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21st Century Business Herald reporter Wang Xue and intern Bao Rui report from Wuhan

On July 20, Hubei Province announced the establishment of a 10 billion yuan green and low-carbon development fund, which will mainly invest in green and low-carbon industries such as clean energy, green transportation, green infrastructure, as well as advanced manufacturing, artificial intelligence, new quality productivity and other industries that are in line with the national strategic development direction, to help Hubei's green transformation and development.

It is reported that the fund was initiated by Hubei Hongtai Group and jointly established with China Chengtong Group, Hubei Provincial Government Investment Guidance Fund, Wuhan Huangpi District Government, etc. It has completed registration and the first phase of investment is 2 billion yuan. Among them, Hubei Hongtai Group is 100% controlled by the Hubei Provincial Department of Finance and is responsible for the construction of China Carbon Registration and Hubei Regional Carbon Market (Hubei Carbon Emissions Trading Center).

The carbon market has become a business card for Hubei. As one of the first pilot provinces and cities for carbon emission trading, Hubei's regional carbon market officially opened in 2014, and it has been ten years now. In the past ten years, Hubei's regional carbon market has continuously innovated in terms of trading system, system construction, and quota allocation, and has covered 16 industrial sectors such as steel, cement, petrochemicals, and chemicals. The trading scale ranks first among the pilot carbon markets in the country, accounting for more than 40% of the country.

In July 2021, the national carbon market core hub, China Carbon Registration, was established in Hubei and went online, assuming the registration, registration, and settlement functions of the national carbon market, which is equivalent to the "carbon asset brain" of the national carbon market, making Hubei a hot spot for low-carbon economy. So far, as the core hub platform of the national carbon market, China Carbon Registration has served 2,533 companies across the country, ranking first in the world in terms of business scale, and has reduced the overall emission reduction costs of the national power industry by about 35 billion yuan.

How to transform the first-mover advantage into a development advantage? In August 2023, the main leaders of the Hubei Provincial Government stated at the China Carbon Construction Work Symposium that it is necessary to give full play to the industry guidance role of the "Dual Carbon Fund" and establish a 10 billion scale green and low-carbon fund. The "Three-Year Action Plan for Accelerating the Development of Energy-Saving and Environmental Protection Industries in Hubei Province (2023-2025)" also proposed: "Relying on the provincial government investment guidance fund, Hongtai Group will lead the establishment of a green and low-carbon development mother fund with a total scale of 10 billion yuan, coordinate existing fund resources, and guide local governments, chain-leading enterprises, various social capital and financial institutions to invest in the establishment of energy-saving and environmental protection industry sub-funds to support key energy-saving and environmental protection enterprises and key projects in the province."

It is understood that the 10 billion yuan green and low-carbon development mother fund established this time will innovate investment and financing models, broaden investment channels, and strive to form a "one main and multiple sub-funds" ecosystem of more than 20 billion yuan in 2 to 3 years, leveraging 100 billion yuan of capital to invest in green and low-carbon industries.

A relevant official from the Hubei Provincial Department of Finance said that the Hubei Green and Low-carbon Development Fund will play a financial agglomeration effect, fully leveraging the advantages of national strategic resources, central enterprise resources, industrial resources, financial resources and other resources to support Hubei's industrial development, and promote the coordinated linkage of government-guided funds, state-owned funds and market-oriented funds at all levels across the province to attract and leverage more capital, projects, technology, talents and other core elements to gather in Hubei.

On the same day, China Carbon Depository and Clearing Corporation, Hubei Carbon Exchange Center, Wuhan Carbon Inclusive Company, Tencent and carbon inclusive practitioners from multiple cities jointly launched the "Carbon Inclusive City Cooperation Initiative" and established the Carbon Inclusive City Cooperation Alliance. The first batch of members included 32 carbon inclusive managers, carbon inclusive platform operators, low-carbon scenario companies and low-carbon incentive providers such as Alipay, Didi and China Merchants Bank.

According to reports, the Carbon Inclusive City Cooperation Alliance aims to unite builders and participants of different types of carbon inclusive models, integrate market, technology, talent and other resources, and build a carbon inclusive cooperation mechanism with strong appeal, broad influence and sustainable operation, so as to encourage more enterprises, social organizations and the public to actively participate in carbon inclusive actions and promote green and low-carbon development of the whole society.