An overview of the environmental finance policies in China： retrofitting an integrated mechanism for environmental management

作     者：Wei LI Mengze HU 

作者机构：State Key Laboratory of Water Environment Simulation School of Environment Beijing Normal University Beijing 100875 China 

出 版 物：《Frontiers of Environmental Science & Engineering》 (环境科学与工程前沿（英文）)

年 卷 期：2014年第8卷第3期

页      面：316-328页

核心收录：

学科分类：12[管理学] 02[经济学] 0202[经济学-应用经济学] 0830[工学-环境科学与工程（可授工学、理学、农学学位）] 083001[工学-环境科学] 1201[管理学-管理科学与工程(可授管理学、工学学位)] 020204[经济学-金融学（含∶保险学）] 08[工学] 

基　　金：Scottish Environment Protection Agency Ministry of Environmental Protection 

主　　题：environmental finance policy integrated mechanism phased evolution implementation progress,financial institution environmental management 

摘      要：Considering the significant roles of the policies in developing environmental finance, an overview is conducted on the environmental finance policies （EFPs） in China. This paper analyzed the definition, scope, evolution and main instruments of EFPs. The implementation progress of financial activities on each instrument are investigated respectively. Then the experiences learned from and failures discovered in the development of the EFPs are discussed well recommendations for further improvement of the EFPs and their implementation are provided. Our study found that the EFPs have been established in China after a four-phase evolution since the early 1980s. The policies have played a critical role in leading to a rapid development in environmental finance by involving more financial instruments to accomplish the objective-led environmental plans. Driven by the policies, the new green credit （GC）, green security （GS）, and green insurance （GI） instruments have been phased in as supplements to the conventional command and control approaches to improve the environmental governance of financial activities and pollution sources. However, the market mechanism of financial institution is limited due to their defensive and incapable performance on implementation some of EFP instruments. To further strengthen the effectiveness of EFPs in facilitating environmental man- agement, recommendations are made mainly on the aspects including developing more specific policy guidelines, enhancing information sharing and disclosure, providing sufficient economic incentives, establishing environmental liabilities with financial activities, and involving issues related to climate change, and biodiversity and ecosystem service.