The Study on the Status and the Countermeasures of Low-carbon Financial System of China
Yuechun Wen, Yingzi Wu
DOI: 10.4236/lce.2010.12009   PDF    HTML     5,657 Downloads   11,427 Views   Citations


Low-carbon economy has become the inevitable choice for the future development of human society, and can not de-velop without the strong support from financing system. Based on foreign low-carbon finance development experience, through studying on the status and the existing problem of the development of the domestic low-carbon finance, it is found that it is very important to improve and perfect a low-carbon financial system for China, including the low-carbon financial institutions and products system, the low-carbon financial market system, the low-carbon finan-cial environment system and the supporting policies and measures system.

Share and Cite:

Y. Wen and Y. Wu, "The Study on the Status and the Countermeasures of Low-carbon Financial System of China," Low Carbon Economy, Vol. 1 No. 2, 2010, pp. 71-79. doi: 10.4236/lce.2010.12009.

Conflicts of Interest

The authors declare no conflicts of interest.


[1] V. Bencivenga and B. Smith, “Financial Intermediation and Endogenous Growth,” Journal of Review of Eco-nomics Studies, Vol. 58, No. 2, 1991, pp. 195-209.
[2] R. G. King and R. Levine, “Finance and Growth: Schum- peter Might Be Right,” the Quarterly Journal of Economics, Vol. 108, No. 3, 1993, pp. 717-737.
[3] P. Krugman and J. A. Venables, “Globalization and the Inequality of Nations,” The Quarterly Journal of Eco-nomics, Vol. 110, No. 4, 1995, pp. 857-880.
[4] R. C. Merton, “A Functional Perspective of Financial Intermediation,” Finan-cial Management, Vol. 24, No. 2, 1995, pp. 23-41.
[5] R. Levine, “Financial Development and Eeonomic Growth: Views and Agenda,” Journal of Economic Literature, Vol. 35, No. 2, 1997, pp. 688-726.
[6] L. Robert, “On the Mechanics of Economic Development,” Journal of Monetary Economies, Vol. 22, No. 1, 1988, pp. 3-42.
[7] P. M. Romer, “Increasing Re-turns and Long-run Growth,” Journal of Political Economy, Vol. 94, No. 5, 1986, pp. 1002-37.
[8] P. M. Romer, “Endogenous Technological Change,” Jou- rnal of Political Economy, Vol. 98, No. 5, 1990, pp. 71-102.
[9] Y. J. Tang and D. F. Li, “Environmental Capital, Negative Externality and Carbon Finance Innovation,” China Industrial Economics, No. 6, 2010, pp. 5-14.
[10] Y. Deng, “The Low Carbon Economy and the Building of Environmental Finance in China,” On Economic Problems, No. 9, 2010, pp. 38-41.
[11] L. Q. Chen, “Research on Financial Support to Develop Low-Carbon Economy,” Journal of Financial Development Research, No. 7, 2010, pp.12-18.
[12] J. T. Ganzi and J. Tanner, “Global Survey on Environmental Policies and Practices of the Financial Services Industry: The Private Sector,” National Wildlife Federation, Washington, DC: Environment and Finance Enterprise, 1997,
[13] L. Montes, “Financing Sustainable Development in Mexico through Alternative Banks or ‘Green Banks,’” The Journal of Structured Finance Spring, Vol. 4, No. 1, 1998, pp. 67-71.
[14] A. B. Coulson, “Vivienne Monks. Corporate environmental performance considerations within bank lending decisions,” Corporate Social Responsibility and Environmental Management, Vol. 6, No. 1, 1999, pp. 1-10.
[15] M. Jeucken, “Sustainable Finance and Banking: The Financial Sector and the Future of the Planet,” Earthscan Pub-lications Ltd, 2001, pp. 118-146.
[16] S. Labatt and R. R. White, “Environmental Finance: A Guide to Environmental Risk Assessment and Financial Products,” John Wiley & Sons, Inc, New York, 2002, pp. 15-34.
[17] K. Dahlstrom, J. Skea and W. Stahel, “Innovation, Insurability and Sustainable Development: Sharing Risk Management between Insurers and the State,” The Geneva Papers, Vol. 28, No. 3, 2003, pp. 394-412.
