{"id":195810,"date":"2023-08-30T10:13:06","date_gmt":"2023-08-30T02:13:06","guid":{"rendered":"https:\/\/www.hkubs.hku.hk\/research\/thought-leadership\/the-potential-turmoil-of-the-green-swan-in-finance\/"},"modified":"2023-09-06T17:45:20","modified_gmt":"2023-09-06T09:45:20","slug":"the-potential-turmoil-of-the-green-swan-in-finance","status":"publish","type":"thought-leadership","link":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/","title":{"rendered":"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40"},"content":{"rendered":"<div>\n<p>\u74b0\u9867\u4e16\u754c\u5404\u5730\uff0c\u6c23\u5019\u8b8a\u5316\u5c0e\u81f4\u81ea\u7136\u707d\u96e3\u983b\u751f\uff0c\u800c\u4e14\u7834\u58de\u529b\u6975\u5f37\uff0c\u885d\u64ca\u5404\u884c\u5404\u696d\uff0c\u5f71\u97ff\u7d93\u6fdf\u7a69\u5b9a\uff0c\u751a\u81f3\u5f15\u767c\u91d1\u878d\u5371\u6a5f\u3002<\/p>\n<h5>\u5927\u81ea\u7136\u8b66\u544a\u983b\u4ecd<\/h5>\n<p>\u8fd110\u5e74\u4f86\uff0c\u5168\u7403\u7d93\u6fdf\u56e0\u6c23\u5019\u8b8a\u5316\u707d\u96e3\u800c\u8499\u53d7\u7684\u76f4\u63a5\u7d93\u6fdf\u640d\u5931\uff0c\u4f30\u8a08\u5e73\u5747\u6bcf\u5e74\u9ad8\u9054\u7d041.3\u842c\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u4e16\u754c\u672c\u5730\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u76840.2%\u5de6\u53f3\u30022018\u5e74\u52a0\u5dde\u68ee\u6797\u5927\u706b\u7684\u640d\u5931\u70ba3500\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u7576\u6642\u7f8e\u570bGDP\u76841.7%\u3002\u4e0a\u6708\u98b1\u98a8\u675c\u8607\u82ae\u76f4\u8972\u798f\u5efa\u7701\uff0c\u4ea6\u9020\u6210\u5343\u5104\u5143\u4eba\u6c11\u5e63\u7684\u640d\u5931\u3002<\/p>\n<p>\u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54\u7684\u5c08\u5bb6Felix Suntheim\u548cJ\u00e9r\u00f4me Vandenbussche\u8a8d\u70ba\uff0c\u900f\u904e\u5728\u91d1\u878d\u9ad4\u7cfb\u4e2d\u767c\u63ee\u6838\u5fc3\u4f5c\u7528\u7684\u80a1\u7968\u5e02\u5834\uff0c\u53ef\u5206\u6790\u6c23\u5019\u8b8a\u5316\u5c0d\u91d1\u878d\u7a69\u5b9a\u7684\u5f71\u97ff\u3002\u904e\u53bb50\u5e74\u5167\u7d04350\u6b21\u5927\u898f\u6a21\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u4e2d\uff0c\u670910%\u5c0d\u7e3d\u9ad4\u5e02\u5834\u7684\u5f71\u97ff\u8d85\u904e14%\u3002\u4f8b\u59822011\u5e74\uff0c\u6cf0\u570b\u6c34\u707d\u5f15\u767c\u8a72\u570b\u80a1\u5e02\u572840\u5929\u5167\u5927\u8dcc30%\u3002<\/p>\n<h5>\u5929\u9d5d\u98a8\u96aa\u518d\u73fe<\/h5>\n<p>2020\u5e74\u570b\u969b\u6e05\u7b97\u9280\u884c\u767c\u8868\u300c\u7da0\u5929\u9d5d\u300d\u5831\u544a\uff0c\u6307\u51fa\u6c23\u5019\u8b8a\u5316\u52e2\u5c07\u6210\u70ba\u885d\u64ca\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u91cd\u8981\u98a8\u96aa\u3002\u7f8e\u570b\u7cbe\u7b97\u5e2b\u5b78\u6703\uff08Society of Actuaries\uff09\u6700\u8fd1\u671f\u767c\u8868\u7684\u65b0\u8208\u98a8\u96aa\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6c23\u5019\u98a8\u96aa\u75312019\u81f32022\u5e74\u671f\u9593\uff0c\u9023\u7e8c4\u5e74\u88ab\u8996\u70ba\u4e3b\u8981\u98a8\u96aa\u4e4b\u4e00\uff0c\u53ef\u5206\u70ba\u300c\u5be6\u9ad4\u300d\u8207\u300c\u8f49\u578b\u300d\u5169\u7a2e\u3002\u5be6\u9ad4\u98a8\u96aa\u662f\u6307\u6975\u7aef\u6c23\u5019\u9020\u6210\u751f\u547d\u8ca1\u7522\u640d\u5931\uff0c\u4f01\u696d\u6210\u672c\u589e\u52a0\u800c\u5229\u6f64\u6e1b\u5c11\uff0c\u589e\u52a0\u91d1\u878d\u696d\u904b\u4f5c\u7684\u6210\u672c\u8207\u98a8\u96aa\u3002\u8f49\u578b\u98a8\u96aa\u5247\u6307\u70ba\u4e86\u6e1b\u7de9\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u7684\u885d\u64ca\uff0c\u5404\u570b\u653f\u5e9c\u5be6\u65bd\u6e1b\u78b3\u653f\u7b56\uff0c\u5c07\u6703\u7a92\u7919\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u7d93\u71df\u3002\u5728\u4f01\u696d\u8cb8\u6b3e\u5408\u7d04\u4e2d\uff0c\u9ad8\u78b3\u6392\u653e\u6a5f\u5668\u8a2d\u5099\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u50f9\u503c\u5c07\u6703\u4e0b\u964d\uff0c\u800c\u63d0\u9ad8\u4fe1\u7528\u98a8\u96aa\uff1b\u8cb8\u6b3e\u7d66\u9019\u4e9b\u7522\u696d\u7684\u9280\u884c\u81ea\u7136\u9996\u7576\u5176\u885d\u3002<\/p>\n<p>2017\u5e74\u6210\u7acb\u7684\u300c\u592e\u884c\u8207\u76e3\u7ba1\u6a5f\u69cb\u7da0\u8272\u91d1\u878d\u7db2\u7d61\u300d\uff08Network for Greening the Financial System\uff1b\u7c21\u7a31NGFS\uff09\uff0c\u5728\u51762020\u5e74\u7684\u5831\u544a\u4e2d\u6307\u51fa\uff0c\u82e5\u5168\u7403\u6696\u5316\u5931\u63a7\uff0c\u9810\u8a082100\u5e74\u5be6\u9ad4\u98a8\u96aa\u5c0dGDP\u7684\u640d\u5931\u6bd4\u7387\u5c07\u7d2f\u8a08\u905425%\u3002\u6b64\u5916\u9084\u6709\u8a31\u591a\u5be6\u9ad4\u98a8\u96aa\u7121\u6cd5\u7d0d\u5165\u8a55\u4f30\uff0c\u81f3\u65bc\u6d77\u5e73\u9762\u4e0a\u5347\u3001\u5929\u707d\u9020\u6210\u4eba\u53e3\u9077\u5f99\u3001\u5340\u57df\u885d\u7a81\u7b49\u9020\u6210\u7684\u640d\u5931\uff0c\u66f4\u5c1a\u672a\u7d0d\u5165\u8a08\u7b97\u4e4b\u4e2d\u3002\u99ac\u723e\u4ee3\u592b\u7b49\u5cf6\u570b\u7531\u65bc\u5883\u516780%\u7684\u9678\u5730\u9762\u7a4d\u6d77\u62d4\u9ad8\u5ea6\u4e0d\u52301\u7c73\uff0c\u56e0\u6b64\u96a8\u7740\u6d77\u5e73\u9762\u4e0a\u5347\uff0c\u4f30\u8a08\u6216\u6703\u57282100\u5e74\u4e4b\u5f8c\u5b8c\u5168\u9678\u6c89\u3002\u5168\u7403\u6696\u5316\u4ea6\u5f71\u97ff\u7ce7\u98df\u751f\u7522\uff0c\u82e5\u6c23\u6eab\u589e\u52a0\u651d\u6c0f2\u5ea6\uff0c\u71b1\u5e36\u5730\u5340\u5c0f\u9ea5\u6216\u6703\u6e1b\u752220%\u3002<\/p>\n<h5>\u6b0a\u8861\u98a8\u96aa\u8f15\u91cd<\/h5>\n<p>\u7f8e\u570b\u91d1\u878d\u4f01\u696dMSCI\u57282021\u5e74\u57fa\u65bc\u4e0d\u540c\u60c5\u666f\u4e0b\uff0c\u8a55\u4f30\u7522\u696d\u53d7\u8f49\u578b\u98a8\u96aa\u885d\u64ca\u7684\u7a0b\u5ea6\u3002\u4f8b\u5982\u7576\u6eab\u5ea6\u589e\u9577\u53ef\u63a7\u5236\u5728\u651d\u6c0f1.5\u5ea6\uff0c\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u8f49\u578b\u98a8\u96aa\u8f03\u5927\uff0c\u6b50\u6d32\u7684\u80fd\u6e90\u516c\u53f8\u8cc7\u7522\u50f9\u503c\u5e73\u5747\u5c07\u5927\u6e1b67%\uff0c\u5275\u65b0\u7684\u4f4e\u78b3\u6280\u8853\u7522\u696d\u5247\u6703\u589e\u52a018%\u6536\u5165\u3002\u81f3\u65bc\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u96d6\u7136\u4e5f\u5c07\u8dcc\u8fd1\u516d\u6210\uff0c\u4f46\u4f4e\u78b3\u6280\u8853\u4ea6\u5c07\u70ba\u5176\u589e\u52a0\u56db\u6210\u6536\u5165\u3002<\/p>\n<p>\u82e5\u6eab\u5ea6\u589e\u9577\u651d\u6c0f3\u5ea6\uff0c\u5404\u570b\u653f\u5e9c\u7684\u6e1b\u78b3\u653f\u7b56\u6216\u6703\u8f49\u8da8\u6d88\u6975\uff0c\u8f49\u578b\u98a8\u96aa\u5c0d\u5404\u7522\u696d\u8cc7\u7522\u50f9\u503c\u9020\u6210\u7684\u640d\u5931\u4fbf\u6703\u8f03\u5c0f\uff1b\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u5c07\u6e1b\u5c11\u7d04\u5169\u6210\uff0c\u537b\u56e0\u6e1b\u78b3\u8a98\u56e0\u4e0d\u8db3\uff0c\u5275\u65b0\u79d1\u6280\u5e36\u4f86\u7684\u65b0\u6536\u5165\u4e5f\u5c07\u5927\u5e45\u7e2e\u6e1b\u3002\u4ee5\u4e0a\u6578\u64da\u986f\u793a\uff0c\u8f49\u578b\u98a8\u96aa\u8207\u5be6\u9ad4\u98a8\u96aa\u662f\u7ff9\u7ff9\u677f\u7684\u5169\u7aef\uff0c\u70ba\u8ff4\u907f\u8f49\u578b\u98a8\u96aa\u800c\u4e0d\u9858\u7a4d\u6975\u6e1b\u78b3\uff0c\u96e3\u514d\u52a0\u5287\u5be6\u9ad4\u98a8\u96aa\u3002<\/p>\n<p>\u65b0\u51a0\u80ba\u708e\u5927\u6d41\u884c\u4fc3\u4f7f\u91d1\u878d\u696d\u754c\u91cd\u65b0\u8a55\u4f30\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u4ee3\u50f9\u3002\u6839\u64da\u67cf\u541b\u54f2\uff08Michael Baldinger\uff092020\u5e74\u7684\u5206\u6790\uff0c\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6709\u4e09\u5927\u5171\u901a\u9ede\u3002\u7b2c\u4e00\uff0c\u65b0\u51a0\u80ba\u708e\u662f\u4e00\u5834\u53f2\u7121\u524d\u4f8b\u7684\u516c\u5171\u885b\u751f\u707d\u96e3\uff0c\u4e16\u754c\u5404\u570b\u56e0\u672a\u80fd\u53ca\u65e9\u9632\u7bc4\u800c\u5099\u53d7\u91cd\u5275\uff1b\u9762\u5c0d\u6c23\u5019\u8b8a\u9077\uff0c\u4ea6\u9808\u5f15\u4ee5\u70ba\u9451\u3002\u7b2c\u4e8c\uff0c\u75ab\u60c5\u7a81\u986f\u5728\u5168\u7403\u5316\u4e0b\uff0c\u8907\u96dc\u7684\u4f9b\u61c9\u93c8\u9762\u5c0d\u707d\u96e3\u6642\u5982\u4f55\u4e0d\u582a\u4e00\u64ca\uff1b\u6c23\u5019\u8b8a\u5316\u6240\u80fd\u7522\u751f\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u540c\u6a23\u8db3\u4ee5\u7671\u7613\u4e16\u754c\u7d93\u6fdf\u3002\u7b2c\u4e09\uff0c\u65b0\u51a0\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6240\u9020\u6210\u7684\u885d\u64ca\u96d6\u6709\u7de9\u6025\u4e4b\u5225\uff0c\u4f46\u82e5\u6709\u95dc\u7576\u5c40\u61c9\u5c0d\u75ab\u60c5\u4e0d\u529b\uff0c\u4ee5\u81f4\u6c23\u5019\u98a8\u96aa\u5931\u63a7\uff0c\u5f8c\u679c\u4e0d\u582a\u8a2d\u60f3\u3002<\/p>\n<h5>\u6a21\u64ec\u5f0f\u58d3\u529b\u6e2c\u8a66<\/h5>\n<p>\u6839\u64da\u570b\u969b\u6e05\u7b97\u9280\u884c\u7684\u7814\u7a76\uff0c\u4e0b\u4e00\u500b\u7cfb\u7d71\u6027\u91d1\u878d\u98a8\u96aa\u53ef\u80fd\u6e90\u81ea\u6c23\u5019\u885d\u64ca\uff0c\u56e0\u6b64\u76e3\u7ba1\u6a5f\u95dc\u6709\u8cac\u4efb\u8981\u6c42\u91d1\u878d\u6a5f\u69cb\u8a55\u4f30\u4e26\u63ed\u9732\u5176\u6c23\u5019\u98a8\u96aa\u3002\u70ba\u6b64\uff0c\u6cd5\u3001\u82f1\u5169\u570b\u7684\u4e2d\u592e\u9280\u884c\u57282021\u5e74\u7387\u5148\u5c0d\u672c\u570b\u7684\u91d1\u878d\u6a5f\u69cb\u548c\u7cfb\u7d71\u555f\u52d5\u6c23\u5019\u8b8a\u5316\u58d3\u529b\u6e2c\u8a66\uff1b\u6b50\u6d32\u5404\u570b\u7684\u6709\u95dc\u6e2c\u8a66\u5247\u57282022\u5e74\u5c55\u958b\u3002\u81f3\u65bc\u7f8e\u570b\uff0c\u806f\u90a6\u5132\u5099\u5c40\u4ea6\u65bc\u8fd1\u5e74\u6210\u7acb\u4e86\u76f8\u95dc\u59d4\u54e1\u6703\uff0c\u64ec\u65bc2023\u81f32025\u5e74\u8981\u6c42\u91d1\u878d\u754c\u5c07\u6c23\u5019\u8b8a\u5316\u7d0d\u5165\u58d3\u529b\u6e2c\u8a66\u3002\u65e5\u672c\u592e\u884c\u5247\u63a8\u51fa\u65b0\u7684\u8cb8\u6b3e\u5de5\u5177\uff0c\u63d0\u4f9b\u8cc7\u91d1\u652f\u6301\u6c23\u5019\u8b8a\u5316\u7684\u9805\u76ee\u3002<\/p>\n<p>\u91d1\u878d\u6c23\u5019\u58d3\u529b\u6e2c\u8a66\u5be6\u6709\u52a9\u65bc\u91d1\u878d\u6a5f\u69cb\u638c\u63e1\u5728\u6975\u7aef\u6c23\u5019\u4e0b\uff0c\u5176\u8cc7\u7522\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002\u4f8b\u5982\u82f1\u502b\u9280\u884c\u4e00\u4efd\u5831\u544a\u63d0\u53ca\uff0c\u5168\u82f1\u570b\u7684\u623f\u8cb8\u7269\u696d\u7d04\u670910%\u8655\u65bc\u5bb9\u6613\u6c34\u6d78\u5340\u57df\uff0c\u56e0\u6b64\u5efa\u8b70\u5404\u9280\u884c\u67e5\u627e\u623f\u8cb8\u62b5\u62bc\u54c1\u4f4d\u65bc\u6c34\u6d78\u5340\u7684\u6bd4\u4f8b\uff0c\u518d\u6309\u707d\u60c5\u4e0d\u540c\u7a0b\u5ea6\u9810\u8a08\u6240\u6d89\u640d\u5931\u3002<\/p>\n<p>\u7f8e\u570b\u9280\u884c\u5247\u4ee55\u7d1a\u98b6\u98a8\u4f86\u6a21\u64ec\u5176\u623f\u5730\u7522\u62b5\u62bc\u54c1\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002<\/p>\n<h5>\u5168\u65b9\u4f4d\u61c9\u5c0d\u7b56\u7565<\/h5>\n<p>\u4e8b\u5be6\u4e0a\uff0c\u76ee\u524d\u4e0d\u4e4f\u6df1\u5165\u63a2\u8a0e\u6c23\u5019\u8b8a\u5316\u5c0d\u8ca8\u5e63\u653f\u7b56\u5f71\u97ff\u7684\u7814\u7a76\u3002\u82f1\u502b\u9280\u884c\u7684\u5df4\u6ed5\uff08Sandra Batten\uff09\u8a8d\u70ba\uff0c\u6c23\u5019\u8b8a\u5316\u5c07\u589e\u52a0\u901a\u8ca8\u81a8\u8139\u53ca\u7d93\u6fdf\u589e\u9577\u9810\u6e2c\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5f71\u97ff\u592e\u884c\u9054\u6210\u8ca8\u5e63\u7a69\u5b9a\u7684\u76ee\u6a19\u653f\u7b56\u3002NGFS\u7684\u7814\u7a76\u767c\u73fe\uff0c\u6975\u7aef\u6c23\u5019\u4e8b\u4ef6\u767c\u751f\u7684\u983b\u7387\u8207\u5f37\u5ea6\u589e\u52a0\uff0c\u5c07\u64f4\u5927\u901a\u8ca8\u81a8\u8139\u548c\u91d1\u878d\u5e02\u5834\u50f9\u683c\u7684\u6ce2\u52d5\u6027\uff0c\u524a\u5f31\u8ca8\u5e63\u653f\u7b56\u7684\u57f7\u884c\u6548\u679c\uff0c\u56e0\u800c\u5efa\u8b70\u628a\u6c23\u5019\u8b8a\u5316\u98a8\u96aa\u7d0d\u5165\u592e\u884c\u8ca8\u5e63\u653f\u7b56\uff0c\u6b64\u8209\u662f\u5426\u9069\u7576\uff0c\u5404\u754c\u81f3\u4eca\u672a\u6709\u5b9a\u8ad6\u3002\u9451\u65bc\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u5de5\u5177\u6709\u9650\uff0c\u96e3\u4ee5\u5145\u5206\u8986\u84cb\u4f4e\u78b3\u8f49\u578b\u98a8\u96aa\uff1b\u53cd\u89c0\u8ca1\u653f\u653f\u7b56\u548c\u91d1\u878d\u76e3\u7ba1\uff0c\u56e0\u5177\u5099\u8f03\u591a\u800c\u5bcc\u5f48\u6027\u7684\u653f\u7b56\u5de5\u5177\uff0c\u76f8\u4fe1\u66f4\u53ef\u767c\u63ee\u61c9\u5c0d\u6c23\u5019\u8b8a\u5316\u4e4b\u6548\u3002<\/p>\n<p>\u82e5\u8981\u6e96\u78ba\u8861\u91cf\u6c23\u5019\u8b8a\u5316\u6240\u5e36\u4f86\u7684\u91d1\u878d\u98a8\u96aa\uff0c\u91d1\u878d\u696d\u5c07\u9762\u81e84\u9805\u6311\u6230\uff1a\u4e00\u3001\u5206\u6790\u6578\u5341\u5e74\u4f86\u5404\u7a2e\u6c23\u5019\u8def\u5f91\u7684\u5f71\u97ff\uff1b\u4e8c\u3001\u9577\u671f\u9810\u6e2c\u6709\u6975\u5927\u7684\u4e0d\u78ba\u5b9a\u6027\uff1b\u4e09\u3001\u6c23\u5019\u6709\u5730\u57df\u548c\u7522\u696d\u5dee\u7570\uff0c\u56e0\u679c\u95dc\u4fc2\u5404\u6709\u4e0d\u540c\uff1b\u56db\u3001\u53ef\u518d\u751f\u80fd\u6e90\u7b49\u65b0\u6280\u8853\u7684\u51fa\u73fe\u8207\u751f\u6d3b\u65b9\u5f0f\u7684\u6539\u8b8a\u3002\u662f\u4ee5\u91d1\u878d\u696d\u5fc5\u9808\u904b\u7528\u5d84\u65b0\u7684\u5206\u6790\u65b9\u6cd5\uff0c\u91cd\u65b0\u601d\u8003\u6c23\u5019\u6578\u64da\u7684\u7ba1\u7406\u8207\u5206\u6790\u3001\u5546\u54c1\u7d44\u5408\u98a8\u96aa\u3001\u6c23\u5019\u98a8\u96aa\u60c5\u666f\u5047\u8a2d\u8207\u6c23\u5019\u98a8\u96aa\u58d3\u529b\u6e2c\u8a66\uff0c\u7d9c\u5408\u8a55\u4f30\u6c23\u5019\u8b8a\u5316\u7684\u885d\u64ca\uff0c\u5f9e\u800c\u638c\u63e1\u6f5b\u5728\u71df\u904b\u98a8\u96aa\uff0c\u76f8\u61c9\u8abf\u6574\u98a8\u96aa\u63a7\u5236\u8207\u71df\u904b\u7b56\u7565\u3002<\/p>\n<p>\u9762\u5c0d\u4f86\u52e2\u6d36\u6d36\u7684\u6c23\u5019\u8b8a\u5316\uff0c\u5168\u7403\u91d1\u878d\u696d\u9808\u5f9e\u98a8\u96aa\u7ba1\u7406\u7684\u89d2\u5ea6\u5236\u5b9a\u65b9\u91dd\uff0c\u65b9\u80fd\u5316\u5371\u70ba\u6a5f\u3002\u6b63\u7576\u5404\u5730\u7d93\u6fdf\u5f9e\u75ab\u60c5\u4e2d\u9678\u7e8c\u5fa9\u7526\uff0c\u73fe\u6642\u6b63\u662f\u63a8\u52d5\u7da0\u8272\u8f49\u578b\u7684\u95dc\u9375\u6642\u523b\u3002\u5404\u570b\u653f\u5e9c\u7684\u63d0\u632f\u7d93\u6fdf\u8a08\u5283\u4e0d\u59a8\u8207\u76f8\u95dc\u7da0\u8272\u8f49\u578b\u7d50\u5408\uff0c\u4ee5\u8ca0\u8cac\u4efb\u6295\u8cc7\u4f5c\u70ba\u5fa9\u7526\u57fa\u790e\uff0c\u4e26\u9032\u884c\u6709\u52a9\u7da0\u8272\u7d93\u6fdf\u767c\u5c55\u7684\u7d50\u69cb\u6027\u6539\u9769\u3002\u91d1\u878d\u696d\u5728\u63d0\u4f9b\u4fe1\u7528\u6d41\u52d5\u6027\u7684\u540c\u6642\uff0c\u4ea6\u61c9\u5584\u7528\u91d1\u878d\u8cc7\u6e90\uff0c\u5f15\u5c0e\u7522\u696d\u9081\u5411\u74b0\u5883\u3001\u793e\u6703\u53ca\u7ba1\u6cbb\uff08ESG\uff09\u548c\u6c38\u7e8c\u767c\u5c55\u3002<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>\u3010\u53c3\u8003\u6587\u737b\u3011<\/p>\n<p>Bank for International Settlements \uff082020\uff09, &#8220;The Green Swan: Central Banking and Financial Stability in the Age of Climate Change&#8221;.<\/p>\n<p>Bank for International Settlements \uff082020\uff09, &#8220;Green Swan 2 \u2013 Climate change and Covid-19: Reflections on Efficiency Versus Resilience&#8221;.<\/p>\n<p>Baldinger, M. \uff082020\uff09, &#8220;The parallels between Covid-19 and Climate Change&#8221;, UBS Report.<\/p>\n<p>Batten, S. \uff082018\uff09, &#8220;Climate Change and the Macro-economy: a Critical Review&#8221;, Working Paper No.706, Bank of England.