ESG Week丨The International Energy Agency released the World Energy Outlook 2023, and 16 state-owned enterprises participated in the ESG roadshow on the Shanghai Stock Exchange
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ESG policy
The Ministry of Ecology and Environment (MEE) has announced four methodologies for voluntary greenhouse gas emission reduction projects
Following the announcement by the Ministry of Ecology and Environment (MEE) and the State Administration for Market Regulation (SAMR) on October 20 of the Measures for the Administration of Voluntary Greenhouse Gas Emission Reduction Trading (Trial) (hereinafter referred to as the "Administrative Measures"), the Ministry of Ecology and Environment (MEE) announced the methodology for four voluntary greenhouse gas emission reduction projects on October 24. It is understood that the methodologies of the four voluntary greenhouse gas emission reduction projects released this time specifically include afforestation carbon sinks, grid-connected solar thermal power generation, grid-connected offshore wind power generation, mangrove construction, etc., which are the main basis for guiding the design, implementation, validation and emission reduction accounting and verification of greenhouse gas voluntary emission reduction projects in specific fields.
Comments:The Ministry of Ecology and Environment (MEE) has announced four methodologies for voluntary greenhouse gas emission reduction projects，标志CCER（国家核证自愿减排量）正式恢复交易的日期已越来越近。不过，方法学如何与国际接轨，推进我国的CCER项目参与国际市场交易，还有一段路要走。
ESG Collaboration
The National Development and Reform Commission (NDRC) and the California State Government signed a Memorandum of Understanding (MoU) on Strengthening Cooperation on Low-Carbon Development and Green Transition
On October 25, Zheng Shajie, Director of the National Development and Reform Commission of the People's Republic of China, met with Governor Gavis Newsom of the United States of America in Beijing, and the two sides exchanged views on strengthening exchanges and cooperation in the field of green and low-carbon, and signed the Memorandum of Understanding between the National Development and Reform Commission of the People's Republic of China and the Government of California of the United States of America on Strengthening Cooperation on Low-Carbon Development and Green Transition.
Comments:At present, the world is promoting green and low-carbon development, which is an inevitable choice for the sustainable development of human society. As one of the world's largest economies, cooperation between China and the United States in this field is of great significance. By strengthening cooperation, we can promote the exchanges between the two sides in environmental protection technology and environmental protection industry, and promote the development of global environmental protection.
ESG Releases
The Annual ESG Best Practice Report was released
At the ESG China Forum Innovation Annual Conference (2023) held in Beijing on October 22, China Media Group released the research results of the "ESG China Forum" - the "Annual ESG Excellence Report", and 30 excellent enterprise cases in the field of ESG were included in the report. These 30 cases cover central enterprises, local state-owned enterprises, private enterprises, including finance, information technology, petroleum and petrochemical, energy and power, building materials, iron and steel metallurgy, medical care, new energy and other industries.
Comments:The cases in the report cover different ownership, industries and fields, and demonstrate the innovative measures and achievements of Chinese enterprises in responding to climate change, protecting the ecological environment, promoting social equity, and improving governance, which will help promote more enterprises to participate in ESG practice and promote the high-quality development of China's economy and society.
The International Energy Agency (IEA) has released its World Energy Outlook 2023 report
The World Energy Outlook 2023 report released by the International Energy Agency on October 24 pointed out that by 2030, the world's energy system will undergo major changes, the number of electric vehicles in the world will be nearly 10 times that of today, and the share of renewable energy in the global electricity mix will be close to 50%.
Comments:The report reflects that the global energy system is undergoing profound transformation and transformation, and low-carbon, clean and renewable new energy is becoming the mainstream trend of energy development, and looks forward to business opportunities and investment potential in the energy sector. With the rapid development of electric vehicles and renewable energy, the related industrial chain and market demand will also continue to expand.
According to the report, China has become the world's largest green credit market and the second largest green bond market
On October 26, the Paulson Institute's Center for Green Finance and the Beijing Institute of Green Finance and Sustainable Development jointly released the report "Fintech for China's Green Finance: Case Studies and Prospects (2023)" in Beijing. According to the report, China has become the world's largest green credit market and the second largest green bond market in terms of the scale of green financial products.
