Carbon emissions have market value, so can this value help companies get loans? Recently, Shanghai Rural Commercial Bank broke the traditional loan idea, actively responded to the national double carbon target, and issued the first CCER (China Certified Voluntary Emission Reduction) future income right pledge loan to Jinko Power Technology Co., Ltd. (hereinafter referred to as "JinkoSolut").
This is another innovative measure of Shanghai Rural Commercial Bank in supporting green finance, based on the transaction price of CCER in the national carbon market, by pledging the corresponding future income rights of CCER projects, providing Jinkot with working capital loans for daily business turnover.
In February this year, the Ministry of Ecology and Environment issued the Administrative Measures for Carbon Emissions Trading (Trial Implementation), and in May, the rules for the registration, trading and settlement of the carbon market were successively issued, and the national carbon emission trading market was officially launched on July 16, 2021. During this period, Shanghai Rural Commercial Bank has repeatedly engaged the Shanghai Environmental and Energy Exchange to conduct in-depth exchanges with customers of leading photovoltaic enterprises in the field of carbon asset trading and pledge loans. On the basis of the "Operating Procedures for Assisting in CCER Pledge Business" revised and issued by the EEX in February, Shanghai Rural Commercial Bank has compiled the relevant system for the valuation of the value of CCER's future income rights and pledge operations, and included THE CCER future income rights into the scope of bank collateral, making it a new guarantee resource. This practice has undoubtedly effectively revitalized the carbon assets of enterprises, given more value to reducing carbon emissions, and also played a role in promoting the achievement of the dual carbon target.
Shanghai Rural Commercial Bank said that green is the background of the bank's development, and will continue to explore new ideas, new models and new methods of green financial services in the future, so as to make green finance distinctive, marketable and effective, and contribute to the green in the Yangtze River Delta and even the whole country.
This article originated from the financial world
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