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><span class=\"S1PPyQ\">\u8b1d\u570b\u751f\u535a\u58eb<\/span><br \/>\n<\/strong><strong><span class=\"S1PPyQ\">\u6e2f\u5927\u7d93\u7ba1\u5b78\u9662\u91d1\u878d\u5b78\u9996\u5e2d\u8b1b\u5e2b<\/span><\/strong><\/p>\n<p><strong>\u4f55\u654f\u6dd9\u5148\u751f<br \/>\n<\/strong><strong><span>\u9999\u6e2f\u5927\u5b78\u9644\u5c6c\u5b78\u9662\u8b1b\u5e2b<\/span><\/strong><\/p>\n<p>\uff08\u672c\u6587\u540c\u6642\u65bc\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516b\u6708\u4e09\u5341\u65e5\u8f09\u65bc\u300a\u4fe1\u5831\u300b\u300c\u9f8d\u864e\u5c71\u4e0b\u300d\u5c08\u6b04\uff09<\/p>\n<div>\n<p align=\"center\">\n<\/div>\n","protected":false},"featured_media":0,"template":"","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"tags":[],"class_list":["post-195810","thought-leadership","type-thought-leadership","status-publish","hentry","leadership-topic-categories-hkej-column-tc","in-the-media-topic-categories-faculty-tc"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"\u74b0\u9867\u4e16\u754c\u5404\u5730\uff0c\u6c23\u5019\u8b8a\u5316\u5c0e\u81f4\u81ea\u7136\u707d\u96e3\u983b\u751f\uff0c\u800c\u4e14\u7834\u58de\u529b\u6975\u5f37\uff0c\u885d\u64ca\u5404\u884c\u5404\u696d\uff0c\u5f71\u97ff\u7d93\u6fdf\u7a69\u5b9a\uff0c\u751a\u81f3\u5f15\u767c\u91d1\u878d\u5371\u6a5f\u3002 \u5927\u81ea\u7136\u8b66\u544a\u983b\u4ecd \u8fd110\u5e74\u4f86\uff0c\u5168\u7403\u7d93\u6fdf\u56e0\u6c23\u5019\u8b8a\u5316\u707d\u96e3\u800c\u8499\u53d7\u7684\u76f4\u63a5\u7d93\u6fdf\u640d\u5931\uff0c\u4f30\u8a08\u5e73\u5747\u6bcf\u5e74\u9ad8\u9054\u7d041.3\u842c\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u4e16\u754c\u672c\u5730\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u76840.2%\u5de6\u53f3\u30022018\u5e74\u52a0\u5dde\u68ee\u6797\u5927\u706b\u7684\u640d\u5931\u70ba3500\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u7576\u6642\u7f8e\u570bGDP\u76841.7%\u3002\u4e0a\u6708\u98b1\u98a8\u675c\u8607\u82ae\u76f4\u8972\u798f\u5efa\u7701\uff0c\u4ea6\u9020\u6210\u5343\u5104\u5143\u4eba\u6c11\u5e63\u7684\u640d\u5931\u3002 \u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54\u7684\u5c08\u5bb6Felix Suntheim\u548cJ\u00e9r\u00f4me Vandenbussche\u8a8d\u70ba\uff0c\u900f\u904e\u5728\u91d1\u878d\u9ad4\u7cfb\u4e2d\u767c\u63ee\u6838\u5fc3\u4f5c\u7528\u7684\u80a1\u7968\u5e02\u5834\uff0c\u53ef\u5206\u6790\u6c23\u5019\u8b8a\u5316\u5c0d\u91d1\u878d\u7a69\u5b9a\u7684\u5f71\u97ff\u3002\u904e\u53bb50\u5e74\u5167\u7d04350\u6b21\u5927\u898f\u6a21\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u4e2d\uff0c\u670910%\u5c0d\u7e3d\u9ad4\u5e02\u5834\u7684\u5f71\u97ff\u8d85\u904e14%\u3002\u4f8b\u59822011\u5e74\uff0c\u6cf0\u570b\u6c34\u707d\u5f15\u767c\u8a72\u570b\u80a1\u5e02\u572840\u5929\u5167\u5927\u8dcc30%\u3002 \u5929\u9d5d\u98a8\u96aa\u518d\u73fe 2020\u5e74\u570b\u969b\u6e05\u7b97\u9280\u884c\u767c\u8868\u300c\u7da0\u5929\u9d5d\u300d\u5831\u544a\uff0c\u6307\u51fa\u6c23\u5019\u8b8a\u5316\u52e2\u5c07\u6210\u70ba\u885d\u64ca\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u91cd\u8981\u98a8\u96aa\u3002\u7f8e\u570b\u7cbe\u7b97\u5e2b\u5b78\u6703\uff08Society of Actuaries\uff09\u6700\u8fd1\u671f\u767c\u8868\u7684\u65b0\u8208\u98a8\u96aa\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6c23\u5019\u98a8\u96aa\u75312019\u81f32022\u5e74\u671f\u9593\uff0c\u9023\u7e8c4\u5e74\u88ab\u8996\u70ba\u4e3b\u8981\u98a8\u96aa\u4e4b\u4e00\uff0c\u53ef\u5206\u70ba\u300c\u5be6\u9ad4\u300d\u8207\u300c\u8f49\u578b\u300d\u5169\u7a2e\u3002\u5be6\u9ad4\u98a8\u96aa\u662f\u6307\u6975\u7aef\u6c23\u5019\u9020\u6210\u751f\u547d\u8ca1\u7522\u640d\u5931\uff0c\u4f01\u696d\u6210\u672c\u589e\u52a0\u800c\u5229\u6f64\u6e1b\u5c11\uff0c\u589e\u52a0\u91d1\u878d\u696d\u904b\u4f5c\u7684\u6210\u672c\u8207\u98a8\u96aa\u3002\u8f49\u578b\u98a8\u96aa\u5247\u6307\u70ba\u4e86\u6e1b\u7de9\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u7684\u885d\u64ca\uff0c\u5404\u570b\u653f\u5e9c\u5be6\u65bd\u6e1b\u78b3\u653f\u7b56\uff0c\u5c07\u6703\u7a92\u7919\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u7d93\u71df\u3002\u5728\u4f01\u696d\u8cb8\u6b3e\u5408\u7d04\u4e2d\uff0c\u9ad8\u78b3\u6392\u653e\u6a5f\u5668\u8a2d\u5099\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u50f9\u503c\u5c07\u6703\u4e0b\u964d\uff0c\u800c\u63d0\u9ad8\u4fe1\u7528\u98a8\u96aa\uff1b\u8cb8\u6b3e\u7d66\u9019\u4e9b\u7522\u696d\u7684\u9280\u884c\u81ea\u7136\u9996\u7576\u5176\u885d\u3002 2017\u5e74\u6210\u7acb\u7684\u300c\u592e\u884c\u8207\u76e3\u7ba1\u6a5f\u69cb\u7da0\u8272\u91d1\u878d\u7db2\u7d61\u300d\uff08Network for Greening the Financial System\uff1b\u7c21\u7a31NGFS\uff09\uff0c\u5728\u51762020\u5e74\u7684\u5831\u544a\u4e2d\u6307\u51fa\uff0c\u82e5\u5168\u7403\u6696\u5316\u5931\u63a7\uff0c\u9810\u8a082100\u5e74\u5be6\u9ad4\u98a8\u96aa\u5c0dGDP\u7684\u640d\u5931\u6bd4\u7387\u5c07\u7d2f\u8a08\u905425%\u3002\u6b64\u5916\u9084\u6709\u8a31\u591a\u5be6\u9ad4\u98a8\u96aa\u7121\u6cd5\u7d0d\u5165\u8a55\u4f30\uff0c\u81f3\u65bc\u6d77\u5e73\u9762\u4e0a\u5347\u3001\u5929\u707d\u9020\u6210\u4eba\u53e3\u9077\u5f99\u3001\u5340\u57df\u885d\u7a81\u7b49\u9020\u6210\u7684\u640d\u5931\uff0c\u66f4\u5c1a\u672a\u7d0d\u5165\u8a08\u7b97\u4e4b\u4e2d\u3002\u99ac\u723e\u4ee3\u592b\u7b49\u5cf6\u570b\u7531\u65bc\u5883\u516780%\u7684\u9678\u5730\u9762\u7a4d\u6d77\u62d4\u9ad8\u5ea6\u4e0d\u52301\u7c73\uff0c\u56e0\u6b64\u96a8\u7740\u6d77\u5e73\u9762\u4e0a\u5347\uff0c\u4f30\u8a08\u6216\u6703\u57282100\u5e74\u4e4b\u5f8c\u5b8c\u5168\u9678\u6c89\u3002\u5168\u7403\u6696\u5316\u4ea6\u5f71\u97ff\u7ce7\u98df\u751f\u7522\uff0c\u82e5\u6c23\u6eab\u589e\u52a0\u651d\u6c0f2\u5ea6\uff0c\u71b1\u5e36\u5730\u5340\u5c0f\u9ea5\u6216\u6703\u6e1b\u752220%\u3002 \u6b0a\u8861\u98a8\u96aa\u8f15\u91cd \u7f8e\u570b\u91d1\u878d\u4f01\u696dMSCI\u57282021\u5e74\u57fa\u65bc\u4e0d\u540c\u60c5\u666f\u4e0b\uff0c\u8a55\u4f30\u7522\u696d\u53d7\u8f49\u578b\u98a8\u96aa\u885d\u64ca\u7684\u7a0b\u5ea6\u3002\u4f8b\u5982\u7576\u6eab\u5ea6\u589e\u9577\u53ef\u63a7\u5236\u5728\u651d\u6c0f1.5\u5ea6\uff0c\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u8f49\u578b\u98a8\u96aa\u8f03\u5927\uff0c\u6b50\u6d32\u7684\u80fd\u6e90\u516c\u53f8\u8cc7\u7522\u50f9\u503c\u5e73\u5747\u5c07\u5927\u6e1b67%\uff0c\u5275\u65b0\u7684\u4f4e\u78b3\u6280\u8853\u7522\u696d\u5247\u6703\u589e\u52a018%\u6536\u5165\u3002\u81f3\u65bc\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u96d6\u7136\u4e5f\u5c07\u8dcc\u8fd1\u516d\u6210\uff0c\u4f46\u4f4e\u78b3\u6280\u8853\u4ea6\u5c07\u70ba\u5176\u589e\u52a0\u56db\u6210\u6536\u5165\u3002 \u82e5\u6eab\u5ea6\u589e\u9577\u651d\u6c0f3\u5ea6\uff0c\u5404\u570b\u653f\u5e9c\u7684\u6e1b\u78b3\u653f\u7b56\u6216\u6703\u8f49\u8da8\u6d88\u6975\uff0c\u8f49\u578b\u98a8\u96aa\u5c0d\u5404\u7522\u696d\u8cc7\u7522\u50f9\u503c\u9020\u6210\u7684\u640d\u5931\u4fbf\u6703\u8f03\u5c0f\uff1b\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u5c07\u6e1b\u5c11\u7d04\u5169\u6210\uff0c\u537b\u56e0\u6e1b\u78b3\u8a98\u56e0\u4e0d\u8db3\uff0c\u5275\u65b0\u79d1\u6280\u5e36\u4f86\u7684\u65b0\u6536\u5165\u4e5f\u5c07\u5927\u5e45\u7e2e\u6e1b\u3002\u4ee5\u4e0a\u6578\u64da\u986f\u793a\uff0c\u8f49\u578b\u98a8\u96aa\u8207\u5be6\u9ad4\u98a8\u96aa\u662f\u7ff9\u7ff9\u677f\u7684\u5169\u7aef\uff0c\u70ba\u8ff4\u907f\u8f49\u578b\u98a8\u96aa\u800c\u4e0d\u9858\u7a4d\u6975\u6e1b\u78b3\uff0c\u96e3\u514d\u52a0\u5287\u5be6\u9ad4\u98a8\u96aa\u3002 \u65b0\u51a0\u80ba\u708e\u5927\u6d41\u884c\u4fc3\u4f7f\u91d1\u878d\u696d\u754c\u91cd\u65b0\u8a55\u4f30\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u4ee3\u50f9\u3002\u6839\u64da\u67cf\u541b\u54f2\uff08Michael Baldinger\uff092020\u5e74\u7684\u5206\u6790\uff0c\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6709\u4e09\u5927\u5171\u901a\u9ede\u3002\u7b2c\u4e00\uff0c\u65b0\u51a0\u80ba\u708e\u662f\u4e00\u5834\u53f2\u7121\u524d\u4f8b\u7684\u516c\u5171\u885b\u751f\u707d\u96e3\uff0c\u4e16\u754c\u5404\u570b\u56e0\u672a\u80fd\u53ca\u65e9\u9632\u7bc4\u800c\u5099\u53d7\u91cd\u5275\uff1b\u9762\u5c0d\u6c23\u5019\u8b8a\u9077\uff0c\u4ea6\u9808\u5f15\u4ee5\u70ba\u9451\u3002\u7b2c\u4e8c\uff0c\u75ab\u60c5\u7a81\u986f\u5728\u5168\u7403\u5316\u4e0b\uff0c\u8907\u96dc\u7684\u4f9b\u61c9\u93c8\u9762\u5c0d\u707d\u96e3\u6642\u5982\u4f55\u4e0d\u582a\u4e00\u64ca\uff1b\u6c23\u5019\u8b8a\u5316\u6240\u80fd\u7522\u751f\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u540c\u6a23\u8db3\u4ee5\u7671\u7613\u4e16\u754c\u7d93\u6fdf\u3002\u7b2c\u4e09\uff0c\u65b0\u51a0\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6240\u9020\u6210\u7684\u885d\u64ca\u96d6\u6709\u7de9\u6025\u4e4b\u5225\uff0c\u4f46\u82e5\u6709\u95dc\u7576\u5c40\u61c9\u5c0d\u75ab\u60c5\u4e0d\u529b\uff0c\u4ee5\u81f4\u6c23\u5019\u98a8\u96aa\u5931\u63a7\uff0c\u5f8c\u679c\u4e0d\u582a\u8a2d\u60f3\u3002 \u6a21\u64ec\u5f0f\u58d3\u529b\u6e2c\u8a66 \u6839\u64da\u570b\u969b\u6e05\u7b97\u9280\u884c\u7684\u7814\u7a76\uff0c\u4e0b\u4e00\u500b\u7cfb\u7d71\u6027\u91d1\u878d\u98a8\u96aa\u53ef\u80fd\u6e90\u81ea\u6c23\u5019\u885d\u64ca\uff0c\u56e0\u6b64\u76e3\u7ba1\u6a5f\u95dc\u6709\u8cac\u4efb\u8981\u6c42\u91d1\u878d\u6a5f\u69cb\u8a55\u4f30\u4e26\u63ed\u9732\u5176\u6c23\u5019\u98a8\u96aa\u3002\u70ba\u6b64\uff0c\u6cd5\u3001\u82f1\u5169\u570b\u7684\u4e2d\u592e\u9280\u884c\u57282021\u5e74\u7387\u5148\u5c0d\u672c\u570b\u7684\u91d1\u878d\u6a5f\u69cb\u548c\u7cfb\u7d71\u555f\u52d5\u6c23\u5019\u8b8a\u5316\u58d3\u529b\u6e2c\u8a66\uff1b\u6b50\u6d32\u5404\u570b\u7684\u6709\u95dc\u6e2c\u8a66\u5247\u57282022\u5e74\u5c55\u958b\u3002\u81f3\u65bc\u7f8e\u570b\uff0c\u806f\u90a6\u5132\u5099\u5c40\u4ea6\u65bc\u8fd1\u5e74\u6210\u7acb\u4e86\u76f8\u95dc\u59d4\u54e1\u6703\uff0c\u64ec\u65bc2023\u81f32025\u5e74\u8981\u6c42\u91d1\u878d\u754c\u5c07\u6c23\u5019\u8b8a\u5316\u7d0d\u5165\u58d3\u529b\u6e2c\u8a66\u3002\u65e5\u672c\u592e\u884c\u5247\u63a8\u51fa\u65b0\u7684\u8cb8\u6b3e\u5de5\u5177\uff0c\u63d0\u4f9b\u8cc7\u91d1\u652f\u6301\u6c23\u5019\u8b8a\u5316\u7684\u9805\u76ee\u3002 \u91d1\u878d\u6c23\u5019\u58d3\u529b\u6e2c\u8a66\u5be6\u6709\u52a9\u65bc\u91d1\u878d\u6a5f\u69cb\u638c\u63e1\u5728\u6975\u7aef\u6c23\u5019\u4e0b\uff0c\u5176\u8cc7\u7522\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002\u4f8b\u5982\u82f1\u502b\u9280\u884c\u4e00\u4efd\u5831\u544a\u63d0\u53ca\uff0c\u5168\u82f1\u570b\u7684\u623f\u8cb8\u7269\u696d\u7d04\u670910%\u8655\u65bc\u5bb9\u6613\u6c34\u6d78\u5340\u57df\uff0c\u56e0\u6b64\u5efa\u8b70\u5404\u9280\u884c\u67e5\u627e\u623f\u8cb8\u62b5\u62bc\u54c1\u4f4d\u65bc\u6c34\u6d78\u5340\u7684\u6bd4\u4f8b\uff0c\u518d\u6309\u707d\u60c5\u4e0d\u540c\u7a0b\u5ea6\u9810\u8a08\u6240\u6d89\u640d\u5931\u3002 \u7f8e\u570b\u9280\u884c\u5247\u4ee55\u7d1a\u98b6\u98a8\u4f86\u6a21\u64ec\u5176\u623f\u5730\u7522\u62b5\u62bc\u54c1\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002 \u5168\u65b9\u4f4d\u61c9\u5c0d\u7b56\u7565 \u4e8b\u5be6\u4e0a\uff0c\u76ee\u524d\u4e0d\u4e4f\u6df1\u5165\u63a2\u8a0e\u6c23\u5019\u8b8a\u5316\u5c0d\u8ca8\u5e63\u653f\u7b56\u5f71\u97ff\u7684\u7814\u7a76\u3002\u82f1\u502b\u9280\u884c\u7684\u5df4\u6ed5\uff08Sandra Batten\uff09\u8a8d\u70ba\uff0c\u6c23\u5019\u8b8a\u5316\u5c07\u589e\u52a0\u901a\u8ca8\u81a8\u8139\u53ca\u7d93\u6fdf\u589e\u9577\u9810\u6e2c\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5f71\u97ff\u592e\u884c\u9054\u6210\u8ca8\u5e63\u7a69\u5b9a\u7684\u76ee\u6a19\u653f\u7b56\u3002NGFS\u7684\u7814\u7a76\u767c\u73fe\uff0c\u6975\u7aef\u6c23\u5019\u4e8b\u4ef6\u767c\u751f\u7684\u983b\u7387\u8207\u5f37\u5ea6\u589e\u52a0\uff0c\u5c07\u64f4\u5927\u901a\u8ca8\u81a8\u8139\u548c\u91d1\u878d\u5e02\u5834\u50f9\u683c\u7684\u6ce2\u52d5\u6027\uff0c\u524a\u5f31\u8ca8\u5e63\u653f\u7b56\u7684\u57f7\u884c\u6548\u679c\uff0c\u56e0\u800c\u5efa\u8b70\u628a\u6c23\u5019\u8b8a\u5316\u98a8\u96aa\u7d0d\u5165\u592e\u884c\u8ca8\u5e63\u653f\u7b56\uff0c\u6b64\u8209\u662f\u5426\u9069\u7576\uff0c\u5404\u754c\u81f3\u4eca\u672a\u6709\u5b9a\u8ad6\u3002\u9451\u65bc\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u5de5\u5177\u6709\u9650\uff0c\u96e3\u4ee5\u5145\u5206\u8986\u84cb\u4f4e\u78b3\u8f49\u578b\u98a8\u96aa\uff1b\u53cd\u89c0\u8ca1\u653f\u653f\u7b56\u548c\u91d1\u878d\u76e3\u7ba1\uff0c\u56e0\u5177\u5099\u8f03\u591a\u800c\u5bcc\u5f48\u6027\u7684\u653f\u7b56\u5de5\u5177\uff0c\u76f8\u4fe1\u66f4\u53ef\u767c\u63ee\u61c9\u5c0d\u6c23\u5019\u8b8a\u5316\u4e4b\u6548\u3002 \u82e5\u8981\u6e96\u78ba\u8861\u91cf\u6c23\u5019\u8b8a\u5316\u6240\u5e36\u4f86\u7684\u91d1\u878d\u98a8\u96aa\uff0c\u91d1\u878d\u696d\u5c07\u9762\u81e84\u9805\u6311\u6230\uff1a\u4e00\u3001\u5206\u6790\u6578\u5341\u5e74\u4f86\u5404\u7a2e\u6c23\u5019\u8def\u5f91\u7684\u5f71\u97ff\uff1b\u4e8c\u3001\u9577\u671f\u9810\u6e2c\u6709\u6975\u5927\u7684\u4e0d\u78ba\u5b9a\u6027\uff1b\u4e09\u3001\u6c23\u5019\u6709\u5730\u57df\u548c\u7522\u696d\u5dee\u7570\uff0c\u56e0\u679c\u95dc\u4fc2\u5404\u6709\u4e0d\u540c\uff1b\u56db\u3001\u53ef\u518d\u751f\u80fd\u6e90\u7b49\u65b0\u6280\u8853\u7684\u51fa\u73fe\u8207\u751f\u6d3b\u65b9\u5f0f\u7684\u6539\u8b8a\u3002\u662f\u4ee5\u91d1\u878d\u696d\u5fc5\u9808\u904b\u7528\u5d84\u65b0\u7684\u5206\u6790\u65b9\u6cd5\uff0c\u91cd\u65b0\u601d\u8003\u6c23\u5019\u6578\u64da\u7684\u7ba1\u7406\u8207\u5206\u6790\u3001\u5546\u54c1\u7d44\u5408\u98a8\u96aa\u3001\u6c23\u5019\u98a8\u96aa\u60c5\u666f\u5047\u8a2d\u8207\u6c23\u5019\u98a8\u96aa\u58d3\u529b\u6e2c\u8a66\uff0c\u7d9c\u5408\u8a55\u4f30\u6c23\u5019\u8b8a\u5316\u7684\u885d\u64ca\uff0c\u5f9e\u800c\u638c\u63e1\u6f5b\u5728\u71df\u904b\u98a8\u96aa\uff0c\u76f8\u61c9\u8abf\u6574\u98a8\u96aa\u63a7\u5236\u8207\u71df\u904b\u7b56\u7565\u3002 \u9762\u5c0d\u4f86\u52e2\u6d36\u6d36\u7684\u6c23\u5019\u8b8a\u5316\uff0c\u5168\u7403\u91d1\u878d\u696d\u9808\u5f9e\u98a8\u96aa\u7ba1\u7406\u7684\u89d2\u5ea6\u5236\u5b9a\u65b9\u91dd\uff0c\u65b9\u80fd\u5316\u5371\u70ba\u6a5f\u3002\u6b63\u7576\u5404\u5730\u7d93\u6fdf\u5f9e\u75ab\u60c5\u4e2d\u9678\u7e8c\u5fa9\u7526\uff0c\u73fe\u6642\u6b63\u662f\u63a8\u52d5\u7da0\u8272\u8f49\u578b\u7684\u95dc\u9375\u6642\u523b\u3002\u5404\u570b\u653f\u5e9c\u7684\u63d0\u632f\u7d93\u6fdf\u8a08\u5283\u4e0d\u59a8\u8207\u76f8\u95dc\u7da0\u8272\u8f49\u578b\u7d50\u5408\uff0c\u4ee5\u8ca0\u8cac\u4efb\u6295\u8cc7\u4f5c\u70ba\u5fa9\u7526\u57fa\u790e\uff0c\u4e26\u9032\u884c\u6709\u52a9\u7da0\u8272\u7d93\u6fdf\u767c\u5c55\u7684\u7d50\u69cb\u6027\u6539\u9769\u3002\u91d1\u878d\u696d\u5728\u63d0\u4f9b\u4fe1\u7528\u6d41\u52d5\u6027\u7684\u540c\u6642\uff0c\u4ea6\u61c9\u5584\u7528\u91d1\u878d\u8cc7\u6e90\uff0c\u5f15\u5c0e\u7522\u696d\u9081\u5411\u74b0\u5883\u3001\u793e\u6703\u53ca\u7ba1\u6cbb\uff08ESG\uff09\u548c\u6c38\u7e8c\u767c\u5c55\u3002 \u3010\u53c3\u8003\u6587\u737b\u3011 Bank for International Settlements \uff082020\uff09, &quot;The Green Swan: Central Banking and Financial Stability in the Age of Climate Change&quot;. Bank for International Settlements\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"google-site-verification\" content=\"google-site-verification=MjdkluDgHpNk2vz5slbwER2Gusw2rUDQuVULMERWzLo\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.10\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"HKU Business School -\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40 - HKU Business School\" \/>\n\t\t<meta property=\"og:description\" content=\"\u74b0\u9867\u4e16\u754c\u5404\u5730\uff0c\u6c23\u5019\u8b8a\u5316\u5c0e\u81f4\u81ea\u7136\u707d\u96e3\u983b\u751f\uff0c\u800c\u4e14\u7834\u58de\u529b\u6975\u5f37\uff0c\u885d\u64ca\u5404\u884c\u5404\u696d\uff0c\u5f71\u97ff\u7d93\u6fdf\u7a69\u5b9a\uff0c\u751a\u81f3\u5f15\u767c\u91d1\u878d\u5371\u6a5f\u3002 \u5927\u81ea\u7136\u8b66\u544a\u983b\u4ecd \u8fd110\u5e74\u4f86\uff0c\u5168\u7403\u7d93\u6fdf\u56e0\u6c23\u5019\u8b8a\u5316\u707d\u96e3\u800c\u8499\u53d7\u7684\u76f4\u63a5\u7d93\u6fdf\u640d\u5931\uff0c\u4f30\u8a08\u5e73\u5747\u6bcf\u5e74\u9ad8\u9054\u7d041.3\u842c\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u4e16\u754c\u672c\u5730\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u76840.2%\u5de6\u53f3\u30022018\u5e74\u52a0\u5dde\u68ee\u6797\u5927\u706b\u7684\u640d\u5931\u70ba3500\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u7576\u6642\u7f8e\u570bGDP\u76841.7%\u3002\u4e0a\u6708\u98b1\u98a8\u675c\u8607\u82ae\u76f4\u8972\u798f\u5efa\u7701\uff0c\u4ea6\u9020\u6210\u5343\u5104\u5143\u4eba\u6c11\u5e63\u7684\u640d\u5931\u3002 \u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54\u7684\u5c08\u5bb6Felix Suntheim\u548cJ\u00e9r\u00f4me Vandenbussche\u8a8d\u70ba\uff0c\u900f\u904e\u5728\u91d1\u878d\u9ad4\u7cfb\u4e2d\u767c\u63ee\u6838\u5fc3\u4f5c\u7528\u7684\u80a1\u7968\u5e02\u5834\uff0c\u53ef\u5206\u6790\u6c23\u5019\u8b8a\u5316\u5c0d\u91d1\u878d\u7a69\u5b9a\u7684\u5f71\u97ff\u3002\u904e\u53bb50\u5e74\u5167\u7d04350\u6b21\u5927\u898f\u6a21\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u4e2d\uff0c\u670910%\u5c0d\u7e3d\u9ad4\u5e02\u5834\u7684\u5f71\u97ff\u8d85\u904e14%\u3002\u4f8b\u59822011\u5e74\uff0c\u6cf0\u570b\u6c34\u707d\u5f15\u767c\u8a72\u570b\u80a1\u5e02\u572840\u5929\u5167\u5927\u8dcc30%\u3002 \u5929\u9d5d\u98a8\u96aa\u518d\u73fe 2020\u5e74\u570b\u969b\u6e05\u7b97\u9280\u884c\u767c\u8868\u300c\u7da0\u5929\u9d5d\u300d\u5831\u544a\uff0c\u6307\u51fa\u6c23\u5019\u8b8a\u5316\u52e2\u5c07\u6210\u70ba\u885d\u64ca\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u91cd\u8981\u98a8\u96aa\u3002\u7f8e\u570b\u7cbe\u7b97\u5e2b\u5b78\u6703\uff08Society of Actuaries\uff09\u6700\u8fd1\u671f\u767c\u8868\u7684\u65b0\u8208\u98a8\u96aa\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6c23\u5019\u98a8\u96aa\u75312019\u81f32022\u5e74\u671f\u9593\uff0c\u9023\u7e8c4\u5e74\u88ab\u8996\u70ba\u4e3b\u8981\u98a8\u96aa\u4e4b\u4e00\uff0c\u53ef\u5206\u70ba\u300c\u5be6\u9ad4\u300d\u8207\u300c\u8f49\u578b\u300d\u5169\u7a2e\u3002\u5be6\u9ad4\u98a8\u96aa\u662f\u6307\u6975\u7aef\u6c23\u5019\u9020\u6210\u751f\u547d\u8ca1\u7522\u640d\u5931\uff0c\u4f01\u696d\u6210\u672c\u589e\u52a0\u800c\u5229\u6f64\u6e1b\u5c11\uff0c\u589e\u52a0\u91d1\u878d\u696d\u904b\u4f5c\u7684\u6210\u672c\u8207\u98a8\u96aa\u3002\u8f49\u578b\u98a8\u96aa\u5247\u6307\u70ba\u4e86\u6e1b\u7de9\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u7684\u885d\u64ca\uff0c\u5404\u570b\u653f\u5e9c\u5be6\u65bd\u6e1b\u78b3\u653f\u7b56\uff0c\u5c07\u6703\u7a92\u7919\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u7d93\u71df\u3002\u5728\u4f01\u696d\u8cb8\u6b3e\u5408\u7d04\u4e2d\uff0c\u9ad8\u78b3\u6392\u653e\u6a5f\u5668\u8a2d\u5099\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u50f9\u503c\u5c07\u6703\u4e0b\u964d\uff0c\u800c\u63d0\u9ad8\u4fe1\u7528\u98a8\u96aa\uff1b\u8cb8\u6b3e\u7d66\u9019\u4e9b\u7522\u696d\u7684\u9280\u884c\u81ea\u7136\u9996\u7576\u5176\u885d\u3002 2017\u5e74\u6210\u7acb\u7684\u300c\u592e\u884c\u8207\u76e3\u7ba1\u6a5f\u69cb\u7da0\u8272\u91d1\u878d\u7db2\u7d61\u300d\uff08Network for Greening the Financial