為了填補減緩氣候變遷所需耗費的成本，《巴黎協定》將綠色金融列為打擊氣候變遷之核心機制之一，並促成了綠色金融運動的起飛。而綠色債券即是綠色金融運動裡面發展最為迅速的領域之一，為了管理綠色債券國際市場，綠色債券原則（Green Bond Principles，以下簡稱「GBPs」）及氣候債券標準（Climate Bonds Standard，以下簡稱「CBS」）被國際組織制定出來，並成為全球市場上的權威性標準。各國在移植上述國際標準時大抵可以依循兩種途徑：其一是透過私部門組織將上述標準移植進入本國，例如美國。其二是透過公部門組織將標準移植進入本國並成為本國之實定法，例如中國。依循不同途徑的法律移植可能會產生不同之結果，而關鍵的差異點即發生於「適應行為」的階段上。透過比較美國與中國的適應行為，本文希冀對於適應行為提供一個原則性的操作原則，為日後的法律移植提供適應行為的方向指引。
立基於過往之文獻，本文將對於「如何適應」提出自身之理論模型。美國與中國除了作為驗證本文理論有效性的案例外，兩者在綠色債券的法律移植現象中具有理論上之重要意義。就金融規範的法律移植來說，少有國家可以像美國一樣不經修正地適用移植法律；反之，也少有國家擁有如同中國一般之市場規模，可以較少受到市場的趨同壓力所影響。故而，美國與中國在綠色債券規範的法律移植中呈現為兩個極端案例，其他各國之適應行為大抵是居於此兩者之間。
另一方面，臺灣的案例同樣具有理論上的重要性。雖然臺灣也係透過公部門組織將國際標準移植進入本國，但臺灣並未如同中國一樣擁有龐大之內需市場，故而，在進行移植之時，必須同時考量因應國情與市場趨同的因素，將面臨選擇的兩難。而臺灣的情況也正是世界大多數國家所面臨的問題，故而，透過臺灣案例的研究，本文也係對於當前大多數國家所面臨的歧異與趨同兩難問題進行分析，並嘗試提供解決之道。

To fill the cost of mitigating climate change, green finance was listed as one of the core mechanisms for combating climate change in the Paris Agreement, which has contributed the rise of the green finance movement. Green bond is one of the fastest growing field of the green finance movement. In order to manage the global market of green bonds, the Green Bond Principles (hereinafter referred to as "GBPs") and the Climate Bonds Standard (hereinafter referred to as "CBS") were formulated by international organizations, and have become the authoritative standards in the global market. Countries can transplant international standards via two channels: One is to transplant these standards via private channel, as is the case in the United States. The other is to transplant standards via public channel, as the situation in China currently stands. Legal transplants may lead to different outcomes through different channels, and adaptive behavior is the key factor of different outcomes. By comparing the adaptive behaviors of the United States and China, this paper hopes to construct a principle-based model for adaptive behavior which may provide an operation direction for the adaptive behavior of legal transplants in the future.
Based on past literatures, this paper will construct a theoretical model about “how to adapt.” In addition to verifying the validity of theoretical model in this paper, the United States and China are theoretically important in the theory of legal transplants of green bonds. In terms of legal transplants of financial rules, few countries can apply transplanted laws without amendments like the United States. On the contrary, few countries can be less affected by the convergence pressure of the global market like China. Therefore, the United States and China are presented as two extreme cases in the legal transplants of green bond, and the adaptive behavior of other countries will be between these two cases.
On the other hand, the case of Taiwan is also theoretically important. Although Taiwan transplanted international standards via public channel, she doesn't have a huge domestic market like China. Therefore, at the time of transplanting, it is necessary to consider both factors of adapting and convergence, which leads to a dilemma situation. The situation in Taiwan is also the situations of other countries in the world. So, through the case study of Taiwan, this paper analyzes the convergence or divergence dilemma faced by most countries and tries to provide solutions.

一、中文部分

（一）專書

Sharan B. Merriam著，顏寧譯（2011），質性研究：設計與施作指南，臺北：五南。〔Sharan B. Merriam 2009. Qualitative Research: A Guide to Design and Implementation. Hoboken, NJ.: John Wiley & Sons, Inc.〕

（二）期刊論文

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林竣達（2018），綠色債券的全球發展趨勢，新社會政策雙月刊，57期，頁34-40。

洪艷蓉（2016），中國綠色公司債券的制度挑戰與改進，證券市場導報，9期，頁4-12。

張斌（2018），借鏡國外經驗完善制度建設推動我國綠色債券市場穩健發展，1期，頁88-91。

郭涵如（2016），全球綠色債券發展現況，國際金融參考資料，69 期，頁1-16。

趙旭凱（2018），中國綠色債券發展實踐及路徑探析，金融發展評論，5期，頁149-158。

曾婉禎（2018），我國綠色債券制度簡介，證券暨期貨月刊，36 卷第 1 期，頁31-47。

黃正忠、施昂廷（2017），全球氣候金融之發展趨勢與展望臺灣，會計研究月刊，383期，頁102-107。

蕭郁蓉（2017），發展綠色債券的國際經驗與啟示，經濟研究，18 期，頁328-363。

（三）研討會論文

謝多、馬丁·謝克（2016），綠色債券市場發展國內外實踐及前景展望，第八次「中英經濟財金對話」，中國銀行間市場交易商協會—國際資本市場協會工作組主辦，2016年11月10日。

