The Research On China’s Carbon Finance Development And Legal Path In Post-Kyoto Era

Over the past20years, extreme weather and frequent natural disasters and theincrease of the phenomenon such as rising sea levels caused great harm to humanbeings, climate change is an unprecedented global attention, save the earth became thevarious countries’ basic consensus. Carbon finance is the important mechanism ofinnovation in the financial system to cope with climate change, also it is in theservice of the greenhouse gas emission reduction of financial system arrangement andfinancial trading activities. The carbon finance comes from the international climatepolicy changes, specifically two significant international convention, the UnitedNations framework convention on climate change and the Kyoto protocol. The Kyotoprotocol created three flexible mechanisms, namely the IET、JI and CDM, which gavebirth to the global carbon financial market. According to the provisions of the Kyotoprotocol, China as a developing country is not liable for mandatory carbon abatementobligation in2012years ago, but with China on the global economic system, theposition is more and more important, energy consumption and greenhouse gasemissions growth, the developed western countries are less willing to put China out ofthe bear the obligation of the mandatory cuts outside the country. The Internationalclimate negotiations has struggled in Post-Kyoto era, developing countries includingChina also will be included in the scope of the mandatory cuts. Facing huge reductionpressure, China needs to find a new way out, constructing China’s carbon financialmarket is undoubtedly the most feasible one option.At present, the global carbon financial market developed rapidly, formed thecarbon financial market system and carbon financial organization service system.InChina, the carbon financial market just start, not only lack of carbon financialdevelopment of long-term planning, also lack detailed development countermeasures,and it is far from the level of international development.Research the development ofChina’s carbon financial legal path in the post-Kyoto era, I hope it will improve ourcountry discourse in the international carbon market, take the initiative to gain theupper hand for China to fight global climate negotiations, also strive for greater spacefor China’s economic and social development.