China's "Eleventh Five-Year Plan" clearly states that by 2010, energy consumption per unit of GDP will be reduced by 20% compared with 2005, and the total discharge of major pollutants will be reduced by 10%. In the process of striving to achieve this goal, by vigorously promoting energy-saving and emission-reducing technologies and striving to improve the efficiency of resource use, a large number of projects will surely be developed as CDM projects.
But not all enterprises are as lucky as the Handan Steel and Fujian Zhangpu Liu'ao Wind Power CDM projects. For enterprises that cannot find buyers, they hope to provide help in the following areas. "From the content of these 'hope help's proposed by the enterprise, we also see the positive factors that China still lacks in the development of CDM projects." Cheng Guang said.
First of all, the understanding of CDM is not yet in place and lacks the necessary financial support. CDM came into China with the rise of the international carbon trading market. The time of its spread in China is limited. Many domestic companies have not yet recognized the huge business opportunities contained in it. At the same time, due to the value of CDM, operation mode, project development, The trading rules are not yet familiar. Currently, except for a few commercial banks, such as Industrial Bank, which are concerned about CDM, few other financial institutions are involved.
Secondly, CDM projects have a long development time and many risk factors. Compared with general investment projects, CDM projects need to go through a more complicated approval process, which results in a longer CDM project development cycle and brings additional transaction costs. In addition, the development of CDM projects involves many risk factors. Policy risks come from changes in international emission reduction policies, such as whether China will undertake greenhouse gas emission reduction obligations after 2012, which determines the validity of contracts after 2012; project risks are mainly construction risks, such as whether the project is completed and put into operation on schedule, and resources Whether it can be generated as expected. During the operation phase of the project, there are also risks of monitoring or verification, so there is uncertainty in the income of the project, which will also affect the financial service support of financial institutions.
Again, the intermediary market is not fully developed. According to the statistics of the United Nations Development Program, China currently provides about one-third of the global carbon dioxide emission reductions. It is expected that by 2012, China will account for 41% of the total emissions indicators issued by the United Nations.
Cheng Guang said: "This means that in the next few years, China will need a considerable number of intermediary institutions like Beijing China Carbon Technology Co., Ltd. However, at present, the number of such institutions is too small, and most of them are in At the initial stage, it is difficult to develop or digest a large number of CDM projects. In foreign countries, the evaluation of CDM projects and the purchase of emission rights are mostly completed by intermediaries. "
In addition, there is also a lack of a professional technical consulting system to help financial institutions analyze, evaluate, and avoid project risks and transaction risks. Zhang Jianli, who has participated in the third-party certification work of many enterprises in China, said that the carbon emission reduction amount under the CDM mechanism is a virtual commodity. Its transaction rules are very strict, the development process is relatively complicated, and the sales contract involves overseas customers. The contract period is very long. It is difficult for non-professional institutions to have the development and execution capabilities of such projects.
