The Correlation Research Between Environmental Performance And Financial Performance Under Low Carbon Economy

In recent years, with the rapid development of China’s industrialization process, a variety ofenvironmental problems emerge in our society, especially the fog weather near many provincessince the period of a wide range, but also a wake-up call to the people.Taking into account theprotection of the environment should the same time with to achieve economic growth, trying tofind a balance between environmental protection and industrial development is the only way toachieve sustainable development in society as a whole. So is helpful to improve the industry’senvironmental performance to financial performance? Based on this, how to improveenvironmental performance.Based on this,how to improve environmental performance and thusto improve the financial performance of enterprises, making the relationship between the two toachieve a "win-win” state has become an urgent problem which needs to solve. Therefore,theresearch of the relationship between the two problems has far-reaching significance, no matterfrom the Angle of environment, or from a financial point of view.Firstly the study introduces the current western facing economic and environmentalbackground, summarized the related literature at home and abroad, and define the low carboneconomy and environmental performance and financial performance and the influence factors ofeach other, in the resource property right theory, Coase theory of external factors, environmentalkuznets’ curve theory, according to the principles of scientific, systematic, feasibility, lowcarbon environmental performance index system is established. This paper selected the2002-2011in the western environmental pollution serious resources industry as samples, to thelow carbon economy under the environment of performance indicators and financialperformance evaluation index system is analyzed and filter, using principal component analysismethod to extract the environmental aspects by means of dimension reduction of principalcomponents, finally determine the most representative of three kinds of four environmentalperformance indicators, two indicators of financial performance. Finally, respectively, throughthe analysis of the correlation data section and2002-2011based on time, industry and differentexplanatory variables of panel data model analysis, the empirical test of the relationship betweenenvironmental performance and financial performance, come to the conclusion: theenvironmental performance of the resource consumption and environmental pollution willweaken the financial performance of relevant industries and environmental governance hashysteresis effects on financial performance, so in the long run, it can bring positive and effectivefrom environment prevention and management environment.This conclusion is helpful toencourage western resources industry, actively carry out environmental prevention andmanagement in accordance with the requirements of the low carbon economy planning anddesign, reasonable layout, regulation and control and promote the resources development and change of the pattern, perfect the system and mechanism of sustainable development, promotingindustry transformation of resources industry to low carbon resources.