System\uff1b\u7c21\u7a31NGFS\uff09\uff0c\u5728\u51762020\u5e74\u7684\u5831\u544a\u4e2d\u6307\u51fa\uff0c\u82e5\u5168\u7403\u6696\u5316\u5931\u63a7\uff0c\u9810\u8a082100\u5e74\u5be6\u9ad4\u98a8\u96aa\u5c0dGDP\u7684\u640d\u5931\u6bd4\u7387\u5c07\u7d2f\u8a08\u905425%\u3002\u6b64\u5916\u9084\u6709\u8a31\u591a\u5be6\u9ad4\u98a8\u96aa\u7121\u6cd5\u7d0d\u5165\u8a55\u4f30\uff0c\u81f3\u65bc\u6d77\u5e73\u9762\u4e0a\u5347\u3001\u5929\u707d\u9020\u6210\u4eba\u53e3\u9077\u5f99\u3001\u5340\u57df\u885d\u7a81\u7b49\u9020\u6210\u7684\u640d\u5931\uff0c\u66f4\u5c1a\u672a\u7d0d\u5165\u8a08\u7b97\u4e4b\u4e2d\u3002\u99ac\u723e\u4ee3\u592b\u7b49\u5cf6\u570b\u7531\u65bc\u5883\u516780%\u7684\u9678\u5730\u9762\u7a4d\u6d77\u62d4\u9ad8\u5ea6\u4e0d\u52301\u7c73\uff0c\u56e0\u6b64\u96a8\u7740\u6d77\u5e73\u9762\u4e0a\u5347\uff0c\u4f30\u8a08\u6216\u6703\u57282100\u5e74\u4e4b\u5f8c\u5b8c\u5168\u9678\u6c89\u3002\u5168\u7403\u6696\u5316\u4ea6\u5f71\u97ff\u7ce7\u98df\u751f\u7522\uff0c\u82e5\u6c23\u6eab\u589e\u52a0\u651d\u6c0f2\u5ea6\uff0c\u71b1\u5e36\u5730\u5340\u5c0f\u9ea5\u6216\u6703\u6e1b\u752220%\u3002 \u6b0a\u8861\u98a8\u96aa\u8f15\u91cd \u7f8e\u570b\u91d1\u878d\u4f01\u696dMSCI\u57282021\u5e74\u57fa\u65bc\u4e0d\u540c\u60c5\u666f\u4e0b\uff0c\u8a55\u4f30\u7522\u696d\u53d7\u8f49\u578b\u98a8\u96aa\u885d\u64ca\u7684\u7a0b\u5ea6\u3002\u4f8b\u5982\u7576\u6eab\u5ea6\u589e\u9577\u53ef\u63a7\u5236\u5728\u651d\u6c0f1.5\u5ea6\uff0c\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u8f49\u578b\u98a8\u96aa\u8f03\u5927\uff0c\u6b50\u6d32\u7684\u80fd\u6e90\u516c\u53f8\u8cc7\u7522\u50f9\u503c\u5e73\u5747\u5c07\u5927\u6e1b67%\uff0c\u5275\u65b0\u7684\u4f4e\u78b3\u6280\u8853\u7522\u696d\u5247\u6703\u589e\u52a018%\u6536\u5165\u3002\u81f3\u65bc\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u96d6\u7136\u4e5f\u5c07\u8dcc\u8fd1\u516d\u6210\uff0c\u4f46\u4f4e\u78b3\u6280\u8853\u4ea6\u5c07\u70ba\u5176\u589e\u52a0\u56db\u6210\u6536\u5165\u3002 \u82e5\u6eab\u5ea6\u589e\u9577\u651d\u6c0f3\u5ea6\uff0c\u5404\u570b\u653f\u5e9c\u7684\u6e1b\u78b3\u653f\u7b56\u6216\u6703\u8f49\u8da8\u6d88\u6975\uff0c\u8f49\u578b\u98a8\u96aa\u5c0d\u5404\u7522\u696d\u8cc7\u7522\u50f9\u503c\u9020\u6210\u7684\u640d\u5931\u4fbf\u6703\u8f03\u5c0f\uff1b\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u5c07\u6e1b\u5c11\u7d04\u5169\u6210\uff0c\u537b\u56e0\u6e1b\u78b3\u8a98\u56e0\u4e0d\u8db3\uff0c\u5275\u65b0\u79d1\u6280\u5e36\u4f86\u7684\u65b0\u6536\u5165\u4e5f\u5c07\u5927\u5e45\u7e2e\u6e1b\u3002\u4ee5\u4e0a\u6578\u64da\u986f\u793a\uff0c\u8f49\u578b\u98a8\u96aa\u8207\u5be6\u9ad4\u98a8\u96aa\u662f\u7ff9\u7ff9\u677f\u7684\u5169\u7aef\uff0c\u70ba\u8ff4\u907f\u8f49\u578b\u98a8\u96aa\u800c\u4e0d\u9858\u7a4d\u6975\u6e1b\u78b3\uff0c\u96e3\u514d\u52a0\u5287\u5be6\u9ad4\u98a8\u96aa\u3002 \u65b0\u51a0\u80ba\u708e\u5927\u6d41\u884c\u4fc3\u4f7f\u91d1\u878d\u696d\u754c\u91cd\u65b0\u8a55\u4f30\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u4ee3\u50f9\u3002\u6839\u64da\u67cf\u541b\u54f2\uff08Michael Baldinger\uff092020\u5e74\u7684\u5206\u6790\uff0c\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6709\u4e09\u5927\u5171\u901a\u9ede\u3002\u7b2c\u4e00\uff0c\u65b0\u51a0\u80ba\u708e\u662f\u4e00\u5834\u53f2\u7121\u524d\u4f8b\u7684\u516c\u5171\u885b\u751f\u707d\u96e3\uff0c\u4e16\u754c\u5404\u570b\u56e0\u672a\u80fd\u53ca\u65e9\u9632\u7bc4\u800c\u5099\u53d7\u91cd\u5275\uff1b\u9762\u5c0d\u6c23\u5019\u8b8a\u9077\uff0c\u4ea6\u9808\u5f15\u4ee5\u70ba\u9451\u3002\u7b2c\u4e8c\uff0c\u75ab\u60c5\u7a81\u986f\u5728\u5168\u7403\u5316\u4e0b\uff0c\u8907\u96dc\u7684\u4f9b\u61c9\u93c8\u9762\u5c0d\u707d\u96e3\u6642\u5982\u4f55\u4e0d\u582a\u4e00\u64ca\uff1b\u6c23\u5019\u8b8a\u5316\u6240\u80fd\u7522\u751f\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u540c\u6a23\u8db3\u4ee5\u7671\u7613\u4e16\u754c\u7d93\u6fdf\u3002\u7b2c\u4e09\uff0c\u65b0\u51a0\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6240\u9020\u6210\u7684\u885d\u64ca\u96d6\u6709\u7de9\u6025\u4e4b\u5225\uff0c\u4f46\u82e5\u6709\u95dc\u7576\u5c40\u61c9\u5c0d\u75ab\u60c5\u4e0d\u529b\uff0c\u4ee5\u81f4\u6c23\u5019\u98a8\u96aa\u5931\u63a7\uff0c\u5f8c\u679c\u4e0d\u582a\u8a2d\u60f3\u3002 \u6a21\u64ec\u5f0f\u58d3\u529b\u6e2c\u8a66 \u6839\u64da\u570b\u969b\u6e05\u7b97\u9280\u884c\u7684\u7814\u7a76\uff0c\u4e0b\u4e00\u500b\u7cfb\u7d71\u6027\u91d1\u878d\u98a8\u96aa\u53ef\u80fd\u6e90\u81ea\u6c23\u5019\u885d\u64ca\uff0c\u56e0\u6b64\u76e3\u7ba1\u6a5f\u95dc\u6709\u8cac\u4efb\u8981\u6c42\u91d1\u878d\u6a5f\u69cb\u8a55\u4f30\u4e26\u63ed\u9732\u5176\u6c23\u5019\u98a8\u96aa\u3002\u70ba\u6b64\uff0c\u6cd5\u3001\u82f1\u5169\u570b\u7684\u4e2d\u592e\u9280\u884c\u57282021\u5e74\u7387\u5148\u5c0d\u672c\u570b\u7684\u91d1\u878d\u6a5f\u69cb\u548c\u7cfb\u7d71\u555f\u52d5\u6c23\u5019\u8b8a\u5316\u58d3\u529b\u6e2c\u8a66\uff1b\u6b50\u6d32\u5404\u570b\u7684\u6709\u95dc\u6e2c\u8a66\u5247\u57282022\u5e74\u5c55\u958b\u3002\u81f3\u65bc\u7f8e\u570b\uff0c\u806f\u90a6\u5132\u5099\u5c40\u4ea6\u65bc\u8fd1\u5e74\u6210\u7acb\u4e86\u76f8\u95dc\u59d4\u54e1\u6703\uff0c\u64ec\u65bc2023\u81f32025\u5e74\u8981\u6c42\u91d1\u878d\u754c\u5c07\u6c23\u5019\u8b8a\u5316\u7d0d\u5165\u58d3\u529b\u6e2c\u8a66\u3002\u65e5\u672c\u592e\u884c\u5247\u63a8\u51fa\u65b0\u7684\u8cb8\u6b3e\u5de5\u5177\uff0c\u63d0\u4f9b\u8cc7\u91d1\u652f\u6301\u6c23\u5019\u8b8a\u5316\u7684\u9805\u76ee\u3002 \u91d1\u878d\u6c23\u5019\u58d3\u529b\u6e2c\u8a66\u5be6\u6709\u52a9\u65bc\u91d1\u878d\u6a5f\u69cb\u638c\u63e1\u5728\u6975\u7aef\u6c23\u5019\u4e0b\uff0c\u5176\u8cc7\u7522\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002\u4f8b\u5982\u82f1\u502b\u9280\u884c\u4e00\u4efd\u5831\u544a\u63d0\u53ca\uff0c\u5168\u82f1\u570b\u7684\u623f\u8cb8\u7269\u696d\u7d04\u670910%\u8655\u65bc\u5bb9\u6613\u6c34\u6d78\u5340\u57df\uff0c\u56e0\u6b64\u5efa\u8b70\u5404\u9280\u884c\u67e5\u627e\u623f\u8cb8\u62b5\u62bc\u54c1\u4f4d\u65bc\u6c34\u6d78\u5340\u7684\u6bd4\u4f8b\uff0c\u518d\u6309\u707d\u60c5\u4e0d\u540c\u7a0b\u5ea6\u9810\u8a08\u6240\u6d89\u640d\u5931\u3002 \u7f8e\u570b\u9280\u884c\u5247\u4ee55\u7d1a\u98b6\u98a8\u4f86\u6a21\u64ec\u5176\u623f\u5730\u7522\u62b5\u62bc\u54c1\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002 \u5168\u65b9\u4f4d\u61c9\u5c0d\u7b56\u7565 \u4e8b\u5be6\u4e0a\uff0c\u76ee\u524d\u4e0d\u4e4f\u6df1\u5165\u63a2\u8a0e\u6c23\u5019\u8b8a\u5316\u5c0d\u8ca8\u5e63\u653f\u7b56\u5f71\u97ff\u7684\u7814\u7a76\u3002\u82f1\u502b\u9280\u884c\u7684\u5df4\u6ed5\uff08Sandra Batten\uff09\u8a8d\u70ba\uff0c\u6c23\u5019\u8b8a\u5316\u5c07\u589e\u52a0\u901a\u8ca8\u81a8\u8139\u53ca\u7d93\u6fdf\u589e\u9577\u9810\u6e2c\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5f71\u97ff\u592e\u884c\u9054\u6210\u8ca8\u5e63\u7a69\u5b9a\u7684\u76ee\u6a19\u653f\u7b56\u3002NGFS\u7684\u7814\u7a76\u767c\u73fe\uff0c\u6975\u7aef\u6c23\u5019\u4e8b\u4ef6\u767c\u751f\u7684\u983b\u7387\u8207\u5f37\u5ea6\u589e\u52a0\uff0c\u5c07\u64f4\u5927\u901a\u8ca8\u81a8\u8139\u548c\u91d1\u878d\u5e02\u5834\u50f9\u683c\u7684\u6ce2\u52d5\u6027\uff0c\u524a\u5f31\u8ca8\u5e63\u653f\u7b56\u7684\u57f7\u884c\u6548\u679c\uff0c\u56e0\u800c\u5efa\u8b70\u628a\u6c23\u5019\u8b8a\u5316\u98a8\u96aa\u7d0d\u5165\u592e\u884c\u8ca8\u5e63\u653f\u7b56\uff0c\u6b64\u8209\u662f\u5426\u9069\u7576\uff0c\u5404\u754c\u81f3\u4eca\u672a\u6709\u5b9a\u8ad6\u3002\u9451\u65bc\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u5de5\u5177\u6709\u9650\uff0c\u96e3\u4ee5\u5145\u5206\u8986\u84cb\u4f4e\u78b3\u8f49\u578b\u98a8\u96aa\uff1b\u53cd\u89c0\u8ca1\u653f\u653f\u7b56\u548c\u91d1\u878d\u76e3\u7ba1\uff0c\u56e0\u5177\u5099\u8f03\u591a\u800c\u5bcc\u5f48\u6027\u7684\u653f\u7b56\u5de5\u5177\uff0c\u76f8\u4fe1\u66f4\u53ef\u767c\u63ee\u61c9\u5c0d\u6c23\u5019\u8b8a\u5316\u4e4b\u6548\u3002 \u82e5\u8981\u6e96\u78ba\u8861\u91cf\u6c23\u5019\u8b8a\u5316\u6240\u5e36\u4f86\u7684\u91d1\u878d\u98a8\u96aa\uff0c\u91d1\u878d\u696d\u5c07\u9762\u81e84\u9805\u6311\u6230\uff1a\u4e00\u3001\u5206\u6790\u6578\u5341\u5e74\u4f86\u5404\u7a2e\u6c23\u5019\u8def\u5f91\u7684\u5f71\u97ff\uff1b\u4e8c\u3001\u9577\u671f\u9810\u6e2c\u6709\u6975\u5927\u7684\u4e0d\u78ba\u5b9a\u6027\uff1b\u4e09\u3001\u6c23\u5019\u6709\u5730\u57df\u548c\u7522\u696d\u5dee\u7570\uff0c\u56e0\u679c\u95dc\u4fc2\u5404\u6709\u4e0d\u540c\uff1b\u56db\u3001\u53ef\u518d\u751f\u80fd\u6e90\u7b49\u65b0\u6280\u8853\u7684\u51fa\u73fe\u8207\u751f\u6d3b\u65b9\u5f0f\u7684\u6539\u8b8a\u3002\u662f\u4ee5\u91d1\u878d\u696d\u5fc5\u9808\u904b\u7528\u5d84\u65b0\u7684\u5206\u6790\u65b9\u6cd5\uff0c\u91cd\u65b0\u601d\u8003\u6c23\u5019\u6578\u64da\u7684\u7ba1\u7406\u8207\u5206\u6790\u3001\u5546\u54c1\u7d44\u5408\u98a8\u96aa\u3001\u6c23\u5019\u98a8\u96aa\u60c5\u666f\u5047\u8a2d\u8207\u6c23\u5019\u98a8\u96aa\u58d3\u529b\u6e2c\u8a66\uff0c\u7d9c\u5408\u8a55\u4f30\u6c23\u5019\u8b8a\u5316\u7684\u885d\u64ca\uff0c\u5f9e\u800c\u638c\u63e1\u6f5b\u5728\u71df\u904b\u98a8\u96aa\uff0c\u76f8\u61c9\u8abf\u6574\u98a8\u96aa\u63a7\u5236\u8207\u71df\u904b\u7b56\u7565\u3002 \u9762\u5c0d\u4f86\u52e2\u6d36\u6d36\u7684\u6c23\u5019\u8b8a\u5316\uff0c\u5168\u7403\u91d1\u878d\u696d\u9808\u5f9e\u98a8\u96aa\u7ba1\u7406\u7684\u89d2\u5ea6\u5236\u5b9a\u65b9\u91dd\uff0c\u65b9\u80fd\u5316\u5371\u70ba\u6a5f\u3002\u6b63\u7576\u5404\u5730\u7d93\u6fdf\u5f9e\u75ab\u60c5\u4e2d\u9678\u7e8c\u5fa9\u7526\uff0c\u73fe\u6642\u6b63\u662f\u63a8\u52d5\u7da0\u8272\u8f49\u578b\u7684\u95dc\u9375\u6642\u523b\u3002\u5404\u570b\u653f\u5e9c\u7684\u63d0\u632f\u7d93\u6fdf\u8a08\u5283\u4e0d\u59a8\u8207\u76f8\u95dc\u7da0\u8272\u8f49\u578b\u7d50\u5408\uff0c\u4ee5\u8ca0\u8cac\u4efb\u6295\u8cc7\u4f5c\u70ba\u5fa9\u7526\u57fa\u790e\uff0c\u4e26\u9032\u884c\u6709\u52a9\u7da0\u8272\u7d93\u6fdf\u767c\u5c55\u7684\u7d50\u69cb\u6027\u6539\u9769\u3002\u91d1\u878d\u696d\u5728\u63d0\u4f9b\u4fe1\u7528\u6d41\u52d5\u6027\u7684\u540c\u6642\uff0c\u4ea6\u61c9\u5584\u7528\u91d1\u878d\u8cc7\u6e90\uff0c\u5f15\u5c0e\u7522\u696d\u9081\u5411\u74b0\u5883\u3001\u793e\u6703\u53ca\u7ba1\u6cbb\uff08ESG\uff09\u548c\u6c38\u7e8c\u767c\u5c55\u3002 \u3010\u53c3\u8003\u6587\u737b\u3011 Bank for International Settlements \uff082020\uff09, &quot;The Green Swan: Central Banking and Financial Stability in the Age of Climate Change&quot;. Bank for International Settlements\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2023-08-30T02:13:06+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2023-09-06T09:45:20+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40 - HKU Business School\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\u74b0\u9867\u4e16\u754c\u5404\u5730\uff0c\u6c23\u5019\u8b8a\u5316\u5c0e\u81f4\u81ea\u7136\u707d\u96e3\u983b\u751f\uff0c\u800c\u4e14\u7834\u58de\u529b\u6975\u5f37\uff0c\u885d\u64ca\u5404\u884c\u5404\u696d\uff0c\u5f71\u97ff\u7d93\u6fdf\u7a69\u5b9a\uff0c\u751a\u81f3\u5f15\u767c\u91d1\u878d\u5371\u6a5f\u3002 \u5927\u81ea\u7136\u8b66\u544a\u983b\u4ecd \u8fd110\u5e74\u4f86\uff0c\u5168\u7403\u7d93\u6fdf\u56e0\u6c23\u5019\u8b8a\u5316\u707d\u96e3\u800c\u8499\u53d7\u7684\u76f4\u63a5\u7d93\u6fdf\u640d\u5931\uff0c\u4f30\u8a08\u5e73\u5747\u6bcf\u5e74\u9ad8\u9054\u7d041.3\u842c\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u4e16\u754c\u672c\u5730\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u76840.2%\u5de6\u53f3\u30022018\u5e74\u52a0\u5dde\u68ee\u6797\u5927\u706b\u7684\u640d\u5931\u70ba3500\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u7576\u6642\u7f8e\u570bGDP\u76841.7%\u3002\u4e0a\u6708\u98b1\u98a8\u675c\u8607\u82ae\u76f4\u8972\u798f\u5efa\u7701\uff0c\u4ea6\u9020\u6210\u5343\u5104\u5143\u4eba\u6c11\u5e63\u7684\u640d\u5931\u3002 \u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54\u7684\u5c08\u5bb6Felix Suntheim\u548cJ\u00e9r\u00f4me Vandenbussche\u8a8d\u70ba\uff0c\u900f\u904e\u5728\u91d1\u878d\u9ad4\u7cfb\u4e2d\u767c\u63ee\u6838\u5fc3\u4f5c\u7528\u7684\u80a1\u7968\u5e02\u5834\uff0c\u53ef\u5206\u6790\u6c23\u5019\u8b8a\u5316\u5c0d\u91d1\u878d\u7a69\u5b9a\u7684\u5f71\u97ff\u3002\u904e\u53bb50\u5e74\u5167\u7d04350\u6b21\u5927\u898f\u6a21\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u4e2d\uff0c\u670910%\u5c0d\u7e3d\u9ad4\u5e02\u5834\u7684\u5f71\u97ff\u8d85\u904e14%\u3002\u4f8b\u59822011\u5e74\uff0c\u6cf0\u570b\u6c34\u707d\u5f15\u767c\u8a72\u570b\u80a1\u5e02\u572840\u5929\u5167\u5927\u8dcc30%\u3002 \u5929\u9d5d\u98a8\u96aa\u518d\u73fe 2020\u5e74\u570b\u969b\u6e05\u7b97\u9280\u884c\u767c\u8868\u300c\u7da0\u5929\u9d5d\u300d\u5831\u544a\uff0c\u6307\u51fa\u6c23\u5019\u8b8a\u5316\u52e2\u5c07\u6210\u70ba\u885d\u64ca\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u91cd\u8981\u98a8\u96aa\u3002\u7f8e\u570b\u7cbe\u7b97\u5e2b\u5b78\u6703\uff08Society of Actuaries\uff09\u6700\u8fd1\u671f\u767c\u8868\u7684\u65b0\u8208\u98a8\u96aa\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6c23\u5019\u98a8\u96aa\u75312019\u81f32022\u5e74\u671f\u9593\uff0c\u9023\u7e8c4\u5e74\u88ab\u8996\u70ba\u4e3b\u8981\u98a8\u96aa\u4e4b\u4e00\uff0c\u53ef\u5206\u70ba\u300c\u5be6\u9ad4\u300d\u8207\u300c\u8f49\u578b\u300d\u5169\u7a2e\u3002\u5be6\u9ad4\u98a8\u96aa\u662f\u6307\u6975\u7aef\u6c23\u5019\u9020\u6210\u751f\u547d\u8ca1\u7522\u640d\u5931\uff0c\u4f01\u696d\u6210\u672c\u589e\u52a0\u800c\u5229\u6f64\u6e1b\u5c11\uff0c\u589e\u52a0\u91d1\u878d\u696d\u904b\u4f5c\u7684\u6210\u672c\u8207\u98a8\u96aa\u3002\u8f49\u578b\u98a8\u96aa\u5247\u6307\u70ba\u4e86\u6e1b\u7de9\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u7684\u885d\u64ca\uff0c\u5404\u570b\u653f\u5e9c\u5be6\u65bd\u6e1b\u78b3\u653f\u7b56\uff0c\u5c07\u6703\u7a92\u7919\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u7d93\u71df\u3002\u5728\u4f01\u696d\u8cb8\u6b3e\u5408\u7d04\u4e2d\uff0c\u9ad8\u78b3\u6392\u653e\u6a5f\u5668\u8a2d\u5099\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u50f9\u503c\u5c07\u6703\u4e0b\u964d\uff0c\u800c\u63d0\u9ad8\u4fe1\u7528\u98a8\u96aa\uff1b\u8cb8\u6b3e\u7d66\u9019\u4e9b\u7522\u696d\u7684\u9280\u884c\u81ea\u7136\u9996\u7576\u5176\u885d\u3002 2017\u5e74\u6210\u7acb\u7684\u300c\u592e\u884c\u8207\u76e3\u7ba1\u6a5f\u69cb\u7da0\u8272\u91d1\u878d\u7db2\u7d61\u300d\uff08Network for Greening the Financial System\uff1b\u7c21\u7a31NGFS\uff09\uff0c\u5728\u51762020\u5e74\u7684\u5831\u544a\u4e2d\u6307\u51fa\uff0c\u82e5\u5168\u7403\u6696\u5316\u5931\u63a7\uff0c\u9810\u8a082100\u5e74\u5be6\u9ad4\u98a8\u96aa\u5c0dGDP\u7684\u640d\u5931\u6bd4\u7387\u5c07\u7d2f\u8a08\u905425%\u3002\u6b64\u5916\u9084\u6709\u8a31\u591a\u5be6\u9ad4\u98a8\u96aa\u7121\u6cd5\u7d0d\u5165\u8a55\u4f30\uff0c\u81f3\u65bc\u6d77\u5e73\u9762\u4e0a\u5347\u3001\u5929\u707d\u9020\u6210\u4eba\u53e3\u9077\u5f99\u3001\u5340\u57df\u885d\u7a81\u7b49\u9020\u6210\u7684\u640d\u5931\uff0c\u66f4\u5c1a\u672a\u7d0d\u5165\u8a08\u7b97\u4e4b\u4e2d\u3002\u99ac\u723e\u4ee3\u592b\u7b49\u5cf6\u570b\u7531\u65bc\u5883\u516780%\u7684\u9678\u5730\u9762\u7a4d\u6d77\u62d4\u9ad8\u5ea6\u4e0d\u52301\u7c73\uff0c\u56e0\u6b64\u96a8\u7740\u6d77\u5e73\u9762\u4e0a\u5347\uff0c\u4f30\u8a08\u6216\u6703\u57282100\u5e74\u4e4b\u5f8c\u5b8c\u5168\u9678\u6c89\u3002\u5168\u7403\u6696\u5316\u4ea6\u5f71\u97ff\u7ce7\u98df\u751f\u7522\uff0c\u82e5\u6c23\u6eab\u589e\u52a0\u651d\u6c0f2\u5ea6\uff0c\u71b1\u5e36\u5730\u5340\u5c0f\u9ea5\u6216\u6703\u6e1b\u752220%\u3002 \u6b0a\u8861\u98a8\u96aa\u8f15\u91cd \u7f8e\u570b\u91d1\u878d\u4f01\u696dMSCI\u57282021\u5e74\u57fa\u65bc\u4e0d\u540c\u60c5\u666f\u4e0b\uff0c\u8a55\u4f30\u7522\u696d\u53d7\u8f49\u578b\u98a8\u96aa\u885d\u64ca\u7684\u7a0b\u5ea6\u3002\u4f8b\u5982\u7576\u6eab\u5ea6\u589e\u9577\u53ef\u63a7\u5236\u5728\u651d\u6c0f1.5\u5ea6\uff0c\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u8f49\u578b\u98a8\u96aa\u8f03\u5927\uff0c\u6b50\u6d32\u7684\u80fd\u6e90\u516c\u53f8\u8cc7\u7522\u50f9\u503c\u5e73\u5747\u5c07\u5927\u6e1b67%\uff0c\u5275\u65b0\u7684\u4f4e\u78b3\u6280\u8853\u7522\u696d\u5247\u6703\u589e\u52a018%\u6536\u5165\u3002\u81f3\u65bc\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u96d6\u7136\u4e5f\u5c07\u8dcc\u8fd1\u516d\u6210\uff0c\u4f46\u4f4e\u78b3\u6280\u8853\u4ea6\u5c07\u70ba\u5176\u589e\u52a0\u56db\u6210\u6536\u5165\u3002 \u82e5\u6eab\u5ea6\u589e\u9577\u651d\u6c0f3\u5ea6\uff0c\u5404\u570b\u653f\u5e9c\u7684\u6e1b\u78b3\u653f\u7b56\u6216\u6703\u8f49\u8da8\u6d88\u6975\uff0c\u8f49\u578b\u98a8\u96aa\u5c0d\u5404\u7522\u696d\u8cc7\u7522\u50f9\u503c\u9020\u6210\u7684\u640d\u5931\u4fbf\u6703\u8f03\u5c0f\uff1b\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u5c07\u6e1b\u5c11\u7d04\u5169\u6210\uff0c\u537b\u56e0\u6e1b\u78b3\u8a98\u56e0\u4e0d\u8db3\uff0c\u5275\u65b0\u79d1\u6280\u5e36\u4f86\u7684\u65b0\u6536\u5165\u4e5f\u5c07\u5927\u5e45\u7e2e\u6e1b\u3002\u4ee5\u4e0a\u6578\u64da\u986f\u793a\uff0c\u8f49\u578b\u98a8\u96aa\u8207\u5be6\u9ad4\u98a8\u96aa\u662f\u7ff9\u7ff9\u677f\u7684\u5169\u7aef\uff0c\u70ba\u8ff4\u907f\u8f49\u578b\u98a8\u96aa\u800c\u4e0d\u9858\u7a4d\u6975\u6e1b\u78b3\uff0c\u96e3\u514d\u52a0\u5287\u5be6\u9ad4\u98a8\u96aa\u3002 \u65b0\u51a0\u80ba\u708e\u5927\u6d41\u884c\u4fc3\u4f7f\u91d1\u878d\u696d\u754c\u91cd\u65b0\u8a55\u4f30\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u4ee3\u50f9\u3002\u6839\u64da\u67cf\u541b\u54f2\uff08Michael