严天文在开场中指出，中国碳市场对全球碳价与交易机制影响深远，此次嘉宾齐聚共商运行机制，对加快建设更加有效、更有活力、更具国际影响力的碳市 场意义重大。本场分论坛将聚焦"健全碳市场交易体系，赋能市场化碳定价机制"主题，共谋建设更加有效、更有活力、更具国际影响力的碳市场。 编者按 9月24日，2025年中国碳市场大会在上海举行。本届大会以"完善碳定价机制，激发绿色低碳发展新动能"为主题，设主论坛和两个分论坛。大会聚焦中国碳 市场建设和发展成效、全球应对气候变化新格局、国际绿色合作与创新等议题，汇聚全球绿色发展领域的知名专家和业界代表展开交流探讨、深化国际合 作，发布建设成果与前沿研究，为"双碳"目标实现注入新动能。 主论坛上，《全国碳市场发展报告2025》正式发布，生态环境部、中国人民银行等部门代表及中外专家围绕市场活力提升、绿色金融创新等议题建言献策。 随后开设的两场主题分论坛，汇聚政界、学界、商界及国际机构力量，聚焦行业扩围实践、跨境交易机制、碳资产价值实现等关键领域展开深度研讨。本版 将展现两个分论坛的核心信息和参会嘉宾的精彩观点。 分论坛一：健全碳市场交易体系，赋能市场化碳定价机制 分论坛上，国内外政界、 ...

Group 1 - The article discusses the impact of ultra-processed foods on human health, highlighting the use of unfamiliar additives that the body cannot recognize [4][5] - It emphasizes the unrealistic beauty standards perpetuated by various industries, including fitness and fashion, which can lead to unhealthy dieting behaviors [6][9] - The article notes that historical energy consumption patterns of ordinary farmers involved significant physical activity, contrasting with modern sedentary lifestyles [8] Group 2 - The article explains the carbon credit system, where companies can purchase credits to offset their carbon emissions, with one credit awarded for every ton of CO2 reduced [7][8] - It mentions that the Chinese government initially targeted major carbon emitters in the power generation sector, expanding to include industries like steel and cement, which contribute over 60% of the country's CO2 emissions [9] - The article points out that not all environmental projects generate carbon credits; only certified projects, such as renewable energy and afforestation, qualify [9][10] Group 3 - The article raises concerns about the environmental impact of fireworks on fragile ecosystems, specifically referencing an incident in the Tibetan Plateau where a large number of fireworks were set off [12][13] - It discusses the ecological consequences of such events, particularly on local wildlife, and the potential long-term effects of pollutants from fireworks [14][15]

Group 1 - The core viewpoint emphasizes the need for Hong Kong to accelerate its transition towards green and sustainable development through various measures, including carbon emission data disclosure, bank emission reductions, and the carbon credit market [1] - The suggestion includes mandatory disclosure of Scope 1, 2, and 3 carbon emissions data by listed companies starting this year, allowing companies to purchase carbon credits to offset remaining emissions [1] - The Hong Kong Monetary Authority (HKMA) is urged to require banks to achieve carbon neutrality in their operations by 2030, utilizing the local carbon market to manage residual emissions [1] Group 2 - Large events in Hong Kong generate carbon emissions, and it is suggested to adopt practices from the Paris Olympics and Qatar World Cup to encourage local events to offset emissions through the carbon credit market [1] - The proposal includes considering external incentives such as carbon taxes, drawing from Singapore's experience, to enhance the effectiveness and usage of the carbon market [1] - The Hong Kong Stock Exchange's publication of "Carbon Credit: Buyer’s Guide" is seen as a positive step to promote the development of the carbon market, helping companies understand its mechanisms and addressing current demand issues [2]

