Research On The Construction Of China’s Green Credit Legal System

In recent years, china’s economic developing rapidly,while theenvironmental pollution, resource depletion, ecological imbalance andother issues become more serious. Government and the people pay more andmore attention on environmental protection and sustainable developmentissues.Eventually,people realize that the financial institutions playsa important role in promoting economic and social sustainabledevelopment.Throughing absorb public deposits, loans and investment,thebank can allocate financial resources,,thereby affecting the businessactivities of enterprises, promoting the green business.on July30,2007, the people’s bank of China,China Banking RegulatoryComission and the Ministry of Environmental Protection of the People’sRepublic of China Jointly proposed a new credit policy-the green creditpolicy.The green credit policy aims to guide the funds and loans devoteinto the environmental friendly enterprises and projects,while withdrawfrom environmental pollution enterprises and projects.Thereby realizingthe green capital allocation.From2008to2012, the Ministry ofEnvironmental Protection of the People’s Republic of China and the ChinaBanking Regulatory Comission have issued a number of documents to improvethe green credit policies. In February24,2012, China Banking RegulatoryCommission issued a "green credit guidelines", makes a comprehensivestandard on green credit policy’s organization and management, policy andability construction, process management, internal control andinformation disclosure, supervision and other aspects.After5years implementation,it has played an important role inpromoting the sustainable development of banks and economy. But due to the lack of legal support,relevant regulations are too principle andnonoperational,the green credit policy faces a lot of difficulties in theprocess of implementation.This paper focuses on the legal issues during the implementation ofthe green credit policy.It is divided into five parts.The first partmainly introduces the basic connotation of the green credit policy, theinternational standard and the related theoretical basis,the financialsustainable development theory and corporate social responsibilitytheory.The second part mainly introduces the international experiencesabroad,they have established a relatively perfect system of environmentalprotection law and various supporting policies. Enterprises, financialinstitutions and financial supervision departments have formed aninteraction system, and because of the equator principles, major bankshave established an environmental and social risk management system,promoting the development of the green credit. The third part mainlyintroduces the present situation of green credit’s development in China,summarizes the achievements in the past few years and points out theobstacles to the further development.The fourth part analyzes thenecessity of the legislation of green credit, then gives advices to howto perfect our country ’s green credit legal safeguard mechanisms.Thelast part is the full text of the summary.