F NA CODDOND ES NEEDONN NEWBER U U illiniini DI II I=15号 el T E m r II 11 M III ■ III 《意见》首次在省级层面明确碳排放配额属于合法质押标的，当事人依法签订的碳排放配额担保合同，只要不违反法律、行政法规的强制性规定，人民 法院依法认定其有效，为市场主体提供了稳定的法律预期。 在质押登记环节，针对碳资产权属争议风险，创新建立"人民银行动产融资统一登记公示系统+省级交易平台"双登记模式，化解可能出现的权属争议和 重复质押风险。同时，通过交易平台实时冻结功能防止资产转移风险，彻底堵住重复质押漏洞，为金融机构提供双重保障。 《意见》明确加强司法服务与保障，依法最大限度维护碳排放配额质押合同效力，从严认定合同无效情形，规定了"诉前协商优先，司法诉讼托底"的维 权机制，协商不成的，法院将依法支持当事人通过诉讼实现权利，为市场主体提供高效便捷的纠纷解决通道。 在违约处置环节，《意见》创新设置交易平台竞价、价款代收代付机制，保障金融机构作为质权人的优先受偿权，给质权人吃下"定心丸"，打消了银行 等金融机构"不敢贷"的顾虑。 日前，广东省高级人 ...

Core Viewpoint - The recent issuance of the "Opinions on Promoting Carbon Emission Quota Pledge Financing to Support Green Financial Development" by the Guangdong Provincial High People's Court, the Guangdong Provincial Ecological Environment Department, and the People's Bank of China Guangdong Branch marks the first systematic judicial guarantee policy document at the provincial level for carbon emission quota pledge financing in China [1] Group 1: Legal Framework and Implementation - The "Opinions" clarify that carbon emission quotas are legally recognized as pledgeable assets, providing legal validity upon registration on provincial trading platforms [2] - The document outlines a clear process for handling defaults, including negotiation, bidding, and litigation, which aims to enhance the confidence of financial institutions in lending against carbon quotas [2] - A dual registration model combining the People's Bank of China’s unified movable property financing registration system with provincial trading platforms is introduced to prevent repeated pledging of the same carbon quota [3] Group 2: Financial Opportunities and Market Development - The "Opinions" encourage financial institutions to explore diversified financing scenarios, such as annual pre-allocated quota pledge financing, carbon sink future revenue rights pledges, and carbon asset securitization products [3] - The initiative aims to transform carbon emission rights from an abstract environmental concept into legally protected financial assets, thereby facilitating the realization of the principle that "green mountains and clear waters are invaluable assets" [4] - Despite existing challenges such as market volatility and the accuracy of carbon asset valuation, the "Opinions" demonstrate that with proper legal safeguards and inter-departmental cooperation, green finance can transition from vision to large-scale implementation [4]