Comments:Fintech is an indispensable and important infrastructure to support the development of green finance and transition finance, and it has great advantages and potential in improving the efficiency of green finance, reducing costs, expanding coverage, and enhancing transparency. The Chinese government has been committed to promoting the development of green finance, and digital finance has contributed to the scale and status of related products.
ESG Actions
The China Blue Carbon Development Forum was held in Sanya
10月24日，The China Blue Carbon Development Forum was held in Sanya。在论坛上，海南省科技厅相关负责人介绍，海南高度重视蓝碳研究工作，将于近日印发《海南省科技支撑碳达峰碳中和实施方案》，提出“强化海洋碳汇创新平台建设”“推进海洋生态系统碳汇及渔业碳汇试点工作”“积极引进一批可推动海洋碳汇的领军人才与团队”“深化海洋碳汇领域区域创新合作”等内容，并将“蓝碳增汇技术”列入关键技术清单，推动蓝碳与科技创新深度融合。
Comments:Ocean carbon sinks are an important part of the carbon market, but the current relevant policies and market mechanisms are not perfect. Hainan Province attaches great importance to and actively explores the construction of the blue carbon market, which is of great value, showing Hainan's measures and achievements in related fields, and also providing reference and demonstration for other coastal areas.
Sixteen state-owned enterprises appeared in the Shanghai Stock Exchange's ESG collective roadshow
On October 26, the 2023 Shanghai Stock Exchange High-quality Development Collective Roadshow - ESG Special Session of Central Enterprises was held, and senior executives of a number of "Zhongzitou" listed companies, including PetroChina, China Telecom, and China Shenhua, took turns to appear on the stage to conduct in-depth exchanges with investors on hot topics of market concern. It is understood that a total of 16 listed companies controlled by central enterprises participated in the centralized roadshow, and many leading central enterprises such as "three barrels of oil" and three major operators all appeared.
Comments:As an important pillar of China's economy, central enterprises are also the first type of enterprises required by the regulator to disclose ESG reports, and the "valuation system with Chinese characteristics" also needs to be recognized in Chinese and foreign capital markets, and ESG plays an important role in integrating with international standards.
ESG perspectives
Li Jun, Director of the Social Responsibility Bureau of the State-owned Assets Supervision and Administration Commission of the State Council: Strengthening ESG construction is an important starting point for cultivating world-class enterprises
"For China's outstanding enterprises, practicing the concept of ESG and better fulfilling their social responsibilities is an inevitable requirement for high-quality development in the new era, and it is also an objective need to integrate into the international mainstream and integrate with international rules. On October 22, Li Jun said at the ESG China Forum Innovation Annual Meeting held in Shougang Park that the majority of central enterprises have continuously increased their attention to ESG, continuously improved their management systems, continuously improved their work systems, and continuously improved their governance capabilities, and have achieved remarkable results overall.
Comments:Actively embracing ESG can promote exchanges and cooperation between enterprises, promote the development of ESG, promote China's international cooperation and exchanges in the field of ESG, and improve China's influence in the global ESG field.
Shi Han, Director of the ESG Center of the China Business School of the University of Hong Kong: A-shares can learn from the Hong Kong Stock Exchange and gradually increase ESG disclosure requirements
Recently, Shi Han, director of the ESG Center of the China Business School of the University of Hong Kong, said in an interview with the media that the gradual ESG disclosure requirements, diversified ESG disclosure guidelines, and interactive ESG communication and learning platform of the Hong Kong Stock Exchange - ESG Academy are valuable for A-shares. A-shares should follow up and implement mandatory ESG disclosure requirements as soon as possible so as not to lag behind international standards and market demand.
Comments:Hong Kong stocks are overseas markets, and learning from the ESG disclosure standards of the Hong Kong Stock Exchange can not only obtain a systematic disclosure method, but also help mainland listed companies to integrate with overseas capital.
封面Image source: Visual China-VCG111347969476
