China Pacific Insurance is making new moves in green finance! Recently, the Shanghai branch of China Pacific Insurance, Shenergy Group's Shenergy Carbon Technology Co., Ltd., SAIC Group's Shanghai Anyue Energy-saving Technology Co., Ltd., and Shanghai Automotive Asset Management Co., Ltd. collaborated to successfully implement the first carbon asset loss insurance in Shanghai's carbon-inclusive scheme. This initiative fills the gap in risk management in this field through insurance, becoming another significant achievement in Shanghai's innovative development of green finance.

Against the background of "dual carbon," "carbon inclusiveness" serves as an innovative mechanism for energy conservation and emission reduction, which has been actively promoted and applied in Shanghai, injecting new power into the city's green transformation. Since the implementation of the "Shanghai Carbon Inclusiveness Management Measures (Trial)" on November 1, 2023, Shanghai's carbon inclusiveness work has gradually constructed a complete system, encouraging and guiding the whole society to actively practice green and low-carbon behaviors. However, carbon assets, as a special type of asset, face unconventional risks in their management process, such as damages to photovoltaic panels caused by accidents or weather conditions, which can reduce the revenue from carbon assets, leading to financial and carbon asset losses for the owners.

The strong alliance of China Pacific Insurance's Shanghai branch, Shenergy Carbon Technology Co., Ltd., Shanghai Anyue Energy-saving Technology Co., Ltd., and Shanghai Automotive Asset Management Co., Ltd. is a strategic response to the critical pain point of carbon asset risk management, meticulously designing and launching carbon asset loss insurance products. This insurance product will provide risk protection for carbon asset holders in the carbon-inclusive scheme. In the event of a specified risk event leading to carbon asset loss, the insurance company will compensate according to the contract, offering appropriate compensation to the affected carbon asset holders, effectively reducing their economic losses, thereby ensuring and promoting the continuous advancement of carbon reduction projects, preventing disruptions to the orderly operation of the carbon market, and providing a new solution in the field of carbon loss.

As a leading enterprise in the industry, China Pacific Insurance has consistently responded positively to the national strategy for developing green finance. This time, the participation of China Pacific Insurance's Shanghai branch in the innovative practice of Shanghai's carbon inclusiveness field fully demonstrates its profound strength and forward-looking layout in the green finance sector. By taking part in the implementation of the first carbon asset loss insurance in Shanghai, China Pacific Insurance not only provides strong risk protection support for Shanghai's carbon asset management market but also makes significant and innovative strides in the five major areas of ensuring financial services for the real economy, preventing financial risks, deepening financial reforms, expanding financial openness, and strengthening financial innovation. This initiative not only contributes to the sustainable development of Shanghai's carbon inclusiveness efforts but also provides valuable experience for the healthy and stable development of the national carbon finance market.

Shenergy Carbon Technology, leveraging its professional technology and rich experience in comprehensive carbon services such as carbon accounting, carbon consulting, and carbon asset management, provides crucial technical support and data basis for the design and development of this insurance product, ensuring that the insurance product precisely meets the carbon asset risk management needs. Anyue Charging Station Company and SAIC Asset Management Company provide practical scenarios and market validation for the application of the insurance product, jointly promoting the transformation of carbon asset loss insurance from concept to practice.

Experts state that as Shanghai's carbon inclusiveness mechanism continues to improve and the carbon finance market gradually matures, the successful implementation of China Pacific Insurance's first carbon-inclusive carbon asset loss insurance is expected to become a new starting point, leading more financial institutions, enterprises, and social forces to actively participate in carbon finance innovation. This will collectively build a more complete, efficient, and sustainable carbon asset operation ecosystem, contributing to the establishment of a green and low-carbon development mechanism, and offering more wisdom and strength towards achieving carbon peak and carbon neutrality goals in Shanghai and nationwide.