| Green credit legal regulation is the only way to make full use of the "green lever" of financial instruments,to realize the "green allocation" of financial capital and promote the rule of law in the financial market and the ecological environment under the call of " governing the country in accordance with law".Since 1995,with the introduction of a series of regulatory documents,the domestic legal regulatory system of green credit has gradually taken shape.On August 31,2016,the People’s Bank of China issued the "Guiding Opinions on Constructing a Green Financial System",which clearly stated: establish an incentive mechanism supporting green credit and a constraint mechanism to suppress "Two Highs and One Surplus",study and clarify the lender’s legal responsibility of environmental protection on the basis of the national conditions and put forward relevant legislative suggestions in due course.It can be seen from this that China’s green credit policy has matured after more than 20 years of development and urgently needs to be further "responsive to the rule of law."In the context of the aforementioned research,this article always takes green credit legal regulation as the main line of research,and the "discovering problem→analyzing problem→solving problem" as the basic idea of research.By adopting the research methods such as normative analysis,literature analysis,empirical analysis,comparative analysis and so on.research and discussion on green credit legal regulation will be carried out from the four aspects such as the basic theory,practice status,foreign experience and optimization path of green credit legal regulation.The first part is about the basic theory of green credit legal regulation.A clear understanding of green credit legal regulation is the basis for research and discussion.Specifically,the first part analyzes the basic connotation,theoretical basis and value orientation of green credit legal regulation.From the perspective of connotation definition,green credit legal regulation is a legal regulation mechanism for improving the performance of green credit policy implementation.From the perspective of theoretical basis,green credit legal regulation.is based on the external effect theory and the information bias theory,emphasizing the suppression of external environmental costs of credit activities through legal regulations,increasing the external environmental returns of credit activities,and overcoming environmental information imbalance between the two parties of the credit transaction.From the perspective of intrinsic value,the system design of.green credit legal regulation fully demonstrates the harmonious and unified legal value of modern financial rule of law,including efficiency value,order value and fair value.The second part is about the current practice status of green credit legal regulation.The second part examines the current practice status of green credit legal regulation from two aspects: the source and evolution of green credit legal regulation and the fundamental content,and on this basis,analyzes and examines the difficulties faced by the current green credit legal regulation.From the perspective of the origin,the green credit legal regulation is the result of the transformation of financial regulatory thinking under the concept of "environmental finance",the result of adjusting the environmental and social risks in credit activities through legal regulations and also the result of the gradual strengthening of the will of the countries of environmental protection in the financial field.From the perspective of the evolution,the evolution of green credit legal regulation is manifested that financial concepts such as "environmental finance" and "sustainable finance" enter regulatory documents in form and in substance.From the perspective of basic content,green credit legal regulation includes restraint mechanism,incentive mechanism,and information mechanism.From the perspective of actual difficulties,the actual difficulties faced by the current green credit legal regulation mainly include the existing industrial structure,the lack of green boundaries,and the conflict between the government-led model and the green credit legal regulation.The third part is about the extraterritorial experience of green credit legal regulation.The third part examines the international financial standards of green credit,the cleanup responsibility system of foreign lenders and the practice of incentives in some countries,and on this basis,analyzes and sorts out the examples of systems that can be used for reference in the extraterritorial practice and the lessons to be learned.In terms of international financial standards for green credit,it mainly introduces international financial standards such as the United Nations Environmental Finance Initiative and the Equator Principles and so on.In terms of the cleanup responsibility system of foreign lenders,it mainly introduces the cleanup responsibility system of the lenders in the United States and Canada.In terms of the practice of incentives in some countries,it mainly introduces the German Bank for Reconstruction and Credit,the British Green Investment Bank,Japan’s environmental discount loans,and South Korea’s low-carbon green growth strategy.The fourth part is about the optimization path of green credit legal regulation.The fourth part is aimed at the actual difficulties in the process of implementation of China’s green credit legal regulation,combining with the regulatory practices of green credit legal regulation inside and outside the domain,Respectively from four aspects such as the overall idea,restraint mechanism,incentive mechanism and information mechanism,it proposes the direction reference and system suggestions of optimizing China’s green credit legal regulation.First,in terms of overall thinking,it is recommended to stick to a decentralized legislative model,but special legislation should still be the ultimate goal,At the same time,it is recommended to stick to the "promotional legislation" model,but the legally enforceable effect of restraint measures should not be ignored.Secondly,with regard to the restraint mechanism,it is recommended to adhere to the basic development direction of the current restraint mechanism and clarify the environmental prudential obligations of the banking financial institutions,including the scope of their obligations and legal consequences.Thirdly,in terms of incentive mechanism,it is recommended to improve the green credit access mechanism and green credit exit mechanism on the basis of clear green credit boundaries.Finally,in terms of information mechanism,it is recommended to urge banking financial institutions to improve environmental information management through incentive regulatory measures,encourage the cooperation on environmental information disclosure by diverse social entities and improve the information production capacity in environmental financial markets. |
