Developing low carbon economy: The advantage of trust industry participation

Kin's support for Low-carbon economic development has been vividly likened to a three-legged bench: The cultivation of policy, the support of technology and capital, and the lack of any one of these three problems, and the most important of the three elements is financial support. As the most flexible and innovation-driven trust industry in the financial system, the intervention of carbon finance will undoubtedly have a multiplier effect.　　But the choice of this area depends on whether the trust company is good at it or not, but on the other hand, it depends on the degree of acceptance and understanding of Low-carbon. Special guest: China Foreign Economic and Trade Trust Co., Ltd. General manager Yang Zili, senior research and development manager of Sino-Iron Trust Co., Ltd. Chen Jianhu Anhui Guo Yuan Trust Co., Ltd senior researcher Liu Yun's support for Low-carbon economic development has been portrayed figuratively as a three-legged bench: policy Nurturing, Technical and capital support, lack of any one of the three, will have problems, and the three most important elements of financial support. As the most flexible and innovative trust in the financial system, how to integrate industry and business development into the carbon financial system for low-carbon economic development?　　On this topic, Reporter and China Foreign economic and Trade Trust Limited company general Manager Yang Zili, Sino-Iron Trust Co., Ltd. Research and Development Department senior Research and development manager Chen Jianhu, Anhui Guo Yuan Trust Co., Ltd. senior researcher Liu Yun had a dialogue. Moderator: At present, as a new concept, "carbon finance" has been accepted and valued by many financial institutions.　　In this field of competition, how does the trust company embody its own distinguishing features from other financial institutions, carry out differentiated competition, and finally combine its own operation and development with Low-carbon economy? Liu Yun: Indeed, many financial institutions have now noticed the new area of carbon finance. At present, 62 banks, including Citigroup, Barclays and Mizuho, and some emerging market banks have announced their acceptance of the Equator Principles. Some domestic banks have accepted the equator principle, so carbon finance has been accepted and valued by many financial institutions. In such a background, blind entry and competition, for all aspects of the relatively weak strength of the trust industry is undoubtedly unfavorable.　　Therefore, in the field of carbon finance business, trust companies must also start from their own institutional advantages, to carry out the competition with other financial institutions differentiated. Trust is a property management system based on trust, property as the center and entrusted as the way. In the operation of a very flexible and deep social and economic optimization functions, with its broad investment areas, flexible trading arrangements and unique "diversified" and "all-round" financial services advantages, in the market, information, cost and so on more easily win the initiative. In the development of Low-carbon economy, trust and trusts can carry out "financial one-stop" service in investment, financing, equipment leasing, acquisition and merger, consulting services, and have strong competitiveness and development potential. The recent UK Carbon Trust Initiative has come to China, with ChinaEnergy-saving investment companies, cooperation projects less than a year on the profit of 40%, achieved remarkable economic benefits and good "social benefits."　　From a certain point of view, it should have some enlightenment to the way and method of the Chinese trust Company entering the field of carbon finance.　　Moderator: Specifically, how should trust Company's Low-carbon trust business be carried out?　　Chen Jianhu: Specifically, trust companies can conduct product design and planning from five aspects. The first is to guide social funds to participate in carbon trading. According to the World Bank, global carbon-dioxide trading demand is expected to be 700 million to 1.3 billion tonnes a year, forming an international greenhouse gas trade market with an annual turnover of about $65 billion trillion. As the only financial institution across the money market, capital market and industrial market, the Trust Company uses a series of financial instruments and trusts to raise social funds by initiating a collection or a single trust product and docking with the products of silver Trust, to provide investors with diversified investment varieties and investment channels,　　Share the profit opportunities brought by the carbon exchange. The second is to provide financing support for enterprises to develop new energy projects. As of October 2009, China has approved 2,232 CDM projects, a large proportion of which are wind power and hydroelectric projects. Throughout the CDM project cycle of 21 years, project projects within 1 years of implementation of the project purchase, the project equipment financing demand is very high, trust companies can use a variety of funds to provide financial support for the project.　　