Core Viewpoint - China has developed into a major player in green finance, becoming one of the most vibrant green finance markets globally, driven by a dual empowerment of policy frameworks and market practices [1] Group 1: Green Finance Development - The Bank of Communications has contributed to the improvement of standards and innovation of products in green finance, including leading the development of national financial standards for the water transport industry's transformation [1] - The bank has introduced innovative financial products such as "carbon intensity + ESG" to support transformation and has measured carbon emissions for high-carbon industry clients for four consecutive years [1] Group 2: Future Directions - To achieve high-quality service for the "dual carbon" goals, there is a need to enhance policy standards, suggesting the prompt establishment of national transformation financial standards that cover key high-carbon industries [1] - The bank emphasizes the importance of product innovation, advocating for the expansion of financial institutions participating in the carbon market and the diversification of carbon financial products like futures and options [1][2] - There is a call to accelerate infrastructure development, improve corporate information disclosure quality, enhance carbon accounting capabilities, and manage carbon footprints to support product innovation while mitigating "greenwashing" risks [2]

Core Insights - The development of green finance in China faces challenges, including insufficient coverage of standards and a lack of product innovation and market mechanisms [1][2] Group 1: Current Issues in Green Finance - Existing green finance standards primarily serve "pure green" economic activities, failing to adequately cover low-carbon transition activities in high-carbon industries, which account for approximately 75% of national carbon emissions [1] - High-carbon industries such as power generation and steel will continue to play a significant role in the national economy and are key areas for energy conservation and carbon reduction [1] Group 2: Financial Support and Market Mechanisms - The price discovery function of financial support for green low-carbon development is not fully realized, particularly in incentivizing high-carbon enterprises to reduce emissions [2] - Although financial institutions have introduced products linked to carbon indicators, these products have not yet achieved large-scale development [2] Group 3: Recommendations for Improvement - It is suggested to enhance policy standards by coordinating financial and industrial policies, and to establish national-level transition financial standards that cover key high-carbon industries [2] - There is a need to strengthen product innovation by expanding the range of financial institutions participating in the carbon market and enriching the types of carbon financial products such as futures and options [2] - Improving infrastructure and increasing the quality of corporate information disclosure are essential to support product innovation and reduce financing costs while effectively preventing "greenwashing" risks [2]