This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from ＂high carbon＂ to ＇low carbon＇, covering the following aspects： the structure, status quo and developing trend of global carbon market. The paper discusses the innovation in financial organization and service systems and governments＇ overall guidance and policy support, and draws the conclusion that the world is undergoing massive changes with governments actively responding to carbon finance to embrace the tremendous opportunities for clean energy and climate change in financial industry. To seize the opportunity, a complete and overall carbon finance system of China should be put in the top of the agenda. Given the current tasks of energy conservation and pollution reduction and the growing demand for capital input, China needs to construct an clear of policy guidance, a diversified financia service system, and a multi-approach carbon finance system to intensify and widen the participation of financial industry, to expand financing channels for sustainable economy and spread risks, and finally, work out an inexpensive solution to the realization of China＇s low carbon target.