Baldinger\uff092020\u5e74\u7684\u5206\u6790\uff0c\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6709\u4e09\u5927\u5171\u901a\u9ede\u3002\u7b2c\u4e00\uff0c\u65b0\u51a0\u80ba\u708e\u662f\u4e00\u5834\u53f2\u7121\u524d\u4f8b\u7684\u516c\u5171\u885b\u751f\u707d\u96e3\uff0c\u4e16\u754c\u5404\u570b\u56e0\u672a\u80fd\u53ca\u65e9\u9632\u7bc4\u800c\u5099\u53d7\u91cd\u5275\uff1b\u9762\u5c0d\u6c23\u5019\u8b8a\u9077\uff0c\u4ea6\u9808\u5f15\u4ee5\u70ba\u9451\u3002\u7b2c\u4e8c\uff0c\u75ab\u60c5\u7a81\u986f\u5728\u5168\u7403\u5316\u4e0b\uff0c\u8907\u96dc\u7684\u4f9b\u61c9\u93c8\u9762\u5c0d\u707d\u96e3\u6642\u5982\u4f55\u4e0d\u582a\u4e00\u64ca\uff1b\u6c23\u5019\u8b8a\u5316\u6240\u80fd\u7522\u751f\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u540c\u6a23\u8db3\u4ee5\u7671\u7613\u4e16\u754c\u7d93\u6fdf\u3002\u7b2c\u4e09\uff0c\u65b0\u51a0\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6240\u9020\u6210\u7684\u885d\u64ca\u96d6\u6709\u7de9\u6025\u4e4b\u5225\uff0c\u4f46\u82e5\u6709\u95dc\u7576\u5c40\u61c9\u5c0d\u75ab\u60c5\u4e0d\u529b\uff0c\u4ee5\u81f4\u6c23\u5019\u98a8\u96aa\u5931\u63a7\uff0c\u5f8c\u679c\u4e0d\u582a\u8a2d\u60f3\u3002 \u6a21\u64ec\u5f0f\u58d3\u529b\u6e2c\u8a66 \u6839\u64da\u570b\u969b\u6e05\u7b97\u9280\u884c\u7684\u7814\u7a76\uff0c\u4e0b\u4e00\u500b\u7cfb\u7d71\u6027\u91d1\u878d\u98a8\u96aa\u53ef\u80fd\u6e90\u81ea\u6c23\u5019\u885d\u64ca\uff0c\u56e0\u6b64\u76e3\u7ba1\u6a5f\u95dc\u6709\u8cac\u4efb\u8981\u6c42\u91d1\u878d\u6a5f\u69cb\u8a55\u4f30\u4e26\u63ed\u9732\u5176\u6c23\u5019\u98a8\u96aa\u3002\u70ba\u6b64\uff0c\u6cd5\u3001\u82f1\u5169\u570b\u7684\u4e2d\u592e\u9280\u884c\u57282021\u5e74\u7387\u5148\u5c0d\u672c\u570b\u7684\u91d1\u878d\u6a5f\u69cb\u548c\u7cfb\u7d71\u555f\u52d5\u6c23\u5019\u8b8a\u5316\u58d3\u529b\u6e2c\u8a66\uff1b\u6b50\u6d32\u5404\u570b\u7684\u6709\u95dc\u6e2c\u8a66\u5247\u57282022\u5e74\u5c55\u958b\u3002\u81f3\u65bc\u7f8e\u570b\uff0c\u806f\u90a6\u5132\u5099\u5c40\u4ea6\u65bc\u8fd1\u5e74\u6210\u7acb\u4e86\u76f8\u95dc\u59d4\u54e1\u6703\uff0c\u64ec\u65bc2023\u81f32025\u5e74\u8981\u6c42\u91d1\u878d\u754c\u5c07\u6c23\u5019\u8b8a\u5316\u7d0d\u5165\u58d3\u529b\u6e2c\u8a66\u3002\u65e5\u672c\u592e\u884c\u5247\u63a8\u51fa\u65b0\u7684\u8cb8\u6b3e\u5de5\u5177\uff0c\u63d0\u4f9b\u8cc7\u91d1\u652f\u6301\u6c23\u5019\u8b8a\u5316\u7684\u9805\u76ee\u3002 \u91d1\u878d\u6c23\u5019\u58d3\u529b\u6e2c\u8a66\u5be6\u6709\u52a9\u65bc\u91d1\u878d\u6a5f\u69cb\u638c\u63e1\u5728\u6975\u7aef\u6c23\u5019\u4e0b\uff0c\u5176\u8cc7\u7522\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002\u4f8b\u5982\u82f1\u502b\u9280\u884c\u4e00\u4efd\u5831\u544a\u63d0\u53ca\uff0c\u5168\u82f1\u570b\u7684\u623f\u8cb8\u7269\u696d\u7d04\u670910%\u8655\u65bc\u5bb9\u6613\u6c34\u6d78\u5340\u57df\uff0c\u56e0\u6b64\u5efa\u8b70\u5404\u9280\u884c\u67e5\u627e\u623f\u8cb8\u62b5\u62bc\u54c1\u4f4d\u65bc\u6c34\u6d78\u5340\u7684\u6bd4\u4f8b\uff0c\u518d\u6309\u707d\u60c5\u4e0d\u540c\u7a0b\u5ea6\u9810\u8a08\u6240\u6d89\u640d\u5931\u3002 \u7f8e\u570b\u9280\u884c\u5247\u4ee55\u7d1a\u98b6\u98a8\u4f86\u6a21\u64ec\u5176\u623f\u5730\u7522\u62b5\u62bc\u54c1\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002 \u5168\u65b9\u4f4d\u61c9\u5c0d\u7b56\u7565 \u4e8b\u5be6\u4e0a\uff0c\u76ee\u524d\u4e0d\u4e4f\u6df1\u5165\u63a2\u8a0e\u6c23\u5019\u8b8a\u5316\u5c0d\u8ca8\u5e63\u653f\u7b56\u5f71\u97ff\u7684\u7814\u7a76\u3002\u82f1\u502b\u9280\u884c\u7684\u5df4\u6ed5\uff08Sandra Batten\uff09\u8a8d\u70ba\uff0c\u6c23\u5019\u8b8a\u5316\u5c07\u589e\u52a0\u901a\u8ca8\u81a8\u8139\u53ca\u7d93\u6fdf\u589e\u9577\u9810\u6e2c\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5f71\u97ff\u592e\u884c\u9054\u6210\u8ca8\u5e63\u7a69\u5b9a\u7684\u76ee\u6a19\u653f\u7b56\u3002NGFS\u7684\u7814\u7a76\u767c\u73fe\uff0c\u6975\u7aef\u6c23\u5019\u4e8b\u4ef6\u767c\u751f\u7684\u983b\u7387\u8207\u5f37\u5ea6\u589e\u52a0\uff0c\u5c07\u64f4\u5927\u901a\u8ca8\u81a8\u8139\u548c\u91d1\u878d\u5e02\u5834\u50f9\u683c\u7684\u6ce2\u52d5\u6027\uff0c\u524a\u5f31\u8ca8\u5e63\u653f\u7b56\u7684\u57f7\u884c\u6548\u679c\uff0c\u56e0\u800c\u5efa\u8b70\u628a\u6c23\u5019\u8b8a\u5316\u98a8\u96aa\u7d0d\u5165\u592e\u884c\u8ca8\u5e63\u653f\u7b56\uff0c\u6b64\u8209\u662f\u5426\u9069\u7576\uff0c\u5404\u754c\u81f3\u4eca\u672a\u6709\u5b9a\u8ad6\u3002\u9451\u65bc\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u5de5\u5177\u6709\u9650\uff0c\u96e3\u4ee5\u5145\u5206\u8986\u84cb\u4f4e\u78b3\u8f49\u578b\u98a8\u96aa\uff1b\u53cd\u89c0\u8ca1\u653f\u653f\u7b56\u548c\u91d1\u878d\u76e3\u7ba1\uff0c\u56e0\u5177\u5099\u8f03\u591a\u800c\u5bcc\u5f48\u6027\u7684\u653f\u7b56\u5de5\u5177\uff0c\u76f8\u4fe1\u66f4\u53ef\u767c\u63ee\u61c9\u5c0d\u6c23\u5019\u8b8a\u5316\u4e4b\u6548\u3002 \u82e5\u8981\u6e96\u78ba\u8861\u91cf\u6c23\u5019\u8b8a\u5316\u6240\u5e36\u4f86\u7684\u91d1\u878d\u98a8\u96aa\uff0c\u91d1\u878d\u696d\u5c07\u9762\u81e84\u9805\u6311\u6230\uff1a\u4e00\u3001\u5206\u6790\u6578\u5341\u5e74\u4f86\u5404\u7a2e\u6c23\u5019\u8def\u5f91\u7684\u5f71\u97ff\uff1b\u4e8c\u3001\u9577\u671f\u9810\u6e2c\u6709\u6975\u5927\u7684\u4e0d\u78ba\u5b9a\u6027\uff1b\u4e09\u3001\u6c23\u5019\u6709\u5730\u57df\u548c\u7522\u696d\u5dee\u7570\uff0c\u56e0\u679c\u95dc\u4fc2\u5404\u6709\u4e0d\u540c\uff1b\u56db\u3001\u53ef\u518d\u751f\u80fd\u6e90\u7b49\u65b0\u6280\u8853\u7684\u51fa\u73fe\u8207\u751f\u6d3b\u65b9\u5f0f\u7684\u6539\u8b8a\u3002\u662f\u4ee5\u91d1\u878d\u696d\u5fc5\u9808\u904b\u7528\u5d84\u65b0\u7684\u5206\u6790\u65b9\u6cd5\uff0c\u91cd\u65b0\u601d\u8003\u6c23\u5019\u6578\u64da\u7684\u7ba1\u7406\u8207\u5206\u6790\u3001\u5546\u54c1\u7d44\u5408\u98a8\u96aa\u3001\u6c23\u5019\u98a8\u96aa\u60c5\u666f\u5047\u8a2d\u8207\u6c23\u5019\u98a8\u96aa\u58d3\u529b\u6e2c\u8a66\uff0c\u7d9c\u5408\u8a55\u4f30\u6c23\u5019\u8b8a\u5316\u7684\u885d\u64ca\uff0c\u5f9e\u800c\u638c\u63e1\u6f5b\u5728\u71df\u904b\u98a8\u96aa\uff0c\u76f8\u61c9\u8abf\u6574\u98a8\u96aa\u63a7\u5236\u8207\u71df\u904b\u7b56\u7565\u3002 \u9762\u5c0d\u4f86\u52e2\u6d36\u6d36\u7684\u6c23\u5019\u8b8a\u5316\uff0c\u5168\u7403\u91d1\u878d\u696d\u9808\u5f9e\u98a8\u96aa\u7ba1\u7406\u7684\u89d2\u5ea6\u5236\u5b9a\u65b9\u91dd\uff0c\u65b9\u80fd\u5316\u5371\u70ba\u6a5f\u3002\u6b63\u7576\u5404\u5730\u7d93\u6fdf\u5f9e\u75ab\u60c5\u4e2d\u9678\u7e8c\u5fa9\u7526\uff0c\u73fe\u6642\u6b63\u662f\u63a8\u52d5\u7da0\u8272\u8f49\u578b\u7684\u95dc\u9375\u6642\u523b\u3002\u5404\u570b\u653f\u5e9c\u7684\u63d0\u632f\u7d93\u6fdf\u8a08\u5283\u4e0d\u59a8\u8207\u76f8\u95dc\u7da0\u8272\u8f49\u578b\u7d50\u5408\uff0c\u4ee5\u8ca0\u8cac\u4efb\u6295\u8cc7\u4f5c\u70ba\u5fa9\u7526\u57fa\u790e\uff0c\u4e26\u9032\u884c\u6709\u52a9\u7da0\u8272\u7d93\u6fdf\u767c\u5c55\u7684\u7d50\u69cb\u6027\u6539\u9769\u3002\u91d1\u878d\u696d\u5728\u63d0\u4f9b\u4fe1\u7528\u6d41\u52d5\u6027\u7684\u540c\u6642\uff0c\u4ea6\u61c9\u5584\u7528\u91d1\u878d\u8cc7\u6e90\uff0c\u5f15\u5c0e\u7522\u696d\u9081\u5411\u74b0\u5883\u3001\u793e\u6703\u53ca\u7ba1\u6cbb\uff08ESG\uff09\u548c\u6c38\u7e8c\u767c\u5c55\u3002 \u3010\u53c3\u8003\u6587\u737b\u3011 Bank for International Settlements \uff082020\uff09, &quot;The Green Swan: Central Banking and Financial Stability in the Age of Climate Change&quot;. Bank for International Settlements\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/research\\\/thought-leadership\\\/hkej-column\\\/the-potential-turmoil-of-the-green-swan-in-finance\\\/#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/#listItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/thought-leadership\\\/hkej-column-tc\\\/#listItem\",\"name\":\"\\u9f8d\\u864e\\u5c71\\u4e0b\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/thought-leadership\\\/hkej-column-tc\\\/#listItem\",\"position\":2,\"name\":\"\\u9f8d\\u864e\\u5c71\\u4e0b\",\"item\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/thought-leadership\\\/hkej-column-tc\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/research\\\/thought-leadership\\\/hkej-column\\\/the-potential-turmoil-of-the-green-swan-in-finance\\\/#listItem\",\"name\":\"\\u91d1\\u878d\\u300c\\u7da0\\u5929\\u9d5d\\u300d\\u7684\\u6f5b\\u5728\\u4e82\\u5c40\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/#listItem\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/research\\\/thought-leadership\\\/hkej-column\\\/the-potential-turmoil-of-the-green-swan-in-finance\\\/#listItem\",\"position\":3,\"name\":\"\\u91d1\\u878d\\u300c\\u7da0\\u5929\\u9d5d\\u300d\\u7684\\u6f5b\\u5728\\u4e82\\u5c40\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/thought-leadership\\\/hkej-column-tc\\\/#listItem\",\"name\":\"\\u9f8d\\u864e\\u5c71\\u4e0b\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/#organization\",\"name\":\"HKU Business School\",\"url\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/research\\\/thought-leadership\\\/hkej-column\\\/the-potential-turmoil-of-the-green-swan-in-finance\\\/#webpage\",\"url\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/research\\\/thought-leadership\\\/hkej-column\\\/the-potential-turmoil-of-the-green-swan-in-finance\\\/\",\"name\":\"\\u91d1\\u878d\\u300c\\u7da0\\u5929\\u9d5d\\u300d\\u7684\\u6f5b\\u5728\\u4e82\\u5c40 - HKU Business School\",\"description\":\"\\u74b0\\u9867\\u4e16\\u754c\\u5404\\u5730\\uff0c\\u6c23\\u5019\\u8b8a\\u5316\\u5c0e\\u81f4\\u81ea\\u7136\\u707d\\u96e3\\u983b\\u751f\\uff0c\\u800c\\u4e14\\u7834\\u58de\\u529b\\u6975\\u5f37\\uff0c\\u885d\\u64ca\\u5404\\u884c\\u5404\\u696d\\uff0c\\u5f71\\u97ff\\u7d93\\u6fdf\\u7a69\\u5b9a\\uff0c\\u751a\\u81f3\\u5f15\\u767c\\u91d1\\u878d\\u5371\\u6a5f\\u3002 \\u5927\\u81ea\\u7136\\u8b66\\u544a\\u983b\\u4ecd \\u8fd110\\u5e74\\u4f86\\uff0c\\u5168\\u7403\\u7d93\\u6fdf\\u56e0\\u6c23\\u5019\\u8b8a\\u5316\\u707d\\u96e3\\u800c\\u8499\\u53d7\\u7684\\u76f4\\u63a5\\u7d93\\u6fdf\\u640d\\u5931\\uff0c\\u4f30\\u8a08\\u5e73\\u5747\\u6bcf\\u5e74\\u9ad8\\u9054\\u7d041.3\\u842c\\u5104\\u7f8e\\u5143\\uff0c\\u76f8\\u7576\\u65bc\\u4e16\\u754c\\u672c\\u5730\\u751f\\u7522\\u7e3d\\u503c\\uff08GDP\\uff09\\u76840.2%\\u5de6\\u53f3\\u30022018\\u5e74\\u52a0\\u5dde\\u68ee\\u6797\\u5927\\u706b\\u7684\\u640d\\u5931\\u70ba3500\\u5104\\u7f8e\\u5143\\uff0c\\u76f8\\u7576\\u65bc\\u7576\\u6642\\u7f8e\\u570bGDP\\u76841.7%\\u3002\\u4e0a\\u6708\\u98b1\\u98a8\\u675c\\u8607\\u82ae\\u76f4\\u8972\\u798f\\u5efa\\u7701\\uff0c\\u4ea6\\u9020\\u6210\\u5343\\u5104\\u5143\\u4eba\\u6c11\\u5e63\\u7684\\u640d\\u5931\\u3002 \\u570b\\u969b\\u8ca8\\u5e63\\u57fa\\u91d1\\u7d44\\u7e54\\u7684\\u5c08\\u5bb6Felix Suntheim\\u548cJ\\u00e9r\\u00f4me Vandenbussche\\u8a8d\\u70ba\\uff0c\\u900f\\u904e\\u5728\\u91d1\\u878d\\u9ad4\\u7cfb\\u4e2d\\u767c\\u63ee\\u6838\\u5fc3\\u4f5c\\u7528\\u7684\\u80a1\\u7968\\u5e02\\u5834\\uff0c\\u53ef\\u5206\\u6790\\u6c23\\u5019\\u8b8a\\u5316\\u5c0d\\u91d1\\u878d\\u7a69\\u5b9a\\u7684\\u5f71\\u97ff\\u3002\\u904e\\u53bb50\\u5e74\\u5167\\u7d04350\\u6b21\\u5927\\u898f\\u6a21\\u6c23\\u5019\\u8207\\u81ea\\u7136\\u707d\\u96e3\\u4e2d\\uff0c\\u670910%\\u5c0d\\u7e3d\\u9ad4\\u5e02\\u5834\\u7684\\u5f71\\u97ff\\u8d85\\u904e14%\\u3002\\u4f8b\\u59822011\\u5e74\\uff0c\\u6cf0\\u570b\\u6c34\\u707d\\u5f15\\u767c\\u8a72\\u570b\\u80a1\\u5e02\\u572840\\u5929\\u5167\\u5927\\u8dcc30%\\u3002 \\u5929\\u9d5d\\u98a8\\u96aa\\u518d\\u73fe 2020\\u5e74\\u570b\\u969b\\u6e05\\u7b97\\u9280\\u884c\\u767c\\u8868\\u300c\\u7da0\\u5929\\u9d5d\\u300d\\u5831\\u544a\\uff0c\\u6307\\u51fa\\u6c23\\u5019\\u8b8a\\u5316\\u52e2\\u5c07\\u6210\\u70ba\\u885d\\u64ca\\u5168\\u7403\\u91d1\\u878d\\u7a69\\u5b9a\\u7684\\u91cd\\u8981\\u98a8\\u96aa\\u3002\\u7f8e\\u570b\\u7cbe\\u7b97\\u5e2b\\u5b78\\u6703\\uff08Society of Actuaries\\uff09\\u6700\\u8fd1\\u671f\\u767c\\u8868\\u7684\\u65b0\\u8208\\u98a8\\u96aa\\u8abf\\u67e5\\u7d50\\u679c\\u986f\\u793a\\uff0c\\u6c23\\u5019\\u98a8\\u96aa\\u75312019\\u81f32022\\u5e74\\u671f\\u9593\\uff0c\\u9023\\u7e8c4\\u5e74\\u88ab\\u8996\\u70ba\\u4e3b\\u8981\\u98a8\\u96aa\\u4e4b\\u4e00\\uff0c\\u53ef\\u5206\\u70ba\\u300c\\u5be6\\u9ad4\\u300d\\u8207\\u300c\\u8f49\\u578b\\u300d\\u5169\\u7a2e\\u3002\\u5be6\\u9ad4\\u98a8\\u96aa\\u662f\\u6307\\u6975\\u7aef\\u6c23\\u5019\\u9020\\u6210\\u751f\\u547d\\u8ca1\\u7522\\u640d\\u5931\\uff0c\\u4f01\\u696d\\u6210\\u672c\\u589e\\u52a0\\u800c\\u5229\\u6f64\\u6e1b\\u5c11\\uff0c\\u589e\\u52a0\\u91d1\\u878d\\u696d\\u904b\\u4f5c\\u7684\\u6210\\u672c\\u8207\\u98a8\\u96aa\\u3002\\u8f49\\u578b\\u98a8\\u96aa\\u5247\\u6307\\u70ba\\u4e86\\u6e1b\\u7de9\\u6c23\\u5019\\u8207\\u81ea\\u7136\\u707d\\u96e3\\u7684\\u885d\\u64ca\\uff0c\\u5404\\u570b\\u653f\\u5e9c\\u5be6\\u65bd\\u6e1b\\u78b3\\u653f\\u7b56\\uff0c\\u5c07\\u6703\\u7a92\\u7919\\u9ad8\\u78b3\\u6392\\u653e\\u7522\\u696d\\u7684\\u7d93\\u71df\\u3002\\u5728\\u4f01\\u696d\\u8cb8\\u6b3e\\u5408\\u7d04\\u4e2d\\uff0c\\u9ad8\\u78b3\\u6392\\u653e\\u6a5f\\u5668\\u8a2d\\u5099\\u4f5c\\u70ba\\u62b5\\u62bc\\u54c1\\u7684\\u50f9\\u503c\\u5c07\\u6703\\u4e0b\\u964d\\uff0c\\u800c\\u63d0\\u9ad8\\u4fe1\\u7528\\u98a8\\u96aa\\uff1b\\u8cb8\\u6b3e\\u7d66\\u9019\\u4e9b\\u7522\\u696d\\u7684\\u9280\\u884c\\u81ea\\u7136\\u9996\\u7576\\u5176\\u885d\\u3002 2017\\u5e74\\u6210\\u7acb\\u7684\\u300c\\u592e\\u884c\\u8207\\u76e3\\u7ba1\\u6a5f\\u69cb\\u7da0\\u8272\\u91d1\\u878d\\u7db2\\u7d61\\u300d\\uff08Network for Greening the Financial System\\uff1b\\u7c21\\u7a31NGFS\\uff09\\uff0c\\u5728\\u51762020\\u5e74\\u7684\\u5831\\u544a\\u4e2d\\u6307\\u51fa\\uff0c\\u82e5\\u5168\\u7403\\u6696\\u5316\\u5931\\u63a7\\uff0c\\u9810\\u8a082100\\u5e74\\u5be6\\u9ad4\\u98a8\\u96aa\\u5c0dGDP\\u7684\\u640d\\u5931\\u6bd4\\u7387\\u5c07\\u7d2f\\u8a08\\u905425%\\u3002\\u6b64\\u5916\\u9084\\u6709\\u8a31\\u591a\\u5be6\\u9ad4\\u98a8\\u96aa\\u7121\\u6cd5\\u7d0d\\u5165\\u8a55\\u4f30\\uff0c\\u81f3\\u65bc\\u6d77\\u5e73\\u9762\\u4e0a\\u5347\\u3001\\u5929\\u707d\\u9020\\u6210\\u4eba\\u53e3\\u9077\\u5f99\\u3001\\u5340\\u57df\\u885d\\u7a81\\u7b49\\u9020\\u6210\\u7684\\u640d\\u5931\\uff0c\\u66f4\\u5c1a\\u672a\\u7d0d\\u5165\\u8a08\\u7b97\\u4e4b\\u4e2d\\u3002\\u99ac\\u723e\\u4ee3\\u592b\\u7b49\\u5cf6\\u570b\\u7531\\u65bc\\u5883\\u516780%\\u7684\\u9678\\u5730\\u9762\\u7a4d\\u6d77\\u62d4\\u9ad8\\u5ea6\\u4e0d\\u52301\\u7c73\\uff0c\\u56e0\\u6b64\\u96a8\\u7740\\u6d77\\u5e73\\u9762\\u4e0a\\u5347\\uff0c\\u4f30\\u8a08\\u6216\\u6703\\u57282100\\u5e74\\u4e4b\\u5f8c\\u5b8c\\u5168\\u9678\\u6c89\\u3002\\u5168\\u7403\\u6696\\u5316\\u4ea6\\u5f71\\u97ff\\u7ce7\\u98df\\u751f\\u7522\\uff0c\\u82e5\\u6c23\\u6eab\\u589e\\u52a0\\u651d\\u6c0f2\\u5ea6\\uff0c\\u71b1\\u5e36\\u5730\\u5340\\u5c0f\\u9ea5\\u6216\\u6703\\u6e1b\\u752220%\\u3002 \\u6b0a\\u8861\\u98a8\\u96aa\\u8f15\\u91cd \\u7f8e\\u570b\\u91d1\\u878d\\u4f01\\u696dMSCI\\u57282021\\u5e74\\u57fa\\u65bc\\u4e0d\\u540c\\u60c5\\u666f\\u4e0b\\uff0c\\u8a55\\u4f30\\u7522\\u696d\\u53d7\\u8f49\\u578b\\u98a8\\u96aa\\u885d\\u64ca\\u7684\\u7a0b\\u5ea6\\u3002\\u4f8b\\u5982\\u7576\\u6eab\\u5ea6\\u589e\\u9577\\u53ef\\u63a7\\u5236\\u5728\\u651d\\u6c0f1.5\\u5ea6\\uff0c\\u9ad8\\u78b3\\u6392\\u653e\\u7522\\u696d\\u7684\\u8f49\\u578b\\u98a8\\u96aa\\u8f03\\u5927\\uff0c\\u6b50\\u6d32\\u7684\\u80fd\\u6e90\\u516c\\u53f8\\u8cc7\\u7522\\u50f9\\u503c\\u5e73\\u5747\\u5c07\\u5927\\u6e1b67%\\uff0c\\u5275\\u65b0\\u7684\\u4f4e\\u78b3\\u6280\\u8853\\u7522\\u696d\\u5247\\u6703\\u589e\\u52a018%\\u6536\\u5165\\u3002\\u81f3\\u65bc\\u96fb\\u529b\\u516c\\u53f8\\u7684\\u8cc7\\u7522\\u50f9\\u503c\\u96d6\\u7136\\u4e5f\\u5c07\\u8dcc\\u8fd1\\u516d\\u6210\\uff0c\\u4f46\\u4f4e\\u78b3\\u6280\\u8853\\u4ea6\\u5c07\\u70ba\\u5176\\u589e\\u52a0\\u56db\\u6210\\u6536\\u5165\\u3002 \\u82e5\\u6eab\\u5ea6\\u589e\\u9577\\u651d\\u6c0f3\\u5ea6\\uff0c\\u5404\\u570b\\u653f\\u5e9c\\u7684\\u6e1b\\u78b3\\u653f\\u7b56\\u6216\\u6703\\u8f49\\u8da8\\u6d88\\u6975\\uff0c\\u8f49\\u578b\\u98a8\\u96aa\\u5c0d\\u5404\\u7522\\u696d\\u8cc7\\u7522\\u50f9\\u503c\\u9020\\u6210\\u7684\\u640d\\u5931\\u4fbf\\u6703\\u8f03\\u5c0f\\uff1b\\u96fb\\u529b\\u516c\\u53f8\\u7684\\u8cc7\\u7522\\u50f9\\u503c\\u5c07\\u6e1b\\u5c11\\u7d04\\u5169\\u6210\\uff0c\\u537b\\u56e0\\u6e1b\\u78b3\\u8a98\\u56e0\\u4e0d\\u8db3\\uff0c\\u5275\\u65b0\\u79d1\\u6280\\u5e36\\u4f86\\u7684\\u65b0\\u6536\\u5165\\u4e5f\\u5c07\\u5927\\u5e45\\u7e2e\\u6e1b\\u3002\\u4ee5\\u4e0a\\u6578\\u64da\\u986f\\u793a\\uff0c\\u8f49\\u578b\\u98a8\\u96aa\\u8207\\u5be6\\u9ad4\\u98a8\\u96aa\\u662f\\u7ff9\\u7ff9\\u677f\\u7684\\u5169\\u7aef\\uff0c\\u70ba\\u8ff4\\u907f\\u8f49\\u578b\\u98a8\\u96aa\\u800c\\u4e0d\\u9858\\u7a4d\\u6975\\u6e1b\\u78b3\\uff0c\\u96e3\\u514d\\u52a0\\u5287\\u5be6\\u9ad4\\u98a8\\u96aa\\u3002 \\u65b0\\u51a0\\u80ba\\u708e\\u5927\\u6d41\\u884c\\u4fc3\\u4f7f\\u91d1\\u878d\\u696d\\u754c\\u91cd\\u65b0\\u8a55\\u4f30\\u7cfb\\u7d71\\u6027\\u98a8\\u96aa\\u7684\\u4ee3\\u50f9\\u3002\\u6839\\u64da\\u67cf\\u541b\\u54f2\\uff08Michael