Nanjing Gaochun issued the country's first comprehensive vegetation carbon sink value insurance policy
The insurance scale is 39545 acres, with a total insurance amount of 476,900 yuan... Recently, Gaochun Branch of People's Insurance Company of China successfully signed a contract with Qiqiao Street, Gaochun District, Nanjing City, and the country's first comprehensive vegetation carbon sink value insurance was officially implemented in Gaochun.
"Vegetation Comprehensive Carbon Sink Value Insurance" is an innovative and characteristic agricultural carbon sink insurance product based on remote sensing carbon sink observation and measurement technology, and based on the measurement of carbon sink losses caused by damage to ecological resources such as vegetation and cultivated land. In layman's terms, during the agreed insurance period, natural disasters and accidents cause damage to ecological resources such as forest land, wetlands, cultivated land, and soil, resulting in weakening of carbon sinks, which will trigger a claim settlement mechanism.
With the comprehensive advancement of the "double carbon" goal, various "carbon insurances" have emerged, but most traditional carbon sink insurances focus on forestry or marine industries. "This time based on remote sensing observation and analysis technology, this is the first order in the country for carbon sink insurance for surface vegetation, cultivated land, and soil." The relevant person in charge of the Nanjing City Branch of the People's Insurance Company of China said.
As an insured party, Qiqiao Street has the first batch of provincial-level high-quality development demonstration parks for modern agricultural industry. The agricultural industry is relatively concentrated, including Tea Village, Zaoyuanzhu Village, Strawberry Village, etc. Cultivated land and crops play important ecological value and social value.
Natural resources are more susceptible to the impact of "unforeseen events". In the summer of 2022, Gaochun will continue to have high temperatures and drought, causing widespread decline of crops such as tea. Although most crops in Qiqiao Street are insured with traditional agricultural insurance, they cannot cover the loss of carbon sequestration. Guan Jianping, secretary of the Party Working Committee of Qiqiao Street, said: "The cultivated land area insured this time accounts for nearly half of the total policy area. With this insurance, our agricultural production and low-carbon rural work will be more secure."
The comprehensive vegetation carbon sink value insurance purchased by Qiqiao Street mainly considers the protection of carbon sink functions, and pays more attention to "prevention" and "rescue". The insurance amount of this policy is more than 30,000 yuan, covering all cultivated land, trees, etc. within the jurisdiction of Qiqiao Subdistrict. If accidental disasters occur to cultivated land, trees, etc. and cause carbon sink damage, compensation can be applied at the agreed price of 35 yuan per ton. Insurance claims will be used to rescue and restore vegetation carbon sink resources, thereby reducing carbon emissions and accelerating the restoration process of ecosystems.
"This is a carbon sink value insurance tailored for Qiqiao Street, and the policy premium is paid in digital RMB, aiming to give full play to the role of green finance in achieving the 'double carbon' goal." Huang Yaohui, manager of Gaochun Branch of People's Insurance Company of China Property and Casualty Co., Ltd., said that the emergence of comprehensive vegetation carbon sink value insurance is an innovation in the insurance industry's traditional products and service models, which will help promote the development of green finance and promote emissions reduction and environmental protection through market-oriented means.
Released the country's first county-level GEP accounting system, settled in the country's first kilometer-scale high-precision carbon source and sink assessment demonstration park, successfully traded Jiangsu's first carbon ticket, and issued the country's first comprehensive vegetation carbon sink value insurance policy... In recent years, Gaochun District has always insisted on establishing "ecological zones" as the preferred strategy for regional development, deeply implemented the development concept of "lucid waters and lush mountains are invaluable assets", actively explored the value realization mechanism of ecological products, and continued to promote the research and application of the GEP accounting system. It has successively won honors such as the National "Two Mountains" Practice and Innovation Base and China's Climate-Livable City, and its ecological brand has become increasingly prominent.
The relevant person in charge of the Gaochun District Development and Reform Commission said that next, greater efforts will be made to explore new paths for the transformation of the "two mountains", accelerate the transformation of environmental advantages into development advantages and competitive advantages, and explore paths and accumulate experience to better achieve the goal of carbon peak and carbon neutrality.
