Pledge Financing of Carbon Emission Rights:Legal Interpretation and Normative Structure
Pledge financing of carbon emission is a new type of green credit product and a model of financing loan,belongs to the category of pledge right in essence.According to the theory of pledge right,though carbon emission right derives from envi-ronmental right,it is an independent right and satisfies the reasonable expected earning of the transactional entity through the transfer of the object of this right.It is an assignable and suitable property,which manifest a pledge right.Based on the con-temporary legal provisions,it has the problems of the unclear legal nature of carbon emission rights,the unclear ontology struc-ture of pledge financing right of carbon emission,and the imperfect supervision system of pledge financing of carbon emission rights.Systematically,it needs to clarify the carbon emission right in the pledge object,standardize the registration institution,economy spending and pledge realization way of carbon emission pledge financing in the ontology structure to perfect the car-bon emission pledge financing structure.A"specialized and collaborative"supervising system need to be built to clarify the su-pervision object and to perfect the supervision mode.
carbon emission rightpledge financinggreen financepledge registrationsupervising system