Page 128 - Research on Financial Development Mechanism and Path of Forestry Carbon Sequestration in Developing Countries under Double Carbon Targets

Research on Financial Development Mechanism and Path of Forestry Carbon
Sequestration in Developing Countries under Double Carbon Targets

and therefore more on the “subject level”. However, the carrier of international trade is
products, so CBAM pays more attention to “product level”. It is suggested to establish
and improve the accounting method for carbon emissions of key products in accordance
with the Implementation Plan for Accelerating the Establishment of a Unified and Stan-
dardized Statistical Accounting System for Carbon Emissions (NDRC [2022] No.622)
jointly issued by the National Development and Reform Commission, the National
Bureau of Statistics and the Ministry of Ecological Environment, and to accelerate the
construction of a product carbon emissions information system.
In addition, the EU’s carbon border adjustment mechanism also specifically in-
cludes hydrogen in the collection scope, reflecting the special position of hydrogen in
the future green transformation of the EU. In the future, the EU will focus on the appli-
cation of hydrogen energy in key areas such as industry, transportation and construc-
tion, and develop corresponding zero-carbon technologies and zero-carbon pathways.
Therefore, it is suggested that China should also formulate specific support policies and
incentives for each link of the hydrogen energy value chain to accelerate the develop-
ment of the hydrogen energy industry and market cultivation, so as to ensure China’s
competitive advantage in the hydrogen energy field in the future global green competi-
tion.
As an export enterprise from China to the European Union, it may face various
demands from EU customers in terms of carbon reduction production and compliance
data provision. If China enterprises continue to use traditional fuel or high-carbon
production processes, the carbon costs that buyers and sellers will have to bear will in-
crease in the future, which will reduce the market competitiveness of CBAM products
of China enterprises to a certain extent. However, it is not a day’s work to reduce the
carbon cost of products and build a carbon management system. For companies, if they
wait until the end of the transition period before making adjustments, EU customers
may turn to other suppliers that comply with CBAM data requirements and have low-
er carbon prices for their products. Therefore, in the long run, the global competition
in the carbon price of products will intensify. In addition, we also need to pay special
attention to the fact that if the exporters cannot meet the requirements for CBAM infor-
mation disclosure, the relevant products may also be “approved and levied” by the EU,
which may cause the enterprises to bear unnecessarily high CBAM fees.
From now on, China enterprises exporting to the EU should start from two aspects
of carbon reduction and data compliance, and prepare for the adjustments brought by
CBAM as soon as possible, so as to avoid affecting their export business due to their

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