Deputy Chairman of the Beijing Green Stock Exchange, Modon: The global construction of a carbon -based price system based on the voluntary carbon market
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On December 16th,热议资讯 the "Sanya · Finance International Forum" jointly sponsored by the Sanya Municipal People's Government and co -sponsored by the "Finance and Economics", Finance Network, and Finance Think Tank was held in Sanya, Hainan.road".Modon, vice chairman of the Beijing Green Exchange and Secretary -General of the Beijing Green Financial Association, said that the world is from supply to demand, from the government, from industry to finance, from domestic to international.Volunteer carbon market -based carbon price system.

Picture 1

Modon, Vice Chairman of the Beijing Green Exchange and Secretary -General of the Beijing Green Financial Association

According to Medvex, the carbon market is divided into two types of markets, forced carbon markets and voluntary carbon markets.The mandatory carbon market is mainly aimed at high -energy -consuming, high -pollution, high -emission energy -intensive industry enterprises, similar to the restraint mechanism, allowing enterprises to pay the externally social comprehensive emission reduction costs that should be paid; the voluntary carbon market is more of an incentive mechanism., Stimulate those low -carbon, zero -carbon or even negative carbon industries.

Medvian believes that the carbon market is a product of climate change, with two distinctive characteristics, namely property rights and finance.The effectiveness, liquidity, and stability of the carbon market basically depends on the definition of clearly, clear, fair and reasonable carbon emission property rights. It is based on total control and transaction confirmed system. This is a necessary condition;This is a sufficient condition.Only in accordance with these two conditions can we achieve the goal of "more effective, more energetic, and more international influential carbon market.

Talking about what the voluntary carbon market plays a role in economic growth, Medvex quoted the General Secretary's speech this year. The General Secretary said, "The world's nearly half of the photovoltaic in China, more than half of new energy vehicles in China, exceeding 1/4 The new greening area of 4 is in China, and China exports a new three & mdash; photovoltaic, lithium batteries, new energy vehicles ", but how can we do it more?At least two conditions, that is, long -term stable expectations and long -term stable funds, of course, cannot be separated from green finance, green bonds, green stocks, etc."I think that in the process of carbon neutrality in China, in the development of China's new energy industry, the carbon market is absolutely inseparable from the carbon market. The carbon market can provide a long -term stable expectation for China's new movements." He saidEssence

The following is a partial record of speech:

I said two points. One is the current status and trend of voluntary carbon market development, and the other is what the voluntary carbon market played for economic growth.

First, the current situation of the carbon market.

From the status quo, we know that there are two carbon markets, forced carbon markets and voluntary carbon markets.The mandatory carbon market is mainly aimed at high -energy -intensive energy -intensive industry enterprises with high energy -consuming, high pollution, and high emissions. It is similar to the constraint mechanism, allowing these enterprises to pay the external emission reduction costs that should be paid. Volunteer carbon markets are more incentives.The mechanism inspires those low -carbon, zero -carbon or even negative carbon companies, because at least in the early days, the emission reduction income of these enterprises cannot cover costs, so the design of such a system has played a role in motivating.These are the two categories in the carbon market. They are commonly talked about a fine and a subsidy.

Because the voluntary carbon market is not particularly public, similar to private equity, its transaction volume cannot be accurately statistics. It is said that last year's scale was about 1 billion to $ 2 billion, and it is expected to be about 50 billion to 100 billion US dollars in 2030.The origin of this data is based on the SDG sustainable development goals. According to the Paris Agreement, the global emission reduction in 2030 needs to reach 23 billion tons, of which about 2 billion tons come from voluntary emission reduction. According to the basic price of US $ 25-50 per ton, calculate per ton.The global voluntary carbon market may reach 50 billion to 100 billion US dollars in 2030. Bloomberg New Energy Finance is expected to be $ 500 billion by 2050.Some people may say that we are doing the voluntary carbon market. We must like to say it to Dali, but this number is not our statistics, it is predicted by the third -party agency of Bloomberg New Energy Finance.

Regarding the global carbon market trend, I first talk about the conclusion that the world from the government to the people, from industry to finance, from supply to demand, from domestic to international, is building a carbon price system based on the voluntary carbon market in order.This is a trend.Let me say why, it is well known that the carbon market is a product of climate change. There are two significant characteristics of climate change. One is international or international, worldwide, and the other is market mechanism or financial means.It is an international market mechanism or internationalized financial means, or an international mechanism design, which can be said to be the perfect combination of Kos theorem and modern finance.

The Kyoto Protocol emphasizes that CBDR is common but different responsibilities. The Paris Agreement emphasizes the overall emission reduction. OMGE (global emissions overall slow) has changed profoundly.The market will definitely go to interconnection. There are several key signal events in it: First, the United Nations is promoting the establishment of a unified global voluntary carbon market under the Paris Agreement 6.4, that is, SDM sustainable development mechanism; second, the CORSIA mechanism of the International Civil Aviation OrganizationFrom the industry level, try to promote the global carbon market Unicom, requiring airlines with international flights to reduce emissions. It is expected that at least 2.5 billion tons of carbon credit demand from 2027 to 2035; third, the EU carbon market has clearly said goodbye to carbon carbonAvoid projects, there will be no carbon avoided projects in the future. This is a trend; the fourth is CBAM carbon tariffs, and 2026 is officially levied; fifth, the United States has launched the IRA inflation reduction bill last year, subsidizing new energy US $ 369 billion.It is in this context that the world from supply to demand, from the government, from the government, from industry to finance, from domestic to international to build a unified carbon price system with a unified carbon market as a voluntary carbon market.

I just said that the carbon market has two most vivid theoretical foundation. The first is property rights, and the second is finance. If it is expanded, its effectiveness, liquidity, and stability basically depends on the clear property definition of the definition of property rights rights.This is a necessary condition based on total design and quota distribution; the second must have financial products or market -oriented products, which is a sufficient condition.Only in accordance with these two conditions can it achieve the so -called effectiveness, liquidity, and stability, and achieve the more effective, more vibrant and international influential carbon market that the General Secretary emphasizes.

Second, what role does the voluntary carbon market play a role in economic growth?

Just now, the General Secretary emphasized that nearly half of the world's photovoltaic in China, more than half of new energy vehicles in China, more than 1/4 new greening area in China, photovoltaic, lithium batteries, and new energy vehicles have become my country Exit new three.In addition, we also noticed that Zhu Yunlai, the former president of CICC, always emphasized many times that China may replace the real estate industry as the photovoltaic industry, but how to develop the new energy industry represented by the photovoltaic industry is better.Conditions, first, long -term stable expectations, second, long -term funds, this is inseparable from green finance, the capital market, green claims, green stocks, etc., and it is inseparable from the carbon market.Although the size of the Chinese carbon market is very small, I think that in the process of China's carbon neutrality, the carbon market is absolutely inseparable in the development of China's new energy industry, because the development of the photovoltaic industry needs to "guide investment, stabilize expectations, discover discovery, discover discoveriesThe market for price, reduction of costs, and avoiding risks "is the carbon market.