继在《2011中国气候融资报告》中提出气候资金流生命周期的分析框架后，中央财经大学气候与金融研究中心经过一年的积累，在此次出版的《2012中国气候融资报告》中，初步实现了对中国气候资金全生命周期流动情况的追踪研究，不仅梳理了中国气候融资体系的整体发展基础和现状，且通过对四个环节的剖析，识别了制约我国气候融资发展的瓶颈。本书前四章的研究工作主要针对气候资金全生命周期过程中的四个关键环节展开：资金来源、资金媒介、转移工具以及资金运用。第五章将在以上四个关键环节分析的基础上，从资金流和融资创新的视角对中国气候融资机制进行整体的评述，并明确综合处理各种瓶颈的关键点和政策需求。最后，基于第一至第五章的分析，本书详细探讨了中国气候融资所面临的机遇和挑战，并给出富有建设性的政策意见。

The 2012 China Climate Finance Report: Climate Capital Flow (Hereinafter the Report) was released by the Research Center for Climate and Energy Finance (RCCEF) of Central University of Finance and Economics (CUFE) jointly with the Climate Group. Based on the climate capital flow lifecycle analysis framework elaborated in the 2011 China Climate Financing Report, the Report is the first analysis which tracks the entire chain of China’s climate capital flow, assesses the evolution of China’s climate finance landscape and identifies the key bottlenecks that hinder climate finance in China. The first four chapters focus on four key determinants of the climate finance lifecycle, including:Capital Sources, Intermediaries, Transfer instruments and Deployment of capital. Based on findings of chapters 1-4, chapter 5 assesses the Chinese climate financing system from the perspective of capital flow and financial innovation. It aims at identifying key determinants and policy demands to break the bottlenecks. Finally, chapter 6 discusses the opportunities and challenges of developing China’s climate financing system and provides recommendations.