Research On Carbon Emissions Trading Legal System

Carbon emissions trading is coming from the concept ofemission trading which was raised by economists in order toaddress the issues of externalities in20th century. It is an importantenvironmental and economic policy of the market economy. Tomeet sustainable economic development requirements andresource-saving and environment-friendly society’s requirements,the study of carbon emissions trading is quite necessary. Emissionrights are also scarce resource. Nowadays China’s current academicunderstanding of carbon emission rights got through a evolution of“rights-goods-currency”. Its legal property has differentunderstanding of usufructuary right, quasi-property rights,environmental rights, property rights, etc. The legal relationship ofcarbon emission rights trading need to sort out between thehorizontal trading kind and vertical control and regulation kind.The introduction of “United Nations Framework Convention on Climate Change”,“Kyoto Protocol”,“Copenhagen Agreement”and other international conventions form the international rules ofcarbon emission rights trading. In the promotion of carbonemission rights trading, the EU, the States and other developedregions and countries lead the way, establishing a relativelycomplete system for carbon emission rights trading, accumulatingthe experience of setting the trading platform of carbon emissionrights trading, establishing specific areas for regional rulesapplicable to a particular country’s domestic rules.China’s carbon emission rights trading is mainly reflected inthe pilot area of local legislation. To face the challenge encounteredin the process of carbon emission, this paper attempts to combinenational conditions of China’s carbon emission rights trading andlegal system to analyze the status quo, and proposes appropriatelegal system improvement recommendations in the transaction, theobject gas, the initial allocation of carbon emission, idle period.