专题：稳舵行远篇丨金融新启航 在经济转型与周期波动交织的背景下，金融体系承担着稳预期、稳增长、稳结构的重要使命。如何在复 杂环境中把握方向、校准节奏，成为金融业必须直面的现实课题。 新浪财经推出《金融新启航·稳舵行远篇》专题系列，聚焦宏观政策取向、金融运行逻辑与重点领域改 革进展，邀请金融业界专家和学者，围绕金融如何更好服务实体经济、提升体系韧性展开深入讨论，记 录中国金融"稳中求进"中的关键判断与实践路径。 本期《金融新启航·稳舵行远篇》对话原国家林业局气候办常务副主任、中国绿色碳汇基金会创会秘书 长李怒云。她指出，近年来单边主义和贸易保护措施增多，使得全球协同应对气候变化的行动推进更加 艰难。中国一直强调"共同但有区别的责任"原则，发达国家理应为气候治理提供更多资金支持。 在国际协同受限的情况下，推动绿色信用向可定价、可核证、可质押的金融资产转化尤为关键。 李怒云表示，目前在国内市场上，真正实现标准化、并具备质押条件的绿色信用资产仍然较为有限。我 们希望能够按照自愿市场诚信委员会等国际通行规则来构建标准体系，同时逐步得到国内企业和金融机 构的接受，来推动这类信用资产的真正变现，进而形成可持续的绿色金融支持 ...

柯兰 党的二十届四中全会审议通过的《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》强 调"以碳达峰碳中和为牵引，协同推进降碳、减污、扩绿、增长，筑牢生态安全屏障，增强绿色发展动 能"。这为新时代推进绿色低碳发展提供了根本遵循。衢州市作为浙江西部生态屏障和全国绿色金融改 革创新试验区，要在"十五五"时期，以系统思维深化碳账户体系建设，奋力擦亮绿色发展金名片，为全 省乃至全国全面绿色转型提供可复制、可推广的实践样本，助力实现碳达峰碳中和目标与经济社会高质 量发展的协同统一。 （来源：衢州日报） 转自：衢州日报 一、持续拓展碳账户应用场景，让碳账户体系建设从"全领域覆盖"到"全链条渗透"，激活减碳内生动力 应用场景是碳账户价值实现的载体。要推动碳账户应用场景从"单点突破"向"系统协同"升级，让碳账户 渗透到生产生活的"毛细血管"，形成"减碳—增值—再减碳"的良性循环，加快推进全域低碳转型的发展 步伐。 深耕细分领域场景。在工业领域，要依托现有能耗采集终端，拓展"碳效对标"场景，将碳效与产能指 标、税收优惠挂钩，倒逼企业技改升级；在农业领域，要对接国家产品碳足迹制度要求，建立农产品全 生命周期碳足迹追溯体 ...

生态环境部部长黄润秋：近年来，我们围绕以高水平保护促进新质生产力发展，构建了一套行之有 效的政策体系，涉及标准规范、精准监管、环评改革、市场机制、绿色金融等方方面面。我们积极培育 和壮大绿色生产力，不断塑造发展的新动能、新优势。 今年是中国提出"双碳"目标五周年。五年来，我国建成了全球最大、发展最快的可再生能源体系， 形成了全球最大、最完整的新能源产业链，风电、太阳能发电装机总量已提前完成2030年国家自主贡献 目标。在二氧化碳排放强度持续下降的同时，我国建成了全球覆盖温室气体排放量最大的碳排放权交易 市场，覆盖范围还在进一步扩大。 央广网北京12月19日消息 据中央广播电视总台中国之声《新闻和报纸摘要》报道，习近平总书记 强调，我国经济社会发展已进入加快绿色化、低碳化的高质量发展阶段，必须以更高站位、更宽视野、 更大力度来谋划和推进新征程生态环境保护工作，谱写新时代生态文明建设新篇章。 "十四五"期间，我国构建了全球最大、发展最快的可再生能源体系，建成了全球最大、最完整的新 能源产业链，贡献了全球四分之一的新增绿色面积，绿色低碳发展全面推进，美丽中国建设迈出重大步 伐。 位于辽宁鞍山的鞍钢股份有限公司烧结厂 ...

