Study On The Innovation Of Enterprise Financing Mode Based On Carbon Quota

Promoting low-carbon economy and green economy development is a hot topic in current economic construction allover the world.To deal with the problem of climate change caused by greenhouse gas emissions,drawing on the experience of the international carbon trading,our country gradually explored the establishment of a national carbon trading market,and at the end of 2017 chose the power generation industry to start a unified national carbon trading market.Carbon quota is the main product of carbon market.Because it has the attributes of value,price and property right,it has ideal financing application conditions,and has opened a new way for enterprise financing.Combining theoretical analysis with practical application,two financing modes based on carbon quota are explored in this dissertation,and the specific operation processes are given as well,which provide a reference for the development and application of carbon financing tools in reality.There are six chapters in this dissertation.Chapter 1 is introduction,which introduces the background and significance of the study,reviews the relevant literature both at home and abroad,and illustrates the article contents,research ideas and innovations.In Chapter 2,the related concepts of carbon quota,dynamic pledge and repurchase are defined,and the theoretical basis of the use of carbon quota for financing innovation is analyzed.In Chapter3,it reviews the development history and current situation of carbon quota trading at home and abroad.Then it puts forward a detailed argumentation on the innovation of carbon quota financing mode,lists the attributes that carbon quota can be used for corporate financing,and focuses on analyzing the necessity and feasibility of the innovation of carbon quota financing mode.Chapter 4 and Chapter 5 are the core contents of this dissertation.In Chapter 4 two financing modes based on carbon quota have been designed,namely dynamic pledge financing and repurchase financing,from three aspects including basic thinking,operation process and feedback mechanism.In Chapter 5,taking the power generation industry as an example,it explains the background and financing condition of the industry,focuses on the application of carbon quota financing mode in specific sector,gives a general operation process for the two kinds of financing mode.And combiningwith the existing financial problems and carbon trading experience of Beijing Jingneng Power Co.,Ltd,it exemplified the applicability and the expected use effect of the two kinds of carbon quota financing modes.In Chapter 6,from the system construction,policy guidance,financial innovation and risk management of four points of view,application suggestions of carbon quota financing modes have been given.Finally,it makes a brief summary of the full dissertation,and looks forward to the future of carbon quota financing.The innovation lies in combining the dynamic pledge theory,the repurchase theory with the carbon quota financing.Based on the analysis of the necessity and feasibility of carbon quota financing mode innovation,two financing modes based on carbon quota are designed,namely dynamic pledge financing and repurchase financing.And their specific design ideas,operation process and corresponding feedback mechanism are expounded respectively.After the construction of theoretical framework,this dissertation further analyzes the application and promotion strategy of the financing mode,combining with the power generation industry and Beijing Jingneng Power Co.,Ltd,describes the application prospect,the operation process,the applicability of the financing model and the expected use effect.Suggestions on the application of the carbon quota financing mode from four aspects have been given,which provide a reference for alleviating the financing pressure and the theoretical innovation and practical application of the carbon quota financing in reality.