A Study On The Development Of Carbon Emissions Trading Market In Hebei Province

Nowadays, the climate warming has become the focus of governments’ attention, sincethe Industrial Revolution，the greenhouse gas emissions from human activities has becomethe key factor leading to global warming. Therefore, to solve world environmental problemswhich is brought by the global warming, carbon dioxide emissions must be controlled.Currently, carbon trading, as a market mechanism to solve environmental problems method,is considered more economical efficiency compared to government administration, and Chinaalso have begun to establish a domestic carbon trading system. As Hebei Province is one ofthe largest energy-consume provinces, carbon emissions growing rapidly, facing tremendouspressure to reduce emissions, so it has great theoretical and practical significance to analyzehow to use market mechanisms to achieve carbon reduction targets in Hebei Province.The main contents of this paper is divided into the following sections:The first chapter introduces the relevant economic theories of carbon trading, includingexternal theory, Pigou and Coase theorem, and also analyze the marketing principles ofemissions trading market, the concept of carbon trading, model type and operating conditions.The second chapter uses ARIMA model to quantify the emissions reduction targets in2015in Hebei province, intuitive the huge reduction pressure in Hebei Province through adirect way, shows that using market mechanisms to cut emissions is necessary. Dischargecoefficient method is used on carbon emissions characteristics analyzation, and finding thatHebei regional carbon emissions present a trend that north is higher than south; in industryaspects, the second industry, especially the power industry and steel industry are the highestcarbon intensity industries.The third chapter analyzes the feasibility to establish carbon trading market in HebeiProvince, and the current problems existing in the carbon trading market and the restrictingfactors. The major restricting factors are inadequate understanding, lack of institutionalguarantee, insufficient market foundation and technology, the lack of talent and intermediaryorganizations. This laid a foundation for giving advices to develop Hebei carbon market inthe next research.The fourth chapter put forward a comprehensive proposal of how to develop the carbon market in Hebei Province. This chapter has been considered from Multiple angles, they arethe constituent elements of the carbon market, the composition of the carbon market system,the carbon market operation support system and develop carbon market professionals.Innovations of this paper are:(1)ARIMA models are used to quantify the future carbonreduction targets in Hebei Province, and deeply analyze the source of carbon emissions’distribution in Hebei Province.(2) From multiple angles study the development of carbontrading market in Hebei province, the angles are the constituent elements of the carbonmarket, the composition of the carbon market system, the carbon market operation supportsystem and develop carbon market professionals, filling the gaps in existing research on acertain extent.