碳排放权担保融资:制度实践与理论进路  

Secured Financing of Carbon Emission Rights:Institutional Practice and Theoretical Approaches

作　　者：王文熹 Wang Wenxi(Taiyuan Normal University,Jinzhong 030619,Shanxi,China;Zhongnan University of Economics and Law,Wuhan 430073,Hubei,China)

机构地区：[1]太原师范学院,山西晋中030619 [2]中南财经政法大学,湖北武汉430073

出　　处：《金融发展研究》2025年第2期77-87,共11页Journal Of Financial Development Research

基　　金：司法部国家法治建设与法学理论研究专项课题“实现碳达峰、碳中和目标的法治保障研究”(21SFB4073)。

摘　　要：碳排放权担保融资是金融系统以市场化方式推进碳达峰碳中和的重要创新之一。碳排放权具备财产权属性、可转让性和公示能力,具备担保融资的正当性。通过对各地碳排放权担保融资实现形式进行实证考察,发现目前主要存在质押、抵押、概括三种模式。对此,应立足于“积极稳妥推进碳达峰碳中和”这一目标明确碳排放权担保融资的实现模式并澄清相应规则。碳排放权宜采取抵押融资路径,在具体制度设计上应合理界定包括贷款人和借款人在内的行权主体范畴,采取登记生效主义,将中国人民银行征信中心作为抵押登记机关,并建立动产融资统一登记公示系统和全国碳排放权注册登记系统之间的信息同步机制,统合公示效力。Guaranteed financing of carbon emission rights is one of the important innovations of the financial system to promote carbon peaking and carbon neutrality in a market-oriented manner.Carbon emission rights have the attributes of property rights,transferability and publicity capacity,and have the legitimacy of secured financing.Through an empirical examination of the forms of realization of secured financing for carbon emission rights in various places,it is found that there are three main modes:pledge,mortgage and generalization.In this regard,the mode of realization of secured financing of carbon emission rights should be clarified and the corresponding rules should be clarified on the basis of the objective of"actively and steadily advancing carbon peaking and carbon neutrality".Carbon emission rights should adopt the mortgage financing path,and the specific system design should reasonably define the scope of the main parties exercising the rights,including the lender and the borrower,adopt the registration effect doctrine,take the People's Bank of China's Credit Reference Center as the mortgage registration authority,and establish the information synchronization mechanism between the Unified Registration and Publication System for Movable Asset Financing and the National Carbon Emission Rights Registry System,so as to unify the effect of the public notice.

关 键 词：碳排放权 碳排放配额 抵押融资 绿色金融 

分 类 号：F830[经济管理—金融学]