Study Of Supply Chain Financing Based On Quota Carbon Asset Pledge

Low carbon economy brings pressure to traditional enterprise with the limitationof the emissions. Under the carbon trading background, carbon emission permitbecomes a kind of new resource, which can be traded. At the same time, carbonemission permit has financing application value as a kind of financial asset. Small andmedium-sized enterprises (SMES) have been facing the financing difficulty is themost active part of the in the social economy. It is imperative to look for newfinancing way which is suitable for low carbon economy. As a new financing way,supply chain financing needs lower credit level that can help more SMES to overcomefinancing disadvantage.First of all, this article gave the definition of the supply chain carbon assets, andanalyzed its pledge. Then, it analyzed the existing supply chain financing model andthe evolution path from the perspectives of supply chain resources, structure, andpractice. This paper put forward the carbon asset pledge financing pattern under theframework of carbon trading, which complies with the direction of the evolution.Secondly, the article established the optional credit quota carbon asset pledgedmodel based on two-level supply chain including a bank and a company. Then, itstudied the bank and enterprise decision-making using the ideas of game andresearched the conditions of the financing model. This article found that thecorporate’s optimal production and emissions increase after financing. At the sametime, there is a feasible range of cost and financial capacity when the bank makingdecision with the optimal condition, and the enterprise’s profit will increase in thisrange. It proved that the new financing model is viable and effective. Based on theresult of financial ability research, we can found that the model can be more helpful toSMES than other great enterprises.Finally, this paper analyzed the risk factors of carbon quota asset pledgedfinancing by case study. It chose steel industry data to analysis, and found the two keyfactors, credit risk and the market risk. At last, the article gave the reasonable riskmanagement measures.