The main forum of 2021 Tianfu financial forum with the theme of "green finance helps' carbon peak and carbon neutralization 'was held in Chengdu on October 29. The main forum was jointly guided by the people's Government of Sichuan Province and Xinhua news agency, provided with academic guidance by the China Institute of finance, hosted by the local financial supervision and Administration Bureau of Sichuan Province and undertaken by Bank of Sichuan Co., Ltd. 2021 is the first year of the 14th five year plan, also known as China's "first year of carbon neutralization". At present, China has become the world's largest energy producer and the world's largest energy consumer. It is urgent to vigorously develop green finance and promote the transformation from high-carbon energy to low-carbon energy. According to various data, in the next 40 years, the investment required to achieve the goal of "carbon neutrality" will be at the level of one million billion yuan. During the meeting, a number of people in the industry and institutions held discussions on financial institutions innovating financial services, increasing green financial investment and helping economic and social green and low-carbon development. The "double carbon" goal brings great opportunities to the financial industry It is China's solemn commitment to the world to achieve carbon peak by 2030 and carbon neutralization by 2060. This is not only China's responsibility to promote the construction of a community with a shared future for mankind, but also the internal requirement for achieving sustainable development. Recently, China officially announced the top-level design, clarifying the timetable and roadmap for carbon peak carbon neutralization. The realization of the "double carbon" goal requires the "two hands" of the effective market and the promising government: on the one hand, we should give full play to the decisive role of the market in allocating resources and guide all kinds of resources and factors to gather towards green and low-carbon development; On the other hand, we should give full play to the role of the government, innovate systems and mechanisms, and accelerate the green and low-carbon scientific and technological revolution. Insiders said that the "double carbon" goal undoubtedly brings great development opportunities to green finance. Li Hui, deputy general manager of Shenzhen Stock Exchange, said in his keynote speech that the capital market can play an important role in guiding the allocation of resources to green and low-carbon fields, reasonably determining the pricing of green and low-carbon assets, innovative tools and mitigating the risks in green and low-carbon fields. It is understood that at present, there are more than 260 listed companies engaged in green industry in Shenzhen, with cumulative equity financing of nearly 800 billion yuan and a total market value of more than 7 trillion yuan, accounting for 20% of the total market value of Listed Companies in Shenzhen. Liu Jianjun, President of postal savings bank, said that low-carbon transformation will create huge investment and financing needs, and financial institutions will usher in new business growth points. According to the estimation of the Institute of climate change and sustainable development of Tsinghua University, the cumulative new investment required to achieve "carbon neutralization" is about 138 trillion yuan, more than 2.5% of GDP every year. In terms of challenges, in the process of low-carbon transformation, some high-carbon enterprises and projects will gradually withdraw, and the quality of financial assets will bear the pressure of fission. Zhan Dongsheng, President of the Agricultural Development Bank of China, pointed out that commercial banks should comply with the trend of green development and seize the great opportunities brought by the transformation of economic growth mode. Carbon peak and carbon neutralization are an extremely extensive and profound green industrial revolution, which will promote the transformation of economic growth mode and inject endogenous power into green development. Commercial banks should actively play a leading role and meet the needs of green financial services through product and service innovation. Layout of financial institutions Green Finance According to various data, in the next 40 years, the investment required to achieve the goal of "carbon neutrality" will be at the level of one million billion yuan. Facing the huge potential green finance market, commercial banks have formulated clear green finance objectives. A number of participants from financial institutions also said that they would innovate financial services, increase investment in green finance and help economic and social green and low-carbon development. Liu Jiandong, risk director of Bank of China, revealed that during the "14th five year plan" period, Bank of China will accelerate the adjustment of industry credit structure, strengthen the balance control of high energy consumption and high emission industries, and increase credit support for green transformation projects such as emission reduction technology upgrading, clean and efficient utilization of fossil energy, and flexible transformation of coal and electricity. Zhan Dongsheng said that the Agricultural Development Bank of China will take the development of green finance and building a "green bank" as its strategic task, focus on the "double carbon" goal, run green development through the practice of financial services for "agriculture, rural areas and farmers", strengthen top-level design, improve governance system, innovate financial services, adhere to the concept of policy banking, increase green financial investment, and fulfill the Agricultural Development Bank of China's responsibilities The responsibility and mission of "green bank". "On the one hand, we should improve the governance system of 'green bank', determine the specific objectives of serving the construction of ecological