Abstract:Low carbon M A is a new model of enterprise M A in process of ecological civilization construction,and its performance is affected by the macroeconomic situation and environmental factors. This is the first to explore the deep relationship between performance of Low-Carbon M A and macroeconomic, environment.An VAR model is built up based on the Cointegration theory of VAR model,and then it used toforecast, the impulse response function analysis and variance decomposition.it found: In the process of promoting ecological civilization, it has stable long-term cointegration relationship between the M A performance of low carbon and macroeconomic and environmental variables.Little prediction performance low carbon acquisition is improved in long-term. Capital market development and the macroeconomic situation has a positive impact on low carbon acquisition performance,while Environmental pollution and energy consumption has a negative impact on low carbon acquisition performance,but Energy consumption, environmental pollution is not conducive to the performance improvement of low carbon M A.