Financing Advantage of Green Corporate Asset-Backed Securities and its Impact Factors: Evidence in China

Zhao, Yue; Yue, Yiming; Wei, Ping

doi:10.3389/fenrg.2021.696110

Cited by 7 publications

(3 citation statements)

References 30 publications

(31 reference statements)

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“…In 2021, the issuance of green investment-related thematic funds exceeded 50, and the scale of green funds was close to 800 billion yuan. China has seen steady growth in the scale of green credit business and rapid development of the green bond market in recent years, further promoting the development of environmental pollution liability insurance and studying the establishment of a compulsory liability insurance system for environmental pollution in highrisk areas of the environment (Zhao et al, 2021), but there is still much room for development.…”

Section: Products and Market Systems Of Green Financementioning

confidence: 99%

The development of green finance under the goal of carbon neutrality: A review from China’s perspective

Xue

Zhuang

et al. 2023

Front. Earth Sci.

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Extreme environmental and climate problems have been ravaging the world, causing serious economic losses and hindering human development, so that carbon neutrality has become a global undertaking related to the survival of human civilization. To ensure climate change mitigation and carbon emission reduction, this paper finds that green finance as an important and efficient tool has become a legislative priority for many countries and have been embedded in the path to achieve carbon neutrality. On the basis of in-depth analysis of the evolution and development of global green finance, this paper reviews and summarizes the development of green finance in China through literature analysis and horizontal comparison, and explores concrete recommendations and feasible tools that can be tailored to China’s carbon neutrality goal and stage of development. It is concluded that China needs to improve the green finance operation mechanism and flexible policy framework, to formulate a more accurate timetable and roadmap, to strengthen the modernization of the governance system and governance capacity and to promote the global green finance cooperation.

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Section: Products and Market Systems Of Green Financementioning

confidence: 99%

The development of green finance under the goal of carbon neutrality: A review from China’s perspective

Xue

Zhuang

et al. 2023

Front. Earth Sci.

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“…Zuo et al [45] argued that building energyefficient, green, and low-carbon data centers is an important step for the financial industry to implement the "double carbon" objective. An [24] and Zhao et al [46] stressed that more green financial instruments must be developed, with green corporate asset-backed securities as an innovative instrument to effectively solve the problems of narrow financing channels and maturity mismatch for green projects while achieving the goals of green low-carbon development, carbon peaking, and carbon neutrality. Chandio et al [47] contended that the development of finance is integral to sustainable agricultural production, and financial institutions can employ carbon finance as a tool to intervene in financial markets.…”

Section: Investigating the Pathway To Achieve The "Double Carbon" Goalmentioning

confidence: 99%

Research on the Path for Financial Institutions to Realize the "Double Carbon" Goal

2023

pree

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As the focus of attention in the modern economy, the financial sector has the responsibility to demonstrate and set an example in helping to achieve the goal of carbon peaking and carbon neutrality. By combing through domestic and international literature in recent years, this paper introduces the current situation of green and low-carbon financial institutions at home and abroad, focusing on the path to play a government-led and marketled role on the macro level and further strengthen the top-level design of financial institutions, improve the mechanism system, enhance information disclosure, and promote product innovation and tool development on the micro level to help the whole society achieve the carbon neutrality target.

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“…In particular, state-owned and high-profitability originators are able to issue at lower spreads. Zhao, Yue & Wei (2021) study the financing cost advantages of green corporate ABS. They find that the issuance rates of China's green corporate ABS are on average lower than those of traditional corporate ABS.…”

Section: Government Policy and Market Behaviormentioning

confidence: 99%

A Review of China's Financial Markets

Wang

2022

Annu. Rev. Financ. Econ.

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The fast growth of China's economy has brought it not only to the center of the global economy but also to a transition point in its growth model, a transition from scale to efficiency, speed to sustainability, input driven to innovation led. How its financial markets can drive this new growth model and facilitate the transition are pressing challenges, for China and for the world. We provide a comprehensive review of China's financial markets, including government bonds, corporate/credit bonds, stocks, asset-backed securities, financial derivatives, investment management, and currency, focusing on their growth paths, distinct characteristics, and unique opportunities. Despite fast expansion at times, their development is often lagging behind market needs, uneven over time, and unbalanced across markets. This developmental pattern is driven mostly by the government's immediate policy objectives rather than by the markets' ultimate efficiency in serving their key functions, including liquidity provision, price discovery, and risk allocation. Expected final online publication date for the Annual Review of Financial Economics, Volume 13 is November 2022. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

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Financing Advantage of Green Corporate Asset-Backed Securities and its Impact Factors: Evidence in China

Cited by 7 publications

References 30 publications

The development of green finance under the goal of carbon neutrality: A review from China’s perspective

The development of green finance under the goal of carbon neutrality: A review from China’s perspective

Research on the Path for Financial Institutions to Realize the "Double Carbon" Goal

A Review of China's Financial Markets

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