报告题目：Nature-based Offsets in the CCER Market and 一带一路 Debt Sustainability
报 告 人：石天傑 哥伦比亚大学
报告时间：2025年6月17日（周二）下午3:00
报告地点：经管学院C301会议室
报告人简介：
石天傑 Satyajit Bose is Professor of Practice at Columbia University, where he teaches sustainable investing, climate finance, scenario analysis and cost benefit analysis. Satyajit has experience in investment banking, asset management, financial restructuring and automated weather risk management. He was a mergers & acquisitions banker, directed quantitative trading strategies at a convertible arbitrage hedge fund and developed machine learning algorithms to optimize weather-based decision tools. Satyajit Bose holds a B.A. and a Ph.D. in economics from Columbia University. He is co-author, with Guo Dong & Anne Simpson of The Financial Ecosystem: The Role of Finance in Achieving Sustainability (金融生态：金融如何助力可持续发展 ).
报告内容简介：
The Chinese National ETS allows compliance entities to meet up to 5% of their obligations through the use of China Certified Emission Reductions (CCERs). China is also the world’s largest bilateral lender to low and middle income countries. In the face of geopolitical uncertainties and global tariff-related conflict, a number of BRI countries face significant debt crises. Some countries facing debt crises nevertheless have the potential to generate a significant global public good through climate action. China is a key trade partner for many such countries.
The lecture examines both the need for and the potential for internationalizing the CCER market by utilizing carbon reduction offset projects in the BRI countries which are commensurate with Chinese nature-based offset projects. Currently, forestry & agriculture carbon offset project-related institutional arrangements such as carbon accounting methodology, monitoring, reporting & verification, legal status and transaction costs remain at an early stage of development. Moreover, attention is needed to facilitate efficient future cross-border trade in carbon offsets. An appropriately structured, RMB-denominated international market in carbon credits has the potential to address multiple goals simultaneously: least-cost global climate action, efficient cross-border carbon mitigation transfers, improving debt sustainability and advancing RMB internationalization. The lecture examines related concepts such as debt-for-climate swaps, Brady Bonds, Article 6 ITMOs and potentially necessary steps towards implementation.