Baldinger\\uff092020\\u5e74\\u7684\\u5206\\u6790\\uff0c\\u75ab\\u60c5\\u8207\\u6c23\\u5019\\u8b8a\\u5316\\u6709\\u4e09\\u5927\\u5171\\u901a\\u9ede\\u3002\\u7b2c\\u4e00\\uff0c\\u65b0\\u51a0\\u80ba\\u708e\\u662f\\u4e00\\u5834\\u53f2\\u7121\\u524d\\u4f8b\\u7684\\u516c\\u5171\\u885b\\u751f\\u707d\\u96e3\\uff0c\\u4e16\\u754c\\u5404\\u570b\\u56e0\\u672a\\u80fd\\u53ca\\u65e9\\u9632\\u7bc4\\u800c\\u5099\\u53d7\\u91cd\\u5275\\uff1b\\u9762\\u5c0d\\u6c23\\u5019\\u8b8a\\u9077\\uff0c\\u4ea6\\u9808\\u5f15\\u4ee5\\u70ba\\u9451\\u3002\\u7b2c\\u4e8c\\uff0c\\u75ab\\u60c5\\u7a81\\u986f\\u5728\\u5168\\u7403\\u5316\\u4e0b\\uff0c\\u8907\\u96dc\\u7684\\u4f9b\\u61c9\\u93c8\\u9762\\u5c0d\\u707d\\u96e3\\u6642\\u5982\\u4f55\\u4e0d\\u582a\\u4e00\\u64ca\\uff1b\\u6c23\\u5019\\u8b8a\\u5316\\u6240\\u80fd\\u7522\\u751f\\u7684\\u7cfb\\u7d71\\u6027\\u98a8\\u96aa\\uff0c\\u540c\\u6a23\\u8db3\\u4ee5\\u7671\\u7613\\u4e16\\u754c\\u7d93\\u6fdf\\u3002\\u7b2c\\u4e09\\uff0c\\u65b0\\u51a0\\u75ab\\u60c5\\u8207\\u6c23\\u5019\\u8b8a\\u5316\\u6240\\u9020\\u6210\\u7684\\u885d\\u64ca\\u96d6\\u6709\\u7de9\\u6025\\u4e4b\\u5225\\uff0c\\u4f46\\u82e5\\u6709\\u95dc\\u7576\\u5c40\\u61c9\\u5c0d\\u75ab\\u60c5\\u4e0d\\u529b\\uff0c\\u4ee5\\u81f4\\u6c23\\u5019\\u98a8\\u96aa\\u5931\\u63a7\\uff0c\\u5f8c\\u679c\\u4e0d\\u582a\\u8a2d\\u60f3\\u3002 \\u6a21\\u64ec\\u5f0f\\u58d3\\u529b\\u6e2c\\u8a66 \\u6839\\u64da\\u570b\\u969b\\u6e05\\u7b97\\u9280\\u884c\\u7684\\u7814\\u7a76\\uff0c\\u4e0b\\u4e00\\u500b\\u7cfb\\u7d71\\u6027\\u91d1\\u878d\\u98a8\\u96aa\\u53ef\\u80fd\\u6e90\\u81ea\\u6c23\\u5019\\u885d\\u64ca\\uff0c\\u56e0\\u6b64\\u76e3\\u7ba1\\u6a5f\\u95dc\\u6709\\u8cac\\u4efb\\u8981\\u6c42\\u91d1\\u878d\\u6a5f\\u69cb\\u8a55\\u4f30\\u4e26\\u63ed\\u9732\\u5176\\u6c23\\u5019\\u98a8\\u96aa\\u3002\\u70ba\\u6b64\\uff0c\\u6cd5\\u3001\\u82f1\\u5169\\u570b\\u7684\\u4e2d\\u592e\\u9280\\u884c\\u57282021\\u5e74\\u7387\\u5148\\u5c0d\\u672c\\u570b\\u7684\\u91d1\\u878d\\u6a5f\\u69cb\\u548c\\u7cfb\\u7d71\\u555f\\u52d5\\u6c23\\u5019\\u8b8a\\u5316\\u58d3\\u529b\\u6e2c\\u8a66\\uff1b\\u6b50\\u6d32\\u5404\\u570b\\u7684\\u6709\\u95dc\\u6e2c\\u8a66\\u5247\\u57282022\\u5e74\\u5c55\\u958b\\u3002\\u81f3\\u65bc\\u7f8e\\u570b\\uff0c\\u806f\\u90a6\\u5132\\u5099\\u5c40\\u4ea6\\u65bc\\u8fd1\\u5e74\\u6210\\u7acb\\u4e86\\u76f8\\u95dc\\u59d4\\u54e1\\u6703\\uff0c\\u64ec\\u65bc2023\\u81f32025\\u5e74\\u8981\\u6c42\\u91d1\\u878d\\u754c\\u5c07\\u6c23\\u5019\\u8b8a\\u5316\\u7d0d\\u5165\\u58d3\\u529b\\u6e2c\\u8a66\\u3002\\u65e5\\u672c\\u592e\\u884c\\u5247\\u63a8\\u51fa\\u65b0\\u7684\\u8cb8\\u6b3e\\u5de5\\u5177\\uff0c\\u63d0\\u4f9b\\u8cc7\\u91d1\\u652f\\u6301\\u6c23\\u5019\\u8b8a\\u5316\\u7684\\u9805\\u76ee\\u3002 \\u91d1\\u878d\\u6c23\\u5019\\u58d3\\u529b\\u6e2c\\u8a66\\u5be6\\u6709\\u52a9\\u65bc\\u91d1\\u878d\\u6a5f\\u69cb\\u638c\\u63e1\\u5728\\u6975\\u7aef\\u6c23\\u5019\\u4e0b\\uff0c\\u5176\\u8cc7\\u7522\\u53ef\\u80fd\\u8499\\u53d7\\u7684\\u640d\\u5931\\u3002\\u4f8b\\u5982\\u82f1\\u502b\\u9280\\u884c\\u4e00\\u4efd\\u5831\\u544a\\u63d0\\u53ca\\uff0c\\u5168\\u82f1\\u570b\\u7684\\u623f\\u8cb8\\u7269\\u696d\\u7d04\\u670910%\\u8655\\u65bc\\u5bb9\\u6613\\u6c34\\u6d78\\u5340\\u57df\\uff0c\\u56e0\\u6b64\\u5efa\\u8b70\\u5404\\u9280\\u884c\\u67e5\\u627e\\u623f\\u8cb8\\u62b5\\u62bc\\u54c1\\u4f4d\\u65bc\\u6c34\\u6d78\\u5340\\u7684\\u6bd4\\u4f8b\\uff0c\\u518d\\u6309\\u707d\\u60c5\\u4e0d\\u540c\\u7a0b\\u5ea6\\u9810\\u8a08\\u6240\\u6d89\\u640d\\u5931\\u3002 \\u7f8e\\u570b\\u9280\\u884c\\u5247\\u4ee55\\u7d1a\\u98b6\\u98a8\\u4f86\\u6a21\\u64ec\\u5176\\u623f\\u5730\\u7522\\u62b5\\u62bc\\u54c1\\u53ef\\u80fd\\u8499\\u53d7\\u7684\\u640d\\u5931\\u3002 \\u5168\\u65b9\\u4f4d\\u61c9\\u5c0d\\u7b56\\u7565 \\u4e8b\\u5be6\\u4e0a\\uff0c\\u76ee\\u524d\\u4e0d\\u4e4f\\u6df1\\u5165\\u63a2\\u8a0e\\u6c23\\u5019\\u8b8a\\u5316\\u5c0d\\u8ca8\\u5e63\\u653f\\u7b56\\u5f71\\u97ff\\u7684\\u7814\\u7a76\\u3002\\u82f1\\u502b\\u9280\\u884c\\u7684\\u5df4\\u6ed5\\uff08Sandra Batten\\uff09\\u8a8d\\u70ba\\uff0c\\u6c23\\u5019\\u8b8a\\u5316\\u5c07\\u589e\\u52a0\\u901a\\u8ca8\\u81a8\\u8139\\u53ca\\u7d93\\u6fdf\\u589e\\u9577\\u9810\\u6e2c\\u7684\\u4e0d\\u78ba\\u5b9a\\u6027\\uff0c\\u5f71\\u97ff\\u592e\\u884c\\u9054\\u6210\\u8ca8\\u5e63\\u7a69\\u5b9a\\u7684\\u76ee\\u6a19\\u653f\\u7b56\\u3002NGFS\\u7684\\u7814\\u7a76\\u767c\\u73fe\\uff0c\\u6975\\u7aef\\u6c23\\u5019\\u4e8b\\u4ef6\\u767c\\u751f\\u7684\\u983b\\u7387\\u8207\\u5f37\\u5ea6\\u589e\\u52a0\\uff0c\\u5c07\\u64f4\\u5927\\u901a\\u8ca8\\u81a8\\u8139\\u548c\\u91d1\\u878d\\u5e02\\u5834\\u50f9\\u683c\\u7684\\u6ce2\\u52d5\\u6027\\uff0c\\u524a\\u5f31\\u8ca8\\u5e63\\u653f\\u7b56\\u7684\\u57f7\\u884c\\u6548\\u679c\\uff0c\\u56e0\\u800c\\u5efa\\u8b70\\u628a\\u6c23\\u5019\\u8b8a\\u5316\\u98a8\\u96aa\\u7d0d\\u5165\\u592e\\u884c\\u8ca8\\u5e63\\u653f\\u7b56\\uff0c\\u6b64\\u8209\\u662f\\u5426\\u9069\\u7576\\uff0c\\u5404\\u754c\\u81f3\\u4eca\\u672a\\u6709\\u5b9a\\u8ad6\\u3002\\u9451\\u65bc\\u592e\\u884c\\u8ca8\\u5e63\\u653f\\u7b56\\u5de5\\u5177\\u6709\\u9650\\uff0c\\u96e3\\u4ee5\\u5145\\u5206\\u8986\\u84cb\\u4f4e\\u78b3\\u8f49\\u578b\\u98a8\\u96aa\\uff1b\\u53cd\\u89c0\\u8ca1\\u653f\\u653f\\u7b56\\u548c\\u91d1\\u878d\\u76e3\\u7ba1\\uff0c\\u56e0\\u5177\\u5099\\u8f03\\u591a\\u800c\\u5bcc\\u5f48\\u6027\\u7684\\u653f\\u7b56\\u5de5\\u5177\\uff0c\\u76f8\\u4fe1\\u66f4\\u53ef\\u767c\\u63ee\\u61c9\\u5c0d\\u6c23\\u5019\\u8b8a\\u5316\\u4e4b\\u6548\\u3002 \\u82e5\\u8981\\u6e96\\u78ba\\u8861\\u91cf\\u6c23\\u5019\\u8b8a\\u5316\\u6240\\u5e36\\u4f86\\u7684\\u91d1\\u878d\\u98a8\\u96aa\\uff0c\\u91d1\\u878d\\u696d\\u5c07\\u9762\\u81e84\\u9805\\u6311\\u6230\\uff1a\\u4e00\\u3001\\u5206\\u6790\\u6578\\u5341\\u5e74\\u4f86\\u5404\\u7a2e\\u6c23\\u5019\\u8def\\u5f91\\u7684\\u5f71\\u97ff\\uff1b\\u4e8c\\u3001\\u9577\\u671f\\u9810\\u6e2c\\u6709\\u6975\\u5927\\u7684\\u4e0d\\u78ba\\u5b9a\\u6027\\uff1b\\u4e09\\u3001\\u6c23\\u5019\\u6709\\u5730\\u57df\\u548c\\u7522\\u696d\\u5dee\\u7570\\uff0c\\u56e0\\u679c\\u95dc\\u4fc2\\u5404\\u6709\\u4e0d\\u540c\\uff1b\\u56db\\u3001\\u53ef\\u518d\\u751f\\u80fd\\u6e90\\u7b49\\u65b0\\u6280\\u8853\\u7684\\u51fa\\u73fe\\u8207\\u751f\\u6d3b\\u65b9\\u5f0f\\u7684\\u6539\\u8b8a\\u3002\\u662f\\u4ee5\\u91d1\\u878d\\u696d\\u5fc5\\u9808\\u904b\\u7528\\u5d84\\u65b0\\u7684\\u5206\\u6790\\u65b9\\u6cd5\\uff0c\\u91cd\\u65b0\\u601d\\u8003\\u6c23\\u5019\\u6578\\u64da\\u7684\\u7ba1\\u7406\\u8207\\u5206\\u6790\\u3001\\u5546\\u54c1\\u7d44\\u5408\\u98a8\\u96aa\\u3001\\u6c23\\u5019\\u98a8\\u96aa\\u60c5\\u666f\\u5047\\u8a2d\\u8207\\u6c23\\u5019\\u98a8\\u96aa\\u58d3\\u529b\\u6e2c\\u8a66\\uff0c\\u7d9c\\u5408\\u8a55\\u4f30\\u6c23\\u5019\\u8b8a\\u5316\\u7684\\u885d\\u64ca\\uff0c\\u5f9e\\u800c\\u638c\\u63e1\\u6f5b\\u5728\\u71df\\u904b\\u98a8\\u96aa\\uff0c\\u76f8\\u61c9\\u8abf\\u6574\\u98a8\\u96aa\\u63a7\\u5236\\u8207\\u71df\\u904b\\u7b56\\u7565\\u3002 \\u9762\\u5c0d\\u4f86\\u52e2\\u6d36\\u6d36\\u7684\\u6c23\\u5019\\u8b8a\\u5316\\uff0c\\u5168\\u7403\\u91d1\\u878d\\u696d\\u9808\\u5f9e\\u98a8\\u96aa\\u7ba1\\u7406\\u7684\\u89d2\\u5ea6\\u5236\\u5b9a\\u65b9\\u91dd\\uff0c\\u65b9\\u80fd\\u5316\\u5371\\u70ba\\u6a5f\\u3002\\u6b63\\u7576\\u5404\\u5730\\u7d93\\u6fdf\\u5f9e\\u75ab\\u60c5\\u4e2d\\u9678\\u7e8c\\u5fa9\\u7526\\uff0c\\u73fe\\u6642\\u6b63\\u662f\\u63a8\\u52d5\\u7da0\\u8272\\u8f49\\u578b\\u7684\\u95dc\\u9375\\u6642\\u523b\\u3002\\u5404\\u570b\\u653f\\u5e9c\\u7684\\u63d0\\u632f\\u7d93\\u6fdf\\u8a08\\u5283\\u4e0d\\u59a8\\u8207\\u76f8\\u95dc\\u7da0\\u8272\\u8f49\\u578b\\u7d50\\u5408\\uff0c\\u4ee5\\u8ca0\\u8cac\\u4efb\\u6295\\u8cc7\\u4f5c\\u70ba\\u5fa9\\u7526\\u57fa\\u790e\\uff0c\\u4e26\\u9032\\u884c\\u6709\\u52a9\\u7da0\\u8272\\u7d93\\u6fdf\\u767c\\u5c55\\u7684\\u7d50\\u69cb\\u6027\\u6539\\u9769\\u3002\\u91d1\\u878d\\u696d\\u5728\\u63d0\\u4f9b\\u4fe1\\u7528\\u6d41\\u52d5\\u6027\\u7684\\u540c\\u6642\\uff0c\\u4ea6\\u61c9\\u5584\\u7528\\u91d1\\u878d\\u8cc7\\u6e90\\uff0c\\u5f15\\u5c0e\\u7522\\u696d\\u9081\\u5411\\u74b0\\u5883\\u3001\\u793e\\u6703\\u53ca\\u7ba1\\u6cbb\\uff08ESG\\uff09\\u548c\\u6c38\\u7e8c\\u767c\\u5c55\\u3002 \\u3010\\u53c3\\u8003\\u6587\\u737b\\u3011 Bank for International Settlements \\uff082020\\uff09, \\\"The Green Swan: Central Banking and Financial Stability in the Age of Climate Change\\\". Bank for International Settlements\",\"inLanguage\":\"zh-HK\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/research\\\/thought-leadership\\\/hkej-column\\\/the-potential-turmoil-of-the-green-swan-in-finance\\\/#breadcrumblist\"},\"datePublished\":\"2023-08-30T10:13:06+08:00\",\"dateModified\":\"2023-09-06T17:45:20+08:00\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/#website\",\"url\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/\",\"name\":\"HKU Business School\",\"inLanguage\":\"zh-HK\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/tc\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40 - HKU Business School","description":"\u74b0\u9867\u4e16\u754c\u5404\u5730\uff0c\u6c23\u5019\u8b8a\u5316\u5c0e\u81f4\u81ea\u7136\u707d\u96e3\u983b\u751f\uff0c\u800c\u4e14\u7834\u58de\u529b\u6975\u5f37\uff0c\u885d\u64ca\u5404\u884c\u5404\u696d\uff0c\u5f71\u97ff\u7d93\u6fdf\u7a69\u5b9a\uff0c\u751a\u81f3\u5f15\u767c\u91d1\u878d\u5371\u6a5f\u3002 \u5927\u81ea\u7136\u8b66\u544a\u983b\u4ecd \u8fd110\u5e74\u4f86\uff0c\u5168\u7403\u7d93\u6fdf\u56e0\u6c23\u5019\u8b8a\u5316\u707d\u96e3\u800c\u8499\u53d7\u7684\u76f4\u63a5\u7d93\u6fdf\u640d\u5931\uff0c\u4f30\u8a08\u5e73\u5747\u6bcf\u5e74\u9ad8\u9054\u7d041.3\u842c\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u4e16\u754c\u672c\u5730\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u76840.2%\u5de6\u53f3\u30022018\u5e74\u52a0\u5dde\u68ee\u6797\u5927\u706b\u7684\u640d\u5931\u70ba3500\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u7576\u6642\u7f8e\u570bGDP\u76841.7%\u3002\u4e0a\u6708\u98b1\u98a8\u675c\u8607\u82ae\u76f4\u8972\u798f\u5efa\u7701\uff0c\u4ea6\u9020\u6210\u5343\u5104\u5143\u4eba\u6c11\u5e63\u7684\u640d\u5931\u3002 \u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54\u7684\u5c08\u5bb6Felix Suntheim\u548cJ\u00e9r\u00f4me Vandenbussche\u8a8d\u70ba\uff0c\u900f\u904e\u5728\u91d1\u878d\u9ad4\u7cfb\u4e2d\u767c\u63ee\u6838\u5fc3\u4f5c\u7528\u7684\u80a1\u7968\u5e02\u5834\uff0c\u53ef\u5206\u6790\u6c23\u5019\u8b8a\u5316\u5c0d\u91d1\u878d\u7a69\u5b9a\u7684\u5f71\u97ff\u3002\u904e\u53bb50\u5e74\u5167\u7d04350\u6b21\u5927\u898f\u6a21\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u4e2d\uff0c\u670910%\u5c0d\u7e3d\u9ad4\u5e02\u5834\u7684\u5f71\u97ff\u8d85\u904e14%\u3002\u4f8b\u59822011\u5e74\uff0c\u6cf0\u570b\u6c34\u707d\u5f15\u767c\u8a72\u570b\u80a1\u5e02\u572840\u5929\u5167\u5927\u8dcc30%\u3002 \u5929\u9d5d\u98a8\u96aa\u518d\u73fe 2020\u5e74\u570b\u969b\u6e05\u7b97\u9280\u884c\u767c\u8868\u300c\u7da0\u5929\u9d5d\u300d\u5831\u544a\uff0c\u6307\u51fa\u6c23\u5019\u8b8a\u5316\u52e2\u5c07\u6210\u70ba\u885d\u64ca\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u91cd\u8981\u98a8\u96aa\u3002\u7f8e\u570b\u7cbe\u7b97\u5e2b\u5b78\u6703\uff08Society of Actuaries\uff09\u6700\u8fd1\u671f\u767c\u8868\u7684\u65b0\u8208\u98a8\u96aa\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6c23\u5019\u98a8\u96aa\u75312019\u81f32022\u5e74\u671f\u9593\uff0c\u9023\u7e8c4\u5e74\u88ab\u8996\u70ba\u4e3b\u8981\u98a8\u96aa\u4e4b\u4e00\uff0c\u53ef\u5206\u70ba\u300c\u5be6\u9ad4\u300d\u8207\u300c\u8f49\u578b\u300d\u5169\u7a2e\u3002\u5be6\u9ad4\u98a8\u96aa\u662f\u6307\u6975\u7aef\u6c23\u5019\u9020\u6210\u751f\u547d\u8ca1\u7522\u640d\u5931\uff0c\u4f01\u696d\u6210\u672c\u589e\u52a0\u800c\u5229\u6f64\u6e1b\u5c11\uff0c\u589e\u52a0\u91d1\u878d\u696d\u904b\u4f5c\u7684\u6210\u672c\u8207\u98a8\u96aa\u3002\u8f49\u578b\u98a8\u96aa\u5247\u6307\u70ba\u4e86\u6e1b\u7de9\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u7684\u885d\u64ca\uff0c\u5404\u570b\u653f\u5e9c\u5be6\u65bd\u6e1b\u78b3\u653f\u7b56\uff0c\u5c07\u6703\u7a92\u7919\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u7d93\u71df\u3002\u5728\u4f01\u696d\u8cb8\u6b3e\u5408\u7d04\u4e2d\uff0c\u9ad8\u78b3\u6392\u653e\u6a5f\u5668\u8a2d\u5099\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u50f9\u503c\u5c07\u6703\u4e0b\u964d\uff0c\u800c\u63d0\u9ad8\u4fe1\u7528\u98a8\u96aa\uff1b\u8cb8\u6b3e\u7d66\u9019\u4e9b\u7522\u696d\u7684\u9280\u884c\u81ea\u7136\u9996\u7576\u5176\u885d\u3002 2017\u5e74\u6210\u7acb\u7684\u300c\u592e\u884c\u8207\u76e3\u7ba1\u6a5f\u69cb\u7da0\u8272\u91d1\u878d\u7db2\u7d61\u300d\uff08Network for Greening the Financial System\uff1b\u7c21\u7a31NGFS\uff09\uff0c\u5728\u51762020\u5e74\u7684\u5831\u544a\u4e2d\u6307\u51fa\uff0c\u82e5\u5168\u7403\u6696\u5316\u5931\u63a7\uff0c\u9810\u8a082100\u5e74\u5be6\u9ad4\u98a8\u96aa\u5c0dGDP\u7684\u640d\u5931\u6bd4\u7387\u5c07\u7d2f\u8a08\u905425%\u3002\u6b64\u5916\u9084\u6709\u8a31\u591a\u5be6\u9ad4\u98a8\u96aa\u7121\u6cd5\u7d0d\u5165\u8a55\u4f30\uff0c\u81f3\u65bc\u6d77\u5e73\u9762\u4e0a\u5347\u3001\u5929\u707d\u9020\u6210\u4eba\u53e3\u9077\u5f99\u3001\u5340\u57df\u885d\u7a81\u7b49\u9020\u6210\u7684\u640d\u5931\uff0c\u66f4\u5c1a\u672a\u7d0d\u5165\u8a08\u7b97\u4e4b\u4e2d\u3002\u99ac\u723e\u4ee3\u592b\u7b49\u5cf6\u570b\u7531\u65bc\u5883\u516780%\u7684\u9678\u5730\u9762\u7a4d\u6d77\u62d4\u9ad8\u5ea6\u4e0d\u52301\u7c73\uff0c\u56e0\u6b64\u96a8\u7740\u6d77\u5e73\u9762\u4e0a\u5347\uff0c\u4f30\u8a08\u6216\u6703\u57282100\u5e74\u4e4b\u5f8c\u5b8c\u5168\u9678\u6c89\u3002\u5168\u7403\u6696\u5316\u4ea6\u5f71\u97ff\u7ce7\u98df\u751f\u7522\uff0c\u82e5\u6c23\u6eab\u589e\u52a0\u651d\u6c0f2\u5ea6\uff0c\u71b1\u5e36\u5730\u5340\u5c0f\u9ea5\u6216\u6703\u6e1b\u752220%\u3002 \u6b0a\u8861\u98a8\u96aa\u8f15\u91cd \u7f8e\u570b\u91d1\u878d\u4f01\u696dMSCI\u57282021\u5e74\u57fa\u65bc\u4e0d\u540c\u60c5\u666f\u4e0b\uff0c\u8a55\u4f30\u7522\u696d\u53d7\u8f49\u578b\u98a8\u96aa\u885d\u64ca\u7684\u7a0b\u5ea6\u3002\u4f8b\u5982\u7576\u6eab\u5ea6\u589e\u9577\u53ef\u63a7\u5236\u5728\u651d\u6c0f1.5\u5ea6\uff0c\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u8f49\u578b\u98a8\u96aa\u8f03\u5927\uff0c\u6b50\u6d32\u7684\u80fd\u6e90\u516c\u53f8\u8cc7\u7522\u50f9\u503c\u5e73\u5747\u5c07\u5927\u6e1b67%\uff0c\u5275\u65b0\u7684\u4f4e\u78b3\u6280\u8853\u7522\u696d\u5247\u6703\u589e\u52a018%\u6536\u5165\u3002\u81f3\u65bc\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u96d6\u7136\u4e5f\u5c07\u8dcc\u8fd1\u516d\u6210\uff0c\u4f46\u4f4e\u78b3\u6280\u8853\u4ea6\u5c07\u70ba\u5176\u589e\u52a0\u56db\u6210\u6536\u5165\u3002 \u82e5\u6eab\u5ea6\u589e\u9577\u651d\u6c0f3\u5ea6\uff0c\u5404\u570b\u653f\u5e9c\u7684\u6e1b\u78b3\u653f\u7b56\u6216\u6703\u8f49\u8da8\u6d88\u6975\uff0c\u8f49\u578b\u98a8\u96aa\u5c0d\u5404\u7522\u696d\u8cc7\u7522\u50f9\u503c\u9020\u6210\u7684\u640d\u5931\u4fbf\u6703\u8f03\u5c0f\uff1b\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u5c07\u6e1b\u5c11\u7d04\u5169\u6210\uff0c\u537b\u56e0\u6e1b\u78b3\u8a98\u56e0\u4e0d\u8db3\uff0c\u5275\u65b0\u79d1\u6280\u5e36\u4f86\u7684\u65b0\u6536\u5165\u4e5f\u5c07\u5927\u5e45\u7e2e\u6e1b\u3002\u4ee5\u4e0a\u6578\u64da\u986f\u793a\uff0c\u8f49\u578b\u98a8\u96aa\u8207\u5be6\u9ad4\u98a8\u96aa\u662f\u7ff9\u7ff9\u677f\u7684\u5169\u7aef\uff0c\u70ba\u8ff4\u907f\u8f49\u578b\u98a8\u96aa\u800c\u4e0d\u9858\u7a4d\u6975\u6e1b\u78b3\uff0c\u96e3\u514d\u52a0\u5287\u5be6\u9ad4\u98a8\u96aa\u3002 \u65b0\u51a0\u80ba\u708e\u5927\u6d41\u884c\u4fc3\u4f7f\u91d1\u878d\u696d\u754c\u91cd\u65b0\u8a55\u4f30\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u4ee3\u50f9\u3002\u6839\u64da\u67cf\u541b\u54f2\uff08Michael Baldinger\uff092020\u5e74\u7684\u5206\u6790\uff0c\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6709\u4e09\u5927\u5171\u901a\u9ede\u3002\u7b2c\u4e00\uff0c\u65b0\u51a0\u80ba\u708e\u662f\u4e00\u5834\u53f2\u7121\u524d\u4f8b\u7684\u516c\u5171\u885b\u751f\u707d\u96e3\uff0c\u4e16\u754c\u5404\u570b\u56e0\u672a\u80fd\u53ca\u65e9\u9632\u7bc4\u800c\u5099\u53d7\u91cd\u5275\uff1b\u9762\u5c0d\u6c23\u5019\u8b8a\u9077\uff0c\u4ea6\u9808\u5f15\u4ee5\u70ba\u9451\u3002\u7b2c\u4e8c\uff0c\u75ab\u60c5\u7a81\u986f\u5728\u5168\u7403\u5316\u4e0b\uff0c\u8907\u96dc\u7684\u4f9b\u61c9\u93c8\u9762\u5c0d\u707d\u96e3\u6642\u5982\u4f55\u4e0d\u582a\u4e00\u64ca\uff1b\u6c23\u5019\u8b8a\u5316\u6240\u80fd\u7522\u751f\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u540c\u6a23\u8db3\u4ee5\u7671\u7613\u4e16\u754c\u7d93\u6fdf\u3002\u7b2c\u4e09\uff0c\u65b0\u51a0\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6240\u9020\u6210\u7684\u885d\u64ca\u96d6\u6709\u7de9\u6025\u4e4b\u5225\uff0c\u4f46\u82e5\u6709\u95dc\u7576\u5c40\u61c9\u5c0d\u75ab\u60c5\u4e0d\u529b\uff0c\u4ee5\u81f4\u6c23\u5019\u98a8\u96aa\u5931\u63a7\uff0c\u5f8c\u679c\u4e0d\u582a\u8a2d\u60f3\u3002 \u6a21\u64ec\u5f0f\u58d3\u529b\u6e2c\u8a66 \u6839\u64da\u570b\u969b\u6e05\u7b97\u9280\u884c\u7684\u7814\u7a76\uff0c\u4e0b\u4e00\u500b\u7cfb\u7d71\u6027\u91d1\u878d\u98a8\u96aa\u53ef\u80fd\u6e90\u81ea\u6c23\u5019\u885d\u64ca\uff0c\u56e0\u6b64\u76e3\u7ba1\u6a5f\u95dc\u6709\u8cac\u4efb\u8981\u6c42\u91d1\u878d\u6a5f\u69cb\u8a55\u4f30\u4e26\u63ed\u9732\u5176\u6c23\u5019\u98a8\u96aa\u3002\u70ba\u6b64\uff0c\u6cd5\u3001\u82f1\u5169\u570b\u7684\u4e2d\u592e\u9280\u884c\u57282021\u5e74\u7387\u5148\u5c0d\u672c\u570b\u7684\u91d1\u878d\u6a5f\u69cb\u548c\u7cfb\u7d71\u555f\u52d5\u6c23\u5019\u8b8a\u5316\u58d3\u529b\u6e2c\u8a66\uff1b\u6b50\u6d32\u5404\u570b\u7684\u6709\u95dc\u6e2c\u8a66\u5247\u57282022\u5e74\u5c55\u958b\u3002\u81f3\u65bc\u7f8e\u570b\uff0c\u806f\u90a6\u5132\u5099\u5c40\u4ea6\u65bc\u8fd1\u5e74\u6210\u7acb\u4e86\u76f8\u95dc\u59d4\u54e1\u6703\uff0c\u64ec\u65bc2023\u81f32025\u5e74\u8981\u6c42\u91d1\u878d\u754c\u5c07\u6c23\u5019\u8b8a\u5316\u7d0d\u5165\u58d3\u529b\u6e2c\u8a66\u3002\u65e5\u672c\u592e\u884c\u5247\u63a8\u51fa\u65b0\u7684\u8cb8\u6b3e\u5de5\u5177\uff0c\u63d0\u4f9b\u8cc7\u91d1\u652f\u6301\u6c23\u5019\u8b8a\u5316\u7684\u9805\u76ee\u3002 \u91d1\u878d\u6c23\u5019\u58d3\u529b\u6e2c\u8a66\u5be6\u6709\u52a9\u65bc\u91d1\u878d\u6a5f\u69cb\u638c\u63e1\u5728\u6975\u7aef\u6c23\u5019\u4e0b\uff0c\u5176\u8cc7\u7522\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002\u4f8b\u5982\u82f1\u502b\u9280\u884c\u4e00\u4efd\u5831\u544a\u63d0\u53ca\uff0c\u5168\u82f1\u570b\u7684\u623f\u8cb8\u7269\u696d\u7d04\u670910%\u8655\u65bc\u5bb9\u6613\u6c34\u6d78\u5340\u57df\uff0c\u56e0\u6b64\u5efa\u8b70\u5404\u9280\u884c\u67e5\u627e\u623f\u8cb8\u62b5\u62bc\u54c1\u4f4d\u65bc\u6c34\u6d78\u5340\u7684\u6bd4\u4f8b\uff0c\u518d\u6309\u707d\u60c5\u4e0d\u540c\u7a0b\u5ea6\u9810\u8a08\u6240\u6d89\u640d\u5931\u3002 \u7f8e\u570b\u9280\u884c\u5247\u4ee55\u7d1a\u98b6\u98a8\u4f86\u6a21\u64ec\u5176\u623f\u5730\u7522\u62b5\u62bc\u54c1\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002 \u5168\u65b9\u4f4d\u61c9\u5c0d\u7b56\u7565 \u4e8b\u5be6\u4e0a\uff0c\u76ee\u524d\u4e0d\u4e4f\u6df1\u5165\u63a2\u8a0e\u6c23\u5019\u8b8a\u5316\u5c0d\u8ca8\u5e63\u653f\u7b56\u5f71\u97ff\u7684\u7814\u7a76\u3002\u82f1\u502b\u9280\u884c\u7684\u5df4\u6ed5\uff08Sandra Batten\uff09\u8a8d\u70ba\uff0c\u6c23\u5019\u8b8a\u5316\u5c07\u589e\u52a0\u901a\u8ca8\u81a8\u8139\u53ca\u7d93\u6fdf\u589e\u9577\u9810\u6e2c\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5f71\u97ff\u592e\u884c\u9054\u6210\u8ca8\u5e63\u7a69\u5b9a\u7684\u76ee\u6a19\u653f\u7b56\u3002NGFS\u7684\u7814\u7a76\u767c\u73fe\uff0c\u6975\u7aef\u6c23\u5019\u4e8b\u4ef6\u767c\u751f\u7684\u983b\u7387\u8207\u5f37\u5ea6\u589e\u52a0\uff0c\u5c07\u64f4\u5927\u901a\u8ca8\u81a8\u8139\u548c\u91d1\u878d\u5e02\u5834\u50f9\u683c\u7684\u6ce2\u52d5\u6027\uff0c\u524a\u5f31\u8ca8\u5e63\u653f\u7b56\u7684\u57f7\u884c\u6548\u679c\uff0c\u56e0\u800c\u5efa\u8b70\u628a\u6c23\u5019\u8b8a\u5316\u98a8\u96aa\u7d0d\u5165\u592e\u884c\u8ca8\u5e63\u653f\u7b56\uff0c\u6b64\u8209\u662f\u5426\u9069\u7576\uff0c\u5404\u754c\u81f3\u4eca\u672a\u6709\u5b9a\u8ad6\u3002\u9451\u65bc\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u5de5\u5177\u6709\u9650\uff0c\u96e3\u4ee5\u5145\u5206\u8986\u84cb\u4f4e\u78b3\u8f49\u578b\u98a8\u96aa\uff1b\u53cd\u89c0\u8ca1\u653f\u653f\u7b56\u548c\u91d1\u878d\u76e3\u7ba1\uff0c\u56e0\u5177\u5099\u8f03\u591a\u800c\u5bcc\u5f48\u6027\u7684\u653f\u7b56\u5de5\u5177\uff0c\u76f8\u4fe1\u66f4\u53ef\u767c\u63ee\u61c9\u5c0d\u6c23\u5019\u8b8a\u5316\u4e4b\u6548\u3002 \u82e5\u8981\u6e96\u78ba\u8861\u91cf\u6c23\u5019\u8b8a\u5316\u6240\u5e36\u4f86\u7684\u91d1\u878d\u98a8\u96aa\uff0c\u91d1\u878d\u696d\u5c07\u9762\u81e84\u9805\u6311\u6230\uff1a\u4e00\u3001\u5206\u6790\u6578\u5341\u5e74\u4f86\u5404\u7a2e\u6c23\u5019\u8def\u5f91\u7684\u5f71\u97ff\uff1b\u4e8c\u3001\u9577\u671f\u9810\u6e2c\u6709\u6975\u5927\u7684\u4e0d\u78ba\u5b9a\u6027\uff1b\u4e09\u3001\u6c23\u5019\u6709\u5730\u57df\u548c\u7522\u696d\u5dee\u7570\uff0c\u56e0\u679c\u95dc\u4fc2\u5404\u6709\u4e0d\u540c\uff1b\u56db\u3001\u53ef\u518d\u751f\u80fd\u6e90\u7b49\u65b0\u6280\u8853\u7684\u51fa\u73fe\u8207\u751f\u6d3b\u65b9\u5f0f\u7684\u6539\u8b8a\u3002\u662f\u4ee5\u91d1\u878d\u696d\u5fc5\u9808\u904b\u7528\u5d84\u65b0\u7684\u5206\u6790\u65b9\u6cd5\uff0c\u91cd\u65b0\u601d\u8003\u6c23\u5019\u6578\u64da\u7684\u7ba1\u7406\u8207\u5206\u6790\u3001\u5546\u54c1\u7d44\u5408\u98a8\u96aa\u3001\u6c23\u5019\u98a8\u96aa\u60c5\u666f\u5047\u8a2d\u8207\u6c23\u5019\u98a8\u96aa\u58d3\u529b\u6e2c\u8a66\uff0c\u7d9c\u5408\u8a55\u4f30\u6c23\u5019\u8b8a\u5316\u7684\u885d\u64ca\uff0c\u5f9e\u800c\u638c\u63e1\u6f5b\u5728\u71df\u904b\u98a8\u96aa\uff0c\u76f8\u61c9\u8abf\u6574\u98a8\u96aa\u63a7\u5236\u8207\u71df\u904b\u7b56\u7565\u3002 \u9762\u5c0d\u4f86\u52e2\u6d36\u6d36\u7684\u6c23\u5019\u8b8a\u5316\uff0c\u5168\u7403\u91d1\u878d\u696d\u9808\u5f9e\u98a8\u96aa\u7ba1\u7406\u7684\u89d2\u5ea6\u5236\u5b9a\u65b9\u91dd\uff0c\u65b9\u80fd\u5316\u5371\u70ba\u6a5f\u3002\u6b63\u7576\u5404\u5730\u7d93\u6fdf\u5f9e\u75ab\u60c5\u4e2d\u9678\u7e8c\u5fa9\u7526\uff0c\u73fe\u6642\u6b63\u662f\u63a8\u52d5\u7da0\u8272\u8f49\u578b\u7684\u95dc\u9375\u6642\u523b\u3002\u5404\u570b\u653f\u5e9c\u7684\u63d0\u632f\u7d93\u6fdf\u8a08\u5283\u4e0d\u59a8\u8207\u76f8\u95dc\u7da0\u8272\u8f49\u578b\u7d50\u5408\uff0c\u4ee5\u8ca0\u8cac\u4efb\u6295\u8cc7\u4f5c\u70ba\u5fa9\u7526\u57fa\u790e\uff0c\u4e26\u9032\u884c\u6709\u52a9\u7da0\u8272\u7d93\u6fdf\u767c\u5c55\u7684\u7d50\u69cb\u6027\u6539\u9769\u3002\u91d1\u878d\u696d\u5728\u63d0\u4f9b\u4fe1\u7528\u6d41\u52d5\u6027\u7684\u540c\u6642\uff0c\u4ea6\u61c9\u5584\u7528\u91d1\u878d\u8cc7\u6e90\uff0c\u5f15\u5c0e\u7522\u696d\u9081\u5411\u74b0\u5883\u3001\u793e\u6703\u53ca\u7ba1\u6cbb\uff08ESG\uff09\u548c\u6c38\u7e8c\u767c\u5c55\u3002 \u3010\u53c3\u8003\u6587\u737b\u3011 Bank for International Settlements \uff082020\uff09, \"The Green Swan: Central Banking and Financial Stability in the Age of Climate Change\". Bank for International Settlements","canonical_url":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/","robots":"max-image-preview:large","keywords":"","webmasterTools":{"google-site-verification":"google-site-verification=MjdkluDgHpNk2vz5slbwER2Gusw2rUDQuVULMERWzLo","miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/tc\/#listItem","position":1,"name":"Home","item":"https:\/\/www.hkubs.hku.hk\/tc\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/tc\/thought-leadership\/hkej-column-tc\/#listItem","name":"\u9f8d\u864e\u5c71\u4e0b"}},{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/tc\/thought-leadership\/hkej-column-tc\/#listItem","position":2,"name":"\u9f8d\u864e\u5c71\u4e0b","item":"https:\/\/www.hkubs.hku.hk\/tc\/thought-leadership\/hkej-column-tc\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/#listItem","name":"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40"},"previousItem":{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/tc\/#listItem","name":"Home"}},{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/#listItem","position":3,"name":"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40","previousItem":{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/tc\/thought-leadership\/hkej-column-tc\/#listItem","name":"\u9f8d\u864e\u5c71\u4e0b"}}]},{"@type":"Organization","@id":"https:\/\/www.hkubs.hku.hk\/tc\/#organization","name":"HKU Business School","url":"https:\/\/www.hkubs.hku.hk\/tc\/"},{"@type":"WebPage","@id":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/#webpage","url":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/","name":"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40 - HKU Business School","description":"\u74b0\u9867\u4e16\u754c\u5404\u5730\uff0c\u6c23\u5019\u8b8a\u5316\u5c0e\u81f4\u81ea\u7136\u707d\u96e3\u983b\u751f\uff0c\u800c\u4e14\u7834\u58de\u529b\u6975\u5f37\uff0c\u885d\u64ca\u5404\u884c\u5404\u696d\uff0c\u5f71\u97ff\u7d93\u6fdf\u7a69\u5b9a\uff0c\u751a\u81f3\u5f15\u767c\u91d1\u878d\u5371\u6a5f\u3002 \u5927\u81ea\u7136\u8b66\u544a\u983b\u4ecd \u8fd110\u5e74\u4f86\uff0c\u5168\u7403\u7d93\u6fdf\u56e0\u6c23\u5019\u8b8a\u5316\u707d\u96e3\u800c\u8499\u53d7\u7684\u76f4\u63a5\u7d93\u6fdf\u640d\u5931\uff0c\u4f30\u8a08\u5e73\u5747\u6bcf\u5e74\u9ad8\u9054\u7d041.3\u842c\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u4e16\u754c\u672c\u5730\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u76840.2%\u5de6\u53f3\u30022018\u5e74\u52a0\u5dde\u68ee\u6797\u5927\u706b\u7684\u640d\u5931\u70ba3500\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u7576\u6642\u7f8e\u570bGDP\u76841.7%\u3002\u4e0a\u6708\u98b1\u98a8\u675c\u8607\u82ae\u76f4\u8972\u798f\u5efa\u7701\uff0c\u4ea6\u9020\u6210\u5343\u5104\u5143\u4eba\u6c11\u5e63\u7684\u640d\u5931\u3002 \u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54\u7684\u5c08\u5bb6Felix Suntheim\u548cJ\u00e9r\u00f4me Vandenbussche\u8a8d\u70ba\uff0c\u900f\u904e\u5728\u91d1\u878d\u9ad4\u7cfb\u4e2d\u767c\u63ee\u6838\u5fc3\u4f5c\u7528\u7684\u80a1\u7968\u5e02\u5834\uff0c\u53ef\u5206\u6790\u6c23\u5019\u8b8a\u5316\u5c0d\u91d1\u878d\u7a69\u5b9a\u7684\u5f71\u97ff\u3002\u904e\u53bb50\u5e74\u5167\u7d04350\u6b21\u5927\u898f\u6a21\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u4e2d\uff0c\u670910%\u5c0d\u7e3d\u9ad4\u5e02\u5834\u7684\u5f71\u97ff\u8d85\u904e14%\u3002\u4f8b\u59822011\u5e74\uff0c\u6cf0\u570b\u6c34\u707d\u5f15\u767c\u8a72\u570b\u80a1\u5e02\u572840\u5929\u5167\u5927\u8dcc30%\u3002 \u5929\u9d5d\u98a8\u96aa\u518d\u73fe 2020\u5e74\u570b\u969b\u6e05\u7b97\u9280\u884c\u767c\u8868\u300c\u7da0\u5929\u9d5d\u300d\u5831\u544a\uff0c\u6307\u51fa\u6c23\u5019\u8b8a\u5316\u52e2\u5c07\u6210\u70ba\u885d\u64ca\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u91cd\u8981\u98a8\u96aa\u3002\u7f8e\u570b\u7cbe\u7b97\u5e2b\u5b78\u6703\uff08Society of Actuaries\uff09\u6700\u8fd1\u671f\u767c\u8868\u7684\u65b0\u8208\u98a8\u96aa\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6c23\u5019\u98a8\u96aa\u75312019\u81f32022\u5e74\u671f\u9593\uff0c\u9023\u7e8c4\u5e74\u88ab\u8996\u70ba\u4e3b\u8981\u98a8\u96aa\u4e4b\u4e00\uff0c\u53ef\u5206\u70ba\u300c\u5be6\u9ad4\u300d\u8207\u300c\u8f49\u578b\u300d\u5169\u7a2e\u3002\u5be6\u9ad4\u98a8\u96aa\u662f\u6307\u6975\u7aef\u6c23\u5019\u9020\u6210\u751f\u547d\u8ca1\u7522\u640d\u5931\uff0c\u4f01\u696d\u6210\u672c\u589e\u52a0\u800c\u5229\u6f64\u6e1b\u5c11\uff0c\u589e\u52a0\u91d1\u878d\u696d\u904b\u4f5c\u7684\u6210\u672c\u8207\u98a8\u96aa\u3002\u8f49\u578b\u98a8\u96aa\u5247\u6307\u70ba\u4e86\u6e1b\u7de9\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u7684\u885d\u64ca\uff0c\u5404\u570b\u653f\u5e9c\u5be6\u65bd\u6e1b\u78b3\u653f\u7b56\uff0c\u5c07\u6703\u7a92\u7919\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u7d93\u71df\u3002\u5728\u4f01\u696d\u8cb8\u6b3e\u5408\u7d04\u4e2d\uff0c\u9ad8\u78b3\u6392\u653e\u6a5f\u5668\u8a2d\u5099\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u50f9\u503c\u5c07\u6703\u4e0b\u964d\uff0c\u800c\u63d0\u9ad8\u4fe1\u7528\u98a8\u96aa\uff1b\u8cb8\u6b3e\u7d66\u9019\u4e9b\u7522\u696d\u7684\u9280\u884c\u81ea\u7136\u9996\u7576\u5176\u885d\u3002 2017\u5e74\u6210\u7acb\u7684\u300c\u592e\u884c\u8207\u76e3\u7ba1\u6a5f\u69cb\u7da0\u8272\u91d1\u878d\u7db2\u7d61\u300d\uff08Network for Greening the Financial System\uff1b\u7c21\u7a31NGFS\uff09\uff0c\u5728\u51762020\u5e74\u7684\u5831\u544a\u4e2d\u6307\u51fa\uff0c\u82e5\u5168\u7403\u6696\u5316\u5931\u63a7\uff0c\u9810\u8a082100\u5e74\u5be6\u9ad4\u98a8\u96aa\u5c0dGDP\u7684\u640d\u5931\u6bd4\u7387\u5c07\u7d2f\u8a08\u905425%\u3002\u6b64\u5916\u9084\u6709\u8a31\u591a\u5be6\u9ad4\u98a8\u96aa\u7121\u6cd5\u7d0d\u5165\u8a55\u4f30\uff0c\u81f3\u65bc\u6d77\u5e73\u9762\u4e0a\u5347\u3001\u5929\u707d\u9020\u6210\u4eba\u53e3\u9077\u5f99\u3001\u5340\u57df\u885d\u7a81\u7b49\u9020\u6210\u7684\u640d\u5931\uff0c\u66f4\u5c1a\u672a\u7d0d\u5165\u8a08\u7b97\u4e4b\u4e2d\u3002\u99ac\u723e\u4ee3\u592b\u7b49\u5cf6\u570b\u7531\u65bc\u5883\u516780%\u7684\u9678\u5730\u9762\u7a4d\u6d77\u62d4\u9ad8\u5ea6\u4e0d\u52301\u7c73\uff0c\u56e0\u6b64\u96a8\u7740\u6d77\u5e73\u9762\u4e0a\u5347\uff0c\u4f30\u8a08\u6216\u6703\u57282100\u5e74\u4e4b\u5f8c\u5b8c\u5168\u9678\u6c89\u3002\u5168\u7403\u6696\u5316\u4ea6\u5f71\u97ff\u7ce7\u98df\u751f\u7522\uff0c\u82e5\u6c23\u6eab\u589e\u52a0\u651d\u6c0f2\u5ea6\uff0c\u71b1\u5e36\u5730\u5340\u5c0f\u9ea5\u6216\u6703\u6e1b\u752220%\u3002 \u6b0a\u8861\u98a8\u96aa\u8f15\u91cd \u7f8e\u570b\u91d1\u878d\u4f01\u696dMSCI\u57282021\u5e74\u57fa\u65bc\u4e0d\u540c\u60c5\u666f\u4e0b\uff0c\u8a55\u4f30\u7522\u696d\u53d7\u8f49\u578b\u98a8\u96aa\u885d\u64ca\u7684\u7a0b\u5ea6\u3002\u4f8b\u5982\u7576\u6eab\u5ea6\u589e\u9577\u53ef\u63a7\u5236\u5728\u651d\u6c0f1.5\u5ea6\uff0c\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u8f49\u578b\u98a8\u96aa\u8f03\u5927\uff0c\u6b50\u6d32\u7684\u80fd\u6e90\u516c\u53f8\u8cc7\u7522\u50f9\u503c\u5e73\u5747\u5c07\u5927\u6e1b67%\uff0c\u5275\u65b0\u7684\u4f4e\u78b3\u6280\u8853\u7522\u696d\u5247\u6703\u589e\u52a018%\u6536\u5165\u3002\u81f3\u65bc\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u96d6\u7136\u4e5f\u5c07\u8dcc\u8fd1\u516d\u6210\uff0c\u4f46\u4f4e\u78b3\u6280\u8853\u4ea6\u5c07\u70ba\u5176\u589e\u52a0\u56db\u6210\u6536\u5165\u3002 \u82e5\u6eab\u5ea6\u589e\u9577\u651d\u6c0f3\u5ea6\uff0c\u5404\u570b\u653f\u5e9c\u7684\u6e1b\u78b3\u653f\u7b56\u6216\u6703\u8f49\u8da8\u6d88\u6975\uff0c\u8f49\u578b\u98a8\u96aa\u5c0d\u5404\u7522\u696d\u8cc7\u7522\u50f9\u503c\u9020\u6210\u7684\u640d\u5931\u4fbf\u6703\u8f03\u5c0f\uff1b\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u5c07\u6e1b\u5c11\u7d04\u5169\u6210\uff0c\u537b\u56e0\u6e1b\u78b3\u8a98\u56e0\u4e0d\u8db3\uff0c\u5275\u65b0\u79d1\u6280\u5e36\u4f86\u7684\u65b0\u6536\u5165\u4e5f\u5c07\u5927\u5e45\u7e2e\u6e1b\u3002\u4ee5\u4e0a\u6578\u64da\u986f\u793a\uff0c\u8f49\u578b\u98a8\u96aa\u8207\u5be6\u9ad4\u98a8\u96aa\u662f\u7ff9\u7ff9\u677f\u7684\u5169\u7aef\uff0c\u70ba\u8ff4\u907f\u8f49\u578b\u98a8\u96aa\u800c\u4e0d\u9858\u7a4d\u6975\u6e1b\u78b3\uff0c\u96e3\u514d\u52a0\u5287\u5be6\u9ad4\u98a8\u96aa\u3002 \u65b0\u51a0\u80ba\u708e\u5927\u6d41\u884c\u4fc3\u4f7f\u91d1\u878d\u696d\u754c\u91cd\u65b0\u8a55\u4f30\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u4ee3\u50f9\u3002\u6839\u64da\u67cf\u541b\u54f2\uff08Michael Baldinger\uff092020\u5e74\u7684\u5206\u6790\uff0c\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6709\u4e09\u5927\u5171\u901a\u9ede\u3002\u7b2c\u4e00\uff0c\u65b0\u51a0\u80ba\u708e\u662f\u4e00\u5834\u53f2\u7121\u524d\u4f8b\u7684\u516c\u5171\u885b\u751f\u707d\u96e3\uff0c\u4e16\u754c\u5404\u570b\u56e0\u672a\u80fd\u53ca\u65e9\u9632\u7bc4\u800c\u5099\u53d7\u91cd\u5275\uff1b\u9762\u5c0d\u6c23\u5019\u8b8a\u9077\uff0c\u4ea6\u9808\u5f15\u4ee5\u70ba\u9451\u3002\u7b2c\u4e8c\uff0c\u75ab\u60c5\u7a81\u986f\u5728\u5168\u7403\u5316\u4e0b\uff0c\u8907\u96dc\u7684\u4f9b\u61c9\u93c8\u9762\u5c0d\u707d\u96e3\u6642\u5982\u4f55\u4e0d\u582a\u4e00\u64ca\uff1b\u6c23\u5019\u8b8a\u5316\u6240\u80fd\u7522\u751f\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u540c\u6a23\u8db3\u4ee5\u7671\u7613\u4e16\u754c\u7d93\u6fdf\u3002\u7b2c\u4e09\uff0c\u65b0\u51a0\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6240\u9020\u6210\u7684\u885d\u64ca\u96d6\u6709\u7de9\u6025\u4e4b\u5225\uff0c\u4f46\u82e5\u6709\u95dc\u7576\u5c40\u61c9\u5c0d\u75ab\u60c5\u4e0d\u529b\uff0c\u4ee5\u81f4\u6c23\u5019\u98a8\u96aa\u5931\u63a7\uff0c\u5f8c\u679c\u4e0d\u582a\u8a2d\u60f3\u3002 \u6a21\u64ec\u5f0f\u58d3\u529b\u6e2c\u8a66 \u6839\u64da\u570b\u969b\u6e05\u7b97\u9280\u884c\u7684\u7814\u7a76\uff0c\u4e0b\u4e00\u500b\u7cfb\u7d71\u6027\u91d1\u878d\u98a8\u96aa\u53ef\u80fd\u6e90\u81ea\u6c23\u5019\u885d\u64ca\uff0c\u56e0\u6b64\u76e3\u7ba1\u6a5f\u95dc\u6709\u8cac\u4efb\u8981\u6c42\u91d1\u878d\u6a5f\u69cb\u8a55\u4f30\u4e26\u63ed\u9732\u5176\u6c23\u5019\u98a8\u96aa\u3002\u70ba\u6b64\uff0c\u6cd5\u3001\u82f1\u5169\u570b\u7684\u4e2d\u592e\u9280\u884c\u57282021\u5e74\u7387\u5148\u5c0d\u672c\u570b\u7684\u91d1\u878d\u6a5f\u69cb\u548c\u7cfb\u7d71\u555f\u52d5\u6c23\u5019\u8b8a\u5316\u58d3\u529b\u6e2c\u8a66\uff1b\u6b50\u6d32\u5404\u570b\u7684\u6709\u95dc\u6e2c\u8a66\u5247\u57282022\u5e74\u5c55\u958b\u3002\u81f3\u65bc\u7f8e\u570b\uff0c\u806f\u90a6\u5132\u5099\u5c40\u4ea6\u65bc\u8fd1\u5e74\u6210\u7acb\u4e86\u76f8\u95dc\u59d4\u54e1\u6703\uff0c\u64ec\u65bc2023\u81f32025\u5e74\u8981\u6c42\u91d1\u878d\u754c\u5c07\u6c23\u5019\u8b8a\u5316\u7d0d\u5165\u58d3\u529b\u6e2c\u8a66\u3002\u65e5\u672c\u592e\u884c\u5247\u63a8\u51fa\u65b0\u7684\u8cb8\u6b3e\u5de5\u5177\uff0c\u63d0\u4f9b\u8cc7\u91d1\u652f\u6301\u6c23\u5019\u8b8a\u5316\u7684\u9805\u76ee\u3002 \u91d1\u878d\u6c23\u5019\u58d3\u529b\u6e2c\u8a66\u5be6\u6709\u52a9\u65bc\u91d1\u878d\u6a5f\u69cb\u638c\u63e1\u5728\u6975\u7aef\u6c23\u5019\u4e0b\uff0c\u5176\u8cc7\u7522\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002\u4f8b\u5982\u82f1\u502b\u9280\u884c\u4e00\u4efd\u5831\u544a\u63d0\u53ca\uff0c\u5168\u82f1\u570b\u7684\u623f\u8cb8\u7269\u696d\u7d04\u670910%\u8655\u65bc\u5bb9\u6613\u6c34\u6d78\u5340\u57df\uff0c\u56e0\u6b64\u5efa\u8b70\u5404\u9280\u884c\u67e5\u627e\u623f\u8cb8\u62b5\u62bc\u54c1\u4f4d\u65bc\u6c34\u6d78\u5340\u7684\u6bd4\u4f8b\uff0c\u518d\u6309\u707d\u60c5\u4e0d\u540c\u7a0b\u5ea6\u9810\u8a08\u6240\u6d89\u640d\u5931\u3002 \u7f8e\u570b\u9280\u884c\u5247\u4ee55\u7d1a\u98b6\u98a8\u4f86\u6a21\u64ec\u5176\u623f\u5730\u7522\u62b5\u62bc\u54c1\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002 \u5168\u65b9\u4f4d\u61c9\u5c0d\u7b56\u7565 \u4e8b\u5be6\u4e0a\uff0c\u76ee\u524d\u4e0d\u4e4f\u6df1\u5165\u63a2\u8a0e\u6c23\u5019\u8b8a\u5316\u5c0d\u8ca8\u5e63\u653f\u7b56\u5f71\u97ff\u7684\u7814\u7a76\u3002\u82f1\u502b\u9280\u884c\u7684\u5df4\u6ed5\uff08Sandra