A International Game Research Of Carbon Finance Based On The Emission Reduction Responsibility

With the rapid development of low carbon economy in the whole world, carbonfinance has become a new form of finance and brought about great economic growthopportunity. The shared responsibility for carbon emissions impacts low-carboneconomy, as the natural coupling between carbon finance and low carbon economy,thus sharing responsibility effects carbon finance through the linkage effect. Therefore,the issue of sharing responsibility for carbon emissions is the major factor of thedevelopment of carbon finance. From the broad angle of view, the distribution ofcarbon emission reduction obligations global directly affects the development of theglobal carbon finance. In the small scale, a shared national responsibility affects theirlevel of financial development. We can expect, with the deep development of carbonfinance, the game of shared emissions responsibility in various countries will becomeincreasingly fierce.This paper starts from China, where the argument is the allocation ofresponsibility carbon emissions directly relates to the development process of globalcarbon finance. Through evolutionary game dynamics, developed and developingcountries as two basic interest groups, prove that only with taking up the responsibilityfor emissions reductions they could obtain long-term development of carbon finance.However China, as the highest carbon emissions all over the world, will be in conflictof dilemma between the long-term and short-term interests. On the one hand, Chinaneeds some time to economic development because of economy lagging behind. Theother hand, China is facing intense international pressure and opportunities for carbonfinance development. Chinese carbon finance development and carbon emissionsresponsibility shared are required to meet for China′s conditions in their "stage" ofdevelopment, which will not to give up the economic development, or carbon financeeither. China should opt for voluntary emission reduction space flexibilitily.Finally, in view of results of the game and theoretical analysis, the analysis putforward to achieve the development of carbon finance through stepping development.China not only needs the foreign aid from international help, including from the EUand other developed countries, India and other developing countriesr, but also needs toimprove its internal mechanism from the tactical development step and making up forthe inadequate carbon financial mechanisms...