光華講壇——社會(huì)名流與企業(yè)家論壇第6800期
主題：Green finance for a fossil fuel supply chain under cap-and-trade regulation: Aligning recycling, downcycling, and stranded asset risks with SDGs 3 and 7限額交易制度下化石燃料供應(yīng)鏈的綠色金融：將回收、降級(jí)利用和擱淺資產(chǎn)風(fēng)險(xiǎn)與可持續(xù)發(fā)展目標(biāo)3和7相結(jié)合
主講人：臺(tái)灣淡江大學(xué)原副校長(zhǎng) 林志鴻教授
主持人：經(jīng)濟(jì)學(xué)院 李雪蓮教授
時(shí)間：10月11日9:30-11:30
地點(diǎn)：柳林校區(qū)誠(chéng)正樓1542
主辦單位：經(jīng)濟(jì)學(xué)院 科研處
主講人簡(jiǎn)介：
林志鴻，美國(guó)克拉克大學(xué)博士，臺(tái)灣淡江大學(xué)國(guó)際企業(yè)學(xué)系教授、原淡江大學(xué)副校長(zhǎng)。曾受聘擔(dān)任西南財(cái)經(jīng)大學(xué)EMBA教育中心客座教授，并獲西南財(cái)經(jīng)大學(xué)EMBA教學(xué)耕耘紀(jì)念獎(jiǎng)。已在Energy Economics、International Review of Economics & Finance、Applied Economics等高水平學(xué)術(shù)刊物發(fā)表論文數(shù)十篇。因其貢獻(xiàn)，曾獲選Applied Economics全球前50名杰出審稿者。
內(nèi)容提要：
Recycling, downcycling in production, and stranded asset management supported byinsurer-provided green finance are essential to achieving SDG 3 (Good Health and Well-being) and SDG 7 (Affordable and Clean Energy). This paper develops a contingent claim model to assess the equity and equity risk of both the insurer and the supply chain under cap-and-trade regulation. The supply chain includes an upstream fossil fuel company, a plastic manufacturer engaged in recycling, and an electric power company conducting downcycling for construction materials. The model evaluates the impacts of cap-and-trade policy changes, circular production strategies, and stranded asset risks, which are key factors for advancing sustainability. The findings show that slag downcycling and managing stranded assets in the fossil fuel supply chain support policyholder protection and advance SDGs 3 and 7. A stringent cap-and-trade mechanism decreases equity and raises equity risk for both upstream fossil fuel and downstream electric power companies, inducing financial instability for clean energy investment. Increased use of recycled materials in plastic production raises both equity and equity risk for the manufacturer. When electric power companies adopt slag downcycling, it further improves the upstream company’s equity and lowers its risk, reinforcing progress toward SDG 7 through coordinated supply chain actions.
在碳配額交易機(jī)制驅(qū)動(dòng)下，化石燃料產(chǎn)業(yè)鏈向循環(huán)經(jīng)濟(jì)模式轉(zhuǎn)型。作為核心轉(zhuǎn)型路徑，回收利用與降級(jí)再生策略雖然有利于企業(yè)實(shí)現(xiàn)碳減排目標(biāo)，卻對(duì)產(chǎn)業(yè)鏈運(yùn)營(yíng)和金融穩(wěn)定性構(gòu)成挑戰(zhàn)，資產(chǎn)擱淺風(fēng)險(xiǎn)加劇。本次講座基于或有權(quán)益分析框架，構(gòu)建了循環(huán)經(jīng)濟(jì)風(fēng)險(xiǎn)評(píng)估模型，聚焦綠色金融支持下化石燃料產(chǎn)業(yè)鏈下游企業(yè)實(shí)施循環(huán)生產(chǎn)后的權(quán)益價(jià)值風(fēng)險(xiǎn)變動(dòng)及其產(chǎn)業(yè)鏈傳導(dǎo)效應(yīng)。該研究深入探討了氣候政策規(guī)制、循環(huán)生產(chǎn)與轉(zhuǎn)型風(fēng)險(xiǎn)間的動(dòng)態(tài)關(guān)聯(lián)機(jī)制，對(duì)統(tǒng)籌推進(jìn)SDG3（良好健康與福祉）與SDG7（經(jīng)濟(jì)適用的清潔能源）等可持續(xù)發(fā)展目標(biāo)具有重要意義。
