recentlyslotsandvideopokerChina Pacific Insurance Company, a subsidiary of China Pacific Insurance Company (601601), is based on rich green finance research and practical experienceslotsandvideopoker, pioneered repo credit insurance focusing on "carbon asset security", and launched the country's first business in the carbon market in Shanghai to provide carbon asset security in the carbon repurchase transaction between Shenneng Carbon Technology, a subsidiary of Shenneng Group, and Orient Securities (600958). Provide insurance protection. This is another practice of strong alliance, complementary advantages, and continuous innovation between China Pacific Insurance and Shenergy Group in the field of carbon finance after cooperation in carbon asset pledge and carbon asset repurchase fund safety insurance.
Following the implementation of the first order, China Pacific Insurance Property and Casualty Insurance Shanghai Branch implemented the second order of carbon asset repurchase credit insurance with Shenneng Carbon Technology and Qifan Cable. Qifan Cable, which participated in this transaction, included carbon emission quota management enterprises for Shanghai City. This carbon repurchase transaction will help companies broaden carbon reduction financing channels, flexibly obtain low-cost carbon reduction funds, and help reduce costs and increase efficiency.
It is reported that carbon asset repurchase credit insurance refers to a contract based on a carbon asset repurchase agreement and insured by carbon asset holders to protect them from economic losses suffered by the fund provider's failure to fulfill its carbon asset resale obligations. This product is another carbon market-exclusive green insurance after the carbon asset repurchase guarantee insurance. It further improves China Pacific Insurance's green insurance product system serving the carbon market and effectively protects carbon asset holders, especially those included in carbon emission quota management. The safety of carbon assets of enterprises has greatly enhanced the willingness of carbon asset holders to sell carbon assets. On the one hand, it facilitates them to obtain short-term repurchase financing, and on the other hand, it will enhance the liquidity of the carbon market. Further stimulate energy efficiency in the carbon market.
As a responsible insurance company, China Pacific Insurance Corporation leverages its professional advantages, continues to innovate green finance, and joins hands with all parties to promote the development of new productive forces. At the beginning of this year, the Shanghai Environment (601200) Energy Exchange officially launched the Shanghai Carbon Market Repurchase Trading Business. China Pacific Property and Casualty Insurance Shanghai Branch was the first batch of Shenneng Carbon Technology, CITIC Securities (600030), and China International Capital Corporation to participate in carbon repurchase transactions. The company provides carbon asset repurchase insurance, providing a "key link" to ensure the smooth progress of carbon asset repurchase transactions.
As the "double carbon" goal continues to advance, the role of green finance has become increasingly prominent. The "Guiding Opinions on the Five Major Articles" of Banking and Insurance to Do a Good Job in Finance "recently issued by the State Administration of Financial Supervision clearly stipulates that we should enrich green financial products and services, develop pledge financing for environmental rights such as carbon emission rights and emission rights, and explore green insurance premium adjustment mechanism promotes the development of green insurance business in fields such as environmental protection, climate change, green industry and technology.
China Pacific Insurance will actively implement the major decisions and arrangements of the Party Central Committee and the State Council on carbon peaking and carbon neutrality, continue to strengthen its own capacity building, actively play the role of insurance in responding to climate risks and enhancing social resilience, and continuously enrich insurance services to multi-level carbon markets. Solutions for system construction, make every effort to do a good job in green finance, and continue to support the green transformation of the real economy.
