文献类型：期刊文献

英文题名：How do banks set carbon pledge interest rates while considering government carbon quota policies?

作者：Hu, Yiyi[1];Chang, Xiangyun[1];Tao, Feng[2]

机构：[1]East China Univ Sci & Technol, Business Sch, Shanghai 200237, Peoples R China;[2]Soochow Univ, Business Sch, Suzhou, Peoples R China

年份：2025

卷号：522

外文期刊名：JOURNAL OF CLEANER PRODUCTION

收录：;EI(收录号：20253118912634);WOS:【SCI-EXPANDED(收录号:WOS:001545736200002)】；

基金：We sincerely thank the editor and reviewers for their valuable feedback and helpful suggestions, which greatly improved this paper. This work was supported by the National Natural Science Foundation of China [grant numbers 72474068 and 72074078] .

语种：英文

外文关键词：Carbon pledge strategy; Carbon pledge interest rate; Carbon quota policy

摘要：Carbon quota pledge financing (CQPF) helps manufacturers alleviate financial pressure. Different carbon quota policies complicate banks' carbon pledge interest rate (CPIR) setting strategies. Thus, this paper investigates banks' CPIR setting strategy considering two carbon quota policies, i.e., the grandfathering policy and benchmarking policy. The findings reveal the existence of a threshold yielding two carbon pledge strategies. When the CPIR is below the threshold, the manufacturer adopts the whole carbon pledge strategy (Strategy W). Otherwise, the partial carbon pledge strategy (Strategy P) is adopted. Under Strategy W, as the CPIR increases, the total amount of the manufacturer's carbon reduction remains unchanged, whereas the bank's profit increases. Under Strategy P, as the CPIR increases, the total amount of the manufacturer's carbon reduction decreases, and the change in the bank's profit is related to the manufacturer's initial carbon emissions per unit of product. Thus, for carbon reduction, the bank sets the CPIR at the threshold at which the manufacturer switches carbon pledge strategies. For the bank's profit, the CPIRs are determined on the basis of the manufacturer's initial carbon emissions per unit product. In response to the government's grandfathering policy and benchmarking policy, the different CPIRs are reflected in the extent of adjustments.