Increased costs for owners, charterers and traders that fail to factor in costs of carbon emissions

Efforts will be made to introduce novel futures products themed on carbon emissions rights, logistics and indexes in China so that the financial sector can better serve the real economy and address the country's major development strategies, said China Securities Regulatory Commission Vice-Chairman Fang Xinghai at a forum on Tuesday.

The People's Bank of China (PBOC) recently included two foreign-funded banks in a lending program designed for carbon emission reduction. Deutsche Bank (China) Co., Ltd. and Societe Generale (China) Ltd. became the first foreign institutions to get the okay to join the supporting tool for emission cut.

the country's cumulative trading volume of carbon emission quota had reached 194 million tons, with a total trading value of 8.492 billion yuan ($1.25 billion).

Accelerated steps should be made to build up China's carbon footprint management system on batteries for new energy vehicles as well as the carbon emissions market to guide the country's low-carbon development, lawmakers and political advisers said during the two sessions that ended recently.

Banks should have a good understanding of information on corporate carbon emissions and accurately assess which companies may have to cut production or exit a market so they can adjust loan structures and prevent financial risks

China's green bond market is likely to expand in 2022 and for years to come as the country is spurring investment into its pursuit of peaking carbon emissions and reaching carbon neutrality, analysts and industry insiders say.

Some banks said they have received funds through the carbon emissions reduction facility launched by China's central bank, as the country accelerated the transition toward a greener economy.