- The report focuses on the regulatory dynamics, market trends, and product issuance in the ESG field, providing a systematic review of important information from the past month for investors' reference[2][5] - In August 2025, a significant guiding document for the national carbon market was released, aiming to cover key industrial sectors by 2027[12][13] - The People's Bank of China and six other departments issued opinions to promote financial support for new industrialization, emphasizing green finance and technological innovation[5][23] - The State Administration for Market Regulation issued guidelines to establish a national carbon measurement center, enhancing the technical support for carbon peak and carbon neutrality goals[17] - The Shanghai government released a comprehensive reform action plan for the carbon market, aiming to establish Shanghai as an international center for carbon trading, finance, pricing, and innovation[19] - Guangdong province introduced policies to support green finance development through carbon emission quota pledges, marking a significant step in carbon financial innovation[21] - The State Administration of Foreign Exchange launched a pilot program for green foreign debt business, expanding cross-border green financing channels for enterprises[30] - The People's Bank of China, the Financial Regulatory Administration, and the National Forestry and Grassland Administration jointly issued a notice to support high-quality forestry development, emphasizing innovative financial support for forestry rights mortgages[32] - The Shanghai Stock Exchange published a report on the 20-year ESG practice in the Shanghai market, highlighting the achievements and progress in sustainable development[34] - The China Association for Public Companies released an analysis report on the sustainable information disclosure of listed companies in 2025, showing significant improvements in both quality and quantity of ESG disclosures[36] - The world's first "super-zero carbon building" was inaugurated in Qingdao, showcasing innovative green building practices and energy self-sufficiency[38] - Internationally, the EU continued to advance the Circular Economy and Carbon Border Adjustment Mechanism (CBAM), while the UK proposed simplifying climate disclosure standards for financial institutions[41][43][46] - The market showed divergence: Standard Chartered Bank participated in a $150 million carbon credit transaction, while the Net-Zero Banking Alliance suspended activities and faced legal challenges[48][50] - As of the end of August, there were 915 ESG-themed funds in the market, with a total scale of approximately 1.02 trillion yuan, showing a slight growth since the beginning of the year[55] - Active ESG funds had an average return of 10.87% in the past month, with all five themes achieving cumulative returns of over 30% in the past year[60] - Passive ESG funds had limited short-term excess returns but showed bright spots in some themes over the long term[61] - The main ESG indices generally rose, with the 300 ESG and CSI A500 indices balancing volatility and returns[73] - The ESG bond market remained active, with green bonds continuing to dominate, although the issuance scale declined in August[77]

Group 1 - Yunfeng Financial (00376) and Macau International Carbon Exchange (澳碳所) have completed a carbon credit asset transaction and launched the "Carbon Trading BlockChain" plan, focusing on high-quality carbon credits [1][2] - The initiative aims to build a new generation of infrastructure for the global green asset market, creating a credible and efficient new ecosystem for the carbon market [1][2] - The plan is part of a broader strategic shift towards Web3 for Yunfeng Financial, reflecting its commitment to responsible investment and long-term value creation through ESG principles [1] Group 2 - The "Carbon Chain" plan addresses the current trust crisis in the global carbon credit market, which faces issues such as "greenwashing" and double counting, leading to doubts about project authenticity and incremental value [1][2] - By utilizing blockchain technology, the plan provides a digital identifier for each green asset, ensuring full lifecycle traceability and transparency, thus promoting the integration of real value and digital attributes of carbon assets [2] - The initiative aims to facilitate the connection between global capital and quality carbon projects, unlocking the potential of the carbon market [2]

Group 1 - The core viewpoint of the articles highlights the successful completion of a climate consultancy review by Zhixing Group Holdings, enabling its EMC business to generate carbon credits that can be monetized on recognized trading platforms [1] - Zhixing Group Holdings estimates that it can obtain approximately 42,400 tons of carbon credits annually from its EMC business, with potential for growth as the business expands [1] - The Singapore government plans to impose a carbon tax of 45 SGD per ton starting in 2026, while the current trading price for carbon credits in Europe is around 73 EUR per unit, indicating a lucrative market for the carbon credits generated by the company [1] Group 2 - Zhixing Group has partnered with Tek Securities to issue RMB 200 million climate bonds to fund certified carbon credit projects under the Selangor "Green Initiative Program" [2] - The bonds are designed to attract diverse Asian investors seeking ESG investment opportunities, enhancing transparency and accountability to build investor trust [2] - The issuance of RMB-denominated bonds is expected to increase appeal to Chinese and Asian investors, aligning with the sustainable development goals of the Belt and Road Initiative [2]

