The Influence Factors Of Financial Support To Low Carbon Industry Research

Human who went into the industrial age has been at the cost of resource consumption and environment pollution for developing national economy. At first in the economic development process with the consumption of resources constantly in an accelerating economic growth mode, nature has the ability to load bearing industry development brings the environment pollution, and may make the digestion. However, with the quickening of the process of industrialization and in the stretch of breadth, pollution to the environment and resources consumption levels have far exceeded nature digestion and self bearing capacity. The final results will be irreconcilable conflict between the economic development of resources and lack of resources path dependence, and environmental pollution the consequences of the serious influence human normal life order, even will be the prime culprit of human perishEconomists have long begun to study the environmental pollution problems produced in the development of human industry and solutions. Pigou points out that the enterprise output will have the externalities of environmental pollution. The solution is to make enterprise production cost and marginal social enterprise production of the marginal benefit equal, but not equality of marginal private and marginal benefit by the classical economics. Coase said pigou solution is government restrictions policy which damages manufacturers’ interests. Coase analyzed environmental externality of manufacturer from the point of view of welfare economics, He thought that the interests of polluters and be polluters both parties must be considered to solve the problem of environmental pollution. Only in the definition of property right can achieve the pareto optimality. The Kyoto protocol concluded on the global climate conference in2005make property rights of each country’s emissions according to the coase theorem. On the premise of the definition of property right, each country proceeds with the carbon emissions trading. How to make full use of our country in the protocol of the CDM mechanism formulated for our country’s low carbon industry development and the improvement of the environment to provide financial support, and how to realize the domestic capital in the protection of the environment at the same time, can achieve maximum investment profit, these problems are the investors of various countries are facing.The industrial revolution will appear after every big economic crisis. In2008the global financial crisis and the increasingly fierce European debt crisis will lead to a complete industrial revolution, and low carbon economy arises at the historic moment. According to the ko sermons glass production function, we join the unit cost of carbon emissions reduction and the exercise price of two variables, which proves a large amount of capital investment is the only way for low carbon industry development in our country. We pretest supply and demand in the carbon emissions market and make research for the path of China’s capital going out in the next20years. And we find that capital of low carbon industry development can’t rely on stocks, bonds, traditional financial tools. We need to take government expenditure in new environment as the best source of financing. The government in the new environment with the new function is in a game with social capital under market conditions, in order to maximize the capital utilization and realize the maximization of social welfare.We research domestic funds for low carbon industry support the choice of the path. The article is divided into eight parts, and contents are as follows:Part1is introduction. This section contains research background, scope, significance and methods, which mainly introduce some basic conditions.Part2is Review of Related Researches. In this section we find out the formation of carbon financial and influencing factors to low carbon industry, which affect carbon investment through researching more than150articles of domestic and foreign studies, and figure out the reason which hinders carbon financial to support low carbon industry development.Part3is the only choice for low carbon industry development in our country’s actual situation-Capital Input. In this section, we refer to Ko sermons glass production function, researching the capital significance with china’s reality. For low carbon financial development and increasing value of low carbon industry, the only choice is to make full capital investment.Part4is the forecast of carbon emissions market scale after2012. In this part, we learn from the world banks for carbon emissions demand and supply forecasts between2012and2020, and analyze value and significance of China’s participation of carbon emissions rights market in the world. In this part, what we research is venture investment fund resulting from IPO. We found VC in all risk factors and what we need solve at the moment is the uncertainty of the time limit for acceptance carbon emissions. The result of our research shows the longer the time limit of second carbon emission reduction take, the stronger the strength of carbon financial supporting the low carbon industry. In this part, we take the domestic investors as the research object and research on investment path in carbon emission rights market of low carbon industry direct investment market. Through our participation of the emissions trading history data carried on the real diagnosis analysis, we finally found our country investors carbon emissions trading market is more efficient than the capital in use of low carbon industry direct investment.Part5is research of the functions of the government’s new changes under the circumstance of low carbon financial. In this section, We found these enterprises need the government to join. Completely relying on market forces will make the enterprises face collapse. And effect caused will be chain reaction of money missing of carbon financial supporting low carbon industry. Eventually the country’s low carbon industry will be more behind. We also found, in our research, the government could not fully support those enterprises not IPO. The government should create market mechanism with these enterprises and make restriction on price and support period. Otherwise it will lose the original idea of risk investment and strengthening the moral riskPart6is the fusion of mechanism designation among our finance, low carbon industry and policy. In this part take the reference of our research with government joining and provide policy design suggestions for carbon finance supporting low carbon industry, to accelerate our low carbon industry development.