Beijing to build greenhouse gas voluntary emission reduction management and trading center

Beijing’s implementation of the “two carbon” goal is becoming clear. On March 24, the general office of the Beijing Municipal Party committee and the general office of the Beijing Municipal People’s government issued the “implementation plan of Beijing Municipality on building a modern environmental governance system” (hereinafter referred to as the “plan”), making it clear that it will improve the carbon emission trading system and undertake the construction of a national voluntary greenhouse gas emission reduction management and trading center.

The so-called carbon emission trading is the market mechanism used to promote global greenhouse gas emission reduction and reduce global carbon dioxide emissions. Carbon dioxide emission right is regarded as a commodity, forming a trading mechanism of carbon dioxide emission right. According to the national carbon emission trading management measures, the trading products in the national carbon emission trading market are emission quotas and other products.


Qi Hailian, President of Beijing Teyi sunshine new energy, said that in order to achieve the development goal of non fossil energy, in a stable development path of decarbonization, whether it is technology or government policy, or industry management and the transformation and upgrading ability of traditional energy market, it needs a long process of emission reduction, efficiency and quality improvement. In this process, what is lacking is the real market-oriented thinking and mechanism.

This year is the first year of China’s “carbon neutral”, but Beijing has made many attempts to save energy and reduce emissions. Since the pilot carbon market opened in November 2013, it has covered 843 enterprises with an annual carbon emission of more than 5000 tons, including traditional energy consuming industries such as power, heat, cement and petrochemical, public institutions such as universities, hospitals and government agencies, and service industries. So far, the city’s carbon trading emission quota has reached 41.49 million tons, involving 1.745 billion yuan.

To achieve the reduction of carbon emissions, it needs the iteration of production mode transformation. The plan emphasizes the need to promote “green” production mode, including the development of high-end industries, the withdrawal of polluting production capacity, and cleaner production. We will improve the “one license” management system for pollutant discharge permits. For industrial enterprises, medical institutions, transportation enterprises, sewage and garbage centralized disposal units, the responsibilities and contents of pollution control and emission reduction should be clarified, and key carbon emission units should fulfill the obligation of greenhouse gas emission control according to law.

However, if we want to achieve energy transformation, the cost of energy saving and carbon reduction on the enterprise side is huge, and the scale can reach one million billion yuan. Wang Peng, an assistant professor of the people’s Bank of China, said that in order to provide financial support for the development of China’s financial system, this is also the way to guide the development of China’s financial institutions. “The next step is to explore carbon trading and green finance related policy tools, such as promoting local pilot deployment of credit and bonds.”

The “plan” also proposes to improve the effective policy system. Including the construction of green finance reform and innovation pilot zone, the development of green finance. We will promote the establishment of green development funds and issue green credit and green bonds in a market-oriented way. We will improve the investment and financing system for green industries and support industrial upgrading. We will promote emissions trading, environmental pollution liability insurance, and financial leasing of major environmental protection equipment. We will enhance the functions of international green investment and financing services, climate risk assessment, green technology and industrial cooperation, and promote the construction of an international green financial center.

“At present, in addition to applying for the national green finance reform and innovation pilot zone, Beijing is also preparing to build an international green finance institution. At present, Chinese and foreign financial institutions are closely communicating with each other. In addition, Beijing should upgrade the green exchange, upgrade the original environment exchange to a green exchange, and undertake the carbon trading of national voluntary emission reduction and various trading of environmental resources. ” During the aforementioned meeting, Yin Yong, vice mayor of Beijing, disclosed.

In addition, the plan also calls for strengthening financial and tax support, including strengthening the overall planning of municipal funds, implementing the management of special transfer payment for pollution prevention and control, and undertaking corresponding expenditure responsibilities for major environmental governance issues such as trans administrative region, trans basin and international cooperation. We should collect environmental protection tax in accordance with the law, implement preferential tax policies for energy conservation and environmental protection, improve the compensation mechanism, and establish a comprehensive ecological compensation mechanism covering air, water environment, hazardous waste, domestic waste, forest, water flow, wetland and other fields, and link the compensation funds with the improvement of ecological environment quality.

It is worth noting that in the next step, the city will establish a sound and complete credit system. It includes the establishment of a record mechanism of government dishonesty in environmental governance of governments and public officials at all levels; the establishment of an enterprise environmental credit rating evaluation system to dynamically evaluate the environmental credit of key pollutant discharge units, and the implementation of differentiated supervision according to law and regulations; the establishment of a “blacklist” system of pollutant discharge units to restrict the dishonest enterprises.

With the goal of “carbon peak, carbon neutral” put on the agenda, in recent days, related concept stocks have gone against the market and strengthened, which has become the strongest plate of a shares after the Spring Festival. According to statistics, related industry leaders are sought after by the market. Feida environmental protection has risen by 70% in the past 10 trading days, and Sinoma energy saving, Nanwang energy, Shenzhen energy, GCL energy technology, etc. have risen by more than 100%, 90%, 60% and 40% in the past month.

China Merchants Securities research report pointed out that in the global trend of reducing carbon emissions, China’s “double carbon” goal highlights the responsibility of a big country. The reduction of carbon emissions is related to major changes in economic structure and industrial structure, which will bring medium and long-term investment opportunities, such as the use of photovoltaic, wind power and other new energy to replace traditional coal power generation, and the increasing penetration rate of new energy vehicles will reduce the dependence on fossil energy. It is suggested to pay attention to the investment opportunities in the fields of energy substitution, energy saving and material saving, circular economy, etc.

Beijing Business News (reporter Tao Feng, Liu Hanlin)

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