3月23日，由中金公司主办的“碳中和2060”全球征文活动在北京举办颁奖仪式。中央财经大学绿色金融国际研究院研究人员与伦敦大学学院研究人员潘冬阳、陈川祺、Michael Grubb，以及中财大绿金院院长王遥教授合著的学术论文《FinancialPolicy, Green Transition and Recovery after the COVID-19》，获得“优秀论文奖”（Outstanding Paper）。在全球所有投稿论文中，仅三篇论文获得该奖项。

该篇论文使用宏观经济学中引入“定向技术进步”（DirectedTechnical Change）与金融约束的内生增长模型，分析了金融政策在经济绿色低碳转型、疫情后绿色复苏过程中所能够发挥的作用。文章特别发现，在疫情后的经济恢复期，金融政策能够以更低成本促进更快的经济绿色低碳转型，加速“碳达峰”“碳中和”的过程；同时，需要大幅加强政策力度，才能够实现2030年“碳达峰”的目标。

论文摘要如下：

Public policy that acts on financing activity -- referred tohere as “financial policy” -- can play an important role in supporting thegreen transition and recovery of the economy. This research studies thespecific role of financial policy, the mechanism of support, and how financialpolicy can be coordinated with other public policies that encourage the greentransition, particularly in the recovery period after the COVID-19 pandemic.The method we employ is a macroeconomic growth model with “directed technicalchange”, the natural environment, and financial features. It is found that (1)financial constraints are non-trivial in the economy and could delay the greentransition if no additional policy is introduced. (2) Financial policy directionallysupporting the green economic sector can facilitate the green transition andhelp stop the environmental degradation. (3) A financial policy can bringeffects similar to some other policies in supporting the green transition.Compared with related policies, financial policy has certain advantages anddisadvantages. There is a clear theoretical rationale to combine financialpolicy with other policies to save cost and improve the effect. (4) A greenrecovery after the COVID-19 shock can be realised with an appropriate mix offinancial policy and other related policies. The post-pandemic period offers a window ofopportunity to hasten the green transition. These findings not only justify the desirability of thecurrently popular “green financial policy”, show the way of policy conductionand coordination, but also reveal the special value of such policy after theCOVID-19 if we want to accelerate the “green recovery”.

基于本论文的延伸观点，请参阅今日观点文章《IIGF观点|绿色复苏：金融业与金融监管机构的角色》以及《中国金融》杂志2021年第4期所刊登的文章《绿色复苏中的金融角色》。

工作论文下载地址：https://ssrn.com/abstract=3719695。

论文作者诚挚邀请广大学者对论文提出宝贵意见，共同推进碳中和与绿色金融相关议题的研究。

邮箱：d.pan.17@ucl.ac.uk或chuanqichen@email.cufe.edu.cn。

原创声明

如需转载、引用本文观点，请注明出处为“中央财经大学绿色金融国际研究院”。

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