1. The Shanghai and Shenzhen North Stock Exchanges officially issued guidelines for the sustainable development reports of listed companies
On April 12, the Shanghai Stock Exchange, Shenzhen Stock Exchange and Beijing Stock Exchange officially issued the Guidelines for Sustainability Reporting of Listed Companies, which will be implemented from May 1, 2024. The Guidelines consist of 6 chapters and 63 articles, which clarify the arrangements for the implementation of the rules, the disclosure framework, and specific topics. It is clarified that companies that continue to be included in the sample of SSE 180, STAR 50, SZSE 100 and ChiNext indices during the reporting period, as well as companies listed at home and abroad, should disclose their 2025 sustainability reports for the first time by 2026 at the latest, and encourage other companies to disclose them voluntarily. Under the unified deployment of the China Securities Regulatory Commission, the Shanghai and Shenzhen North Stock Exchange will do a good job in market training and other services, formulate more detailed disclosure guidelines in a timely manner, provide specific guidance for listed companies to implement the provisions of the Guidelines, and support relevant departments to do a good job in ESG rating, index development and investment, etc., so as to further enhance positive incentives and promote the construction of a good sustainable ecosystem. In addition, the Shanghai and Shenzhen Stock Exchanges said that they will also expand the scope of mandatory disclosure entities in a timely manner according to the implementation of the Guidelines, promote more listed companies to disclose high-quality sustainable development information, and promote the consolidation of the foundation for the high-quality development of listed companies.
2. Southern Energy Regulatory Bureau: Issued the "Implementation Plan for the Linkage of Green Certificate Data Verification in the Three Southern Provinces (Regions)"
On April 10, the Southern Energy Regulatory Bureau issued the "Implementation Plan for the Linkage of Green Certificate Data Verification in the Three Southern Provinces (Regions)" to further clarify the responsibilities of all parties and promote the standardization of green certificate data verification. The plan requires power generation enterprises to raise their awareness of responsibility and accurately fill in application materials, power trading centers and power grid companies to carry out full data verification as required, and the Southern Energy Regulatory Bureau is responsible for supervising and checking the verification results to ensure that the green certificate issuance data is 100% reviewed and 100% accurate.
3. Increase financial support for the manufacturing industry, and the State Administration of Financial Supervision and other three departments jointly issued a document
On April 16, the State Administration of Financial Regulation, the Ministry of Industry and Information Technology, and the National Development and Reform Commission jointly issued the Notice on Deepening Manufacturing Financial Services to Help Promote New Industrialization It is required to put financial support for the high-quality development of the manufacturing industry in a more prominent position, take deepening the structural reform of the financial supply side as the main line, improve the financial policy system and market system of the manufacturing industry, promote the coordinated efforts of banking and insurance institutions, focus on the key tasks of promoting new industrialization, continue to increase financial support, optimize the financial service model, enhance the ability of financial specialization, and promote the development of financial support for the manufacturing industry to achieve effective qualitative improvement and reasonable quantitative growth. The "Notice" mentions that efforts will be made to support the safety and stability of the industrial chain and supply chain. Increase financial support for weak areas such as basic components, basic materials, basic software, and industrial software. Focus on supporting the development of industrial intelligence and green. It is necessary to increase support for the core industries of the digital economy, and strengthen financial services in the fields of intelligent equipment, digital infrastructure, and new forms of industrial Internet. Vigorously promote the development of green finance, and support carbon emission reduction, green transformation, resource conservation and efficient recycling, and the construction of a green energy system in the industrial sector.
4. Seven departments: jointly issued the "Notice on Further Strengthening the Construction of Green Mines"
On April 16, the Ministry of Natural Resources and other seven departments jointly issued the Notice on Further Strengthening the Construction of Green Mines. The "Notice" puts forward the goal of green mine construction by the end of 2028, requiring mining enterprises to assume the main responsibility, promote the construction of green mines by category, accelerate the promotion of green and low-carbon technologies, and improve the level of mining enterprises. At the same time, we will increase policy support, including the implementation of tax incentives and the encouragement of financial institutions to provide special credit products for green mines, so as to promote the sustainable development of green mines. It is mentioned that by the end of 2028, the working mechanism of green mine construction will be more perfect, and 90% of large-scale mines and 80% of medium-sized mines in production with certificates will meet the requirements of green mine standards.
5. The list of the first batch of national green and low-carbon demonstration projects was released
On April 16, the General Office of the National Development and Reform Commission issued a notice on the issuance of the "List of Green and Low-carbon Advanced Technology Demonstration Projects (First Batch)". There are a total of 47 projects in the project list, which are classified according to the direction of carbon reduction, with a total of 22 source carbon reduction projects, 19 process carbon reduction projects, and 6 terminal carbon sequestration projects. According to the list, there are 11 projects involving photovoltaic manufacturing or photovoltaic participation, and the photovoltaic manufacturing projects are mainly 2GW new high-efficiency cadmium telluride thin-film solar cell projects (Phase I), and more projects belong to integrated energy power projects, including nuclear and photovoltaic complementation, photovoltaic hydrogen and ammonia production, zero-carbon power plants, photovoltaic storage and charging, BIPV, zero-energy buildings, photovoltaic + transportation, etc. The project owners involve enterprises such as State Power Investment Corporation, China Energy Construction, China State Construction Group, Anhui Energy, Xiangtou and NIO.
6. Guangzhou: By 2025, the growth rate of the city's green loan balance will be higher than the growth rate of the balance of various loans
The Office of the Financial Commission of the Guangzhou Municipal Committee of the Communist Party of China recently officially issued the "Implementation Plan for the Development of Green Finance in Guangzhou to Support Carbon Peaking". The plan proposes that by 2025, the green financial service system suitable for carbon peak will be more optimized, the green financial standard system will be more perfect, the risk control system will be continuously improved, the supervision and information disclosure of financial institutions will be strengthened, and the green financial products and market system will be continuously enriched. It is reported that the growth rate of the balance of green loans in Guangzhou is higher than the growth rate of the balance of various loans, the proportion of green loans and the issuance of green bonds continue to increase, and green insurance is fully and deeply involved in climate and environmental risk management.
7. Singapore released a map of sustainable finance transformation to provide guidance for financial practitioners to strengthen their sustainability skills
8. The European Union passed rules requiring all new buildings to achieve zero emissions by 2030
The European Council recently announced that it has officially adopted the revised Building Energy Performance Directive (EPBD), which aims to reduce energy use and emissions from buildings across the EU, including a goal of zero emissions for all new buildings by 2030 and a phase-out of fossil fuels in building heating systems by 2040. Buildings are a major source of global greenhouse gas (GHG) emissions and are among the most difficult to replace due to their long-term nature. According to the European Commission, buildings account for 40% of the EU's energy consumption and 36% of energy-related greenhouse gas emissions. 80% of a household's energy consumption is spent on heating, cooling, and hot water. Key provisions in the updated directive include requiring all new residential and non-residential buildings to achieve zero on-site emissions from fossil fuels by 2030, a milestone that public buildings must reach by 2028. The updated rules also require member states to develop measures to phase out fossil fuels for heating and cooling buildings, with a view to completely phasing out fossil fuel-powered boilers by 2040. By 2050, the directive envisages converting the EU's building stock to zero-emission buildings.
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