中国金融环境与碳市场发展的关联度及作用分析——基于G20背景

The Effect of China's Financial Macroenvironment on Carbon Market and the Correlation Degree in Group 20 Context

利用灰色系统理论及信息熵对金融环境特别是融资环境和碳市场的关联性进行分析,构建碳市场与金融环境指标体系,并对其关联度进行排序及指标甄别,结果表明:中国在建设碳市场的进程中,政策导向应依靠国内融资,国际资金只能作为辅助渠道;积极促进绿色债券、基金等股权债权的发展,比银行提供间接融资对碳市场的影响更加显著;金融机构信贷中真正用于低碳生产或投资的款项十分有限,政府只需对信贷结构稍加优化,向低碳领域转移,便可对碳市场起到明显的杠杆作用。

The correlation between financial macro environment and carbon market was analyzed through the gray system theory and the international entropy method, which helped to identify and order the key indicators of financial macro environment. This paper proposed some relevant policy suggestions：the oriented policy should rely on domestic financing with international financing as an auxiliary; the impact on the carbon market by active promotion on the development of green bonds, funds and other equity or debt tools, will be more significant than the indirect financing provided by banks;meanwhile the loans actually utilized to low-carbon production or investment supported by financial institutions is very limited,as long as a little optimization of the loan structure conducted by the government toward low-carbon areas, a significant leverage effect will be seen in carbon market.