| dc.description.abstract | Beyond the compliance of “Kyoto Protocol”, carbon trading has become an essential way to reduce carbon emissions in industrialized and developing countries. Financial service industry is not only a “price discover” but a specialist broker, ranging from clearing agents, trading brokers, commercial banks, carbon asset developers, insurance underwriters, and investment banks, not only in “Project-based” but in “Allowance-based” carbon trading market. As the carbon market is expanding trading scale, increasing liquidity, and enhancing transparency, financial service industry brings about double effects to cope with the climate change: to mitigate negative effects caused by “Climate Change” in the economy, and to grasp the business opportunity to adapt to climate change, providing financial products and services regarding climate change management. The role and responsibility of financial service industry are extended from a broker to a functional player, and differ in responding to the climate change.
The emergence of carbon market is the virgin integration between environment issues and financial areas. This research studies Goldman Sachs and ABN AMRO’s roles in carbon trading, and finally provides suggestions and improvements to our country.
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