Core Viewpoint - Jiangxi Province is actively implementing collective forest rights reform, enhancing the economic value of forest resources and improving the livelihoods of local communities through innovative policies and practices [5][14]. Group 1: Forest Rights Reform - Jiangxi has over 60% of its land as forest, with more than 85% of forest land owned collectively, making collective forest land a crucial production resource for farmers [7]. - The province has extended the contract period for collective forest land, ensuring long-term stability for land rights, with 8.74 million acres of contracts extended [7]. - Innovative management systems and databases have been established, resolving historical issues and issuing over 63,400 property rights certificates [7][8]. Group 2: Economic Activation of Forest Resources - Jiangxi has introduced a forest management rights certificate system, allowing for the transformation of dormant assets into liquid capital, with 2,301 certificates issued covering 900,200 acres [8]. - The quantification of collective forest land income rights has led to significant income increases for villagers, with some households receiving over 50,000 yuan [9]. - The province has optimized logging methods, resulting in a 9% increase in collective timber harvesting from January to August 2025 [11]. Group 3: Sustainable Development and New Industries - Jiangxi is developing a modern forestry industry system focusing on oil tea, bamboo, and under-forest economy, with over 15 specialized industrial parks established [15]. - The total forestry output value reached 713 billion yuan, with a year-on-year growth of 9.7%, positioning Jiangxi among the top provinces in the country [15]. - The province has initiated a financial support policy for new forestry operating entities, with 5,988 new entities established, covering 31 million acres of land [13]. Group 4: Financial Innovations and Carbon Trading - Jiangxi has developed a mechanism for forest rights collateral and financial support, raising 1.367 billion yuan for fragmented forest rights [16]. - The province is engaging in carbon trading projects, with 256,540 tons of carbon credits approved, transitioning from timber sales to carbon credits and ecological products [17]. - The establishment of trading scenarios for ecological products is expected to generate a cumulative transaction volume of 15 billion yuan [17].

Core Viewpoint - The company has not yet utilized its own forest resources for domestic carbon credit (CCER) trading but is closely monitoring developments in CCER methodologies and is focused on enhancing forest quality for future carbon credit development [2]. Group 1 - The company has 800,000 acres of land available for carbon credit development, but it has not yet engaged in CCER trading [2]. - The company emphasizes the transformation of ecological value as a strategic direction and will announce any significant developments in carbon credit business through legal channels [2]. - The company is actively improving forest quality through scientific forestry practices to lay a resource foundation for future carbon credit projects [2].

Core Insights - The transformation of ecological advantages into development advantages is crucial for rural revitalization, with a focus on enhancing natural capital and promoting sustainable practices [1][2] Group 1: Ecological Advantages - A good ecological environment is considered the greatest asset for rural areas, providing significant potential for developing new industries and business models [2] - Successful examples include the conversion of apple orchards into both a source of income and a means of soil conservation in Gansu, and the transformation of barren mountains into green landscapes in Shaanxi [1][2] Group 2: Economic Transformation - The pathway for realizing the value of ecological products is expanding, emphasizing the need for effective market mechanisms and proactive government involvement [2] - Innovative practices such as carbon asset trading from bamboo in Zhejiang and soil conservation carbon trading in Fujian illustrate the potential for turning natural resources into economic benefits [2] Group 3: Rural Tourism and New Industries - The rise of rural tourism, including starry sky economies, camping, and homestays, is providing new avenues for income generation for farmers [3] - It is essential to establish mechanisms that allow farmers to share in the economic benefits derived from these new industries, ensuring equitable distribution of wealth [3]

Core Insights - The recent issuance of the "Opinions on Promoting Green and Low-Carbon Transition and Strengthening National Carbon Market Construction" marks a new phase in the development of China's carbon market, emphasizing its role as a crucial policy tool for addressing climate change and facilitating a comprehensive green transition in economic and social development [1][5]. Group 1: Carbon Market Development - The national carbon market has completed three compliance cycles, with a cumulative trading volume of 680 million tons and a transaction value of 47.41 billion RMB as of August 22, 2025, indicating a significant increase in market activity [1]. - The carbon market will expand to include the steel, cement, and aluminum industries starting in 2024, increasing the number of covered enterprises to approximately 3,600 and the annual carbon dioxide emissions covered to 800 million tons, which accounts for over 60% of the national total [2]. Group 2: Compliance and Emission Reduction - Power generation companies have shown a strong commitment to compliance, achieving a compliance rate of 99.98% in the third compliance cycle, reflecting a significant improvement in their awareness and management of carbon emissions [3][4]. - The carbon emissions per unit of electricity generated in the power sector have decreased by 12.1% from 2018 to 2024, demonstrating the effectiveness of the carbon market in promoting emission reductions [4]. Group 3: Transition in Carbon Allocation Mechanism - The shift from intensity-based control to total emissions control, along with the introduction of a mixed allocation method of free and paid carbon quotas, is expected to enhance the market's regulatory power and better reflect the actual costs of emissions for enterprises [5][6]. - This new allocation mechanism is anticipated to create a scarcity value for carbon quotas, encouraging companies to transition from passive compliance to proactive emission reduction strategies [7]. Group 4: Financial Mechanisms and Market Liquidity - The development of carbon finance is highlighted as a key mechanism for supporting green and low-carbon projects, with the potential to reduce economic risks for compliance enterprises and enhance the carbon price formation mechanism [11]. - The carbon market's turnover rate is projected to increase from 2.0% in 2023 to 3.5% in 2024, driven by policy adjustments such as the reduction of compliance cycles and the introduction of quota rollover mechanisms [12]. Group 5: Future Opportunities and Challenges - The tightening of quota benchmarks and rising carbon prices may increase compliance costs for power generation companies, leading to potential market imbalances and heightened financial risks [8]. - Companies are advised to adopt diversified carbon asset development strategies, including participation in green electricity and carbon credit projects, to mitigate risks and enhance long-term profitability [10].