One is to use the conventional method of loan, to provide financial support for enterprises, and the second is to take the way of financial leasing to buy equipment leased to the project enterprises, in addition to the equity investment in the way directly involved in CDM projects. Thirdly, it provides financial support for solving the technical risks of new energy development. In the absence of financial support, the speed of technological progress will be difficult to meet the needs of new energy development. The technology risk is becoming the main concern of institutional investment in large scale funds, and in some CDM projects, banks often have difficulty in making large capital investments.　　This time, the system advantage and innovation vigor of the trust industry can be reflected again, through the way of establishing the new Energy industry fund in cooperation with the Government, to put forward the project, to reduce the capital cost, to reduce the pressure from the long-term high risk bank commercial credit, to meet the leading demand of the technological progress, and to guide the The Forth is to activate the stock project assets and provide follow-up fund support. Asset securitization has played an important role in the financial field as an important innovation, but the Trust company has accumulated the rich experience in the asset securitization, with the aid of the asset securitization technology, through the existing some stock CDM project packing, the establishment asset pool, in the financial market issue the asset support securities, In order to revitalize the existing project assets, improve the cash flow of enterprises, to continue to develop new energy projects to provide financial support. In addition, enterprises with good CDM project development potential and credit record can be pledged by CER (CERs), and issue trust products.Raise funds to provide follow-up funding support. The last is to provide advisory services for Low-carbon projects. Through the extensive participation of CDM project secondary market, the development of business relationship with project sponsors, foreign investors, financial institutions and government departments, by virtue of their accumulated information advantages, for the enterprise CDM projects to provide advisory services.　　Moderator: As we talked about, carbon finance in our country is still a relatively new concept, how to carbon finance and the current trust companies more familiar with the business, to enhance the Trust Company in this field of professional advantages and improve competitiveness? Yang Zili: Low carbon economy involves every corner of our life, even can connect with people's daily life habits, therefore, it is also very extensive to industry, industry coverage. Trust companies are good at the business area as a breakthrough, intervention in carbon finance will undoubtedly play a multiplier effect. But the choice of this area depends on whether the trust company is good at it or not, but on the other hand, it depends on the degree of acceptance and understanding of Low-carbon. From the current situation we understand, in the real estate industry, green technology applications and building standards have become increasingly mature, its energy-saving and emission reduction industrialization effect is obvious. The current lack of large-scale applications is mainly the need for matching financial tool support. The establishment of Green Real Estate Trust fund, can play a set of investment and professional management advantages, through the use of energy saving and emission reduction technology to promote the development of real estate low-carbon economy.　　From the current implementation of the environment, the implementation of the Green Real Estate Trust fund has the law, policy, technology, products, markets and capital conditions. From the Trust Company's point of view, as at the end of 2008, the trust industry entrusted assets management scale reached 1.22 trillion yuan, accounting for the GDP of 4.09%. The real Estate Trust scale of 102 billion yuan, accounting for the total size of the current trust assets of 8.36%, accounting for the 2008 National Real estate investment funds 2.67%. The management of real estate trust assets involves the use of creditor's rights, equity, securitization and fund-type.　　Therefore, whether it is the understanding of the real estate industry, project storage, or the use of trust in this field, most trust companies are more familiar. From the angle of the real estate industry, since the 80 's, the real estate industry has been researching and exploring the sustainable development mode of promoting green building. 2006 Ministry of Construction promulgated the "Green Building Evaluation standards" and "Building energy conservation engineering Construction acceptance code." It is clear that the project construction should meet the six requirements of "reasonable site planning, efficient utilization of resources, comprehensive and effective energy-saving measures, healthy and comfortable building environment, harmless waste emission reduction and flexible construction function". In the selection of real estate project location, planning and architectural design, selection of building materials, construction and building maintenance and management, and so on are explored, and formed a certain result.　　In this way, the real estate industry is also more receptive to the concept of low-carbon than other industries. From these two aspects, we feel that the green building as a breakthrough, and at any time according to the trust CompanyFamiliarity with the industry and understanding of the low carbon concept of these industries to expand the market, it is easier for the trust companies to quickly and smoothly into the field of carbon finance.