[18] CEO Briefing, “Renewable Energy, Geneva: Climate Change Working Group,” United Nations Environment Programme Finance Initiative, New York, 2004, p. 8.
[19] Financial Risk Management Instruments for Renewable Energy Projects, Paris: UNEP Sustainable Energy Finance Initiative (SEFI), 2004, p. 43.
[20] A. Dlugolecki, “Climate Change and the Insurance Sector,” The Geneva Papers, Vol. 33, 2008, pp. 71-90.
[21] H. Wei and Y. H. Li, “Create a learning commercial banks to enhance market competitiveness,” Commercial Research, Vol. 15, 2004, pp. 42-46.
[22] D. He and X. L. Zhang, “The Study on Implement Green Credit of Commercial Banks in China,” Shanghai Finance, Vol. 12, 2007, pp. 4-9.
[23] L. H. DING, “A Study on Finance Supporting the Development of Circular Economy,” Science Technology and Industry, Vol. 8, 2007, pp. 87-89.
[24] Y. Chen, “Carbon Finance:Opportunities and Chal-lenges for China s Commercial Banks,” Finance & Economics, Vol. 11, 2009, pp. 8-15.
[25] S. Borenstein, “On the Efficiency of Competitive Markets for Operating Licenses,” Quarterly Journal of Economics, Vol. 103, No. 2, 1998, pp. 357-385.
[26] P, Cramton and S. Kerr, “Tradable Carbon Permit Auctions-How and Why to Auction not Grandfather,” Energy Policy, Vol. 30, No. 4, 2002, pp. 333-345.
[27] E. S. Sartzetakis, “On the Efficiency of Competitive Markets for Emission Permits,” Environmental and Resource Economics, Vol. 27, No. 10, 2004, pp. 1-19.
[28] S. D. Li and S. P. Yin, “The Study on the Initial Allocation and the Pricing of Emissions Trading,” Science of Science and Management of S. & T., Vol. 23, No. 1, 2002, pp. 69-71.
[29] D. H. Chen, S. D. Li and F. Jiang, “Oligopoly and Initiate Allocation of Emission Right,” Systems Engineering, Vol. 22, No. 10, 2004, pp. 51-53.
[30] R. N. Stavins, “Transactions Costs and Tradable Permits,” Journal of Environmental Economics and Management, Vol. 29, No. 2, 1995, pp. 133-148.
[31] L. Gandgadharan, “Transaction Costs in Pollution Markets: an Empirical Study,” Land Economics, Vol. 76, No. 4, 2000, pp. 601-614.
[32] W. F. Ren, “The Low Carbon Economy and the Environmental Financial Innovation,” Shanghai Economic Review, No. 3, 2008, pp. 38-42.
[33] L. Z. Wang and Y. Z. Song, “On the Present Situation of Carbon Trade in China and its Financial Innovation,” Modern Finance and Economics-Journal of Tianjin University of Finance and Economics, Vol. 29, No. 6, 2009, pp. 30-34.
[34] Z. W. Wang and Z. T. Yuan, “The Product Innovation in Carbon Finance Market,” China Finance, 2009, No. 24, pp. 51-52.
[35] M. Q. Zhang and G.F. Lu, “The Study on Mechanism of the Carbon Trading Market,” Environmental Protection, Vol. 412, No. 1B, 2009, pp. 78-81.
[36] N. Liu, “A Study on the Prospects of China's carbon trading market,” Inner Mongolia Science Technology & Economy, Vol. 8, No. 4, 2009, pp. 12-14.
[37] State and Trends of the Carbon Market, World Bank, 2010, p. 12.
[38] Annual Sustainability Report, Industrial Bank, 2009, p. 42.
[39] G. Y. Zhuang, “The Analysis on Ways and Potential of Low Carbon Economic Development in China,” Studies in International Technology and Economy, Vol. 8, No. 3, 2005, pp. 8-12.
[40] B. Q. Lin, “What Issues Need to be Resolved in the Development of Low Carbon Economy,” China Small & Medium Enterprises, No. 9, 2009, pp. 25-26.
[41] L. Ren, “The Foreign Policy of Developing Low Carbon Economy,” Development Research, No. 2, 2009, pp. 23- 27.
[42] Y. T. Fan and M. Z. Li, “Low-carbon Economic and Chinese Transformation on the Development Mode,” Shanghai Journal of Economics, No. 2, 2010, pp. 30-35.

Copyright © 2023 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.