Study On The Construction Of China’s Low-carbon Financial Trading Market Under The "Paris Agreement"

Since 21st century,the problem of global warming has intensified,and the relevant problems of melting glaciers and disappearing species have seriously affected the living environment of human beings,so the governance of climate issues has been put on the international agenda."Paris Agreement",secondary to the Kyoto Protocol,is the second legal document on global climate issues and has opened a new phase of self-contribution for reducing emissions.At present,China is in the new normal period of economic development and its social principal contradiction has also shifted:in addition to the pursuit of economic development,people also need a better life of green water and blue sky.In this paper,the construction of China’s low-carbon financial trading market under the climate framework of "Paris Agreement" is studied in depth.Through the analysis on the change in the form of international climate emission reduction and drawing on the experience of the developed countries’ low-carbon financial trading market,this paper makes suggestions on the construction of low-carbon financial trading market in China.First of all,by collecting data,the development of low-carbon emission reduction in China and the operation,carbon rights price,quota model,covering industries,emission reduction effect and other specific content of China’s seven major carbon trading pilots are understood,and based on these,this paper has made a preliminary judgment on China’s present development situation of low carbon financial trading market and put forward that the current development process still faces issues about criteria absence,pricing power and talents;secondly,this paper also makes an analysis on the European Union,the United States,Japan and other developed countries for their low carbon financial market development statuses and finds their markets have many advantages,such as perfect trading mechanism,the participation of various main bodies and diversified forms of financial derivatives.Then this paper makes a study on the mature trading markets,such as Tokyo Cap-and-Trade Program and Chicago Climate Exchange,and learns from the advantages of these trading systems.Finally,through the analysis of the international market and the domestic environment,the paper puts forward some suggestions on establishing the sound legal framework,perfecting the trading system,enhancing the participation of the enterprises and drawing lessons from the international experience for China’s issues under the climate background of "Paris Agreement".It is concluded that,under the climate framework of "Paris Agreemen",China’s establishment of low carbon financial trading market is necessary for promoting low-carbon emission reduction and building ecological-civilized society.Therefore,China shall actively accelerate the construction of low-carbon financial trading market,improve the trading system and encourage financial institutions to release low-carbon financial derivative products,so as to promote the development of low-carbon industries via the market mechanism.