Research On The Legal System Of Green Credit Under The Background Of "Double Carbon"

In September 2020,China set a "double carbon" goal--to reach "carbon peak" by 2030 and "carbon neutrality" by 2060.As a pillar industry in the national environmental governance system,the financial sector has provided a strong driving force for the transformation and upgrading of low-carbon economy and the development of green finance.As the most basic and important component of the current green finance system,green credit will play a strong guiding role in the realization of the "double carbon" goal through the driving mechanism of policy guidance and financial support.China Green Credit Development Report 2010 first officially defined green credit as "an important means for the government to use economic leverage to promote the development of environmental protection".In this paper,green credit is specifically defined as a new credit mode in which market entities avoid potential environmental risks,provide financial support for green projects with corresponding qualifications and environmental value,and restrict or exclude credit granting to projects or enterprises with potential environmental damage in order to achieve the dual goals of promoting development and promoting ecology under the guidance and constraints of national regulations and policies.The theoretical basis of green credit mainly includes external constraint theory,equator principle theory and environmental responsibility theory.As a relatively scientific and non-mandatory criterion based on judgment,risk assessment and project financing management,Equator Principle has become an internationally recognized voluntary implementation mechanism combining project financing and environmental protection.According to the search in the law database of Peking University,by the middle of February 2023,there are about 12 laws indirectly related to green credit in China.At present,no special administrative regulations have been promulgated,and there are38 departmental rules(including normative documents and working documents).Provinces and cities have issued 193 green finance policy documents,but only 26 special guidance documents on green credit,accounting for less than 14 percent.From the analysis of the green credit policy texts in the provinces,the content of green credit accounts for less than 20%.At present,most of the legal documents related to green credit belong to departmental rules,normative documents and local working documents,which have a low level of effectiveness and weak national coercive power.The frequency of encouraging supplementary words in local laws and policies is very low.Combining with the general situation of the green credit legislation in China,the thesis analyzes 22 green credit-related judgment cases publicized on the Internet of Chinese judgment documents.It is found that the legal system of green credit in China is faced with the following predicament: the legal policy system is not perfect,the provisions on the environmental legal liability of the lender are absent,the excessive reliance on the administrative promotion mechanism,and it is difficult to form a long-term promotion mechanism;Lack of operability of incentive policies,lack of supporting rules for local incentive tools,lack of incentives and compensatory provisions;Environmental risk management system is not perfect,risk prevention and control is not in place,information disclosure and sharing mechanism is not perfect,public supervision and public participation is insufficient.Perfecting the legal system of green credit in our country is as follows:Constructing a perfect legal policy system,promoting the special legislation of green credit,clarifying the lender’s environmental legal liability,applying "mixed law" mode;Establish an effective incentive mechanism,improve the supporting rules according to local conditions,add incentives and compensatory provisions;Set up a sound environmental risk management system,establish an internal control and risk supervision system,improve the information disclosure and sharing mechanism,improve the public supervision and participation system.