Application Of Option Pricing Model In Bank Carbon Right Pledge Loan Business

In recent years,our economic development has entered a new normal.From the earlier pursuit of high growth rate to the quality of development,the development structure is optimized,and the protection of the ecological environment is coordinated with the economic development.Therefore,the concept of green development is born,and green development requires that we integrate the construction of ecological civilization into all aspects and processes of economic development,and strive to achieve sustainable development.Green development is also one of the breakthroughs in solving the major social contradictions between the growing needs of the people and the inadequately balanced development of the people.To achieve green development and sustainable development,we should play a good role in financial services,optimize credit institutions,continue to support key areas and environmental protection,and give full play to financial support for the construction of ecological civilization.In the new concept of development,on the one hand the environmental protection responsibility of enterprises has become an indispensable part of the development of environmental protection and enterprise are closely related,on the other hand,represented by banking financial institutions is the main force to achieve green development,sustainable development,plays a central role in the realization of the protection of the ecological environment in the.In a large commercial bank’s green credit development model to carbon rights pledge of green credit model is very special and important,it is closely related to commercial banks and pollution enterprises,in the premise of controlling the total amount of carbon emissions,can make high energy consumption,high pollution enterprises to achieve energy saving and emission reduction,the responsibility to protect the environment,on the other hand,the enterprise can to pledge financing according to its own carbon emissions,expand new financing channels,help enterprises bigger and stronger.In the pledge loan of enterprises with carbon emission quotas,how to determine the value of carbon emission quotas and give a reasonable pricing is a difficult problem facing the banks.Through the evaluation of the traditional method to analyze the value of carbon emissions,distinct disadvantages can not effectively assess the volatility of asset value,carbon emissions as an option(or not to exercise the power of power),the standard of carbon asset price volatility is larger,the higher the value of carbon emissions.In this paper,the industrial bank green credit business as an example,through the study of the Industrial Bank issued the first carbon mortgage loans,to analyze the disadvantages of the traditional evaluation methods,and to determine the enterprise carbon emissions quota value using the option pricing method,provide a reasonable amount of loans for enterprises.First,the article clarifies the background of the study,the purpose,the content,the method of thinking,and the relevant theoretical concepts of the carbon emission trading.As the theoretical basis and starting point of this study.Then we analyze the green credit mode of Xingye Bank,the development course of green credit,the development status of carbon rights pledge loan business,and the existing problems of carbon rights pledge loan business at this stage.Then is the Industrial Bank Carbon right of pledge loan business model for theoretical analysis,with the bank as the basis of stock pledge loan Yihua,using a new pricing method to evaluate the carbon emission of carbon emission value,solve the problem of unreasonable traditional pricing method.Finally,this paper draws a conclusion through the use of reasonable pricing binomial option pricing method has the Yihua group carbon emissions is the traditional evaluation methods in the case of Yihua group on carbon pricing right,the results of the bank bad assets pledge value is far lower than the bank loan amount;this paper proposes a method of using the option pricing evaluation of carbon emissions market value,accelerate the establishment of a national carbon emissions trading market,promote the formation of carbon emissions trading market prices,such as suggestions and prospects.