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21st Century Business Herald reporter Li Deshangyu Guo Xiaojie intern Xu Jiayang reports from Wuhan

On July 21, the 2024 China Carbon Market Conference was held in Wuhan. Zhu Guohui, general manager of Carbon Emission Rights Registration and Settlement (Wuhan) Co., Ltd. (hereinafter referred to as "China Carbon Registration"), was interviewed by many media including 21st Century Business Herald, discussing the four development trends of the national carbon market expansion and the challenges of the future development of the carbon market.

Zhu Guohui pointed out that the construction of the carbon market is a gradual process of change, and its development trends can be summarized into four aspects. First, in accordance with the strategic deployment of the country's "14th Five-Year Plan", eight key industries will be fully included in the carbon market system, indicating that the market capacity will expand significantly in the future and the industry coverage will continue to expand. Secondly, the current market access is mainly limited to enterprises with high emission intensity in the power industry, but according to relevant regulations, compliant investors and other institutions will also be allowed to participate in the future. Therefore, the number of participants and trading objects such as financial institutions will increase in the future, and the participants in the carbon market will become more and more diversified. Third, carbon prices may experience certain fluctuations in the future. If the quota allocation is further tightened in the future or a paid allocation mechanism is implemented, the carbon price may show a steady upward trend. Finally, the expansion of international cooperation paths in the carbon market has become an important issue. On the premise of ensuring the desensitization of sensitive data, how to deepen exchanges and cooperation with the international community will be a key area that needs to be deeply thought about and planned in the future.

Zhu Guohui introduced the current preparatory work for the expansion of the carbon market and the development of carbon finance. Zhu Guohui said that relevant departments are actively promoting the expansion of the carbon market and the industry quota plan in the subsequent compliance cycle, and the expansion of the carbon market and the improvement of the policy system are being carried out in full swing. He introduced that China Carbon Registration is currently promoting the construction of a series of software and hardware facilities in the national carbon market, and at the same time conducting in-depth docking and research with financial institutions, aiming to conduct research and preparation in advance for the innovative development of carbon finance after the expansion of the carbon market. For enterprises, Zhu Guohui emphasized the importance of enterprises strengthening their own capacity building, and said that in the future, China Carbon Registration will carry out special training for enterprises that will be included in the scope of expansion through the development of simulation systems and other work, to help enterprises quickly master the new rules and management systems, and ensure a smooth transition and effective participation.

At the same time, Zhu Guohui also said that balancing development and security is still a major challenge for the future development of the carbon market. From a development perspective, there are still some views that the carbon market brings operational pressure to the development of enterprises, but from the perspective of protecting human welfare and addressing the urgent need for global climate change, the establishment of a carbon market is an indispensable key link. Therefore, how to effectively promote the construction of the carbon market while ensuring the development of enterprises and achieve harmonious coexistence between the two is an important issue that needs to be solved urgently.

In terms of promoting international cooperation in the carbon market, Zhu Guohui believes that China is currently facing tremendous pressure on the international climate change issue. As the country with the largest emissions, China faces many expectations and requirements from the international community for addressing climate change. This situation requires us to actively respond to international pressure and adhere to our own development positioning and principles in the future construction of the carbon market and international cooperation. Promoting the formation of international consensus on rules such as carbon accounting standards is also an important task that China must face in exploring the path of international cooperation in the carbon market.