Research On The Supervision System Of Green Asset-backed Securities

Against the backdrop of increasingly serious resource and environmental problems,green industries are ushering in development opportunities,but face the problem of insufficient funding support.As a new type of debt financing tool,green ABS has many advantages in green financing,and in the context of regulatory policies to help asset-backed securities development,the development prospects of green ABS will be very broad,from its introduction to now in just 3 years In China,more than 40 orders have been successfully implemented,and its proportion in the green bond market has increased year by year.This article uses literature analysis,comparative analysis,and interdisciplinary analysis to discuss the construction of a green ABS regulatory system in the context of green assets supporting prosperity and development.In addition to the introduction and conclusion,this article includes the following five parts:The first part discusses the basic knowledge of green ABS,briefly introduces its definition characteristics,classification and operation process,and enhances the understanding of green ABS,introduces its theoretical basis namely the financial regulatory theory and the asset-backed securities regulatory theory,and summarizes the three regulatory principles: unity,integrity and openness.The third part discusses the problems existing in the supervision system of green ABS in China,mainly explaining the problems existing in the legislation,regulatory ownership,incentive regulation means and environmental information disclosure of green ABS.The fourth part is the experience of green ABS supervision outside the region.Firstly,it introduces the separate legislation mode of asset securitization represented by Japan and Korea.Secondly,analyze the centralized supervision model of the UK;The incentive policies and regulatory means of countries outside the region are introduced again.Finally,the paper analyzes the requirements of countries and organizations outside the region in terms of information disclosure in order to provide experience for the improvement of China’s green ABS regulatory system.The fifth part puts forward some feasible Suggestions aiming at the problems existing in China’s green ABS regulatory system.The first is the special legislation on asset securitization and the separate regulation on green ABS in the form of a special chapter.The second is to adopt the joint management model,establish a green bond regulatory agency,environmental protection departments to coordinate the supervision;Thirdly,the government introduced public participation mechanism to regulate market behavior while stimulating market activity.Finally,the perfection of environmental information disclosure system provides environmental information basis for supervision.