Study Of Carbon Emissions Trading Law

The clean development mechanism is one of the flexible mechanisms under the Kyoto Protocol.The mechanism allows entities from developed Parties to participate clean development mechanism projects of developing Parties in order to assist developing Parties in reducing greenhouse gases emissions.The emission reductions generated from clean development mechanism projects will be used by entities from the developed Parties to perform their compulsory emission reduction commitments under the Kyoto Protocol.First of all,as an environmental policy tool to solve the global climate change problem,the most important object of the clean development mechanism is to establish an incentive mechanism to minimize the costs for the developed Parties to perform their emission reduction commitments.Besides,the developing Parties can also benefit from the clean development mechanism by strengthening their capacity of sustainable development.Ever since the Kyoto Protocol came into effect in 2005,the clean development mechanism projects have achieved a quite rapid development around the world,especially in China.Clean development mechanism projects have grown so quickly that China now has the greatest number of projects and the greatest amount of Certified Emission Reductions(CERs) in the world. Therefore,it is the mainstream observation domestically and internationally that China has benefited a lot from the clean development mechanism.The study of international climate change legal regime has attracted broad attention of Chinese scholars in view of the significance of climate change issue as well as the rapid development of clean development mechanism projects in China.However,the study in China is still in a preliminary stage:current academic research on the topic is limited to analysis of legal or policy instruments with little reference to the real legal issues arising from the practice of the clean development.mechanism projects and carbon emission reduction transactions.Hence,this dissertation tries to analyze problems of China's clean development mechanism projects and carbon emission reduction transactions from a practical perspective.Based on the analysis,the writer brings forward some opinions and suggestions for the improvement of China's legal system for clean development mechanism and carbon emission reduction transactions.The analysis is deployed from three layers:first,the dissertation gives a brief introduction to the clean development mechanism,clean development mechanism projects and carbon emission reduction transaction markets so that the readers can have a general picture regarding how the mechanism and the markets work;second,the dissertation goes further to analyze the legal issues of China's legal and policy system regarding the clean development mechanism, based on the practical situation of carbon emission reduction transactions and the clean development mechanism projects;third,this dissertation does a close study on the Emission Reduction Purchase Agreement(ERPA) so as to reflect the concerns of buyers and sellers during the carbon emission reduction transaction and their practical solutions;finally,based on the analysis above,the writer raises her opinions and suggestions regarding how to further promote the carbon emission reduction transactions by improving corresponding legal and policy regimes in China.