| In recent years, China’s economy has developed rapidly, and people’s livingstandard has greatly improved. However, the environmental pollution has becomeincreasingly acute along with the economic development. All kinds of extremeweather events caused by the emissions of greenhouse gases dominated by carbondioxide have showed with a high frequency in recent years, which reminded people toface up to the issue of climate change. The carbon emission right trading system isone of the effective ways to solve the issue of climate change, which makes thecountries of the world respond to the issue of climate change together through botheconomic and legal means for the first time.The database information of the World Bank World Development Indicatorsshows that China’s emission of CO2in2010reached8.286billion tones, which ranksfirst in the world. In accordance with the principle of “common but differentiatedresponsibilities”, China temporarily doesn’t has to assume the obligation of emissionreduction, but emission reduction is the necessary requirement of China’s sustainabledevelopment in the future as well as the only way which must be passed. It is notenough only depending on the policy and the efforts of individual companies toachieve the goal of carbon reduction, the market mechanism must be introduced.EU-ETS is the largest and most sophisticated among numerous regional carbonemission trading system at the international level. After continuous summary andimprovement, EU-ETS has achieved very positive results, drawing on its experienceto China’s carbon emission right trading pilot work is of great significance.Carbon emission right trading is a relatively new phenomenon, which originatedafter the formation of WTO rules. Carbon emission right trading market includes bothdomestic and international markets. It is necessary to determine that whether theconducting of carbon emission right trading in the international market will besubjected to the adjustment of WTO rules and what adjustment of WTO rules.Moreover, developed countries have dissatisfaction with developing countries due totheir different obligations on carbon emission reduction, so some discriminatory measures may be taken, which also poses certain challenges for our country.As the largest provider of emission reduction market in the world, China’scarbon emission right trading market is facing unprecedented opportunities andenormous challenges. In order to regulate China’s carbon emission right trading andseek to integrate with the market of other countries, China needs to establish thecarbon emission right trading market with Chinese characteristics according toChina’s national conditions, and the legislation of carbon emission right tradingshould be completed as soon as possible, and the legal status of carbon emission righttrading should be determined, as well as the laws and regulations related to carbonemission should be improved.First of all, this paper provides an overview of carbon emission right tradingsystem, and it explains the definition, characteristics and theoretical basis of carbonemission right trading as well as the status of current studies of carbon emission righttrading system in China. Secondly, it analyzes the reasons that China temporarily hasno carbon emission right trading legal system, as well as introducing the study statusof carbon emission right trading system in foreign countries as well as the successfulexperiences of EU carbon emission right trading system. Thirdly, it carries out adetailed analysis of the relationship between carbon emission right trading and WTOsystem, discussing the challenges caused by this and may be encountered in theprocess of carbon emission right trading in China, and then it also points out otherchallenges in front of China. Finally, with regard to the challenges in front of carbonemission right trading system of China, this paper proposes suggestions forimproving China’s carbon emission trading system.This paper mainly hires the research methods of comparative analysis andinductive analysis. It carries out a comparison of China’s conditions and the situationof EU, putting forward the probability of referring to the successful experiences ofEU. Moreover, this paper makes a comprehensive arrangement in terms of the carbonemission right trading system’s development status at home and abroad, therelationship between carbon emission right trading and WTO system as well as thechallenges caused by this in front of China including the current challenges faced byChina’s carbon emission right trading system. Based on the analysis of carbon emission right trading institution and system, this paper proposes relevant suggestionsto perfect China’s carbon emission right trading system, which provides a referencefor building environment-friendly society and sustainable economic development. |
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