Performance and legal response of non-performing assets in China's carbon market
The non-performing assets in the carbon market represent the negative consequences of the loss of carbon credit and the failure of trading expectations.There are three manifestations:basic non-performing assets,direct non-performing assets,and advanced non-performing assets.They have characteristics such as the virtual value of the deficit and the complexity of the causes,corresponding to the dual harm of interfering with market transactions and hindering low-carbon emissions reduction.Based on this,this article adopt-ed methods such as normative analysis and case studies to comprehensively analyze the qualitative and legal constraints of non-perform-ing assets in the carbon market and attempted to summarize the conceptual essence and legal reform measures of regulating non-per-forming assets in the carbon market.Through systematic research,this study found that,in terms of the qualitative analysis of non-per-forming carbon assets,the corresponding laws lacked the awareness to identify the corresponding non-performing carbon assets and did not have the practice to define their content and scope.In terms of preventing non-performing carbon assets,existing legal arrangements made it difficult to overcome negative factors such as improper business operations,a poor market environment,false promises,and mar-ket speculation that could lead to non-performing assets.In terms of the disposal of non-performing carbon assets,current laws had regu-latory gaps in the fields of disposal subjects,disposal content,disposal procedures,and disposal remedies,and the only related attempts failed to conform to the economic laws of non-performing asset digestion in the carbon market.Therefore,reformers need to focus on the logical context of the formation and elimination of non-performing carbon assets.At the conceptual level,firstly,a transparent competi-tion concept should be advocated to eliminate the injustice caused by information asymmetry as much as possible.Secondly,it is neces-sary to break the prisoner's dilemma of the game of interests;reformers need to fully boost confidence in maintaining the operation of the carbon market,maintain the smooth flow of information,change the preset total benefits of carbon emission reduction transactions,and guide enterprises to actively participate in carbon market activities.Finally,reformers should try their best to narrow the interest gap in fulfilling commitments and avoid the formation of a value foam.At the practical level,firstly,the attributes,content,and impact of non-performing assets in the carbon market should be clearly defined in rules and practices.Secondly,a comprehensive regulatory system should be established to prevent the accumulation of non-performing carbon assets.Finally,an integrated approach is needed to address the disposal of non-performing assets in the carbon market.
万方数据
维普
