indices, and international cooperation [1][2]. Group 1: Development of Green Products - The Shanghai Futures Exchange has launched green products such as casting aluminum alloy futures and options, and newsprint futures and options, contributing to the low-carbon transition of industries [2]. - The first recycled commodity, casting aluminum alloy futures and options, will officially trade in June 2025, playing a key role in the recycling of waste aluminum and significantly achieving energy conservation and emission reduction [2]. - The exchange is enhancing institutional design in delivery standards and brand certification to promote high-quality industry development and resource utilization efficiency [2]. Group 2: Price Risk Management Tools - Several entities are actively participating in and applying trading models based on casting aluminum alloy futures prices, filling a gap in the recycled metal derivatives market and providing hedging tools for recycled aluminum enterprises [2]. - The launch of newsprint futures and options in September 2025 aims to help companies manage raw material costs and product price volatility, enhancing operational resilience [3]. Group 3: Hydrogen Price Index System - The Shanghai Futures Exchange, in collaboration with other institutions, launched the "China Hydrogen Price Index System" in 2022, which serves as a reference for market monitoring and investment analysis [4]. - The "China Green Hydrogen Price Index" will be added in 2024 to further support the green and low-carbon transition of industries [4][5]. Group 4: International Cooperation and Sustainable Development - The Shanghai Futures Exchange and Shanghai Futures Energy have joined the United Nations Sustainable Stock Exchanges (UNSSE) initiative, enhancing international cooperation and promoting sustainable finance [6]. - This initiative aligns with the central financial work conference's emphasis on green finance and aims to improve the international influence of China's futures market [6].

Core Viewpoint - Shanghai Futures Exchange is actively transforming its "dual carbon" strategy into market language, facilitating the green and low-carbon transition of industries through the development of new products and price indices [1][4]. Group 1: Development of Green Products - The Shanghai Futures Exchange has launched green products such as casting aluminum alloy futures and options, and newsprint futures and options, to support the low-carbon transition of industries [1][2]. - The first trading of casting aluminum alloy futures and options is set for June 2025, which plays a crucial role in recycling waste aluminum and significantly reduces energy consumption and emissions [1][2]. - The exchange emphasizes enhancing delivery standards and brand certification to promote high-quality development and resource efficiency in the aluminum industry [1]. Group 2: Market Participation and Impact - Several entities in the industry are actively engaging with the casting aluminum alloy futures pricing model, which fills a gap in the recycled metal derivatives market and provides hedging tools for recycled aluminum companies [2]. - The introduction of newsprint futures and options in September 2025 aims to manage raw material costs and price volatility, enhancing operational stability for companies in the paper industry [2]. Group 3: Hydrogen Price Index System - The "China Hydrogen Price Index System," launched in September 2022, serves as a benchmark for monitoring the hydrogen market and aids in establishing a national hydrogen trading system [3]. - The release of the "China Green Hydrogen Price Index" in September 2024 further supports the green and low-carbon transition of industries [3]. Group 4: International Cooperation and Sustainable Development - The Shanghai Futures Exchange and Shanghai International Energy Exchange joined the United Nations Sustainable Stock Exchanges (UNSSE) initiative in May 2025, marking a significant step in enhancing international cooperation in green finance [4][5]. - This initiative aligns with the central government's emphasis on advancing green finance and sustainable development goals, contributing to the exchange's long-term growth and global influence [4][5]. Group 5: Future Outlook - The Shanghai Futures Exchange plans to continue developing green products and services, focusing on market-driven approaches to promote green standards and facilitate resource allocation towards low-carbon sectors [5].

Core Viewpoint - The Shanghai Futures Exchange (SHFE) is actively promoting green transformation in industries through the development of green financial products and standards, aligning with China's dual carbon goals to combat climate change and enhance ecological protection [1][6]. Group 1: Green Product Development - SHFE has launched various green derivatives, including aluminum alloy futures and options, which significantly reduce carbon emissions compared to traditional methods, aligning with national recycling and sustainability goals [2][3]. - The introduction of the world's first cultural paper financial derivatives, specifically for offset printing paper, aims to promote the green transformation of the paper industry by prioritizing certified green factories [2][3]. Group 2: Energy Sector Initiatives - SHFE is accelerating the development of liquefied natural gas (LNG) futures and options, recognizing LNG as a crucial low-carbon energy source that can help manage price volatility and promote clean energy adoption [3]. - The exchange has also established a hydrogen price index system to support the hydrogen energy sector, with plans to introduce a green hydrogen price index in 2024 [3]. Group 3: Shipping Industry Support - In response to global shipping industry's green transition, SHFE has launched low-sulfur fuel oil futures to provide risk management tools and support the clean energy transformation of the shipping sector [4][5]. - The low-sulfur fuel oil futures have gained traction and are becoming a key pricing reference for related products in both domestic and international markets [5]. Group 4: International Collaboration - SHFE has joined the United Nations Sustainable Stock Exchanges (UNSSE) initiative, enhancing its international influence in green finance and aligning with global best practices for sustainable development [6]. - The exchange aims to continue improving its green product offerings and services, leveraging market mechanisms to guide resources towards low-carbon industries and support high-quality economic development [6].