Huatai Securities: Dual carbon rigid assessment releases new value of electricity, certification, and carbon.

Huatai Securities research report indicates that the introduction of the "Carbon Peak Carbon Neutrality Comprehensive Evaluation and Assessment Measures" marks a new stage in which China's carbon governance officially transitions from target declaration to rigorous assessment. The assessment measures will drive a reassessment of environmental value along three main lines: 1. Undervalued green electricity operators, benefiting from profit restoration and valuation system switching under the linkage of electricity-certificates-carbon; 2. Focusing on green electricity direct connection leaders in high energy-consuming industries, targeting to avoid carbon costs erosion; 3. Comprehensive environmental protection leaders benefiting from premium on resource utilization under assessment pressure, and the increased demand for carbon monitoring data directly benefiting the detection sector.