Environmental Capital,Negative Externality and Carbon Finance Innovation

In the context of global climate change,the internalization of negative externality,which is brought about by the traditional mode of economic growth,has become an inevitable choice.In order to achieve the internalization,it is necessary to make innovations on the market mechanism and system,find the value of environmental capital,establish a new mode of economic growth based on environmental capital,and then transform the environmental capital,an exogenous factor of economic growth,into an endogenous factor.Of this,the key of market mechanism and system innovation is the financial innovation that is based on environmental capital and negative externality;the government defines the initial property right of environmental resources and establishes environment energy trading market,so as to guide enterprises to trade environmental resources(represented by carbon emission permit trading) based on the Clean Development Mechanism,and to vigorously develop environmental finance and carbon finance.

The Status Quo and Developing Trend Analysis of Global Carbon Finance

This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from "high carbon" to 'low carbon",covering the following aspects:the structure,status quo and developing trend of global carbon market.The paper discusses the innovation in financial organization and service systems and governments' overall guidance and policy support,and draws the conclusion that the world is undergoing massive changes with governments actively responding to carbon finance to embrace the tremendous opportunities for clean energy and climate change in financial industry.To seize the opportunity,a complete and overall carbon finance system of China should be put in the top of the agenda.Given the current tasks of energy conservation and pollution reduction and the growing demand for capital input,China needs to construct an clear of policy guidance,a diversified financia service system,and a multi-approach carbon finance system to intensify and widen the participation of financial industry,to expand financing channels for sustainable economy and spread risks,and finally,work out an inexpensive solution to the realization of China's low carbon target.

The role of technological innovation,carbon finance,green energy,environmental awareness and urbanization towards carbon neutrality:Evidence from novel CUP-FM CUP-BC estimations

After COP21,various economies start putting efforts to fulfill the pledge and achieve carbon neutrality.By doing so,scholars highlight several essential factors that can curb carbon emissions.In this lieu,the current study analyzes the role of technological innovation,carbon finance,environmental awareness,urbanization,and green energy like renewable energy consumption(REC)and renewable energy output(REO)on carbon neutrality in E7 countries covering the time span of 2006-2020.By employing CUP-FM and CUP-BC,it is revealed that technological innovation,carbon finance,environmental awareness,urbanization,REC,and REO have a positive connection with carbon neutrality in E7 countries.The study provides guidelines to the policymakers in developing policies regarding to obtain carbon neutrality using technological innovation,carbon finance,environmental awareness,and green energy.

Study on carbon intensity trading market based on carbon finance mechanism

As the largest developing country in the world, China has not be involved in the obligation of emissions reduction in the （〈Kyoto Protocol）） . But it has become the largest CO2 emissions countries in the world. This makes China confronted with more pressure of carbon emissions reduction in the post-Kyoto era, and face great challenges in response to climate change issues. On one hand, China＇ s economic growth stage has decided that the situation of more energy consumption and increased carbon emissions is diffficult to reverse in the short term; On the other hand, the traditional policy under the control of total amount of carbon emission has largely restricted economic development. If a developing country in economic transition is carried out compulsory absolute amount of carbon reduction policies, its economic activity and social consumption will be imposed additional constraints inevitably, which will eventually lead to lower economic competitiveness and decline in social standards of living. Ultimately it will affect the good effects of carbon emissions reduction, so the policy can not achieve a satisfactory result. This paper introduces the financial mechanism into the carbon market model, extends the time of model from one phase to multi-phase. And this paper tries to establish a cross-time carbon credits trade system, and the current strength of the traditional carbon emission market trade model is extended. The paper designs two type of option mechanism model--call options trade carbon emissions model and put options carbon emissions model. Models＇ results show that choosing options tool to extend our traditional carbon market model can bring following impacts on carbon market development： trade costs have fallen, the carbon intensity also has descended, and has realized the flow of carbon intensity in diffident time; it enables manufacturers to effectively avoid the risk of carbon emissions trade; it increases the flexibility and maneuverability of the carbon trade market. Finally, the policy recommendations in the financial mechanisms carbon market trade are put forward.

The impact of carbon emission trading policy on firms’green innovation in China

This study aims to examine the green innovation effect of the carbon emissions pilot policy in China.First,using the difference-in-differences method and regressions of instrumental variables using the data from Chinese listed firms,we verify that the policy promotes green innovation among regulated firms and is more pronounced among state-owned enterprises,firms in the eastern region,and those with lower financing constraints.Furthermore,this positive effect spreads downstream relative to the regulated firms through input–output linkages,but reduces green innovation to upstream firms.Accordingly,such diffusion of innovation is achieved through the price mechanism.The results necessitate the introduction of various derivatives to mobilize the market to reduce the speculative volatility of carbon prices.In addition,relevant supporting policies must be established to encourage corporate innovation to reduce the crowding-out effect owing to emission reduction and the nonmarket factors.

Research on China＇s financial development mode on low- carbon econom7 background

With China＇s rapid economic development, environmental issues and social development issues become increasingly prominent, global warming, fog and haze, urban environmental pollution is becoming a major obstacle to China＇s sustainable development. In this context, the development of low-carbon economy has become the focus of urban construction and economic development. Carbon finance, as a product of low-carbon economy in the context of financial innovation, combines the low-carbon industries and economic development together, and has significant effects on low-carbon economy development and low-carbon urban construction. To build financial support system under the low-carbon economy circumstance, to develop carbon finance, is the necessary way China has to go through to develop a low-carbon economy, and also is the inevitable reouirement to achieve sustainable economic development.

What role do emission trading schemes,energy innovation,and technology transfer play in sustainable recovery?A perspective from BRICS economies

To ensure long-run sustainability,it is imperative to achieve the goal of zero-carbon emissions without compromising economic growth.Identifying whether BRICS economies,which are an attractive set of countries due to their rapid economic growth and high emissions,can shift towards sustainability with the support of policy measures,is a question which needs to be addressed.This article investigates the impact of emission trading schemes,energy innovation,technology transfer,population growth,and inflation on the economic performance of BRICS economies(2001-2020).The outcomes of the CS-ARDL and PMG estimators reveal that carbon taxes,carbon finance,energy innovation,technology transfer,population growth,and inflation have positive effects on economic performance.In light of the evidence,policy insights are recommended to achieve a win-win situation for economic and environmental performance.

International Experience, China's Development and Prospect of Carbon Market Construction

Carbon market,which is capable of scientific quantifying and marked-based pricing of carbon emission,is an important way for countries to achieve the target of carbon emission reduction.The global carbon market,after more than ten years of development,has developed a mature mechanism.China started the trial of carbon market in 2011.After ten years of exploration,the national carbon trading market was officially launched in mid-July 2021.Against the backdrop of carbon neutrality,the national carbon market will shoulder a greater mission of carbon emission reduction and speed up its financialization and internationalization.However,it should take a dialectical attitude toward the opportunities and risks of carbon market financialization.In the future,China can promote the development of carbon market through efforts to develop market participants,clarify the attributes of carbon finance,prevent potential risks of carbon finance,improve the connection mechanism with the international carbon market,and innovate carbon finance services.