Study On The Carbon Emissions Market Of China Under CDM

Since nearly a few centuries,a great change has happened to the global climate,emissions ofgreenhouse gas has destructed the ozone layer,caused the global warming trend.Our livingenvironment has encountered serious challenges.To deal with the global warming problem hasbecome the consensus of all countries in the world.The main idea to curb the global warming trend is to reduce the greenhouse gas emissionswhose main part is carbon dioxide.Emission permits trade of carbon as a market method is one ofthe effective ways to reduce carbon dioxide emissions.Our country is the biggest emitters ofgreenhouse gases.China's economy level is backward compared with the developed country.Ourcountry has a huge potential market for the reduction of carbon emission,to establish a unifiednational carbon emissions trading market has great significance.The carbon emissions trading market is the object of the research, the mainly contents asfollowing:Firstly,after the introduction of the related research at home and abroad,analyzed theoreticalbasis of establishing the market of carbon emissions.Then,introduces three trading systems ofallowances markets:EUETS,GGAS and CCX.Summaries up their successful operationexperience in order to provide experience for the establishment of China's carbonmarket.Analyzes the development status of allowances markets and project markets.Analyzes the situation of CDM and the three domestic big exchanges with their problems indevelopment.Elaborates the necessity,significance and principle to establish the carbon market inour country. Uses the case to demonstrate the beneficial effects of implementing CDM projects.Jiangsu province environmental data as the research object,illustrates that the implementation ofCDM project can not only reduce energy demand, but also to improve energy utilizationefficiency by using of grey correlation analysis method.Focuses on the sixth part: firstly,the construction of the carbon trading market needs threestages.From the market scope,market type, market nature,mode of distribution and exchangesscale to discuss the establishing process of building the Carbon emissions tradingmarket.Finally,using the Black-Schole option pricing model to research the price of carbonemission right.China's unified domestic carbon emissions trading market has not beenestablished,so selects the European Union emission quotas EUA DEC-13of mature market as thesubject matter of assets to researchHope to provide the experience during the initial distributionof carbon emission right for our country.