A Comparative Study Of The Influence Factors Of Carbon Emission Price At Home And Abroad

Greenhouse gas emissions have become an important global issue of common concern.In order to reduce greenhouse gas emissions,the world launched a comprehensive cooperation,the final carbon trading market appeared to alleviate the problem of global climate made a great contribution.European Union Emissions Trading Scheme is currently the world’s largest,most liquid,most perfect market system,China’s own carbon trading market was formally established in 2013,unified domestic carbon trading market has not been established,the domestic carbon trading market mechanism is imperfect,there are many problems.So the paper tightly around the difficulty of value assessment of the special asset of carbon emission,attempts to influence on carbon emission rights prices of many factors of theoretical and empirical analysis,compared to the European Union and China’s carbon trading price influencing factors,in order for effective evaluation and management of carbon row rights prices provide new ideas,and to achieve carbon trading role in mitigating climate change problems.This paper uses theoretical and empirical,qualitative and quantitative way,study the factors affecting the price of carbon trading in the European Union and China’s carbon emissions trading market,so as to provide some reference for the evaluation and management of the price of carbon emission rights.In this paper,a theoretical analysis by literature review and current situation of domestic and international carbon trading market,the results found that the policy factors,climatic factors,energy and macroeconomic factors will affect the price of carbon emissions trend.Then this paper selected the EU carbon emissions trading system under the EUA,Shenzhen carbon trading market and the Hubei carbon trading market emissions from August 2013 to August 2015 the average price of the month,using factor analysis and linear regression method of carbon emission rights prices of factors for quantitative study.The regression results show that the impact of high carbon energy and economic factors on the price of carbon emission rights is significant,and the impact of climate and policy factors on carbon price is not significant.In order to further study the impact of energy and economic factors on the price of carbon emissions from the European Union and China.This paper selects EU EUA futures price and the price of emission rights HBEA Hubei Province,China’s carbon market,by analyzing the characteristics of both the price-earnings ratio,linear regression models were established,the price of electricity,coal prices,natural gas prices,oil prices and market economy index variables and the carbon price of regression analysis,then compare the influence factors in different carbon market system to play the same role.After the empirical analysis found that the price of electricity,natural gas prices,oil prices,market economic indicators have a significant impact on EUA futures prices and HBEA emission rights prices,coal prices on the HBEA emissions significantly affected.The price of natural gas is different from the European Union’s carbon trading market and Hubei’s carbon trading market,coal price has no significant impact on EUA futures price,but it has a significant impact on the price of HBEA emission rights.