Construction Research On Legal System Of China's Emissions Trading

Facing increasingly environmental problems, the effective solutions of thoseproblems have been innovating constantly. Emissions trading system is introducedand used to control pollution by providing economic incentives in the environmentalprotection field; therefore, it benefits the balance between economic development andenvironmental protection. Additionally, it has become one of the rational solution inthe practice of the environmental protection and a hot issue in the research of theenvironmental law. The concept of emissions trading was first proposed byJohn Dellin the 60s of last century. In the early 1970s, Montgomery, who used mathematicallyeconomic approach, precisely demonstrated the emission trading system couldachieve the goal of "least cost solution" for pollution reduction. This trading systemwas first appliedtocontrol environmental pollutionintheUnitedStates. As expected,it performed dramatically well. Subsequently, this successful system was admitted bymanycountries around the world. Moreover, this economic approach has been widelyused in the environmental protection, and the legalization of market mechanism hasbecome the important fundament ensuring a healthy process of emissions trading.Since 1990s, China has begun to learn emissions trading system and has made a fewtrials in some places. Necessarily, we need to do the further research about theconstruction of the relevant legal system of emissions trading in order to adopt itextensivelyandeffectivelyasearlyaspossibleinChina.The paper first shows the analysis of emissions right, emissions trading, and itslegal properties and characteristics. It strengthens the analysis of the environmentalright attribute of the emissions right. Also, it explains the connotation of the trading system.Second,thepaperfocuses ontheanalysis ofthetheoretical basis ofemissionstradingsystem.Theanalysisisbasedontheaspectsoflaw,economics,andecologicalphilosophy. And it explains the rationalization of theoretical logic as well. Then, itsummarizes the problems and present situations about emissions trading system inChina. The summary includes the practice of emissions trading, its related policiesand legal bases. Furthermore, it also analyzes the existing problems of the legalsystem ofchina's emissions trading,such as the basiclegal system ofthe tradinghasdeficiencies, the specific legal system of the trading is yet to be perfected, the legalsystem of supervision and certification of the trading are still inadequate and therelatedlegalsystemstillneedtobeestablished.Then,ittalksaboutthelegislationandpractical experience of emissions trading in some foreign countries. Among thosecountries, the emissions trading system of the United States is an important learningexample. In addition,the European Union's greenhouse gas emissions tradingschemeis represented as a supplementary studying case. Through the analysis we get someenlightenment, including the trade pattern, the requirements of applicable laws, andtherelated system construction,etc. Finally, It shows theanalysis ofthenecessityandfeasibilityof constructingemissions tradingsystem in China and also summarizes thebasic principle of the system, then it tries to divide the construction into the fouraspects to explain the legal system of China's emissions trading, including the basiclegalsystemofthetrading,thespecificlegalsystemofthetrading,thelegalsystemofsupervisionandcertificationofthetrading,andotherrelevantlegalsystem.