Core Viewpoint - The implementation of the "Implementation Opinions" aims to promote the use of carbon credit purchases as a means for responsible parties to fulfill ecological restoration and compensation obligations in environmental resource cases, thereby enhancing the enforcement and judicial level of ecological environment resource cases in Shenzhen [1][2] Group 1: Implementation Guidelines - The "Implementation Opinions" emphasize the principle of prioritizing ecological restoration, allowing responsible parties to voluntarily purchase carbon credits when direct restoration is not feasible [1] - It specifies that the carbon credit purchase responsibility method is applicable to cases where there is a correlation between ecological damage and carbon sequestration goals, preventing inappropriate application in cases lacking ecological function correspondence [1] Group 2: Regulatory Framework - The opinions require that the purchase and cancellation of carbon credit products be conducted on formal carbon market trading platforms to ensure compliance, authenticity, and effectiveness of the results [2] - The Shenzhen Intermediate People's Court plans to implement collaborative mechanisms such as "Forest Chief + Forest Judge" to properly adjudicate various carbon-related disputes and strengthen the coordination between administrative law enforcement and judicial governance [2]

Core Insights - The transformation of Anji from a "stone economy" to a green economy has led to significant ecological and economic benefits, showcasing the effectiveness of the "Two Mountains" theory [4][5][11] - Anji has become a hub for coffee culture, with a high number of coffee shops and substantial sales, indicating a shift towards tourism and sustainable practices [3][9] Group 1: Environmental Transformation - Anji has eliminated over 70 high-pollution mining and cement factories, replacing them with eco-friendly facilities that attract over 1.2 million tourists annually, generating an ecological value of over 35 million yuan per year [3] - The carbon sequestration capacity of bamboo forests in Anji has increased to 6.6 tons per hectare, providing bamboo farmers with annual income from carbon credits exceeding 28 million yuan [7] - Water quality in local streams has improved significantly, with the overall water quality rating rising from Class IV to Class II, contributing to summer tourism revenues exceeding 200 million yuan [9] Group 2: Economic Impact - The annual total value of ecological products in Anji has reached over 91 billion yuan, reflecting the successful transition to a green economy [11] - The former limestone mining area has been transformed into an ecological resort, with coffee sales reaching over 8,000 cups per day, equivalent to nearly a year's income from mining activities [9]

Core Viewpoint - The article emphasizes the transformative impact of the "Two Mountains" theory on ecological civilization and economic development in China, highlighting significant advancements in environmental protection and green economic growth since its inception in 2005 [2][10]. Group 1: Ecological Transformation in Anji - Anji has seen a remarkable increase in carbon sequestration, with bamboo forests now absorbing 6.6 tons of carbon per hectare, generating over 28 million yuan annually for local bamboo farmers [6]. - Water quality in local streams has improved significantly, with pollution levels dropping from class IV to class II, leading to over 200 million yuan in summer tourism revenue [8]. - The shift from a "stone economy" to a "green economy" has resulted in a dramatic increase in GDP from 8.896 billion yuan to 67.557 billion yuan [12]. Group 2: Broader Impacts of Ecological Initiatives - The restoration of degraded areas, such as the Helan Mountain region, has transformed them into major agricultural zones, significantly increasing income for local farmers [16]. - In Hunan, rice farmers have adapted their practices to support local wildlife, resulting in higher market prices for their products, with some earning an additional 200,000 to 300,000 yuan annually [18]. - The development of forest economies in Fujian has led to over 100 million yuan in annual revenue from wild medicinal herbs and tourism [20]. Group 3: National Ecological Product Value Mechanism - The implementation of the national ecological product value realization mechanism in 12 regions has created over 1 trillion yuan in market vitality through eco-tourism [22]. - The article concludes that the practice of "green water and green mountains are invaluable assets" is continuously evolving, contributing to the well-being of the population and the economy [22].