Analysis On The Green Governance Effect Of Environmental Pollution Liability Insurance

This year is the key year for China to build well off society and fight a good battle against pollution.It is of practical significance to fight the key problem of pollution prevention and control based on the national conditions of China.After the policy of reform and opening-up was set up,China’s GDP ranking the top all over the world,which also leads to the increasingly serious ecological environment crisis.In 2019,263 environmental emergencies occurred in China.It is well known that the "3.21" explosion in Xiangshui,Jiangsu Province,has caused hundreds of casualties and trillions of economic losses.When the ecological environment problem becomes a difficult problem which crisis people’s livelihood and social development,environmental pollution will also become the factor restricting the sustainable development of economy.The construction of ecological civilization has gradually become the focus of the government work.Green finance,as a new financial business form to maintain the coordinated development of economy,has been paid more and more attention.In recent years,finance has continued to help to promote the prevention and control of environmental pollution,and green credit has maintained stable growth.By the end of 2020,the balance of green loans in domestic and foreign currency of major financial institutions in China is 11.95 trillion yuan.Dalian environmental protection department and insurance company jointly developed the first environmental pollution liability insurance product,and then the pilot area gradually expanded to other cities in Northeast China.At present,the environmental pollution liability insurance business has been promoted in order in all parts of the country.This paper analyzes the experience that China can learn from combining the insurance model adopted by representative countries in the world.In the empirical part,this paper studies the effect of environmental pollution liability insurance on the Green Governance of enterprises and other factors affecting the effectiveness of Green Governance of enterprises.Combined with the empirical results and the domestic situation,the paper gives countermeasures and suggestions for different subjects.The following are the main contents of each chapter:The first chapter mainly discusses the research background and significance,combs the literature related to environmental pollution liability insurance,green governance and enterprise environmental performance.As a financial means to help enterprises disperse the risk of environmental pollution accidents,environmental pollution liability insurance is important practical significance.With the support of national policies,the insurance industry has continuously deepened the research and resource investment in ecological protection,integrated the concept of green development into insurance innovation,and promoted the production enterprises to strengthen environmental risk management.The second chapter mainly introduces the development of environmental pollution liability insurance in China.At present,the construction of environmental pollution liability insurance is in the compulsory construction period.At this stage,the number of pollution industries included in compulsory insurance is still very small.The current product rate of environmental pollution liability insurance is higher but the compensation rate is lower,and the function of risk dispersion needs to be further enhanced.The third chapter is the international experience of environmental pollution liability insurance to enhance performance of green governance.Germany and the United States are representatives of compulsory pollution liability insurance,France and Japan are representatives of voluntary environmental pollution liability insurance.In Germany and the United States,the state has imposed severe punishment on the illegal and tortious acts of polluting enterprises,and established scientific liability tracing mechanism and litigation mechanism,and enforced environmental pollution liability insurance by law.In France and Japan,the same attention is paid to the responsibility of the pollution subject,but the French characteristics are the establishment of professional environmental pollution reinsurance alliance to share risks to the insurance institutions,Japan is to encourage enterprises to take insurance with the aid of financial preferential insurance rate with flexible insurance scope and insurance method.The fourth chapter mainly discusses the theoretical basis of environmental pollution liability insurance and green governance,including sustainable development theory,externality theory and information asymmetry theory.Sustainable development is an important theoretical basis of modern ecological environment governance,and can provide guidance for the government and enterprises to green governance.The theory of externality and environment are closely combined with the public goods.Green governance also needs to use externality theory to explain.The above theories are applicable to the field of environmental pollution and protection,and the theory of information asymmetry has more expression in the insurance field.The policyholder has more information than the insurance company,so before and after the insurance,a series of problems will arise,including adverse selection and moral hazard,due to the information being wrong between the two parties.The fifth chapter is mainly based on the environmental pollution liability insurance of the green governance effect demonstration.This paper selects companies as research samples,obtains relevant enterprise data from different kind of databases,and studies the relationship between environmental pollution liability insurance and enterprise green governance index by Using Stata and R software and generalized linear model.The results show that the environmental pollution liability insurance can significantly improve the Green Governance Performance of enterprises,and the past pollution and environmental punishment events of enterprises also affect the insurance behavior of enterprises.Last but not least,the paper proposes feasible measures for the regulatory agencies,insurance companies and production enterprises respectively according to the current situation of environmental pollution construction based on the above research content.As far as regulators are concerned,it is necessary to improve the existing legislation to provide legal support for the implementation of environmental pollution liability insurance,gradually expand the application field of compulsory pollution liability insurance and strengthen the investigation and punishment of the main liability of pollution.Insurance institutions should explore the cost reduction on the basis the existing high rates and use reinsurance institutions to share risks and expand the underwriting capacity.Pollution enterprises need to improve the awareness of risk management to meet the trend of modern green governance construction,reasonably choose environmental pollution liability insurance according to their own industry to disperse risks and improve the ability of enterprises to deal with risks.The proper innovation may be reflected in the following three aspects: first,this paper studies the effect of enterprises purchasing environmental pollution liability insurance from the perspective of green governance.At present,the academic research on environmental pollution liability insurance focuses on the system construction,development process and enterprise benefit perspective,but the green governance effect of environmental pollution liability insurance is rare There are concerns.In this paper,whether to buy environmental pollution liability insurance index is added,the environmental performance of enterprises is taken as the green governance index to measure the effect of green governance,and the role of environmental pollution liability insurance is studied from the perspective of green development.Secondly,in the research conclusion,after considering the environmental penalty and the enterprise pollution discharge factors,the results show that these factors have an impact on the level of green governance.Third,in terms of suggestions,according to the result that the enterprises with pollution discharge and environmental punishment have stronger willingness to take insurance,the regulatory authorities should strengthen the punishment of environmental pollution violations to improve the insurance pressure of polluting enterprises;for insurance companies,gradually expand the scope of environmental pollution liability insurance products from direct pollution to gradual pollution,so as to gradually expand the scope of environmental pollution liability insurance products Floating rate dynamically reflects the risk situation of polluting enterprises,and the production enterprises can also disperse the environmental risks through the environmental pollution liability insurance.