This paper develops a capped-call option model to evaluate sustainable insurance for achieving common prosperity. It integrates policyholder protection (Sustainable Development Goal 3 (SDG 3)) and the cap-and-trade mechanism (SDG 7) in modeling the Gini coefficient, thereby connecting SDGs 3 and 7 with common prosperity. The main findings are as follows. Life insurance policies that prioritize saving features enhance policyholder protection (SDG 3) but can detract from common prosperity. This impact is magnified when the regulatory cap within the cap-and-trade scheme for carbon-intensive manufacturers becomes stricter. High investment risks for carbon-intensive manufacturers reduce policyholder protection but support common prosperity. A stricter cap-and-trade scheme (SDG 7) also reduces policyholder protection and contradicts common prosperity. This paper avoids concluding any inherent inconsistency between the SDGs and common prosperity, as our analysis is based on the structure-conduct-performance paradigm rather than a macro perspective. Policymakers should carefully balance objectives between SDG 3 and common prosperity to ensure that policies promoting individual security do not compromise broader societal well-being and economic equality, as outlined by the SDGs.

中文翻译：

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通过可持续保险，使共同繁荣与可持续发展目标 3 和 7 保持一致


本文开发了一个封顶看涨期权模型，以评估实现共同繁荣的可持续保险。它将保单持有人保护（可持续发展目标 3 （SDG 3））和限额与交易机制 （SDG 7） 整合到基尼系数建模中，从而将可持续发展目标 3 和 7 与共同繁荣联系起来。主要发现如下。优先考虑储蓄功能的人寿保险单可以增强对投保人的保护 （SDG 3），但可能会损害共同繁荣。当碳密集型制造商的总量控制与交易计划中的监管上限变得更加严格时，这种影响就会被放大。碳密集型制造商的高投资风险会降低投保人的保护，但会支持共同繁荣。更严格的限额与交易计划 （SDG 7） 也减少了对投保人的保护，并与共同富裕相矛盾。本文避免得出可持续发展目标与共同富裕之间任何内在不一致的结论，因为我们的分析基于结构-行为-绩效范式，而不是宏观视角。正如可持续发展目标所概述的那样，政策制定者应仔细平衡可持续发展目标 3 和共同繁荣之间的目标，以确保促进个人安全的政策不会损害更广泛的社会福祉和经济平等。