Dissertation > Economic > Fiscal, monetary > Finance, banking > China's financial,banking

The Research on Financial Support for the Development of Low Carbon Economy

Author WangWei
Tutor XuFeng
School South China University of Technology
Course Finance
Keywords Low-carbon Economy Carbon finance Financial support
CLC F832
Type Master's thesis
Year 2013
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In order to deal with global warming, the development of low-carbon economy hasbecome the trend of economic development around the world. How to achieve a low-carboneconomy model has become an urgent problem in China’s current economic development.Finance is the core of modern economy, and the development of low carbon economy isinseparable from the financial support. Finance provides funds, products, services and manyother supports for low-carbon economy. Carbon finance is the financial innovation inlow-carbon economy era. Research on financial support of low-carbon economy in China, notonly helps to improve the carbon finance market, but also helps the government to makescientific and reasonable policies.This paper first discusses the related theory of low-carbon economy and carbon finance.Find out the relationship between low-carbon economy and carbon finance. On the basis,comparative analysis on the development status of domestic and international carbon financemarket. And summarize the international experience of the development of carbon finance.Secondly, according to the theory of financial functions of the "external financial demand-financial support to supply-the financial function realization", explore the demend forfinancial support of low carbon economy and the motivation of financial support for thedevelopment of low carbon economy. And find the mechanism of financial support for thedevelopment of low carbon economy. Thirdly, this paper selects carbon emissions per capitaas low-carbon economic development indicator, M2/GDP as the financial developmentindicator. Use PVAR model to study the dynamic relationship between the carbon emissionsper capita and the M2/GDP. Finally, put forward corresponding countermeasures according tothe above research results.There are some prombles of the development of carbon finance in china, such as themarket segmentation, few products, lacking of intermediary service institutions. According tothe theory of financial functions, the development of low carbon economy needs a full rangeof financial support and the financial industry is also benefit from the development of lowcarbon economy. Finance can support low carbon economy through capital raising, capitalorientation, information disclosure and corporate governance, risk management. However, the test results of PVAR model show that current financial development does not support thedevelopment of low carbon economy. Financial development model should be changed tocarbon finance model. At last, based on the above research results, we put forward thecorresponding countermeasures and suggestions of developing low carbon economy from thethree aspects of carbon finance market, carbon finance service and carbon finance policy.

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