（四）碩博士論文

李建歡（2017），回應綠色債券之正當性危機—以世界銀行環境與社會框架為中心，國立政治大學國際經營與貿易學系研究所碩士論文。

馬文斌（2017），我國綠色債券發行監管法律制度研究，廣西師範大學法律學研究所碩士論文。

（五）政府網站、網路資料庫

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二、英文部分

（一）專書

Curtis J. Milhaupt and Katharina Pristor. 2008. Law and Capitalism: What Corporate Crises Reveal about Legal Systems and Economic Development around the World. Chicago, IL. : University of Chicago Press.

（二）專書論文

Christopher T. Marsden. 2004. Co- and Self-regulation in European Media and Internet Sectors: The Results of Oxford University’s Study. Pp. 76-100 in The Media Freedom Internet Cookbook, edited by Christian Möller and Arnaud Amouroux. Vienna: OSCE Representative on Freedom of the Media.

Fabrizio Cafaggi. 2016. Transnational Private Regulation: Regulating Global Private Regulators. Pp. 212-241 in Research Handbook on Global Administrative Law, edited by Sabino Cassese. Northampton, MA: Edward Elgar.

Jodi L. Short. 2016. Transplanting Law in a Globalized World: Private Transnational Regulation and the Legal Transplant Paradigm. Pp. 430-444 in Comparative Law and Regulation: Understanding The Global Regulatory Process, edited by Francesca Bignami & David Zaring. Northampton, MA: Edward Elgar.

Olha O. Cherednychenko. 2016. Public and Private Financial Regulation in the EU: Opposites or Complements. Pp. 141-156 in Controlling Capital: Public and Private Regulation of Financial Markets, edited by Nicholas Dorn. New York: Routledge.

（三）期刊論文

Alan Watson. 1978. Comparative Law and Legal Change. Cambridge Law Journal 37: 313-336.

Alan Watson. 1981. Society’s Choice and Legal Change. 9 Hofstra Law Review 9:1473-1484.

Brandon Faske. 2018. Turning Billions into (Green)Trillions: Tracking the Growth and Development of the Green Bond Market in China, France, India, and the United States. Tulane Environmental Law Journal 31:293-324.

Chang-hsien Tsai and Yen-nung Wu. 2018. What Conflict Minerals Rules Tell Us about the Legal Transplantation of Corporate Social Responsibility Standards without the State: From the United Nations to the United States to Taiwan. Northwestern Journal of International Law & Business 38:233-284.

Chang-hsien Tsai. 2016. Legal Transplantation or Legal Innovation? Equity-Crowdfunding Regulation in Taiwan after Title III of the U.S. JOBS Act. Boston University International Law Journal 34:233-277.

David Levi-Faur &Jacint Jordana. 2005. Regulatory Capitalism: Policy Irritants and Convergent Divergence. The American Academy of Political & Social Science 598:191-197.

Daniel Berkowitz et al. 2003. The Transplant Effect. American Journal of Comparative Law 51:163-203.

David M. Trubek & Marc Galanter. 1974. Scholars in Self-Estrangement: Some Reflections on the Crisis in Law and Development Studies in the United States. Wisconsin Law Review 1974:1062-1102.

Echo Kaixi Wang. 2017. Financing Green: Reforming Green Bond Regulation in the United States. Brooklyn Journal of Corporate, Financial & Commercial Law 12:467-491.

Esin Örücü. 2002. Law as transposition. The International and Comparative Law Quarterly 51:205-223.

Fabrizio Cafaggi. 2012. Transnational Private Regulation and the Production of Global Public Goods and Private “Bads”. European Journal of International Law 23:695-718.

Gunther Teubner. 1998. Legal Irritants: Good Faith in British Law or How Unifying Law Ends Up in New Divergences. Modern Law Review 61:11-32.

Jeffrey G. Williamson. 1996. Globalization, Convergence and History. The Journal of Economic History 56:277-306.

John C. Coffee Jr. 2001. Do Norms Matter? A Cross-Country Evaluation. University of Pennsylvania Law Review 149:2151-2177.

Jonathan M. Miller. 2003. A Typology of Legal Transplants: Using Sociology, Legal History and Argentine Examples to Explain the Transplant Process. American Journal of Comparative Law 51:839-885.

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（四）即將出版之論文

Geoffrey Miller. 2011. Financial Private Regulation and Enforcement. Working Paper. Available at http://cadmus.eui.eu/handle/1814/19742

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