A Research On Legal System Of Green Credit

"Green credit" means a bank-financial-institution in the credit censorship that is based on the national environmental protection policies, implementing "green" standard of censorship, reflecting the "green" eco-philosophy, guiding to the credit censorship of the social funds to invest, promoting environmental protection and economy coordinate with growth of financial guidance policy. "Green credit" is generated in a serious environmental pollution of human, countries have been carrying out energy saving and developing a green economy. But "Green credit" is still in the early stage of development in China. There are many problems on bank-financial-institutions in the implementation of "green credit" process, particularly "green credit" have few laws and regulations, which is not effective protection of implement in green credit. It is urgent and necessary to take "green credit" into law because China has not yet built up a sound green credit legal system. Of great significance is conducing green credit and economy which adopting of legislation to improve the implementation of green credit review system so that banks in the credit review of financial institutions have a clear, unified legal basis on.Although China formulated some regulatory documents of the green credits, but there is still much to be desired. "Environmental Protection Law" and "Circular Economy Promotion Law" do not establish the status of green credit. "Law of the People’s Bank of China","Commercial Bank Law" and "Banking Supervision Law" also don’t define the concept of green credit. State Environmental Protection Administration of China, the People’s Bank of China and China Banking Regulatory Commission issued the "Opinion of Implementing Environmental Protection Policies and Rules and Preventing Credit Risks" marking the formulation of the green credit policy guidance, but it did not rise to the legislative level, operability, coercive power and execution ability are not strong. Therefore, the current relevant laws and regulations of green credit should be amended.to turn the green credit policy into law, forming a green credit legal system, playing an important role as a legal criterion. According to green credit censorship criterion, banks can encourage enterprises to construct the green projects. It can adjust the interest of market players to achieve the legal regulation of social function.From the 70’s of Twentieth Century, many countries of the world began to practice in the integration of the credit legislation and sustainable development. World Bank and other international organizations draw up an environmental assessment system and set the loan application should provide to complete environmental assessment. In 90’s of Twentieth Century the United States passed "Pollution Prevention Act" proposing to develop green economy and subsequently draw up a guide to commercial bank credit of resource conservation and recycling, to encourage and stimulate green credit. UK’s green credit legislation is to follow the concept of pollution prevention, polluter pays and sustainable development. "Environmental Protection Law ", "Water Law" and "Waste Management Law" were all carry out the specific implementation of green credit relevant provisions. Germany’s environmental philosophy has been from the end of treatment to the front of prevention, and has developed "circular economy and waste management law", "continue to promote ecological tax reform law","renewable energy ", and established the first green bank of the world in 1988 which mainly operating on environmental protection investment credit business. Abroad during the green credit legislation takes the the concept of sustainable development as the guiding ideology, according to the actual situation in China, respectively adopt the legislative model of "recycling economy" and "environmental protection" which will formulate the Basic Law and Special Law of green credit and clear their responsibilities of the enterprises, governments, and the publics.This dissertation preliminary constructs China’s green credit legal system learning from the results of international organizations and developed countries of the green credit legislation. Firstly, the green credit legislation should be take the concept of scientific development, sustainable development as the guiding ideology, fully embodies the principle of "ecological laws", " prevention first" and "polluter pays", according to the broad framework of "fundamental law", "Basic Law" and "Special Laws" build the legal system of green credit system. Taking the actual situation of our country, build high feasible green credit system.That include green credit planning system, information technology support system, green credit incentive system, the credit market access system, active public participation system and the legal burden-sharing system.This dissertation is divided into 5 chapters:Chapter one is introduction. It states the background of the research and its significance, as well as the present researches home and abroad based on the literature revie. Then it explains the research method, the frame, the innovation points and the limitation, so as to pave the way for the following researches.Chapter Two is the legislative concept of green credit censorship system.This chapter first discusses the meaning of green credit, green credit legislative ideas, and then study the need of green credit legislation which is provide a theoretical reference for building credit and perfecting the legal system.The dissertation suggests that commercial banks should implement the concept of green credit, integrate environmental risks into the credit management process, support environment-friendly enterprise loans first, and limit the project credit of the polluting enterprises. It is necessary for protecting the economic and social sustainable development, perfecting the existing legal system, improving international competition, and promoting economic restructuring which implement green credit policy and a guidance to legislation.Chapter Three studies foreign legislative practice of green credit censorship system. This chapter analyze foreign legislation experience and legislation features of green credit censorship system.The first part mainly study the lessons and experiences of the United Nations, the World Bank, US, UK, Germany and other countries; and the last part mainly analyze some developed countries’ guiding ideology, legislative pattern and legislative contents of the green crediting legislation.Chapter Four studies China’s green credit Legislative Practice. Firstly, this chapter analyzes and comments on green credit legislation status in our country. In fact, China has already taken the green credit censorship as the baton of project loans, business development and industry progress, but the green credit censorship legislation are rarely, mostly are administrative guidance and department notice, they have little force of energy saving and have no legal power. Secondly, the chapter studies the practice of green credit in our banks, most of the banks can implement the green credit policy well, but some banks are not well implementing green credit policy because these administrative guidance are not rising to the legal level.Chapter Five is my idea of green credit legal system construction. This chapter is giving the ideas from three aspects. Firstly, it analyzes the the ideology and basic principles of building green credit law. Secondly, it makes our credit legal system from the fundamental law, the Basic Law and special laws etc. Finally, it puts forward our own proposals of building green credit legal system including the green credit planning system, information technology support system, green credit incentive system, the credit market access system, public active system and legal responsibility sharing system.The main innovation of the dissertation:Firstly, it is the angle of innovation. The dissertation is focusing on green credit legislation censorship and this area of research relatively small but largely focused on green finance and green credit, so the angle is more innovative.Secondly, it is the content of innovation. The dissertation studies from the ideas of green credit legislation, the first part of the green credit relevant legislation in the international organizations and some foreign advanced countries, and sum up the successful and unsuccessful experiences; followed by the domestic legislation of the green credit are described, and use of empirical analysis of the several domestic commercial banks to implement green credit status. Finally, it conceive the legal system of China’s green credit from seting up a reasonable and sound legal system.Thirdly, it is the method of Innovation. Using comparative analysis and empirical research method, the dissertation depthly studies domestic and international green credit legislation in multi-angle and multi-level, and provide a useful reference to build the legal system in our country.