| Since the 20th century, the ecological and environmental problems caused by the pollution and overuse of resources have significantly threatened the existence and development of the human beings with the rapid development of the global economy. The 10 globalenvironmental disasters show the threat on the human beings brought by the environmental pollution. The harm of the overuse of resources is also very obvious. There are about 8,000,000 square kilometers of deserts in the world and the experts estimate that there are 30,000,000 square kilometers, i.e. 20% of the land facing the threat of desertification. In China, the area of deserts, Gobi and desertified land is as high as 674,000 square kilometers, accounting for 27.9% of the total land area. The direct economic loss caused by desertification every year is as high as RMB 54 billion. And 158,000 square kilometers of land has been in the process of desertification, 59,000,000 Mu of farmland and 74,000,000 Mu of grassland is under the threaten of desertification. In recent years, China's species are decreasing and disappearing with the accelerating speed due to the deterioration of the ecological environment. It is estimated that the wild species are in the direction of being endangered and extinct at the speed of one species every day and the amount of the species of cultivated crops is decreasing at the speed of 15% every year. China has 189, i.e. one quarter of 740 endangered worldly species listed in Convention on International Trade in Endangered Species of Wild Fauna and Flora of the United Nations. The output efficiency of the key resources of China is not only lower than that of developed countries and the average world level. In 2003, China's GDP accounts for 4% of the world, but the ratio of resource consumption in the world is 7.4% for petroleum, 31% for coal, 27% for steel, 25% for aluminum oxide and 40% for cement. China's water consumption is close to that of the USA, but its GDP is only 1/8 of that of the USA.These shocking figures make the people to have more thorough insight on the harm of the ecological and environmental problem. In the theoretical and practical field, the solution is being actively seeked and subsequently the green wave is formed. According to a survey, 80% of the ecological and environmental problems are caused by the improper production method of the enterprises. So there are a lot of studies on the change of the production and operation method of the enterprises. They mainly include green accounting, clean production, green marketing, green logistics and green investment etc. China's study on the green financial management starts from the end of 1990s, the contents of the study are some basic theoretical issues. But the current situation of the biological and environmental problem presses the enterprises to alleviate and solve the biological and environmental problem through the change of production and operation concept and behavior.In this paper, the data on the green financial management of the fertilizer manufacturers with high energy consumption and pollution shows that the enterprises do not actually exercise the green financial management. The analysis is made on the influencing factor and level on the exercise of the green financial management by the enterprises through building the multiple regression model and using the Eviews software. The results of the analysis show that the total significance level of the model is very high, i.e. the influence of the independent variable on the dependent variable is high. The significance level is 7.49E-05. [The significance level is expressed through (1-P)×100%, the larger percentage means higher significance level.] Eight influencing factors are analyzed, among which whether the enterprises have built the green financial management system, the financial management objective and government regulation has the largest influence of 99.97%,98.7% and 94.47%. The education level of the key leader, form of ownership and the treatment of the environmentally related problems of the enterprise has the influence of 88.37%,85.78% and 78.78%. The enterprise size and whether the enterprise discloses the environmental accounting information has the smallest significance level, they nearly have no influence on whether the enterprise exercises the green financial management.The game theory analysis of the relationship among enterprises and between the enterprise and government shows that the implementation of the green financial management of the enterprises shall be from the internal and external factors. On one hand, promote the change of the objective of the enterprise financial management through the human resource building and reform of the governance structure and on the other hand, the method and degree of government regulation shall be reinforced. Based on the analysis of the current situation of the green financial management of the enterprises, combing the enterprise financial management theory, the content system and measurement indicator system is designed. (on two levels of the performance and financial activities of enterprises. The AHP is used to determine the weight and make the comprehensive marking to measure the enterprise green financial management) .The mechanism of the enterprise green financial management is proposed on the basis of the above analysis. It is to mobilize the initiative of three aspects, i.e. government, enterprise and industry association. The government leads and supports the enterprise through the economic methods on one hand and makes the public to see the importance of the ecological and environmental protection and green consumption market through the building of the social ethics to promote the forming and improvement of the green consumption market on the other hand. The industry association exercises its function of organizing, supervising and coordinating to form the sound supervision and management system.The main conclusions of this paper are as the following:(1) From the development route of financial management, the green financial management is the direction of the development of the enterprise financial management.(2) The green financial management is developed from the financial management. It is the supplement to the financial management theory.(3) The relationship between the green financial management and green accounting is similar with that between the financial management and accounting. So that the green accounting is not exercised in the enterprises is one important limiting factor that affects the enterprise green financial management.(4) The main reason of the current relationship among enterprises and between the enterprises and government is that the external limiting conditions are not met, which leads to more advantage than disadvantage of not exercising green financial management in the enterprises.(5) The understanding of the enterprise on green financial management is from the economic interests. Only when the economic interests are harmed, the will to exercise financial management turns into action. So to change the understanding of the enterprise, the factor of social responsibility shall be the combined into the objectives of enterprise financial management.(6) The green financial management is just run in single procedure in the enterprise. The enterprise purchases the energy saving, pollution control and pollution prevention equipment in the project investment, however, the operation cost of these equipment is very high, the enterprise turns on it during the inspection and turns off it after inspection. This phenomenon is in violation with the theory that the financial management is system engineering. So currently the enterprise does not actually exercise green financial management.(7) Currently the financing of the enterprises especially some medium and small size enterprises is difficult, which poses a barrier to the exercise of the green financial management of the enterprises. In the meantime, the undeveloped technology and high cost of China's energy saving, pollution control and pollution prevention also increases the enterprises'cost. So the technology support is an indispensable factor for the enterprise to exercise the green financial management.(8) The pollution transfer and green trade barrier in the world further aggravates China's enterprise development and biological and environmental problems. This raises the need for the government to make the policy and rule to protect the competitiveness of the enterprises in China and avoid the limitation of the green barrier to improve their international competitiveness under the conditions of causing the same biological and environmental problems.(9) The situation of mobilizing the internal factors and strengthening the limiting force of the external factors to achieve the interaction of the regulation, service and self-development can be formed only from the enterprise, industry and government to actually achieve the enterprise green financial management.
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