Research On The Legal System Of Emissions Trading

With the increase of population and the development of urbanization in China,resource constraints are tightening,and environmental capacity is becoming increasingly scarce resources.The contradiction between ecological environment protection and economic development has become a serious problem that China is facing.Emission trading is an effective way to reduce pollution and protect the ecological environment,which can effectively alleviate the contradiction between ecological protection and economic development.The emission trading system is an old and new topic in China,which has been in practice for over thirty years.However,there are still many unresolved issues,such as insufficient marketization and rule of law.As a region with severe environmental pollution,imbalanced industrial structure,and underdeveloped economy,Ningxia has experienced some lag in the practice of emission trading since the pilot program was launched.It is urgent to improve the effectiveness of emission trading through legal and market-oriented institutional reforms.This paper defines the connotation and legal attribute of emission rights,expounds the connotation of emission rights trading,and takes environmental rights,equity and efficiency values,negative externality,Coase theorem theory as the theoretical basis of emission rights trading.Taking the emission trading system in Ningxia as a sample for analysis,as the study of Ningxia cannot be separated from the inspection and analysis of relevant national systems and practices,the first step is to sort out and analyze the system and practice of emission trading in China.Then,the main focus is on the construction and operation of the emission trading system in Ningxia,and the problems in the practice of emission trading in Ningxia are thoroughly examined,It is believed that these issues are somewhat related to the shortcomings of the emission trading system.Based on the analysis of the emission trading system and its practice in Ningxia,it is believed that there are the following problems in China’s emission trading system.Firstly,China’s legal system for emissions trading is incomplete,with a lack of specialized national legislation for emissions trading,and a low level of legal effectiveness in local systems;Secondly,the emission trading market mechanism is not sound,the price formation mechanism is unreasonable,and the trading market is fragmented,resulting in weak market liquidity;Thirdly,the mortgage financing system for pollution discharge rights is not perfect,the registration effect of pollution discharge rights mortgage is not clear,and there are risks in the realization of mortgage rights;Fourthly,the imperfect government regulatory system,unclear positioning of government regulation,and inadequate supervision mechanisms for government regulation are prominent issues that hinder the legalization and marketization of emissions trading in China.On this basis,suggestions for improving China’s emission trading system have been proposed.Firstly,it is necessary to improve the legal system for emissions trading,clarify the legal attributes of emissions trading,and include emissions trading in the scope of mortgageable property.Based on this,a special administrative regulation for national emissions trading,the "Regulations on the Management of Emissions Trading," should be formulated.Under the guidance of this administrative regulation,the local emissions trading system should be improved;Secondly,we need to improve the market mechanism for emissions trading,promote market-oriented price formation mechanisms,and cultivate emissions trading markets;Once again,improve the mortgage financing system for pollution discharge rights,implement the principle of effective registration of pollution discharge rights mortgage,and establish a special insurance for pollution discharge rights mortgage;Finally,improve the government regulatory system,clarify government regulatory responsibilities,and improve the supervision mechanism for government regulation.