China's Carbon Emissions Trading Legal System Research

Carbon emissions trading has become an important environmental economicpolicy which has been widely used by many countries and regions to combatclimate change, reduce emissions and develop low carbon economy since theKyoto Protocol become a key mechanism of international cooperation to slowdown the climate change.By the way of market-oriented,carbon emissions tradingcan be effectively stimulate the economic interests of energy saving and emissionreduction and achieve the goal of control greenhouse gas emissions.By now,ourcountry have established Shanghai energy exchange, Beijing environment exchangeand Tianjin emissions exchange and other major carbon emissions tradingplatforms,those platforms are practical exploration in carbon emissions tradingarea.However, the construction and the perfection of carbon emissions tradingsystem need the safeguard of the legal system, a sound legal system can promotethe development of carbon emissions trading.Therefore, the construction of a set ofcomplete carbon emissions trading legal system in our country is very necessary toguarantee and promote carbon emissions trading.This paper has been divided into three parts,that is the introductory theory,themain body and the epilogue.The main body has four chapters on the construction ofcarbon emissions trading legal system in China.Chapter one mainly expounded on the definition and characteristics of carbonemissions right, the theory foundation of carbon emissions trading, as well as theconditions of the implementation of carbon emissions trading.Carbon emissionsright，which was defined as a specific type of emission right is a limited rightauthorized by law to use the resources of environmental capacity.The feature ofcarbon emissions property is exclusive, transferable and mandatory.The externalitytheory, the "tragedy of the commons" theory, and the coase theorem of propertyrights are the important theory basis of carbon emissions trading. Theimplementation of carbon emissions trading is depended on the followingconditions:the cost difference of carbon emissions between different economicentity,the carbon emissions monitoring,the initial distribution of carbon emissionsallowance and the establishment of carbon emissions trading market.Chapter two has introduced the carbon emissions trading legal system and itspractice experience in the European Union and the United States as reference, and has analyzed characteristics of their carbon emissions trading,and the experiencewhich our country might draw from:that are to establish the emission rightsthrough the law, to determine the total amount control principle, to adjust the initialallocation way by way,and to make sure the right of carbon emissions ismandatory.Chapter three has analyzed the reality basis of the construction of the carbonemissions trading legal system and the basic principle. In the construction of carbonemissions trading legal system the reality basis were the practice foundation, thepolicy and institutional foundation as well as the technical basis. Cap-and-trade andinitial allowance allocation are the important principle of carbon emissions tradinglaw system in China;Chapter four has put forward the ideas of China’s carbon emissions tradinglegal system construction.And has suggested that the construction of carbonemissions trading legal system in China should include six aspects,that are thesubject,the object,the regional design,the procedures,the government regulation andthe legal responsibility.And draw the conclusion that the subject of our countrycarbon emissions trading are the government, financial intermediaries, enterpriseeconomic subject, environmental groups and the qualified agent; the object ofcarbon emissions trading is the surplus environment capacity; the division ofcarbon emissions trading is build on the administrative area, from the point to thesurface, and gradually design the carbon emissions trading geographical area; theregistration, the application for the allocation, negotiation and contract signing,authentication, the shift of the carbon emissions assertion are the main program; thegovernmental supervision of carbon emissions trading mainly includes themacro-control of carbon emissions trading market, constructing the perfect carbonemissions trading market information platform, pay attention to the dailysupervision of carbon emissions trading market; the implementation of the carbonemissions trading needs the safeguard of the civil, administrative and criminal legalliabilities.