Core Viewpoint - The development of green finance in China is crucial for supporting the transition to a low-carbon economy and achieving the "dual carbon" goals, necessitating improvements in standards, information disclosure, product innovation, and attracting social capital participation [1][2][3][4]. Group 1: Current State of Green Finance - As of the end of 2024, the balance of green loans in China reached 36.6 trillion yuan, a year-on-year increase of 21.68%, significantly outpacing the average growth rate of all loans [2]. - In 2024, 589 new green bonds were issued, amounting to 654.49 billion yuan, with a cumulative balance of 5.73 trillion yuan [2]. - Green insurance premiums reached 229.8 billion yuan in 2023, providing insurance coverage of 709 trillion yuan, a 14.74-fold increase since 2020 [2]. Group 2: Challenges in Green Finance Development - There are significant challenges in green finance, including discrepancies in local and industry standards, low corporate environmental information disclosure rates, and a lack of authenticity and comparability in data [3]. - The distribution of green financial resources is uneven, with a concentration in traditional high-energy-consuming industries, leaving emerging sectors like renewable energy and carbon capture under-supported [3]. - The existing financial products are highly homogeneous, and innovative tools such as carbon futures and climate derivatives are still in pilot stages, failing to meet diverse emission reduction needs [3]. Group 3: Recommendations for Improvement - It is essential to establish and refine green finance standards, particularly for rural and small enterprises, to prevent "greenwashing" and align with international standards [4]. - The establishment of a national green industry fund is recommended, focusing on technologies like energy storage, hydrogen, and carbon capture, along with incentives for small and micro green enterprises [4]. - A unified national carbon pricing system should be developed to enhance market activity and attract more social capital, supported by local government funding and policy incentives [4].

Core Insights - Green finance has become a significant development direction in the financial industry, particularly in China, where the trust industry actively engages in green finance practices to support green industry development and facilitate its own transformation [2][4] - Trust companies utilize various financial tools such as green trust loans, equity investments, green bonds, and asset securitization to fund clean energy and environmental protection projects [2] - The trust industry has seen notable progress in green finance, with innovative practices emerging, such as CITIC Trust's green trust business reaching a scale of 13.16 billion yuan by the end of 2023 [2][3] Group 1 - China’s trust industry is leveraging its flexibility and diversity to support green projects through multiple financial instruments [2] - China’s trust industry has made significant advancements in green finance, with examples like CITIC Trust providing 875 million yuan to support clean energy company Goldwind Technology [2][3] - AVIC Trust has established the first "carbon neutrality" themed green asset management trust in the country, contributing to carbon peak and neutrality goals [3] Group 2 - AVIC Trust's green trust cumulative investment scale exceeded 70.5 billion yuan by the end of November 2024 [3] - Shandong Guoxin launched the first green trust certified by CCER carbon asset revenue rights, with an initial scale of 96.6 million yuan, aimed at supporting the clean energy heating industry [3] - Despite progress, the trust industry faces challenges such as a lack of professional talent and difficulties in identifying and assessing green projects [4] Group 3 - The trust industry needs to enhance collaboration with government, research institutions, and enterprises to improve professional capabilities and innovate business models [4] - The practices in green finance reflect the social responsibility of financial institutions and provide valuable experience for supporting green development [4] - The trust industry is expected to play a larger role in promoting China's dual carbon goals and sustainable development as policies improve and the market matures [4]