On Legal System Of Emission Rights Mortgage

Law there is always a certain lag, the legal system of emission rights mortgage is also like that. In practice, the fact that emission rights mortgage has already exist, however, the legislation still has vacancy. Emission rights born in environmental problems solving, in the practical of it, generating something new like emissions rights trading and emission rights mortgage. Since appearing lately, lack of practical experience and the presence law lag of our Property Law, the development of the legal system of emission rights mortgage have been restricted. To release the creative energy of emission rights mortgaged, promote cooperation and win-win between business, banking and environmental protection, it’s imperative that improve the system of emission rights mortgage. This paper research the problems existed in the legal system of emission rights mortgage and the barriers of its development by the method of combining legal perspective economics perspective, and study from the source of emission rights and mortgage-related theory. It aims to contribute to build a good, feasible legal system of emission rights mortgage.The article consists by four parts.The first part is the basic theory of emission rights mortgage. This part mainly analysis the problem of the legalization of emission rights mortgage from the root of the theory. The article make a judgment to emission rights firstly, and based on this, analysis the theory of it. And focuses on the difference between the emission rights mortgage and other property collateral, then to highlight the particularity of emission rights mortgage.The second part is the status of emission rights mortgage system analysis. On the basis of collect and analysis the relevant legislation of emission rights mortgage, Zhejiang emission rights Mortgage provisional regulations, for example, to show the existing legal system of emission rights mortgage systematically, included setting emission rights mortgages, its restrictions, registration effectiveness.The third is the problem of emission rights mortgage system analysis. Under the guidance of the theory in the first part, this part analysis the existing legal system of emission rights mortgage, point out the shortcomings of the existing system, in terms of legislation, the main problem is that the property of object is unknown, and emission rights property is unknown also; and in the specific system, the main problem is that the valuation is unreasonable, and registration system has some defects, and there is a risk in Mortgages comply.The fourth part is the recommendation that how to improve the legal system of emission rights mortgage. Based on foregoing analysis of the theory and practice, this section aims to propose a more systematic and more feasible frame for the legal system. Firstly, define the property of emission rights, so that its mortgage can be legalization. Secondly, build a mortgage-related protection system, like establishment Registration Effectiveness, information disclosure system, and the price evaluation mechanism. Finally, contrary to the legal barriers existed in the implement of the mortgage right, make a suggestion that clear the requirements for government buy-back, and improve the trading mechanism of emission rights.