Implementing the “double carbon” goal and developing carbon emission risk insurance

Carbon emissions peak and carbon neutrality goal, or the “double carbon” objectives, are a major measure for China to cope with global climate changes．Relationship between global carbon emissions and climate disasters, as well as relationship between global and Chinese carbon emissions and GDP, and China's macro carbon emission risk pattern, have been clearly demonstrated．Specific strategies to support implementation of national “double carbon” goal from the perspective of finance and banking are analyzed．Significant positive correlation is found between global carbon emissions and climate disasters, and carbon emissions are the “root” of climate disasters．Significant positive correlation is found between global carbon emissions and GDP．Global per capita GDP and losses from generalized and narrow climate disasters are like the environmental “Kuznets curve (inverted U shape)”, i.e., the close correlation between global carbon emissions and GDP per capita affects generalized and narrow climate disasters．China’s macro carbon emission risk shows a significant regional differentiation of high in the East and low in the West．We propose that to narrow industrial and regional differences in carbon emission risk, a carbon emission risk insurance system be established to promote complementary development of thermal power and green power and coordinated development of industries and regions．It is necessary to build a carbon emission risk insurance model integrating policyholder-insurer-government．The above measures will provide insurance protection for China to implement the "dual carbon" goal．