| Global warming caused by greenhouse gas emission has aroused world attention. To control the emissions of greenhouse gas needs to slow a certain degree of economic growth as the opportunity cost. In order to mitigate the contradiction between economic growth and climate change, to reduce greenhouse gas emissions, the international society has implemented a binding carbon trading market on the global scale. It is now widely recognized that to reduce emissions by using of carbon sink of ecosystem function to implement carbon trade is an effective and economic way. To explore ecosystem function carbon sink of forest, grassland and farmland, the carbon pricing mechanism and market operation mode, is the focus of the current academic studies. To pay attention to the prairie carbon sinks function, increase carbon sink supply, study the grassland carbon price formation, and improve the carbon sink market trading mechanism, is of great significance to realize the grassland carbon sinks trade and slow global warming.In this paper, to explore the theories and methods suitable for grassland carbon sinks pricing theory by using the grassland carbon sinks pricing as the main line. This paper discusses the price forming mechanism of grassland carbon sink, respectively from the angle of input-output, supply cost and investment value. Through example of Si Ziwang Banner in Inner Mongolia carbon sink, comparing with three kinds of pricing method and the practical application, in order to provide practical reference for grassland carbon sink of price forming, the realization of the value assessment and carbon sinks trade. The main point of the thesis and conclusions are as follows:(1) In the analysis of global carbon market present situation, we found that:from the trading volumes and values angle:the allowance market as the main part, the project market is complementary. From transaction price changes angle, allowance market price is higher than project-based market price in the global market, mandatory market price is higher than voluntary market price in the allowance market, the secondary market price is higher than primary market price in the project-based market. China as a developing country, mainly involved in voluntary market transactions and primary market transactions of CDM project, but the voluntary market price and the primary market price is the lowest price in the carbon market. Carbon trading of China is still in the low end of the international carbon trading system, it is not conducive to participate in the competition and negotiations of the international carbon trade. Therefore, building carbon market trading system actively, grasping the carbon trading pricing power, improving the carbon trading price, these are the necessary ways for carbon trade development in our country and also the starting point and the foothold of the carbon sink pricing and market mechanism study.(2) From angle of regional economic development input and output, using the grassland ecological environment as a production factor, grassland animal husbandry output value, labor input in pastoral area and animal husbandry production input jointly build Cobb-Douglas Production Function, by using the carbon sinks data of grassland in2003-2012, as the grassland ecological environment factors. According to the principle of marginal product, obtained the shadow price of grassland carbon sink, mean value is25.59yuan per ton, annual average carbon sink income is162.92million yuan, per capita carbon sink income of herdsmen is13175yuan per year. Then, to research the long and short term equilibrium relationship of Labor, capital investment, the grassland ecological environment improvement and the pastoral animal husbandry economy development with using error correction model. It obtains that the short-term effects coefficient is-0.46of labor input to animal husbandry output value in the short-term equilibrium relationship, which means the current pastoral areas under the condition of animal husbandry industry labor surplus, it should continue to strengthen the implementation of grazing prohibition, rotational grazing and rest grazing and regional ecological migration of degradation area. The short-term effect coefficient is0.89of capital investment to animal husbandry output value, we found that pastoral animal husbandry output value increase with a strong reliance on capital spending. The short-term effects coefficient is-0.05of improved grassland ecological environment to animal husbandry output value, showing that in the early stages of the ecological environment recovery, should reduce the interference of livestock and human activity, and the pastoral animal husbandry output value may be adversely affected, resulted in a decline in animal husbandry output value. From the point of long-term equilibrium relationship, on the assumption that other conditions unchanged, the condition of labor input and capital input are obvious positive correlation to the animal husbandry output value. The long-term effects coefficient is1.39of improved ecological environment to animal husbandry output value, that is to say, the improvement of the ecological environment is conducive to the sustainable development of animal husbandry. So grassland vegetation restoration and the grassland ecological environment improvement are conducive to carbon sequestration increase as well as to the sustainable development of animal husbandry.(3) According to the closely relationship between the grassland carbon sink and grasslands animal husbandry, it has proposed to combine the grassland carbon sink project with pastoral animal husbandry production mode. From the perspective of grassland carbon sink supply cost, obtained the marginal opportunity cost price of grassland carbon sink is186.99yuan per ton, annual average carbon sink income is389.89million yuan per capita carbon sink income of herdsmen is31500yuan per year. The livestock reduction loss and vegetation restoration input costs will be compensated by carbon trading. So the development of grassland carbon sink trade is the effective measures to realize the ecological and economic common development.(4) From the perspective of grassland carbon sink investment value evaluation, Black-Scholes option pricing method is used to estimate the grassland carbon sink value in Si Ziwang Banner of Inner Mongolia from2004to2012, and compared with the traditional net present value (NPV) evaluation method. The research results show that the option pricing method in the probability of real value changes and risk-free rate to measure risk, both considering the time value of capital and flexible decision-making, the evaluation result is more close to the actual value. Thus using the option pricing theory to account grassland carbon sink value is more reasonable than the traditional evaluation method, and the grassland carbon sink value is339.4263million yuan. The application of grassland carbon sink option pricing theory is beneficial to promote the development and implementation of carbon sink project, meet the demand of trade and investment, enliven and improve the carbon trading market.(5) On the basis of fully recognized the Inner Mongolia grassland carbon sink potential, to construct the constituent elements and of grassland carbon market system. From the angle of supply and demand, to study the elements and operating mechanism, propose Inner Mongolia grassland carbon sink development developing mode, and propose that at the present, Mongolia grassland carbon sink development should take scientific research as guide, projects as support, and the government as leading. |
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