在中国追求“绿色”效益
张智康
2009年1月7日
中国的环境产业在不断壮大，但它仍然面临着潜在的威胁。张智康替投资者进行了风险评估。
“中国的绿色产业有了巨大的进步，但仍然充满竞争，荆棘满地，只有最强大的公司才能生存。”
尽管当前面临经济衰退，中国的环境和可再生产业明年仍将强劲增长，这全都依靠中国政府最近推出的一揽子财政刺激政策。但是，那些寻找商业机会来淘金的私人投资者还要保持审慎，因为中国的绿色产业仍然面临着各种挑战，投资者必须小心应对，才能获得成功。
直到目前，中国的绿色产业在席卷全球的金融危机中一直岿然不动，并且继续稳定地吸引着注入资金。这种弹性部分得益于中央政府最近推出的4万亿人民币（5，860亿美元）一揽子财政刺激政策，其中有3，500亿元（510亿美元）注明用于污水处理厂和可再生能源设施等环保项目。
这场政府支持下的投资盛举的效益很快显现出来，中国各地都掀起一股环保项目政府招标的高潮。这些进展自然让新投资者们充满乐观。私有咨询公司清洁技术产业投资集团报告说，上个月在上海召开的会议认为中国的清洁技术产业的发展不可能放缓。同样国家发改委最近的报告也指出，单是第四季度，中国在沼气等农村水源和能源设施方面的投资就超过220亿元（30亿美元）。
无论对中国的绿色产业还是改善环境的诉求来说，这无疑都是好消息。但是，那些想要在其中迅速获得收益的投资者们还是要审慎。中国的绿色产业有了巨大的进步，但仍然充满竞争，荆棘满地，只有最强大的公司才能生存。
一个关键的挑战就是成本。中国的劳动力价格固然比较低，但这里的商业习惯是打价格战，企业必须不断想方设法降低产品价格。但是，最近中国的生产成本已经达到新高，部分原因在于那些必须依靠进口的原材料价格上涨。2008年8月，与2007年同期相比，中国生产价格指数上涨达到创纪录的10.1%。价格上涨在国内光电板厂商中尤为突出，它们为了买到制造晶片用的硅，出价可以比外国竞争者高出一倍。这些额外的成本足以抵消低劳动成本所带来的竞争优势。
另一个挑战是人力资本的短缺。中国并不缺少受过良好教育的员工，但那些素质最好的人全都去了金融和信息技术等更能赚钱的产业。这些产业的吸引力在于它们能够迅速获得收益，而环保企业恰恰相反，它们的收益是细水长流式的。最后的结果就是许多中国绿色企业的人力资源素质较低。要改变这一现状，唯一的办法就是提供更有竞争力的薪酬。
由于管理机制的落后，环保产品和服务仍然支离破碎，这可能是最重大的挑战。尽管中国一再强化环保法律，比如加强环保机构的权力，但是职能的落实仍然力度不够。
举个例子。中国环保部对全国500家最大企业进行了一项调查，发现有40%的企业没有采取它们在环境影响报告中所承诺的必要环保措施。另外，环保部还发现报告上来的严重污染事故数量在以每年30%的速度增长，平均每两天就会有一起。
中国肯定会出现一些既能改善环境，又能创造巨大收益的绿色企业。但是，这样的企业必须同时具有杰出的技术能力和不可或缺的商业技巧。要慧眼辨别这样的企业，明智的投资者就必须做足功课。
作者简介：张智康，世界资源研究所市场与企业项目高级助理。本文只代表其个人观点，节选自他的著作《可持续投资：长期业绩的艺术》，该书由地球了望（Earthscan）出版社出版，卡里·罗辛斯基、尼克·罗宾斯编辑。
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在中国，想到企业，其形象往往是环境污染者、生态破坏者，还少有专门以改善环境为使命的企业，这股力量的缺失不容忽视。
中国需培养、加强这股力量，经济利益驱动下的改善环境行动更有力，比只靠政府管理更有效。
In China, when talking about enterprises, we tend to think of pollution-makers and ecology-destroyers. There are few enterprises who consider improving the environment as their mission. We should not ignore this deficiency. China needs to groom and strengthen this area of green enterprise. Acts of improving the environment driven by economic profits are even more powerful and effective than those derived from governmental administration.
本来对环境产业不甚了解，但看了这篇文章学到了不少东西。毫无疑问，像很多西方国家一样，中国的环境产业正在蓬勃发展。规模不断扩大，注资不断增加。这说明，上到政府，下至平民百姓，都对环境问题有了更清醒的认识。对此，我们应该感到欣慰。但是，我还是有个问题：中国环境产业的发展以及其发展速度在很大程度上取决于政府的政策导向，那么中国政府现在到底是持有哪种观点呢？是像发达国家一样，先污染后治理，还是发展与环境治理并举呢？因为感觉看了一些这方面的消息，发现似乎各地的情况都不太一样。不知哪位网友能解答我，不胜感激。
In the past I knew little about the environmental industry. I learnt a lot from this article. Undoubtedly, environmental industry in China, like in many western countries, is growing fast. Its scale is expanding and the capital input is increasing, which shows that both the government and the citizens are wising up to environmental problems now. This is really comforting. Still, I have a question; since the development of the environmental industry in China depends on the policy guidance of the government, what kind of view does the government have now? To choose the treatment after pollution pattern, or to develop the economy at the same time as curing environmental problems? I feel that, according to the news in this field, the situation varies from place to place. I hope someone can answer my question. Thanks.
