A Study On The Dynamic Mechanism Of Carbon Finance Based On The Relationship Of Duty And Benefit

With the rise of low-carbon economy, carbon finance has became the key topromote low-carbon economy and seize future opportunities. As principal of thecarbon finance, domestic financial institutions are not active. Study on the dynamicmechanism of carbon finance development, to motivate and constrain financialinstitutions develop carbon finance,has great significance.Based on domestic and foreign-related research, first of all,this article analysesthe present situation lack of power and dynamic mechanism of the carbon financedevelopment. The author argue that cause the current financial lack of impetus todevelop carbon finance is due to the development of carbon finance can bring " duty "and the positive externalities can’t internalize. According to the analysis,the article toconstruct dynamic mechanism from the perspective of internalization ofexternalities.This article assumes that the process of transformation.from duty tobenefit has three stages.They are Government of opposing phase of duty, a marketmechanism operation-oriented coexistence phase of duty, and voluntary participationof duty and symbiosis of three stages.Then, this article using evolutionary gametheory approach, to game theoretical assumptions before demonstration.Demonstration shows that game would prompt the Government and financialinstitutions from governmental regulation to a process of deregulation, financialinstitutions also began to gradually understand in a Government-led to thedevelopment of carbon finance can bring benefits, turn towards market-orientedphase of coexistence of duty. In a coexistence phase of duty, financial institutions andthe public’s game will determine the development of carbon finance degree. Higherthe degree of public concern in the community, financial institutions, development ofpositive externalities of carbon finance on more into their own income, carbon financedevelopment incentive enough. Carbon clear will promote financial institutionsfinancial profit mechanism to symbiotic stages of duty.According to the three stages,author suggests reasonable mechanism should bemade to promote the development of carbon finance from antagonism to symbiosis.Including government-mandated impel antagonism to coexistence,using the marketmechanism to promote coexistence to symbiosis. Ultimately, carbon finance forsustainable development.