Batten\uff09\u8a8d\u70ba\uff0c\u6c23\u5019\u8b8a\u5316\u5c07\u589e\u52a0\u901a\u8ca8\u81a8\u8139\u53ca\u7d93\u6fdf\u589e\u9577\u9810\u6e2c\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5f71\u97ff\u592e\u884c\u9054\u6210\u8ca8\u5e63\u7a69\u5b9a\u7684\u76ee\u6a19\u653f\u7b56\u3002NGFS\u7684\u7814\u7a76\u767c\u73fe\uff0c\u6975\u7aef\u6c23\u5019\u4e8b\u4ef6\u767c\u751f\u7684\u983b\u7387\u8207\u5f37\u5ea6\u589e\u52a0\uff0c\u5c07\u64f4\u5927\u901a\u8ca8\u81a8\u8139\u548c\u91d1\u878d\u5e02\u5834\u50f9\u683c\u7684\u6ce2\u52d5\u6027\uff0c\u524a\u5f31\u8ca8\u5e63\u653f\u7b56\u7684\u57f7\u884c\u6548\u679c\uff0c\u56e0\u800c\u5efa\u8b70\u628a\u6c23\u5019\u8b8a\u5316\u98a8\u96aa\u7d0d\u5165\u592e\u884c\u8ca8\u5e63\u653f\u7b56\uff0c\u6b64\u8209\u662f\u5426\u9069\u7576\uff0c\u5404\u754c\u81f3\u4eca\u672a\u6709\u5b9a\u8ad6\u3002\u9451\u65bc\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u5de5\u5177\u6709\u9650\uff0c\u96e3\u4ee5\u5145\u5206\u8986\u84cb\u4f4e\u78b3\u8f49\u578b\u98a8\u96aa\uff1b\u53cd\u89c0\u8ca1\u653f\u653f\u7b56\u548c\u91d1\u878d\u76e3\u7ba1\uff0c\u56e0\u5177\u5099\u8f03\u591a\u800c\u5bcc\u5f48\u6027\u7684\u653f\u7b56\u5de5\u5177\uff0c\u76f8\u4fe1\u66f4\u53ef\u767c\u63ee\u61c9\u5c0d\u6c23\u5019\u8b8a\u5316\u4e4b\u6548\u3002 \u82e5\u8981\u6e96\u78ba\u8861\u91cf\u6c23\u5019\u8b8a\u5316\u6240\u5e36\u4f86\u7684\u91d1\u878d\u98a8\u96aa\uff0c\u91d1\u878d\u696d\u5c07\u9762\u81e84\u9805\u6311\u6230\uff1a\u4e00\u3001\u5206\u6790\u6578\u5341\u5e74\u4f86\u5404\u7a2e\u6c23\u5019\u8def\u5f91\u7684\u5f71\u97ff\uff1b\u4e8c\u3001\u9577\u671f\u9810\u6e2c\u6709\u6975\u5927\u7684\u4e0d\u78ba\u5b9a\u6027\uff1b\u4e09\u3001\u6c23\u5019\u6709\u5730\u57df\u548c\u7522\u696d\u5dee\u7570\uff0c\u56e0\u679c\u95dc\u4fc2\u5404\u6709\u4e0d\u540c\uff1b\u56db\u3001\u53ef\u518d\u751f\u80fd\u6e90\u7b49\u65b0\u6280\u8853\u7684\u51fa\u73fe\u8207\u751f\u6d3b\u65b9\u5f0f\u7684\u6539\u8b8a\u3002\u662f\u4ee5\u91d1\u878d\u696d\u5fc5\u9808\u904b\u7528\u5d84\u65b0\u7684\u5206\u6790\u65b9\u6cd5\uff0c\u91cd\u65b0\u601d\u8003\u6c23\u5019\u6578\u64da\u7684\u7ba1\u7406\u8207\u5206\u6790\u3001\u5546\u54c1\u7d44\u5408\u98a8\u96aa\u3001\u6c23\u5019\u98a8\u96aa\u60c5\u666f\u5047\u8a2d\u8207\u6c23\u5019\u98a8\u96aa\u58d3\u529b\u6e2c\u8a66\uff0c\u7d9c\u5408\u8a55\u4f30\u6c23\u5019\u8b8a\u5316\u7684\u885d\u64ca\uff0c\u5f9e\u800c\u638c\u63e1\u6f5b\u5728\u71df\u904b\u98a8\u96aa\uff0c\u76f8\u61c9\u8abf\u6574\u98a8\u96aa\u63a7\u5236\u8207\u71df\u904b\u7b56\u7565\u3002 \u9762\u5c0d\u4f86\u52e2\u6d36\u6d36\u7684\u6c23\u5019\u8b8a\u5316\uff0c\u5168\u7403\u91d1\u878d\u696d\u9808\u5f9e\u98a8\u96aa\u7ba1\u7406\u7684\u89d2\u5ea6\u5236\u5b9a\u65b9\u91dd\uff0c\u65b9\u80fd\u5316\u5371\u70ba\u6a5f\u3002\u6b63\u7576\u5404\u5730\u7d93\u6fdf\u5f9e\u75ab\u60c5\u4e2d\u9678\u7e8c\u5fa9\u7526\uff0c\u73fe\u6642\u6b63\u662f\u63a8\u52d5\u7da0\u8272\u8f49\u578b\u7684\u95dc\u9375\u6642\u523b\u3002\u5404\u570b\u653f\u5e9c\u7684\u63d0\u632f\u7d93\u6fdf\u8a08\u5283\u4e0d\u59a8\u8207\u76f8\u95dc\u7da0\u8272\u8f49\u578b\u7d50\u5408\uff0c\u4ee5\u8ca0\u8cac\u4efb\u6295\u8cc7\u4f5c\u70ba\u5fa9\u7526\u57fa\u790e\uff0c\u4e26\u9032\u884c\u6709\u52a9\u7da0\u8272\u7d93\u6fdf\u767c\u5c55\u7684\u7d50\u69cb\u6027\u6539\u9769\u3002\u91d1\u878d\u696d\u5728\u63d0\u4f9b\u4fe1\u7528\u6d41\u52d5\u6027\u7684\u540c\u6642\uff0c\u4ea6\u61c9\u5584\u7528\u91d1\u878d\u8cc7\u6e90\uff0c\u5f15\u5c0e\u7522\u696d\u9081\u5411\u74b0\u5883\u3001\u793e\u6703\u53ca\u7ba1\u6cbb\uff08ESG\uff09\u548c\u6c38\u7e8c\u767c\u5c55\u3002 \u3010\u53c3\u8003\u6587\u737b\u3011 Bank for International Settlements \uff082020\uff09, \"The Green Swan: Central Banking and Financial Stability in the Age of Climate Change\". Bank for International Settlements","inLanguage":"zh-HK","isPartOf":{"@id":"https:\/\/www.hkubs.hku.hk\/tc\/#website"},"breadcrumb":{"@id":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/#breadcrumblist"},"datePublished":"2023-08-30T10:13:06+08:00","dateModified":"2023-09-06T17:45:20+08:00"},{"@type":"WebSite","@id":"https:\/\/www.hkubs.hku.hk\/tc\/#website","url":"https:\/\/www.hkubs.hku.hk\/tc\/","name":"HKU Business School","inLanguage":"zh-HK","publisher":{"@id":"https:\/\/www.hkubs.hku.hk\/tc\/#organization"}}]},"og:locale":"en_US","og:site_name":"HKU Business School -","og:type":"article","og:title":"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40 - HKU Business School","og:description":"\u74b0\u9867\u4e16\u754c\u5404\u5730\uff0c\u6c23\u5019\u8b8a\u5316\u5c0e\u81f4\u81ea\u7136\u707d\u96e3\u983b\u751f\uff0c\u800c\u4e14\u7834\u58de\u529b\u6975\u5f37\uff0c\u885d\u64ca\u5404\u884c\u5404\u696d\uff0c\u5f71\u97ff\u7d93\u6fdf\u7a69\u5b9a\uff0c\u751a\u81f3\u5f15\u767c\u91d1\u878d\u5371\u6a5f\u3002 \u5927\u81ea\u7136\u8b66\u544a\u983b\u4ecd \u8fd110\u5e74\u4f86\uff0c\u5168\u7403\u7d93\u6fdf\u56e0\u6c23\u5019\u8b8a\u5316\u707d\u96e3\u800c\u8499\u53d7\u7684\u76f4\u63a5\u7d93\u6fdf\u640d\u5931\uff0c\u4f30\u8a08\u5e73\u5747\u6bcf\u5e74\u9ad8\u9054\u7d041.3\u842c\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u4e16\u754c\u672c\u5730\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u76840.2%\u5de6\u53f3\u30022018\u5e74\u52a0\u5dde\u68ee\u6797\u5927\u706b\u7684\u640d\u5931\u70ba3500\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u7576\u6642\u7f8e\u570bGDP\u76841.7%\u3002\u4e0a\u6708\u98b1\u98a8\u675c\u8607\u82ae\u76f4\u8972\u798f\u5efa\u7701\uff0c\u4ea6\u9020\u6210\u5343\u5104\u5143\u4eba\u6c11\u5e63\u7684\u640d\u5931\u3002 \u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54\u7684\u5c08\u5bb6Felix Suntheim\u548cJ\u00e9r\u00f4me Vandenbussche\u8a8d\u70ba\uff0c\u900f\u904e\u5728\u91d1\u878d\u9ad4\u7cfb\u4e2d\u767c\u63ee\u6838\u5fc3\u4f5c\u7528\u7684\u80a1\u7968\u5e02\u5834\uff0c\u53ef\u5206\u6790\u6c23\u5019\u8b8a\u5316\u5c0d\u91d1\u878d\u7a69\u5b9a\u7684\u5f71\u97ff\u3002\u904e\u53bb50\u5e74\u5167\u7d04350\u6b21\u5927\u898f\u6a21\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u4e2d\uff0c\u670910%\u5c0d\u7e3d\u9ad4\u5e02\u5834\u7684\u5f71\u97ff\u8d85\u904e14%\u3002\u4f8b\u59822011\u5e74\uff0c\u6cf0\u570b\u6c34\u707d\u5f15\u767c\u8a72\u570b\u80a1\u5e02\u572840\u5929\u5167\u5927\u8dcc30%\u3002 \u5929\u9d5d\u98a8\u96aa\u518d\u73fe 2020\u5e74\u570b\u969b\u6e05\u7b97\u9280\u884c\u767c\u8868\u300c\u7da0\u5929\u9d5d\u300d\u5831\u544a\uff0c\u6307\u51fa\u6c23\u5019\u8b8a\u5316\u52e2\u5c07\u6210\u70ba\u885d\u64ca\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u91cd\u8981\u98a8\u96aa\u3002\u7f8e\u570b\u7cbe\u7b97\u5e2b\u5b78\u6703\uff08Society of Actuaries\uff09\u6700\u8fd1\u671f\u767c\u8868\u7684\u65b0\u8208\u98a8\u96aa\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6c23\u5019\u98a8\u96aa\u75312019\u81f32022\u5e74\u671f\u9593\uff0c\u9023\u7e8c4\u5e74\u88ab\u8996\u70ba\u4e3b\u8981\u98a8\u96aa\u4e4b\u4e00\uff0c\u53ef\u5206\u70ba\u300c\u5be6\u9ad4\u300d\u8207\u300c\u8f49\u578b\u300d\u5169\u7a2e\u3002\u5be6\u9ad4\u98a8\u96aa\u662f\u6307\u6975\u7aef\u6c23\u5019\u9020\u6210\u751f\u547d\u8ca1\u7522\u640d\u5931\uff0c\u4f01\u696d\u6210\u672c\u589e\u52a0\u800c\u5229\u6f64\u6e1b\u5c11\uff0c\u589e\u52a0\u91d1\u878d\u696d\u904b\u4f5c\u7684\u6210\u672c\u8207\u98a8\u96aa\u3002\u8f49\u578b\u98a8\u96aa\u5247\u6307\u70ba\u4e86\u6e1b\u7de9\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u7684\u885d\u64ca\uff0c\u5404\u570b\u653f\u5e9c\u5be6\u65bd\u6e1b\u78b3\u653f\u7b56\uff0c\u5c07\u6703\u7a92\u7919\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u7d93\u71df\u3002\u5728\u4f01\u696d\u8cb8\u6b3e\u5408\u7d04\u4e2d\uff0c\u9ad8\u78b3\u6392\u653e\u6a5f\u5668\u8a2d\u5099\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u50f9\u503c\u5c07\u6703\u4e0b\u964d\uff0c\u800c\u63d0\u9ad8\u4fe1\u7528\u98a8\u96aa\uff1b\u8cb8\u6b3e\u7d66\u9019\u4e9b\u7522\u696d\u7684\u9280\u884c\u81ea\u7136\u9996\u7576\u5176\u885d\u3002 2017\u5e74\u6210\u7acb\u7684\u300c\u592e\u884c\u8207\u76e3\u7ba1\u6a5f\u69cb\u7da0\u8272\u91d1\u878d\u7db2\u7d61\u300d\uff08Network for Greening the Financial System\uff1b\u7c21\u7a31NGFS\uff09\uff0c\u5728\u51762020\u5e74\u7684\u5831\u544a\u4e2d\u6307\u51fa\uff0c\u82e5\u5168\u7403\u6696\u5316\u5931\u63a7\uff0c\u9810\u8a082100\u5e74\u5be6\u9ad4\u98a8\u96aa\u5c0dGDP\u7684\u640d\u5931\u6bd4\u7387\u5c07\u7d2f\u8a08\u905425%\u3002\u6b64\u5916\u9084\u6709\u8a31\u591a\u5be6\u9ad4\u98a8\u96aa\u7121\u6cd5\u7d0d\u5165\u8a55\u4f30\uff0c\u81f3\u65bc\u6d77\u5e73\u9762\u4e0a\u5347\u3001\u5929\u707d\u9020\u6210\u4eba\u53e3\u9077\u5f99\u3001\u5340\u57df\u885d\u7a81\u7b49\u9020\u6210\u7684\u640d\u5931\uff0c\u66f4\u5c1a\u672a\u7d0d\u5165\u8a08\u7b97\u4e4b\u4e2d\u3002\u99ac\u723e\u4ee3\u592b\u7b49\u5cf6\u570b\u7531\u65bc\u5883\u516780%\u7684\u9678\u5730\u9762\u7a4d\u6d77\u62d4\u9ad8\u5ea6\u4e0d\u52301\u7c73\uff0c\u56e0\u6b64\u96a8\u7740\u6d77\u5e73\u9762\u4e0a\u5347\uff0c\u4f30\u8a08\u6216\u6703\u57282100\u5e74\u4e4b\u5f8c\u5b8c\u5168\u9678\u6c89\u3002\u5168\u7403\u6696\u5316\u4ea6\u5f71\u97ff\u7ce7\u98df\u751f\u7522\uff0c\u82e5\u6c23\u6eab\u589e\u52a0\u651d\u6c0f2\u5ea6\uff0c\u71b1\u5e36\u5730\u5340\u5c0f\u9ea5\u6216\u6703\u6e1b\u752220%\u3002 \u6b0a\u8861\u98a8\u96aa\u8f15\u91cd \u7f8e\u570b\u91d1\u878d\u4f01\u696dMSCI\u57282021\u5e74\u57fa\u65bc\u4e0d\u540c\u60c5\u666f\u4e0b\uff0c\u8a55\u4f30\u7522\u696d\u53d7\u8f49\u578b\u98a8\u96aa\u885d\u64ca\u7684\u7a0b\u5ea6\u3002\u4f8b\u5982\u7576\u6eab\u5ea6\u589e\u9577\u53ef\u63a7\u5236\u5728\u651d\u6c0f1.5\u5ea6\uff0c\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u8f49\u578b\u98a8\u96aa\u8f03\u5927\uff0c\u6b50\u6d32\u7684\u80fd\u6e90\u516c\u53f8\u8cc7\u7522\u50f9\u503c\u5e73\u5747\u5c07\u5927\u6e1b67%\uff0c\u5275\u65b0\u7684\u4f4e\u78b3\u6280\u8853\u7522\u696d\u5247\u6703\u589e\u52a018%\u6536\u5165\u3002\u81f3\u65bc\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u96d6\u7136\u4e5f\u5c07\u8dcc\u8fd1\u516d\u6210\uff0c\u4f46\u4f4e\u78b3\u6280\u8853\u4ea6\u5c07\u70ba\u5176\u589e\u52a0\u56db\u6210\u6536\u5165\u3002 \u82e5\u6eab\u5ea6\u589e\u9577\u651d\u6c0f3\u5ea6\uff0c\u5404\u570b\u653f\u5e9c\u7684\u6e1b\u78b3\u653f\u7b56\u6216\u6703\u8f49\u8da8\u6d88\u6975\uff0c\u8f49\u578b\u98a8\u96aa\u5c0d\u5404\u7522\u696d\u8cc7\u7522\u50f9\u503c\u9020\u6210\u7684\u640d\u5931\u4fbf\u6703\u8f03\u5c0f\uff1b\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u5c07\u6e1b\u5c11\u7d04\u5169\u6210\uff0c\u537b\u56e0\u6e1b\u78b3\u8a98\u56e0\u4e0d\u8db3\uff0c\u5275\u65b0\u79d1\u6280\u5e36\u4f86\u7684\u65b0\u6536\u5165\u4e5f\u5c07\u5927\u5e45\u7e2e\u6e1b\u3002\u4ee5\u4e0a\u6578\u64da\u986f\u793a\uff0c\u8f49\u578b\u98a8\u96aa\u8207\u5be6\u9ad4\u98a8\u96aa\u662f\u7ff9\u7ff9\u677f\u7684\u5169\u7aef\uff0c\u70ba\u8ff4\u907f\u8f49\u578b\u98a8\u96aa\u800c\u4e0d\u9858\u7a4d\u6975\u6e1b\u78b3\uff0c\u96e3\u514d\u52a0\u5287\u5be6\u9ad4\u98a8\u96aa\u3002 \u65b0\u51a0\u80ba\u708e\u5927\u6d41\u884c\u4fc3\u4f7f\u91d1\u878d\u696d\u754c\u91cd\u65b0\u8a55\u4f30\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u4ee3\u50f9\u3002\u6839\u64da\u67cf\u541b\u54f2\uff08Michael Baldinger\uff092020\u5e74\u7684\u5206\u6790\uff0c\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6709\u4e09\u5927\u5171\u901a\u9ede\u3002\u7b2c\u4e00\uff0c\u65b0\u51a0\u80ba\u708e\u662f\u4e00\u5834\u53f2\u7121\u524d\u4f8b\u7684\u516c\u5171\u885b\u751f\u707d\u96e3\uff0c\u4e16\u754c\u5404\u570b\u56e0\u672a\u80fd\u53ca\u65e9\u9632\u7bc4\u800c\u5099\u53d7\u91cd\u5275\uff1b\u9762\u5c0d\u6c23\u5019\u8b8a\u9077\uff0c\u4ea6\u9808\u5f15\u4ee5\u70ba\u9451\u3002\u7b2c\u4e8c\uff0c\u75ab\u60c5\u7a81\u986f\u5728\u5168\u7403\u5316\u4e0b\uff0c\u8907\u96dc\u7684\u4f9b\u61c9\u93c8\u9762\u5c0d\u707d\u96e3\u6642\u5982\u4f55\u4e0d\u582a\u4e00\u64ca\uff1b\u6c23\u5019\u8b8a\u5316\u6240\u80fd\u7522\u751f\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u540c\u6a23\u8db3\u4ee5\u7671\u7613\u4e16\u754c\u7d93\u6fdf\u3002\u7b2c\u4e09\uff0c\u65b0\u51a0\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6240\u9020\u6210\u7684\u885d\u64ca\u96d6\u6709\u7de9\u6025\u4e4b\u5225\uff0c\u4f46\u82e5\u6709\u95dc\u7576\u5c40\u61c9\u5c0d\u75ab\u60c5\u4e0d\u529b\uff0c\u4ee5\u81f4\u6c23\u5019\u98a8\u96aa\u5931\u63a7\uff0c\u5f8c\u679c\u4e0d\u582a\u8a2d\u60f3\u3002 \u6a21\u64ec\u5f0f\u58d3\u529b\u6e2c\u8a66 \u6839\u64da\u570b\u969b\u6e05\u7b97\u9280\u884c\u7684\u7814\u7a76\uff0c\u4e0b\u4e00\u500b\u7cfb\u7d71\u6027\u91d1\u878d\u98a8\u96aa\u53ef\u80fd\u6e90\u81ea\u6c23\u5019\u885d\u64ca\uff0c\u56e0\u6b64\u76e3\u7ba1\u6a5f\u95dc\u6709\u8cac\u4efb\u8981\u6c42\u91d1\u878d\u6a5f\u69cb\u8a55\u4f30\u4e26\u63ed\u9732\u5176\u6c23\u5019\u98a8\u96aa\u3002\u70ba\u6b64\uff0c\u6cd5\u3001\u82f1\u5169\u570b\u7684\u4e2d\u592e\u9280\u884c\u57282021\u5e74\u7387\u5148\u5c0d\u672c\u570b\u7684\u91d1\u878d\u6a5f\u69cb\u548c\u7cfb\u7d71\u555f\u52d5\u6c23\u5019\u8b8a\u5316\u58d3\u529b\u6e2c\u8a66\uff1b\u6b50\u6d32\u5404\u570b\u7684\u6709\u95dc\u6e2c\u8a66\u5247\u57282022\u5e74\u5c55\u958b\u3002\u81f3\u65bc\u7f8e\u570b\uff0c\u806f\u90a6\u5132\u5099\u5c40\u4ea6\u65bc\u8fd1\u5e74\u6210\u7acb\u4e86\u76f8\u95dc\u59d4\u54e1\u6703\uff0c\u64ec\u65bc2023\u81f32025\u5e74\u8981\u6c42\u91d1\u878d\u754c\u5c07\u6c23\u5019\u8b8a\u5316\u7d0d\u5165\u58d3\u529b\u6e2c\u8a66\u3002\u65e5\u672c\u592e\u884c\u5247\u63a8\u51fa\u65b0\u7684\u8cb8\u6b3e\u5de5\u5177\uff0c\u63d0\u4f9b\u8cc7\u91d1\u652f\u6301\u6c23\u5019\u8b8a\u5316\u7684\u9805\u76ee\u3002 \u91d1\u878d\u6c23\u5019\u58d3\u529b\u6e2c\u8a66\u5be6\u6709\u52a9\u65bc\u91d1\u878d\u6a5f\u69cb\u638c\u63e1\u5728\u6975\u7aef\u6c23\u5019\u4e0b\uff0c\u5176\u8cc7\u7522\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002\u4f8b\u5982\u82f1\u502b\u9280\u884c\u4e00\u4efd\u5831\u544a\u63d0\u53ca\uff0c\u5168\u82f1\u570b\u7684\u623f\u8cb8\u7269\u696d\u7d04\u670910%\u8655\u65bc\u5bb9\u6613\u6c34\u6d78\u5340\u57df\uff0c\u56e0\u6b64\u5efa\u8b70\u5404\u9280\u884c\u67e5\u627e\u623f\u8cb8\u62b5\u62bc\u54c1\u4f4d\u65bc\u6c34\u6d78\u5340\u7684\u6bd4\u4f8b\uff0c\u518d\u6309\u707d\u60c5\u4e0d\u540c\u7a0b\u5ea6\u9810\u8a08\u6240\u6d89\u640d\u5931\u3002 \u7f8e\u570b\u9280\u884c\u5247\u4ee55\u7d1a\u98b6\u98a8\u4f86\u6a21\u64ec\u5176\u623f\u5730\u7522\u62b5\u62bc\u54c1\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002 \u5168\u65b9\u4f4d\u61c9\u5c0d\u7b56\u7565 \u4e8b\u5be6\u4e0a\uff0c\u76ee\u524d\u4e0d\u4e4f\u6df1\u5165\u63a2\u8a0e\u6c23\u5019\u8b8a\u5316\u5c0d\u8ca8\u5e63\u653f\u7b56\u5f71\u97ff\u7684\u7814\u7a76\u3002\u82f1\u502b\u9280\u884c\u7684\u5df4\u6ed5\uff08Sandra Batten\uff09\u8a8d\u70ba\uff0c\u6c23\u5019\u8b8a\u5316\u5c07\u589e\u52a0\u901a\u8ca8\u81a8\u8139\u53ca\u7d93\u6fdf\u589e\u9577\u9810\u6e2c\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5f71\u97ff\u592e\u884c\u9054\u6210\u8ca8\u5e63\u7a69\u5b9a\u7684\u76ee\u6a19\u653f\u7b56\u3002NGFS\u7684\u7814\u7a76\u767c\u73fe\uff0c\u6975\u7aef\u6c23\u5019\u4e8b\u4ef6\u767c\u751f\u7684\u983b\u7387\u8207\u5f37\u5ea6\u589e\u52a0\uff0c\u5c07\u64f4\u5927\u901a\u8ca8\u81a8\u8139\u548c\u91d1\u878d\u5e02\u5834\u50f9\u683c\u7684\u6ce2\u52d5\u6027\uff0c\u524a\u5f31\u8ca8\u5e63\u653f\u7b56\u7684\u57f7\u884c\u6548\u679c\uff0c\u56e0\u800c\u5efa\u8b70\u628a\u6c23\u5019\u8b8a\u5316\u98a8\u96aa\u7d0d\u5165\u592e\u884c\u8ca8\u5e63\u653f\u7b56\uff0c\u6b64\u8209\u662f\u5426\u9069\u7576\uff0c\u5404\u754c\u81f3\u4eca\u672a\u6709\u5b9a\u8ad6\u3002\u9451\u65bc\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u5de5\u5177\u6709\u9650\uff0c\u96e3\u4ee5\u5145\u5206\u8986\u84cb\u4f4e\u78b3\u8f49\u578b\u98a8\u96aa\uff1b\u53cd\u89c0\u8ca1\u653f\u653f\u7b56\u548c\u91d1\u878d\u76e3\u7ba1\uff0c\u56e0\u5177\u5099\u8f03\u591a\u800c\u5bcc\u5f48\u6027\u7684\u653f\u7b56\u5de5\u5177\uff0c\u76f8\u4fe1\u66f4\u53ef\u767c\u63ee\u61c9\u5c0d\u6c23\u5019\u8b8a\u5316\u4e4b\u6548\u3002 \u82e5\u8981\u6e96\u78ba\u8861\u91cf\u6c23\u5019\u8b8a\u5316\u6240\u5e36\u4f86\u7684\u91d1\u878d\u98a8\u96aa\uff0c\u91d1\u878d\u696d\u5c07\u9762\u81e84\u9805\u6311\u6230\uff1a\u4e00\u3001\u5206\u6790\u6578\u5341\u5e74\u4f86\u5404\u7a2e\u6c23\u5019\u8def\u5f91\u7684\u5f71\u97ff\uff1b\u4e8c\u3001\u9577\u671f\u9810\u6e2c\u6709\u6975\u5927\u7684\u4e0d\u78ba\u5b9a\u6027\uff1b\u4e09\u3001\u6c23\u5019\u6709\u5730\u57df\u548c\u7522\u696d\u5dee\u7570\uff0c\u56e0\u679c\u95dc\u4fc2\u5404\u6709\u4e0d\u540c\uff1b\u56db\u3001\u53ef\u518d\u751f\u80fd\u6e90\u7b49\u65b0\u6280\u8853\u7684\u51fa\u73fe\u8207\u751f\u6d3b\u65b9\u5f0f\u7684\u6539\u8b8a\u3002\u662f\u4ee5\u91d1\u878d\u696d\u5fc5\u9808\u904b\u7528\u5d84\u65b0\u7684\u5206\u6790\u65b9\u6cd5\uff0c\u91cd\u65b0\u601d\u8003\u6c23\u5019\u6578\u64da\u7684\u7ba1\u7406\u8207\u5206\u6790\u3001\u5546\u54c1\u7d44\u5408\u98a8\u96aa\u3001\u6c23\u5019\u98a8\u96aa\u60c5\u666f\u5047\u8a2d\u8207\u6c23\u5019\u98a8\u96aa\u58d3\u529b\u6e2c\u8a66\uff0c\u7d9c\u5408\u8a55\u4f30\u6c23\u5019\u8b8a\u5316\u7684\u885d\u64ca\uff0c\u5f9e\u800c\u638c\u63e1\u6f5b\u5728\u71df\u904b\u98a8\u96aa\uff0c\u76f8\u61c9\u8abf\u6574\u98a8\u96aa\u63a7\u5236\u8207\u71df\u904b\u7b56\u7565\u3002 \u9762\u5c0d\u4f86\u52e2\u6d36\u6d36\u7684\u6c23\u5019\u8b8a\u5316\uff0c\u5168\u7403\u91d1\u878d\u696d\u9808\u5f9e\u98a8\u96aa\u7ba1\u7406\u7684\u89d2\u5ea6\u5236\u5b9a\u65b9\u91dd\uff0c\u65b9\u80fd\u5316\u5371\u70ba\u6a5f\u3002\u6b63\u7576\u5404\u5730\u7d93\u6fdf\u5f9e\u75ab\u60c5\u4e2d\u9678\u7e8c\u5fa9\u7526\uff0c\u73fe\u6642\u6b63\u662f\u63a8\u52d5\u7da0\u8272\u8f49\u578b\u7684\u95dc\u9375\u6642\u523b\u3002\u5404\u570b\u653f\u5e9c\u7684\u63d0\u632f\u7d93\u6fdf\u8a08\u5283\u4e0d\u59a8\u8207\u76f8\u95dc\u7da0\u8272\u8f49\u578b\u7d50\u5408\uff0c\u4ee5\u8ca0\u8cac\u4efb\u6295\u8cc7\u4f5c\u70ba\u5fa9\u7526\u57fa\u790e\uff0c\u4e26\u9032\u884c\u6709\u52a9\u7da0\u8272\u7d93\u6fdf\u767c\u5c55\u7684\u7d50\u69cb\u6027\u6539\u9769\u3002\u91d1\u878d\u696d\u5728\u63d0\u4f9b\u4fe1\u7528\u6d41\u52d5\u6027\u7684\u540c\u6642\uff0c\u4ea6\u61c9\u5584\u7528\u91d1\u878d\u8cc7\u6e90\uff0c\u5f15\u5c0e\u7522\u696d\u9081\u5411\u74b0\u5883\u3001\u793e\u6703\u53ca\u7ba1\u6cbb\uff08ESG\uff09\u548c\u6c38\u7e8c\u767c\u5c55\u3002 \u3010\u53c3\u8003\u6587\u737b\u3011 Bank for International Settlements \uff082020\uff09, &quot;The Green Swan: Central Banking and Financial Stability in the Age of Climate Change&quot;. Bank for International Settlements","og:url":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/","article:published_time":"2023-08-30T02:13:06+00:00","article:modified_time":"2023-09-06T09:45:20+00:00","twitter:card":"summary_large_image","twitter:title":"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40 - HKU Business School","twitter:description":"\u74b0\u9867\u4e16\u754c\u5404\u5730\uff0c\u6c23\u5019\u8b8a\u5316\u5c0e\u81f4\u81ea\u7136\u707d\u96e3\u983b\u751f\uff0c\u800c\u4e14\u7834\u58de\u529b\u6975\u5f37\uff0c\u885d\u64ca\u5404\u884c\u5404\u696d\uff0c\u5f71\u97ff\u7d93\u6fdf\u7a69\u5b9a\uff0c\u751a\u81f3\u5f15\u767c\u91d1\u878d\u5371\u6a5f\u3002 \u5927\u81ea\u7136\u8b66\u544a\u983b\u4ecd \u8fd110\u5e74\u4f86\uff0c\u5168\u7403\u7d93\u6fdf\u56e0\u6c23\u5019\u8b8a\u5316\u707d\u96e3\u800c\u8499\u53d7\u7684\u76f4\u63a5\u7d93\u6fdf\u640d\u5931\uff0c\u4f30\u8a08\u5e73\u5747\u6bcf\u5e74\u9ad8\u9054\u7d041.3\u842c\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u4e16\u754c\u672c\u5730\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u76840.2%\u5de6\u53f3\u30022018\u5e74\u52a0\u5dde\u68ee\u6797\u5927\u706b\u7684\u640d\u5931\u70ba3500\u5104\u7f8e\u5143\uff0c\u76f8\u7576\u65bc\u7576\u6642\u7f8e\u570bGDP\u76841.7%\u3002\u4e0a\u6708\u98b1\u98a8\u675c\u8607\u82ae\u76f4\u8972\u798f\u5efa\u7701\uff0c\u4ea6\u9020\u6210\u5343\u5104\u5143\u4eba\u6c11\u5e63\u7684\u640d\u5931\u3002 \u570b\u969b\u8ca8\u5e63\u57fa\u91d1\u7d44\u7e54\u7684\u5c08\u5bb6Felix Suntheim\u548cJ\u00e9r\u00f4me Vandenbussche\u8a8d\u70ba\uff0c\u900f\u904e\u5728\u91d1\u878d\u9ad4\u7cfb\u4e2d\u767c\u63ee\u6838\u5fc3\u4f5c\u7528\u7684\u80a1\u7968\u5e02\u5834\uff0c\u53ef\u5206\u6790\u6c23\u5019\u8b8a\u5316\u5c0d\u91d1\u878d\u7a69\u5b9a\u7684\u5f71\u97ff\u3002\u904e\u53bb50\u5e74\u5167\u7d04350\u6b21\u5927\u898f\u6a21\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u4e2d\uff0c\u670910%\u5c0d\u7e3d\u9ad4\u5e02\u5834\u7684\u5f71\u97ff\u8d85\u904e14%\u3002\u4f8b\u59822011\u5e74\uff0c\u6cf0\u570b\u6c34\u707d\u5f15\u767c\u8a72\u570b\u80a1\u5e02\u572840\u5929\u5167\u5927\u8dcc30%\u3002 \u5929\u9d5d\u98a8\u96aa\u518d\u73fe 2020\u5e74\u570b\u969b\u6e05\u7b97\u9280\u884c\u767c\u8868\u300c\u7da0\u5929\u9d5d\u300d\u5831\u544a\uff0c\u6307\u51fa\u6c23\u5019\u8b8a\u5316\u52e2\u5c07\u6210\u70ba\u885d\u64ca\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u91cd\u8981\u98a8\u96aa\u3002\u7f8e\u570b\u7cbe\u7b97\u5e2b\u5b78\u6703\uff08Society of Actuaries\uff09\u6700\u8fd1\u671f\u767c\u8868\u7684\u65b0\u8208\u98a8\u96aa\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6c23\u5019\u98a8\u96aa\u75312019\u81f32022\u5e74\u671f\u9593\uff0c\u9023\u7e8c4\u5e74\u88ab\u8996\u70ba\u4e3b\u8981\u98a8\u96aa\u4e4b\u4e00\uff0c\u53ef\u5206\u70ba\u300c\u5be6\u9ad4\u300d\u8207\u300c\u8f49\u578b\u300d\u5169\u7a2e\u3002\u5be6\u9ad4\u98a8\u96aa\u662f\u6307\u6975\u7aef\u6c23\u5019\u9020\u6210\u751f\u547d\u8ca1\u7522\u640d\u5931\uff0c\u4f01\u696d\u6210\u672c\u589e\u52a0\u800c\u5229\u6f64\u6e1b\u5c11\uff0c\u589e\u52a0\u91d1\u878d\u696d\u904b\u4f5c\u7684\u6210\u672c\u8207\u98a8\u96aa\u3002\u8f49\u578b\u98a8\u96aa\u5247\u6307\u70ba\u4e86\u6e1b\u7de9\u6c23\u5019\u8207\u81ea\u7136\u707d\u96e3\u7684\u885d\u64ca\uff0c\u5404\u570b\u653f\u5e9c\u5be6\u65bd\u6e1b\u78b3\u653f\u7b56\uff0c\u5c07\u6703\u7a92\u7919\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u7d93\u71df\u3002\u5728\u4f01\u696d\u8cb8\u6b3e\u5408\u7d04\u4e2d\uff0c\u9ad8\u78b3\u6392\u653e\u6a5f\u5668\u8a2d\u5099\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u50f9\u503c\u5c07\u6703\u4e0b\u964d\uff0c\u800c\u63d0\u9ad8\u4fe1\u7528\u98a8\u96aa\uff1b\u8cb8\u6b3e\u7d66\u9019\u4e9b\u7522\u696d\u7684\u9280\u884c\u81ea\u7136\u9996\u7576\u5176\u885d\u3002 2017\u5e74\u6210\u7acb\u7684\u300c\u592e\u884c\u8207\u76e3\u7ba1\u6a5f\u69cb\u7da0\u8272\u91d1\u878d\u7db2\u7d61\u300d\uff08Network for Greening the Financial System\uff1b\u7c21\u7a31NGFS\uff09\uff0c\u5728\u51762020\u5e74\u7684\u5831\u544a\u4e2d\u6307\u51fa\uff0c\u82e5\u5168\u7403\u6696\u5316\u5931\u63a7\uff0c\u9810\u8a082100\u5e74\u5be6\u9ad4\u98a8\u96aa\u5c0dGDP\u7684\u640d\u5931\u6bd4\u7387\u5c07\u7d2f\u8a08\u905425%\u3002\u6b64\u5916\u9084\u6709\u8a31\u591a\u5be6\u9ad4\u98a8\u96aa\u7121\u6cd5\u7d0d\u5165\u8a55\u4f30\uff0c\u81f3\u65bc\u6d77\u5e73\u9762\u4e0a\u5347\u3001\u5929\u707d\u9020\u6210\u4eba\u53e3\u9077\u5f99\u3001\u5340\u57df\u885d\u7a81\u7b49\u9020\u6210\u7684\u640d\u5931\uff0c\u66f4\u5c1a\u672a\u7d0d\u5165\u8a08\u7b97\u4e4b\u4e2d\u3002\u99ac\u723e\u4ee3\u592b\u7b49\u5cf6\u570b\u7531\u65bc\u5883\u516780%\u7684\u9678\u5730\u9762\u7a4d\u6d77\u62d4\u9ad8\u5ea6\u4e0d\u52301\u7c73\uff0c\u56e0\u6b64\u96a8\u7740\u6d77\u5e73\u9762\u4e0a\u5347\uff0c\u4f30\u8a08\u6216\u6703\u57282100\u5e74\u4e4b\u5f8c\u5b8c\u5168\u9678\u6c89\u3002\u5168\u7403\u6696\u5316\u4ea6\u5f71\u97ff\u7ce7\u98df\u751f\u7522\uff0c\u82e5\u6c23\u6eab\u589e\u52a0\u651d\u6c0f2\u5ea6\uff0c\u71b1\u5e36\u5730\u5340\u5c0f\u9ea5\u6216\u6703\u6e1b\u752220%\u3002 \u6b0a\u8861\u98a8\u96aa\u8f15\u91cd \u7f8e\u570b\u91d1\u878d\u4f01\u696dMSCI\u57282021\u5e74\u57fa\u65bc\u4e0d\u540c\u60c5\u666f\u4e0b\uff0c\u8a55\u4f30\u7522\u696d\u53d7\u8f49\u578b\u98a8\u96aa\u885d\u64ca\u7684\u7a0b\u5ea6\u3002\u4f8b\u5982\u7576\u6eab\u5ea6\u589e\u9577\u53ef\u63a7\u5236\u5728\u651d\u6c0f1.5\u5ea6\uff0c\u9ad8\u78b3\u6392\u653e\u7522\u696d\u7684\u8f49\u578b\u98a8\u96aa\u8f03\u5927\uff0c\u6b50\u6d32\u7684\u80fd\u6e90\u516c\u53f8\u8cc7\u7522\u50f9\u503c\u5e73\u5747\u5c07\u5927\u6e1b67%\uff0c\u5275\u65b0\u7684\u4f4e\u78b3\u6280\u8853\u7522\u696d\u5247\u6703\u589e\u52a018%\u6536\u5165\u3002\u81f3\u65bc\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u96d6\u7136\u4e5f\u5c07\u8dcc\u8fd1\u516d\u6210\uff0c\u4f46\u4f4e\u78b3\u6280\u8853\u4ea6\u5c07\u70ba\u5176\u589e\u52a0\u56db\u6210\u6536\u5165\u3002 \u82e5\u6eab\u5ea6\u589e\u9577\u651d\u6c0f3\u5ea6\uff0c\u5404\u570b\u653f\u5e9c\u7684\u6e1b\u78b3\u653f\u7b56\u6216\u6703\u8f49\u8da8\u6d88\u6975\uff0c\u8f49\u578b\u98a8\u96aa\u5c0d\u5404\u7522\u696d\u8cc7\u7522\u50f9\u503c\u9020\u6210\u7684\u640d\u5931\u4fbf\u6703\u8f03\u5c0f\uff1b\u96fb\u529b\u516c\u53f8\u7684\u8cc7\u7522\u50f9\u503c\u5c07\u6e1b\u5c11\u7d04\u5169\u6210\uff0c\u537b\u56e0\u6e1b\u78b3\u8a98\u56e0\u4e0d\u8db3\uff0c\u5275\u65b0\u79d1\u6280\u5e36\u4f86\u7684\u65b0\u6536\u5165\u4e5f\u5c07\u5927\u5e45\u7e2e\u6e1b\u3002\u4ee5\u4e0a\u6578\u64da\u986f\u793a\uff0c\u8f49\u578b\u98a8\u96aa\u8207\u5be6\u9ad4\u98a8\u96aa\u662f\u7ff9\u7ff9\u677f\u7684\u5169\u7aef\uff0c\u70ba\u8ff4\u907f\u8f49\u578b\u98a8\u96aa\u800c\u4e0d\u9858\u7a4d\u6975\u6e1b\u78b3\uff0c\u96e3\u514d\u52a0\u5287\u5be6\u9ad4\u98a8\u96aa\u3002 \u65b0\u51a0\u80ba\u708e\u5927\u6d41\u884c\u4fc3\u4f7f\u91d1\u878d\u696d\u754c\u91cd\u65b0\u8a55\u4f30\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u4ee3\u50f9\u3002\u6839\u64da\u67cf\u541b\u54f2\uff08Michael Baldinger\uff092020\u5e74\u7684\u5206\u6790\uff0c\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6709\u4e09\u5927\u5171\u901a\u9ede\u3002\u7b2c\u4e00\uff0c\u65b0\u51a0\u80ba\u708e\u662f\u4e00\u5834\u53f2\u7121\u524d\u4f8b\u7684\u516c\u5171\u885b\u751f\u707d\u96e3\uff0c\u4e16\u754c\u5404\u570b\u56e0\u672a\u80fd\u53ca\u65e9\u9632\u7bc4\u800c\u5099\u53d7\u91cd\u5275\uff1b\u9762\u5c0d\u6c23\u5019\u8b8a\u9077\uff0c\u4ea6\u9808\u5f15\u4ee5\u70ba\u9451\u3002\u7b2c\u4e8c\uff0c\u75ab\u60c5\u7a81\u986f\u5728\u5168\u7403\u5316\u4e0b\uff0c\u8907\u96dc\u7684\u4f9b\u61c9\u93c8\u9762\u5c0d\u707d\u96e3\u6642\u5982\u4f55\u4e0d\u582a\u4e00\u64ca\uff1b\u6c23\u5019\u8b8a\u5316\u6240\u80fd\u7522\u751f\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\uff0c\u540c\u6a23\u8db3\u4ee5\u7671\u7613\u4e16\u754c\u7d93\u6fdf\u3002\u7b2c\u4e09\uff0c\u65b0\u51a0\u75ab\u60c5\u8207\u6c23\u5019\u8b8a\u5316\u6240\u9020\u6210\u7684\u885d\u64ca\u96d6\u6709\u7de9\u6025\u4e4b\u5225\uff0c\u4f46\u82e5\u6709\u95dc\u7576\u5c40\u61c9\u5c0d\u75ab\u60c5\u4e0d\u529b\uff0c\u4ee5\u81f4\u6c23\u5019\u98a8\u96aa\u5931\u63a7\uff0c\u5f8c\u679c\u4e0d\u582a\u8a2d\u60f3\u3002 \u6a21\u64ec\u5f0f\u58d3\u529b\u6e2c\u8a66 \u6839\u64da\u570b\u969b\u6e05\u7b97\u9280\u884c\u7684\u7814\u7a76\uff0c\u4e0b\u4e00\u500b\u7cfb\u7d71\u6027\u91d1\u878d\u98a8\u96aa\u53ef\u80fd\u6e90\u81ea\u6c23\u5019\u885d\u64ca\uff0c\u56e0\u6b64\u76e3\u7ba1\u6a5f\u95dc\u6709\u8cac\u4efb\u8981\u6c42\u91d1\u878d\u6a5f\u69cb\u8a55\u4f30\u4e26\u63ed\u9732\u5176\u6c23\u5019\u98a8\u96aa\u3002\u70ba\u6b64\uff0c\u6cd5\u3001\u82f1\u5169\u570b\u7684\u4e2d\u592e\u9280\u884c\u57282021\u5e74\u7387\u5148\u5c0d\u672c\u570b\u7684\u91d1\u878d\u6a5f\u69cb\u548c\u7cfb\u7d71\u555f\u52d5\u6c23\u5019\u8b8a\u5316\u58d3\u529b\u6e2c\u8a66\uff1b\u6b50\u6d32\u5404\u570b\u7684\u6709\u95dc\u6e2c\u8a66\u5247\u57282022\u5e74\u5c55\u958b\u3002\u81f3\u65bc\u7f8e\u570b\uff0c\u806f\u90a6\u5132\u5099\u5c40\u4ea6\u65bc\u8fd1\u5e74\u6210\u7acb\u4e86\u76f8\u95dc\u59d4\u54e1\u6703\uff0c\u64ec\u65bc2023\u81f32025\u5e74\u8981\u6c42\u91d1\u878d\u754c\u5c07\u6c23\u5019\u8b8a\u5316\u7d0d\u5165\u58d3\u529b\u6e2c\u8a66\u3002\u65e5\u672c\u592e\u884c\u5247\u63a8\u51fa\u65b0\u7684\u8cb8\u6b3e\u5de5\u5177\uff0c\u63d0\u4f9b\u8cc7\u91d1\u652f\u6301\u6c23\u5019\u8b8a\u5316\u7684\u9805\u76ee\u3002 \u91d1\u878d\u6c23\u5019\u58d3\u529b\u6e2c\u8a66\u5be6\u6709\u52a9\u65bc\u91d1\u878d\u6a5f\u69cb\u638c\u63e1\u5728\u6975\u7aef\u6c23\u5019\u4e0b\uff0c\u5176\u8cc7\u7522\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002\u4f8b\u5982\u82f1\u502b\u9280\u884c\u4e00\u4efd\u5831\u544a\u63d0\u53ca\uff0c\u5168\u82f1\u570b\u7684\u623f\u8cb8\u7269\u696d\u7d04\u670910%\u8655\u65bc\u5bb9\u6613\u6c34\u6d78\u5340\u57df\uff0c\u56e0\u6b64\u5efa\u8b70\u5404\u9280\u884c\u67e5\u627e\u623f\u8cb8\u62b5\u62bc\u54c1\u4f4d\u65bc\u6c34\u6d78\u5340\u7684\u6bd4\u4f8b\uff0c\u518d\u6309\u707d\u60c5\u4e0d\u540c\u7a0b\u5ea6\u9810\u8a08\u6240\u6d89\u640d\u5931\u3002 \u7f8e\u570b\u9280\u884c\u5247\u4ee55\u7d1a\u98b6\u98a8\u4f86\u6a21\u64ec\u5176\u623f\u5730\u7522\u62b5\u62bc\u54c1\u53ef\u80fd\u8499\u53d7\u7684\u640d\u5931\u3002 \u5168\u65b9\u4f4d\u61c9\u5c0d\u7b56\u7565 \u4e8b\u5be6\u4e0a\uff0c\u76ee\u524d\u4e0d\u4e4f\u6df1\u5165\u63a2\u8a0e\u6c23\u5019\u8b8a\u5316\u5c0d\u8ca8\u5e63\u653f\u7b56\u5f71\u97ff\u7684\u7814\u7a76\u3002\u82f1\u502b\u9280\u884c\u7684\u5df4\u6ed5\uff08Sandra Batten\uff09\u8a8d\u70ba\uff0c\u6c23\u5019\u8b8a\u5316\u5c07\u589e\u52a0\u901a\u8ca8\u81a8\u8139\u53ca\u7d93\u6fdf\u589e\u9577\u9810\u6e2c\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5f71\u97ff\u592e\u884c\u9054\u6210\u8ca8\u5e63\u7a69\u5b9a\u7684\u76ee\u6a19\u653f\u7b56\u3002NGFS\u7684\u7814\u7a76\u767c\u73fe\uff0c\u6975\u7aef\u6c23\u5019\u4e8b\u4ef6\u767c\u751f\u7684\u983b\u7387\u8207\u5f37\u5ea6\u589e\u52a0\uff0c\u5c07\u64f4\u5927\u901a\u8ca8\u81a8\u8139\u548c\u91d1\u878d\u5e02\u5834\u50f9\u683c\u7684\u6ce2\u52d5\u6027\uff0c\u524a\u5f31\u8ca8\u5e63\u653f\u7b56\u7684\u57f7\u884c\u6548\u679c\uff0c\u56e0\u800c\u5efa\u8b70\u628a\u6c23\u5019\u8b8a\u5316\u98a8\u96aa\u7d0d\u5165\u592e\u884c\u8ca8\u5e63\u653f\u7b56\uff0c\u6b64\u8209\u662f\u5426\u9069\u7576\uff0c\u5404\u754c\u81f3\u4eca\u672a\u6709\u5b9a\u8ad6\u3002\u9451\u65bc\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u5de5\u5177\u6709\u9650\uff0c\u96e3\u4ee5\u5145\u5206\u8986\u84cb\u4f4e\u78b3\u8f49\u578b\u98a8\u96aa\uff1b\u53cd\u89c0\u8ca1\u653f\u653f\u7b56\u548c\u91d1\u878d\u76e3\u7ba1\uff0c\u56e0\u5177\u5099\u8f03\u591a\u800c\u5bcc\u5f48\u6027\u7684\u653f\u7b56\u5de5\u5177\uff0c\u76f8\u4fe1\u66f4\u53ef\u767c\u63ee\u61c9\u5c0d\u6c23\u5019\u8b8a\u5316\u4e4b\u6548\u3002 \u82e5\u8981\u6e96\u78ba\u8861\u91cf\u6c23\u5019\u8b8a\u5316\u6240\u5e36\u4f86\u7684\u91d1\u878d\u98a8\u96aa\uff0c\u91d1\u878d\u696d\u5c07\u9762\u81e84\u9805\u6311\u6230\uff1a\u4e00\u3001\u5206\u6790\u6578\u5341\u5e74\u4f86\u5404\u7a2e\u6c23\u5019\u8def\u5f91\u7684\u5f71\u97ff\uff1b\u4e8c\u3001\u9577\u671f\u9810\u6e2c\u6709\u6975\u5927\u7684\u4e0d\u78ba\u5b9a\u6027\uff1b\u4e09\u3001\u6c23\u5019\u6709\u5730\u57df\u548c\u7522\u696d\u5dee\u7570\uff0c\u56e0\u679c\u95dc\u4fc2\u5404\u6709\u4e0d\u540c\uff1b\u56db\u3001\u53ef\u518d\u751f\u80fd\u6e90\u7b49\u65b0\u6280\u8853\u7684\u51fa\u73fe\u8207\u751f\u6d3b\u65b9\u5f0f\u7684\u6539\u8b8a\u3002\u662f\u4ee5\u91d1\u878d\u696d\u5fc5\u9808\u904b\u7528\u5d84\u65b0\u7684\u5206\u6790\u65b9\u6cd5\uff0c\u91cd\u65b0\u601d\u8003\u6c23\u5019\u6578\u64da\u7684\u7ba1\u7406\u8207\u5206\u6790\u3001\u5546\u54c1\u7d44\u5408\u98a8\u96aa\u3001\u6c23\u5019\u98a8\u96aa\u60c5\u666f\u5047\u8a2d\u8207\u6c23\u5019\u98a8\u96aa\u58d3\u529b\u6e2c\u8a66\uff0c\u7d9c\u5408\u8a55\u4f30\u6c23\u5019\u8b8a\u5316\u7684\u885d\u64ca\uff0c\u5f9e\u800c\u638c\u63e1\u6f5b\u5728\u71df\u904b\u98a8\u96aa\uff0c\u76f8\u61c9\u8abf\u6574\u98a8\u96aa\u63a7\u5236\u8207\u71df\u904b\u7b56\u7565\u3002 \u9762\u5c0d\u4f86\u52e2\u6d36\u6d36\u7684\u6c23\u5019\u8b8a\u5316\uff0c\u5168\u7403\u91d1\u878d\u696d\u9808\u5f9e\u98a8\u96aa\u7ba1\u7406\u7684\u89d2\u5ea6\u5236\u5b9a\u65b9\u91dd\uff0c\u65b9\u80fd\u5316\u5371\u70ba\u6a5f\u3002\u6b63\u7576\u5404\u5730\u7d93\u6fdf\u5f9e\u75ab\u60c5\u4e2d\u9678\u7e8c\u5fa9\u7526\uff0c\u73fe\u6642\u6b63\u662f\u63a8\u52d5\u7da0\u8272\u8f49\u578b\u7684\u95dc\u9375\u6642\u523b\u3002\u5404\u570b\u653f\u5e9c\u7684\u63d0\u632f\u7d93\u6fdf\u8a08\u5283\u4e0d\u59a8\u8207\u76f8\u95dc\u7da0\u8272\u8f49\u578b\u7d50\u5408\uff0c\u4ee5\u8ca0\u8cac\u4efb\u6295\u8cc7\u4f5c\u70ba\u5fa9\u7526\u57fa\u790e\uff0c\u4e26\u9032\u884c\u6709\u52a9\u7da0\u8272\u7d93\u6fdf\u767c\u5c55\u7684\u7d50\u69cb\u6027\u6539\u9769\u3002\u91d1\u878d\u696d\u5728\u63d0\u4f9b\u4fe1\u7528\u6d41\u52d5\u6027\u7684\u540c\u6642\uff0c\u4ea6\u61c9\u5584\u7528\u91d1\u878d\u8cc7\u6e90\uff0c\u5f15\u5c0e\u7522\u696d\u9081\u5411\u74b0\u5883\u3001\u793e\u6703\u53ca\u7ba1\u6cbb\uff08ESG\uff09\u548c\u6c38\u7e8c\u767c\u5c55\u3002 \u3010\u53c3\u8003\u6587\u737b\u3011 Bank for International Settlements \uff082020\uff09, &quot;The Green Swan: Central Banking and Financial Stability in the Age of Climate Change&quot;. Bank for International Settlements"},"aioseo_meta_data":{"post_id":"195810","title":null,"description":null,"keywords":[],"keyphrases":{"focus":{"keyphrase":"","score":0,"analysis":{"keyphraseInTitle":{"score":0,"maxScore":9,"error":1}}},"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":[],"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"WebPage","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"breadcrumb_settings":null,"limit_modified_date":0,"ai":null,"created":"2023-08-30 02:18:29","updated":"2023-09-06 09:46:08","seo_analyzer_scan_date":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/www.hkubs.hku.hk\/tc\/\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/www.hkubs.hku.hk\/tc\/thought-leadership\/hkej-column-tc\/\" title=\"\u9f8d\u864e\u5c71\u4e0b\">\u9f8d\u864e\u5c71\u4e0b<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/www.hkubs.hku.hk\/tc\/"},{"label":"\u9f8d\u864e\u5c71\u4e0b","link":"https:\/\/www.hkubs.hku.hk\/tc\/thought-leadership\/hkej-column-tc\/"},{"label":"\u91d1\u878d\u300c\u7da0\u5929\u9d5d\u300d\u7684\u6f5b\u5728\u4e82\u5c40","link":"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/hkej-column\/the-potential-turmoil-of-the-green-swan-in-finance\/"}],"_links":{"self":[{"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/thought-leadership\/195810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/thought-leadership"}],"about":[{"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/types\/thought-leadership"}],"version-history":[{"count":5,"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/thought-leadership\/195810\/revisions"}],"predecessor-version":[{"id":196462,"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/thought-leadership\/195810\/revisions\/196462"}],"wp:attachment":[{"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/media?parent=195810"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hkubs.hku.hk\/tc\/wp-json\/wp\/v2\/tags?post=195810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}