绿色产业对中国的可持续发展来说是十分重要的。然而，由于有这么多问题存在，绿色产业的发展任重而道远。如果政府能提供一些政策支持和鼓励，并且这些绿色企业的管理者能采取成熟的商业操作的话，这一产业的发展可能会容易一些。
Green industry is very important for China's sustainable development. Yet, since there are so many problems, it still has a long way to go. If the government can provide some policy support and encouragement, and if managers of these green enterprises can take mature commercial operations, it will be easier for this industry to develop.
相信中国政府也是希望能在发展经济的同时治理污染，保护环境的吧，那么绿色产业对它来说是一个绝佳的选择。这样的话，为什么不多对绿色产业提供一些强有力的支持呢？比如经济政策的扶持，在科研机构和绿色企业之间牵桥搭线，对绿色企业的经营方式给予指导等等。如果能这样做，相信绿色产业的发展会更顺利。
I believe Chinese government also wants to reduce the pollution to protect the environment while developing the economy, then green industry would be a perfect choice to it. Then why not provide some powerful support to green industry? For example, the government can offer some policy support, promote cooperation between scientific institutions and green enterprises, or offer some guidance in the operation model of these enterprises. I believe the green industry would develop more smoothly if the government did so.
目前绿色产业还是一个新兴产业吧 有多少投资者关注到这个产业呢？我估计不是很多 这个产业的不成熟和细水长流的收益模式可能会让很多投资者打退堂鼓 不过也许现在金融、房地产不景气反而是个机会，说不定有些投资者会把目光转向绿色产业
Green industry is now a new industry, so how many investors would pay attention to it? I'm afraid it won't be a large number. The immature nature and the long profit circle of this industry may dampen investors. However, the current finance and housing slump might be an opportunity to this industry. Maybe some investors would turn to it.
其实有很多投资者，特别是有道德的投资者，对绿色和其他可持续的生意有很大兴趣。这既有商业意义又有道德意义。如果一个行业危害社会，它迟早要付出代价（看看美国的烟草行业）。而且投资者知道，从长远来看，危害社会的行业不是好的投资对象。因此聪明的投资者认识到绿色企业、清洁技术等等才是有前途的行业。人们怎么会不想进这样的行业，而宁愿停留在过去那种没有前途的行业呢？（Translated by Zhang)
Actually there is a lot of interest from investors, especially ethical investors, in green and otherwise sustainable business. This makes business sense as well as moral sense. If a business is damaging society, sooner or later it will have to pay damages (look at the tobacco industry in the US) and investors know that in the long term bad business is a bad investment. So the smart investors see that green business, clean tech and so on are the businesses of the future and why would you not want to be there, rather than in the businesses of the past, which can only die in the long term?
那些由年轻创业者开办的小企业在绿色产业里不会有所作为么？光看到成本方面是不够的，我们还应该看企业的创造力。环保行业应该发展成一片“蓝海”，过度竞争说明我们的创意还不够。
Won't those small enterprises run by young entrepreneurs be successful in green industry? It's not enough for us to think merely about cost, and we should also think about enterprise creativities. The environmental protecting industry should be the blue sea,instead of an extremely competitive industry, which suggests the lack of creativity.
与向国家机器（军队，警察等）投资相比，投资绿色环保技术，以及努力确保环保法令得以执行，能够更好的平抑社会压力和建立民族自豪感。然而中国在知识产权保护上的失败已经成为抑制外资对环保科技投资的主要因素之一。
（本评论由Zheng Shen翻译）
Invetment in green technology - or at least ensuring that laws relating to pollution etc are enforced - is perhaps more likely to ease social pressures (and generate wholesome national pride) than investment in intimidatory services i.e. the military and police. However, China's failure to respect intellectual property rights is a major disincentive to genuinely foreign investment in green technology.
中国应该涌现一批生态企业家和绿色企业，专注于企业在设计、生产、销售、回收的商业行为中，遵循环境标准，目前中国刚刚实施的循环经济促进法，将为催生生态企业家和绿色企业创造条件。中国工商部门应该对没有遵循环保标准并造成环境污染的企业实行一次警告罚款、二次禁止取消企业运营的处罚，并要求对赔偿修复环境的所有费用。对绿色企业和生态企业家给予绿色贷款等鼓励。海峰
China should have emerged a number of eco-entrepreneurs and green businesses ,which pay attention to enterprises in the design, production, sale, recovery of business practices, and follow environmental standards.At present,the Circular Economy Promotion Law is implemented in China,and will give birth to eco-entrepreneurs and green businesses.To enterprises violating environmental standards and causing environmental pollution ,department in charge of industry and commerce should carry out the publishment that warning to fine, a second prohibited the corporate operations,and ask compensation for all costs to repair the environment, and grant loans to encourage green businesses and eco-entrepreneurs.
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