Carbon Market and Carbon Economy at Home and Abroad - A Hot Event in the 2021 CIFTIS

On the morning of September 7, Carbon Market and Carbon Economy at Home and Abroad, a hot conference lasted until one o’clock in the afternoon, enjoyed tremendous popularity.   

Organized by the International Green Economy Association (IGEA), the conference invited big wheels to share their experience and counsel in the carbon market and carbon economy area.

Among the professional authorities attending the conference were Shanghai Environment and Energy Exchange, which is responsible for the national carbon trading, the China Beijing Green Exchange, which promotes a voluntary emissions-reduction mechanism, the Institute of Energy, Environment and Economy of Tsinghua University, a renowned think tank responsible for designing a national carbon emissions trading system, and the leading domestic institution in the field of carbon sink economy, the China Green Foundation from the National Forest and Grass Administration.

Mr. Xiaoming Lai, head of the National Carbon Market Trading Center and chairman of Shanghai Environment and Energy Exchange, introduced the national construction and development of the carbon market in China. He said, the construction of carbon market in China has entered into a new stage. China now is accelerating its establishment of the whole market mechanism framework and speeds up to get the market in gear. The first implementation period of the national carbon market has been launched in 2021, starting with the power generation industry and gradually expanding to eight key industries. Industries such as building materials, nonferrous metals, steel are expected to be included in the national carbon market next year.

He introduced the framework of the national carbon market in detail, including the covered sectors of the carbon market, the allocation of quotas, carbon trading, accounting report and verification system and the establishment of corresponding market supervision mechanism. In addition, he said, in view of these situations, the exchange will provide the corresponding training services for enterprises to help them establish the corresponding carbon trading management system as soon as possible.    

The key work of Shanghai Environment and Energy Exchange will be, first, speeding up the opening of trading accounts for major emission enterprises; Second, steadily organize the national carbon emission market, actively carry out all kinds of capacity building training, improve the engagement of enterprises; Third, standardize the release and supervision of national carbon emission trading information and the release of carbon trading information; Fourth, we will encourage investment institutions to enter the market. In the future, it is necessary to promote the formation of a multi-level carbon market, not only with spot goods, but also with various derivatives, and to launch carbon futures in cooperation with financial futures markets. Multi-level markets jointly form a carbon market system to serve the energy conservation and emission reduction.

Mr. Maosheng Duan, deputy director of the Institute of Energy, Environment and Economy of Tsinghua University, director of China Carbon Market Research Center, delivered a keynote speech on the characteristics of China's national carbon market and the future trend of China’s carbon market. He said, carbon pricing as a measuring tool is incredibly important for both enterprises and financial institutions. 

Ms. Nicolette Bartlett, Interim Executive Director of CDP, Mr. Yoon Seok Heon, Chairman of Asian Economic Development Association, and Mr. Jianyu Zhang, Chief Representative and Vice President of the Environmental Defense Fund China Program delivered a report speech respectively on green economy, low carbon market and its mechanism.

Mr. Dewen Mei, general manager of the China Beijing Green Exchange, introduced voluntary emission reduction markets at home and abroad. He said that China may do some exploration in the marketization of trading entities, the financialization of trading products, and the internationalization of trading supervision. Carbon markets are essentially for structural adjustments. As a developing country, China is bound to face complicated challenges in the process. However, China's carbon market, especially CCER market, can effectively promote the development of China's new energy industry. In the future, carbon markets are likely to develop into standard international markets. The most important value of CCER market is to promote the development of new energy industry and to promote the implementation of contracts with low cost and high efficiency.

Ms. Jing Zheng, general manager of the Shandong Zhonghe Carbon Emission Service Center, Industrial Development Group shared their experience and practice on ways of providing high-quality regional services across China. 

Mr. Wei Li, general manager of the Rockontrol Technology Group, analyzed how carbon monitoring smart service platform empowers the high-quality development of the carbon market.

Mr. Xuesong Wang, director assistant of the Energy Development Research Institute of the China Electric Power Planning & Engineering Institute, shared the positive effect of carbon market on low-carbon transformation and development of power system from the perspective of the transformation path of energy power under the dual carbon goal and the new power system.

Mr. Peng Chen, vice president of China Green Foundation, stressed the importance of carbon sinks in helping to achieve carbon neutrality. He pointed out that ecosystem carbon sinks are very powerful. From heavy forest carbon sinks in the past, they are now expanding to forests, wetlands, grasslands, oceans, and in the future there will be agricultural carbon sinks. The scope of ecological domain is constantly expanding. As China strives to meet president Xi Jinping's goal of increasing forest stock by 6 billion cubic meters over 2005, forest carbon sinks will play an important role in achieving carbon neutrality.

Mr. Hongguang Yan, general manager of Inner Mongolia Forest Industry Group, attended the conference and delivered a speech. He said that with 106,700 square kilometers of ecological function zones, green carbon sinks in Daxing 'anling key forest area continue to expand. According to the estimation of experts from the Chinese Academy of Forestry, the annual ecosystem service value of forest regions operated by Inner Mongolia Forest Industry Group is 616 billion yuan, of which the total value of "green carbon pool" is 107.175 billion yuan. The complete ecosystem and abundant forest resources provide broad space and great potential for Inner Mongolia Forest Industry Group to implement the national "dual carbon" strategy. Inner Mongolia Forest Industry Group will strive to be the carbon sink demonstration among state-owned forest areas, and to create the country's largest state-owned forest carbon sink reserve base. 

Mr. Xingtao Shan, representative of the Meng Shu Ecological Construction Group, displayed their plan to actively integrate into the future voluntary emission reduction CCER carbon offset market after the launch of China's national carbon market.

After the conference, a number of cooperation outcomes has been reached. Taking CIFTIS as a national and international platform, the core institutions and enterprises of the carbon market, including regional service centers of the carbon market, financial institutions and carbon sink institutions, have signed strategic cooperation agreements respectively, and established deeper and longer cooperative relations to promote the establishment of a better industrial system of the national carbon market.

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