Group 1 - The core viewpoint of the news is that Zhixing Group Holdings has successfully completed a climate consultant audit for its EMC business, leading to the acquisition of a PIN number for carbon credits, which will be certified upon project review completion [1] - The company estimates it can generate approximately 42,400 tons of carbon credits annually through its EMC business, with potential for growth as the business expands [1] - The carbon credits generated from the EMC business will be additional assets for the company, with no extra production costs involved [1] Group 2 - Zhixing Group has partnered with Tek Securities to issue RMB 200 million climate bonds to fund certified carbon credit projects under the Selangor "Green Initiative Program" [2] - The bonds aim to attract diverse Asian investors seeking ESG investment opportunities, enhancing transparency and accountability to build investor trust [2] - The issuance of RMB-denominated bonds is expected to increase appeal to Chinese and Asian investors, aligning with the sustainable development goals of the Belt and Road Initiative [2]

Group 1 - The company has completed a climate consultant review of its EMC business and successfully obtained a PIN number, allowing it to generate certified carbon credits from its EMC operations globally [1] - For every ton of verified potential CO2 reduction achieved through the EMC business, the company earns one unit of carbon credit, which can be traded on recognized platforms for cash [1] - Companies are required by law to purchase carbon credits to offset their greenhouse gas emissions, with Singapore set to impose a carbon tax of 45 SGD per ton starting in 2026, while the current trading price for carbon credits in Europe is approximately 73 EUR per unit [1] - The company expects to generate around 42,400 tons of carbon credits annually from its EMC business over the initial ten-year period, with potential for further deployment to increase carbon credit certification [1] Group 2 - The company has appointed Tek Securities as its financial advisor for the proposed issuance of private climate Islamic bonds worth 200 million RMB, which will be used to fund the development of its EMC business [2]

Group 1 - The company has completed a climate consultant review of its EMC business and successfully obtained a PIN number, allowing it to generate certified carbon credits for its EMC operations globally once the project review is completed and approved by Verra [1] - For every ton of verified potential CO2 reduction achieved through the EMC business, the company earns one unit of carbon credit, which can be traded on recognized platforms for cash [1] - The company anticipates generating approximately 42,400 tons of carbon credits annually from its EMC business over the initial ten-year period, with the potential for further deployment to increase carbon credit certification [2] Group 2 - The company plans to issue a private climate Islamic bond with a face value of 200 million RMB, approved by the Labuan Financial Services Authority, to fund the development of its EMC business [2] - Islamic bonds are designed based on Islamic financial principles and will be overseen by an Islamic law advisor, combining climate action and sustainable development goals through innovative financing solutions [3] - The climate Islamic bond will feature fixed interest payments and will repay the principal amount at maturity [3]

Group 1 - The company has completed a climate consultant review of its EMC business and successfully obtained a PIN number, allowing it to generate certified carbon credits from its EMC operations globally [1] - For every ton of verified potential CO2 reduction achieved through EMC business, the company earns one unit of carbon credit, which can be traded on recognized platforms for cash [1] - The company anticipates generating approximately 42,400 tons of carbon credits annually from its EMC business over the initial ten-year period, with the possibility of an additional ten-year extension [2] Group 2 - The Singapore government plans to impose a carbon tax of 45 SGD per ton starting in 2026, while the current trading price for carbon credits in Europe is around 73 EUR per unit [2] - The carbon credits obtained from the EMC business are considered additional assets without incurring extra production costs [2] - The company has appointed Tek Securities as its financial advisor for a proposed issuance of private climate Islamic bonds worth 200 million RMB, which will fund the development of its EMC business [2]