civilization from the three dimensions of assets, liabilities and operation, improve the green financial policy system and create a green credit standard system. On the other hand, we should strengthen the green financial services of 'agriculture, rural areas and farmers', and support grain production and the supply of green agricultural products,' the Yangtze River bank ',' the Yellow River bank 'and green credit." At the same time, we will increase green financing and foreign cooperation, widely raise social funds at home and abroad, participate in the formulation of green financial standards and the construction of green financial market, and improve the joint force of green financial services, "said Zhan Dongsheng. Lin Gang, Secretary of the Party committee and chairman of Bank of Sichuan, said that financial enterprises, especially banks, are both service providers and guides. From the perspective of service providers, banking institutions can force the real economy to take the road of green development and low carbon through their own risk appetite, product design and tool use. From the perspective of guides, banking industry can use their own tools And cross temporal and cross-border allocation of resources to guide the development of future industries to take a green and low-carbon road. The exchange will also provide assistance for financial institutions to serve green development. Li Hui said that the Shenzhen Stock Exchange will continue to create a market environment and atmosphere for the concept of green finance, negotiate and discuss green financial standards with peers of financial institutions at home and abroad, build a business rule system in line with international standards on the basis of China's green financial development characteristics, and strive to realize green industry, green industry and green finance Through the coordination of green enterprise standards and green financial standards, we have cooperated with market institutions to carry out investor education such as online courses and special research, and are committed to improving the cognition of financial assistance to the "double carbon" goal. Multi party hot discussion on the stability of green finance Although China's green finance is booming at present, people in the industry also pointed out that China still faces multiple challenges in the process of low-carbon transformation. We can neither "rush into mass action" nor "disperse in mass action". We need to carefully grasp the risks and strengthen forward-looking research and judgment, so as to make green finance stable and far-reaching. Liu Jianjun pointed out that in the process of low-carbon transformation, some high-carbon enterprises and projects will gradually withdraw, and the quality of financial assets will bear the pressure of fission. The default rate of these industries may rise sharply. Financial institutions should have a clear understanding of this. We should strengthen the forward-looking research and judgment of climate transformation risks, speed up the adjustment of development plans, business directions and service objects, and plan and improve the corresponding risks in advance Risk prevention mechanism. At the same time, we should also see the current situation that China's industrial structure is biased towards coal and energy structure is biased towards coal. We should make every effort to deal with the relationship between carbon reduction and energy security, industrial chain and supply chain security and people's normal life, effectively deal with the possible economic, financial and social risks associated with the process of low-carbon transformation, prevent overreaction and ensure safe carbon reduction. Wang Wen, executive director of Chongyang Institute of finance of Renmin University of China and Secretary General of green finance professional committee of China finance society, believes that under the background of carbon neutrality, the financial industry is facing transformation and upgrading. It is necessary to serve more ecological industries and industries with low energy consumption, low emission, low pollution and even zero emission and zero pollution, which is a "big upgrade" of concept for everyone In addition, the transformation of the green financial system needs a series of designs of the green financial system. The transaction, pricing, resource allocation and other links are a process of building the system and upgrading the supporting policies in the future. Zhang Qingsong, President of the Agricultural Bank of China, suggested that the credit policies related to the realization of the value of ecological products should be further improved. Credit funds are the direct and strong support of the financial industry for ecological product providers. Commercial banks should introduce special industrial credit policies around the key areas of ecological products, promote the organic integration of green credit index system and credit industry policies, and support the economic base At the same time, it provides comprehensive financial services for the realization of the value of ecological products. Financial institutions can innovate carbon sink pledge loans, ecological loans based on GEP accounting and other new credit products. They can also launch green mergers and acquisitions, green syndicates, green asset securitization, green insurance and other businesses through the issuance of green bonds Realize the value of products and provide all-round financial services. In addition, Zhang Qingsong believes that more financial support models can be explored. Many projects for the realization of the value of financial products have the characteristics of large investment scale, long construction cycle and strong public welfare attributes. Financial institutions should give full play to the role of the market hand, strengthen cooperation with the government and promote the market-oriented operation of the realization of the value of ecological products.