摘要
排污权交易已经有将近20年的历史,排污权金融产品的交易才刚刚起步,但是交易规模和参与者数量已经有长足发展。目前美国从事该项业务的有芝加哥气候期货交易所和纽约商品交易所,以SO2的期货和期货期权,以及NOx的期货和期权合约为主,标的物即EPA总量交易体系下的SO2和NOx排污权。排污权金融产品是金融学与环境学的结合,在环境领域实现金融产品的创新具有可行性,在美国的应用也呈现巨大的成长潜力,对中国开展环境金融业务具有一定的借鉴作用。
Allowance trading has a history of almost 20 years. But allowance financial instrument trading has just started, with a great progress in trading volume and number of participants. Right now Chicago Climate Exchange and New York Mercantile Exchange have both launched this business, including futures and future options of SO2 and NOx, underlying SO2 and NOx allowance in EPA cap-and-trade system. The allowance financial instrument is a combination of finance and environmental science, indicating the feasibility of innovation of financial products in environment protection. Its application in US practice has great growing potential, which makes China understand environmental finance better in future.
出处
《上海金融》
CSSCI
北大核心
2009年第10期64-67,共4页
Shanghai Finance
