目的 探究在碳限额与交易的背景下,营林企业能否利用木质林产品供应链内部融资缓解其融资压力、碳排放限额和折扣系数等不同因素对供应链各成员决策变量和供应链整体利润的影响。方法 通过构建Stackelberg博弈模型,研究预付款内部融资机制下供应链主体的最优策略,并在综合考虑相关研究文献及木质林产品供应链的实际情况后选取合适的数值参数,利用算例分析比较内外部融资模式下木质林产品供应链的利润情况。结果 当木材和碳汇价格折扣率在适当范围内时,内部融资机制下营林企业和制造企业的利润水平均高于外部融资机制。内部融资机制下,营林主体的碳汇林规模随着木材和碳汇价格折扣率、碳排放限额的增加而缩减,随着政府对碳汇林经营补贴的增加而扩大;制造企业的单位碳减排量随着木材和碳汇价格折扣率的增加而增加,随着碳排放限额、政府对碳汇林经营补贴的增加而降低。结论 营林主体向制造企业进行供应链内部融资不仅解决了自身的融资问题,提高了制造企业的减排水平,还改善了供应链整体的环境和经济表现。政府可发挥市场引导者的职能,推动缺乏资金的上游营林主体与肩负减排任务的下游制造企业之间的合作,推行预付款内部融资机制,从而降低整个供应链的融资成本和减排成本,达到供应链的帕累托(Pareto)最优。

【Objective】 Regarding the carbon cap-and-trade scheme, we explored whether a forest company can use an internal financing mechanism within the wood forest product supply chain to ease its financing pressure, and how different factors, such as carbon emission cap and discount coefficients, affect the decision variables of each member and the overall profit of the supply chain.【Method】 By constructing the Stackelberg game model, the optimal strategy of the member of the supply chain under an advance payment financing mechanism is studied. After comprehensively considering relevant research literature and the actual situation of the wood forest product supply chain, appropriate numerical parameters were selected, which were used to analyze and compare the profit levels of the wood forest product supply chain under internal and external financing mechanisms. 【Result】 The results show that when the discount rate of wood and carbon sink prices is within the appropriate range, the profit levels of the forest company as well as the manufacturers under internal financing mechanisms are higher than under external financing mechanisms. Under the internal financing mechanism, the scale of the carbon sink forest decreases as the discount rate of wood, carbon sink prices and carbon emission limits increase, which increases with greater government subsidies for carbon sink forest. In addition, the unit carbon emission reduction of the manufacturers increases with a higher discount rate of wood and carbon sink prices and decreases with greater carbon emission limits and government subsidies for carbon sink forest. 【Conclusion】 Within the supply chain, the forest company’s internal financing from the manufacturing company not only solves its own financing problems and improves the emission reduction level of the manufacturer, but also improves the overall environment and economic performances of the supply chain. The government can play the role of a market leader, promote cooperation between the upstream forest company that lacks funds and the downstream manufacturer that is responsible for emission reduction tasks, and implement advance payment internal financing mechanisms, thereby reducing the financing costs and emission reduction costs of the entire supply chain, and achieve the Pareto optimum of the supply chain.