On Legal Regulations About Emission Trading Market

Emission trading is one of the hot issues that are being discussed in the current law circles. In the 1990s, in China, we began to select some representative area as emissions trading pilot which has achieved good social benefits and economic benefits. China's current emissions trading market legal regulation is mainly draw up by local legislation driven by the national policy. But from the overall perspective, China's emissions trading market legal system has not been established, the problems of emission trading practice need to be solved earnestly through legal regulation, so the research about legal regulation on emission trading market is necessary.Emission right is that the government authorizes enterprises to discharge a quantity of pollutants in the specific area by administrative license according to the pollutant total control or surplus capacity. In form it is a kind of rights that obtained by administrative permission. In essence, it is the usufruct of the environmental capacity, with the property right attribute, belongs to private rights. However, there are still many disadvantages in emission trading system, such as the current emission trading market lack of legal support system of emission trading, the subject and the object, the transaction rules and procedures are not clear, allocation of emission rights is not perfect, the market is not active and so on. Therefore, based on summarizing the experiences of the emission trading pilot, we should establish a national and unitive legislation, improve the local regulations, and build a perfect system of emission trading, in order to provide legal support for the effective functioning of the emission trading market.The United States is the earliest country to implement emission trading system in the world, and established a sound emission trading mechanisms, which is modeled by the European Union, Japan and other countries in the world. Abroad successful experience about emission trading is significant to China's emissions trading market construction. A sound legal system is the foundation of emission trading, the government's push and scientific management are the premise and basis that the emission trading market can run and among all if these, the perfection of legal system is still the key factor.Perfecting China's emissions trading market legal regulation mainly from improving the emission right transaction market legislation and the emissions trading system to proceed, then broaden emission trading of emission right and exercise way, explore new blow down authority to exercise. On one hand, recommended changes to the current law of our country, clear the legal status of environmental capacity resources shall be formulated by the State Council, the overall total quantity control of pollutant discharge planning, local authorities under the State Council's total emission control planning of the administrative regions of the total pollutant control plan, forming the central and local level of total amount control system. Developing"emissions trading management Ordinance", from the initial allocation of emission rights trading index, subject and object, the transaction rules and procedures, pollution discharge right trading center of the rational orientation of government power, the reasonable allocation and construction of pollution discharge right trading market legal regulation foundation. On the other hand improving the emission right transaction specific system, mainly from how to set up the initial indicators for paid assignments, clear pollution discharge right trade object, improve the emissions trading rules and procedures and other aspects of the system arrangement and perfect. Emission right pledge is a special form of Emission trading exercise; improvement of emission right pledge system is conducive to broaden the financing channels for enterprises to get rid of emission trading after purchase, cash flow difficulties. To build perfect emission right pledge system, attention should be paid to the construction of the legal system, and improvement the risk prevention mechanism.Through improving the functions of the government and introducing public participation system to safeguard China's emissions trading market laws and regulations to implement. As emission trading market is mature, the government should gradually withdraw from the emissions trading, and transform the functions of government from emission trading participants into the guide and management, the weakening of emission trading interference, perfect the way of supervision, at the same time, the government should establish effective incentive mechanism which should based on the improving of environment. Public participation is conducive to the formation of democratic decision-making and fair, open, justice and emissions trading market rules and order. Public participation is mainly from the pollution discharge right trading links into, and the conduct of the government and the enterprise conduct supervision. To improve public participation in the system must be clearly defined in the law of public participation in emissions trading way, restrictions on public participation in the main, and pay attention to public opinion, improve public feedback mechanism, perfect the lawsuit mechanism, clear responsibility.