On The Improvement Of Green Financial Legal System

Green finance is a kind of financial operation strategy that the financial sectors set basic national policy of environmental protection as a basic policy of their own, and reflect the "sustainable development" strategy through the operation of financial business to promote the coordination of environmental resource protection and economic development, and thus to achieve the finance sustainable development. Compared with the traditional finance, green finance has significant advantages on the aspects of environmental protection and promoting green economic development, which is a financial operation pattern more consistent with the sustainable development. As the green finance in China is still in its infancy, there exists many problems in the specific implementation of green finance, in particular the implementation of green financial implementation for the lack of relevant laws and regulations, lack of monitoring system and accountability system. Therefore, the green financial legislation becomes very necessary and urgent. To pass legislation to improve the green financial legal system, green financial development strategy for the implementation is significant.Although we have introduced a number of regulatory documents on the aspects of green finance legislation, there is much to be desired, mainly reflected on low level of legislative body, lack of enforcement and implementation capability, and etc. Therefore, China should learn from the outcome of the green financial legislation of the World Bank and other international organizations, as well as some developed countries such as the United States and Britain, in order to facilitate the improvement of China's green financial legal system.Improvement of green financial legal system in China should be implemented on the basis of learning from the foreign experiences and combining our actual situation, and meanwhile, some basic principles should be obeyed, such as principle of equity, the principle of ecological order, the principles of efficiency and benefit. During the specific improvement of the green financial legal system, we should combine the establishment of Green Finance Promotion Act with the improvement of the sector legal system, the green financial supervision and regulation system, and the green financial liability system through the design of the basic structure of green financial legal system. The improvement of green financial legal system is a systematic and comprehensive project, and it is an innovation based on the existing system. Therefore, we do not only need to improve the green financial legal system, but also need to develop other relevant legal system for comprehensive support.