下一步，将在做好碳市场风险防范的基础上，进一步丰富市场要素，完善价格治理机制，稳步提升碳市 场活力。 二是加快因子研究，支撑碳足迹"算得出"。2025年1月，生态环境部会同国家统计局、国家能源局发布 2023年电力碳足迹因子数据，明显小于国外数据库的中国默认数值。上线国家温室气体排放因子数据 库，组织开展基础能源、原材料和交通运输等通用因子以及外贸产品等终端消费品因子研制，研究产品 碳足迹因子数据库相关规范，加快建设产品碳足迹因子数据库。 三是加强管理创新，助力碳足迹"算得好"。2024年9月，生态环境部牵头组织国家发展改革委等18个部 门召开产品碳足迹工作会议，就《碳足迹管理细化任务清单》和《碳足迹管理主要成果清单》达成共 识。2025年6月，编制印发《2025年产品碳足迹管理细化任务清单》，发布《产品碳足迹管理体系建设 进展报告（2025）》。此外，我们还配合相关部门开展产品碳足迹标识认证试点工作，研究产品碳标识 认证制度，形成产品碳足迹标识认证试点名单。 下一步，我们将持续落实《实施方案》，统筹国内外需求，积极发挥牵头作用，加强各部门交流合作， 稳步推动建立碳足迹管理体系。 一是完善标准体系，落实《产品 ...

Core Viewpoint - The article discusses the "2025 Xuzhou Financial Services High-Quality Development Case Collection Activity," aimed at showcasing the achievements of Xuzhou's financial industry during the 14th Five-Year Plan and contributing to its goal of becoming a trillion-yuan city by 2025 [1] Group 1: Activity Overview - The activity will last for six months, from May to October 2025, and aims to systematically display the accomplishments of Xuzhou's financial sector during the 14th Five-Year Plan [1] - It seeks to enhance the social responsibility of financial institutions and increase the influence of Xuzhou's financial industry in the Yangtze River Delta and nationwide [1] Group 2: Collection Scope - The collection targets financial institutions in Xuzhou, including banks, insurance, securities, and fund companies, focusing on innovative service cases, digital transformation achievements, and risk prevention practices [2] - Government and industry associations are also included, providing cases on policy innovation and cross-sector collaboration governance models [3] Group 3: Field Directions - The activity emphasizes several key areas: - Serving the real economy through supply chain finance, specialized loans for manufacturing, and technology financial products [4] - Promoting inclusive finance, including financial services for new citizens, rural credit system development, and innovations in microfinance products [5] - Digital transformation initiatives, such as applications of digital currency, intelligent risk control systems, and blockchain technology practices [6] - Green finance projects, including carbon financial products, green credit projects, and ESG investment cases [7] - Innovative governance models, such as diversified financial dispute resolution mechanisms and cross-department data sharing platforms [8] Group 4: Case Requirements - Cases must be inclusive, covering a wide range of beneficiaries [9] - They should demonstrate effectiveness, having been implemented in recent years with quantifiable data and noticeable results [10] - Innovation is key, showcasing policy, technology, or model innovations with potential for broader application [11] - Compliance with laws and regulations is mandatory, aligning with national policy directions [12] Group 5: Evaluation and Display - An expert evaluation committee will be formed, comprising representatives from the central bank, universities, and industry associations, to assess cases based on innovation, effectiveness, and applicability [13] - Selected cases will be showcased through exhibitions and special reports across multiple channels [13] Group 6: Submission and Recommendation Process - Organizations can self-nominate by filling out a case recommendation form and providing a written document of up to 3,000 words detailing the project background, implementation measures, innovative highlights, and social benefits [14] - Experts and media can also recommend cases, requiring a rationale for their nomination [15] Group 7: Activity Timeline - The activity will follow a structured timeline: - Initial selection phase from May to June, involving strict screening of submissions [16] - Publicity and reporting phase from June to July, including on-site evaluations of key cases [16] - Final review phase from August to September, where the expert committee will determine the final selected cases [16] - Promotion and publication phase from September to October, culminating in a ceremony to announce the outstanding cases [16]

Group 1 - The "Action Plan" aims to enhance the competitiveness and influence of Shanghai as an international financial center by promoting the aggregation of banking and insurance institutions in the city [1][2] - Financial institutions are encouraged to establish specialized entities or expand their authorization in Shanghai to seize opportunities in financial openness and gain policy innovation benefits [2][3] - The plan supports Shanghai's participation in international carbon financial pricing competition and aims to develop it into an international green finance hub [2][3] Group 2 - The "Action Plan" emphasizes the importance of improving financial services for the real economy and enhancing the quality of technology finance [2][3] - It proposes the establishment of a regulatory mechanism for financial innovation, focusing on risk management and prudent supervision [3] - The plan encourages the development of innovative financial products and services related to carbon finance, which is a crucial aspect of green finance [2][3]

Core Insights - The 22 ESG-compliant securities firms have collectively reported their ESG performance, with a significant focus on climate information disclosure, indicating that the "hard battle" for climate data transparency has just begun [1][2][3] - Over half of the firms reported a year-on-year reduction in carbon emissions, with 12 firms showing a decrease in total greenhouse gas emissions compared to the previous year [3][4] - The regulatory environment is tightening, with the Ministry of Finance's latest draft requiring financial institutions to disclose indirect emissions from their investment and financing activities, posing challenges for firms with weak data foundations [1][10] Group 1: ESG Reporting and Carbon Emissions - All 22 securities firms, except for three, have disclosed their total greenhouse gas emissions for 2024, focusing on Scope 1 and Scope 2 emissions [3][4] - Among the firms, 12 reported a decrease in total greenhouse gas emissions, with Everbright Securities showing the largest reduction of 30.86% [3][4] - Nine firms disclosed Scope 3 emissions, with detailed breakdowns provided by firms like China Merchants Securities and Guotai Junan [3][4] Group 2: Carbon Financial Products and Market Participation - More than 10 firms have reported initiatives to support carbon finance development, including the launch of diverse carbon financial products [6][7] - Notable activities include the first carbon repurchase transactions in Shanghai and significant participation in carbon trading markets, with Guotai Junan reporting a cumulative trading volume of approximately 8.8 million tons [6][7] - The involvement of securities firms in carbon markets is seen as crucial for enhancing market liquidity and facilitating the transition to low-carbon energy for enterprises [6][7] Group 3: Governance and Compliance Challenges - 12 firms have established ESG committees at the board level, reflecting a growing emphasis on governance and compliance within the industry [8][9] - Issues related to governance, compliance, and the integrity of ESG reporting have been highlighted, with concerns about the prevalence of false materials and operational violations [8][9] - The need for a cultural shift within financial institutions to integrate ESG principles into daily management practices has been emphasized, aiming to balance growth with compliance quality [9][10] Group 4: Data Disclosure Challenges - Financial institutions face significant challenges in disclosing financing emissions due to a lack of reliable carbon emission data from investee companies [10] - The inconsistency and quality of available data pose additional hurdles, as many firms lack standardized methods for calculating and reporting emissions [10] - Recommendations for addressing these challenges include establishing internal and external carbon emission databases and enhancing the overall ESG data analysis and disclosure capabilities of institutions [10]