社会资本参与EOD项目的应对策略研究

Response Strategies for Social Capital Participating in EOD Projects

生态环境导向的开发(EOD)模式是将生态环境治理项目搭配资源、产业开发项目一体化实施,统筹推进,将生态环境治理带来的经济价值内部化,是“两山”理念在项目运作和实操层面的具体应用,是推进生态产品价值实现的重要探索,是加强环保投融资的重要渠道。EOD项目不新增政府隐性债务,通过关联产业开发收益弥补生态环境治理成本,在力求财政资金“零投入”的前提下,实现项目资金自平衡和生态环境治理的双重目标,符合生态文明建设与国民经济协同发展的要求。EOD项目投融资规模大、涉及行业多、专业性强,对社会资本方的综合实力尤其是生态环境治理能力和产业运营能力要求较高,因而社会资本参与EOD项目面临很多挑战。为了更好地吸引社会资本参与EOD项目,破解社会资本参与EOD项目可能存在的难题,本文总结了EOD项目的优势,梳理了我国EOD项目的投融资模式并对其进行比较,在此基础上分析了当前社会资本参与EOD项目面临的挑战,并基于政府和社会资本合作新机制,从社会资本方角度提出应对策略,以期为生态文明建设与国民经济协同发展提供决策依据。

The environment oriented development(EOD)mode is to integrate the ecological environment governance projects with resources and industrial development projects.It is a concrete application of the“two mountains”concept in projects operation,an important exploration to promote the realization of the value of ecological products,and it does not add any implicit government debt,and can support ecological environment governance expenditures through related industry benefits.Under the premise of striving for“zero investment”in fiscal funds,it achieves the dual goals of“self balance of funds”and“ecological environment governance”for projects,which is in line with the requirements of ecological civilization construction and coordinated development of the national economy.The EOD projects has a large scale of investment and financing,multiple industry categories,and strong professionalism.It requires a high level of comprehensive strength,especially industrial professional operation ability,from the social capital side.This paper conducts the following analyses.Firstly,the advantages of EOD model are analyzed as follows:ecological environment orientation,national policy support,and local active planning;operating characteristic industries to promote sustainable development;overall projects packaging to assist in the overall development of a city;and rich financing channels and diversified financial support.Secondly,it sorts out the current investment and financing models of EOD projects,as well as new mechanisms for cooperation between government and social capital.It analyzes the mainstream investment and financing models of future EOD projects.Once again,the challenges faced by the current participation of social capital in EOD projects are analyzed,mainly including incomplete policies and regulations,lack of normative system;large investment scale and high requirements for financial strength;insufficient industrial introduction makes it difficult to achieve financial balance;low matching degree of related industries and strong uncertainty of returns;large industry span and high level of specialization;the calculation of projects benefits and costs lacks scientific basis,and the“financeability”is low.Finally,relevant response strategies are proposed from the perspective of social capital.A sound risk identification and allocation mechanism should be established to strengthen risk control throughout the entire projects lifecycle;a sound risk identification and allocation mechanism should be established to strengthen risk control throughout the entire projects lifecycle;a communication and coordination mechanism between government,banks,and enterprises should be established for them to fully participate in projects planning and implementation;a strategic partnership network should be built to innovate the reserve of composite and professional talents.This paper provides policy references for the successful implementation of EOD projects,in⁃depth promotion of ecological civilization construction and green development,and promotion of high⁃quality economic development.