时间：2025年12月28日（周六）9：00

地点：气候变化与能源经济研究中心会议室

Paper1：黄林 商业银行绿色治理信贷溢价效应研究

摘要：目前鲜有研究下沉到微观业务层面探讨银行绿色治理对其绩效的影响，而对该问题的回答关乎银行能否兼顾“绿色”与“盈利”双重目标、保持服务经济绿色转型的内在动力。有鉴于此，本文在构建我国银行绿色治理指数基础上，利用手工收集的2008—2018年17552笔中国上市公司银行贷款数据，考察了银行绿色治理对信贷定价的影响。研究发现：第一，银行绿色治理会显著提高信贷定价，即存在银行绿色治理信贷溢价效应。第二，银行绿色治理会通过绿色声誉效应和绿色成本效应提高信贷定价。第三，考察银行端绿色治理类型发现，银行主动型绿色治理的信贷溢价效应显著强于遵从型绿色治理。第四，分析企业端绿色表现异质性发现，企业绿色表现提升可缓解银行绿色治理信贷溢价效应的影响。此外，与高绿色治理水平银行建立借贷关系有助于降低企业后续贷款成本。本文为监管部门深化绿色银行体系建设提供理论基础，也为银行通过绿色治理获取竞争优势、为企业持续提升绿色表现提供经验证据。

Paper2：陈彦霖 Heterogeneous Responses to Carbon Pricing: Firm-Level Evidence from Beijing Emissions Trading Scheme

摘要：Hydrogen (H2) will play a part in decarbonizing the global energy system1. However, hydrogen interacts with methane, ozone, and stratospheric water vapour, leading to an indirect 100-year global warming potential of 11 ± 4 (refs. 2–5). This raises concerns about the climate consequences of increasing H2 use under future hydrogen economies3,5. A comprehensive accounting of H2 sources and sinks is essential for assessing changes and mitigating environmental risks. Here we analyse trends in global H2 sources and sinks from 1990 to 2020 and construct a comprehensive budget for the decade 2010–2020. H2 sources increased from 1990 to 2020, primarily because of the oxidation of methane and anthropogenic non-methane volatile organic compounds, biogenic nitrogen fixation, and leakage from H2 production. Sinks also increased in response to rising atmospheric H2. Estimated global H2 sources and sinks averaged 69.9 ± 9.4 Tg yr−1 and 68.4 ± 18.1 Tg yr−1, respectively, for 2010–2020. Regionally, Africa and South America contained the largest sources and sinks of H2, whereas East Asia and North America contributed the most H2 emissions from fossil fuel combustion. We estimate that rising atmospheric H2 between 2010 and 2020 contributed to an increase in global surface air temperature (GSAT) of 0.02 ± 0.006 °C. GSAT impacts of changing atmospheric H2 in future marker Shared Socioeconomic Pathway scenarios are estimated to remain within 0.01–0.05 C, depending on H2 usage, leakage rates and CH4 emissions that influence photochemical H2 production.