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Carbon Finance Strategies Of Chinese Petrochemical Enterprises Under The Emission Reduction Background

Posted on:2017-10-30Degree:MasterType:Thesis
Country:ChinaCandidate:Y LiuFull Text:PDF
GTID:2311330512952587Subject:Finance
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The "Kyoto Protocol" has created a carbon emission trading system,it is a kind of market mechanism which treats the carbon emission as commodity,and it has helped to solve the contradiction between economic growth and environmental protection.Many countries have set up their own carbon emission trading mechanism under the framework of the “Kyoto protocol.The carbon emission trading mechanism does help to reduce greenhouse gas emission,while at the same time it has brought risks and shocks for the petroleum and petrochemical industry.In this essay,the study starts from the comparative analysis of the development and current situation of domestic and international carbon emission trading market,and by using EU carbon emission trading mechanism as the research sample,we analyze the impact of the EU's carbon trading mechanism on the petroleum and petrochemical industry.Then we further analyze the current situation and development schedule of domestic carbon emissions trading market,we has also conducted statistic analysis on the carbon market practice by the domestic petroleum and petrochemical enterprises,through the analysis we found that both the pressure brought by the upstream supply chain and the change on environmental legislation have decided that the domestic petroleum and petrochemical companies must carry out carbon trading practice as soon as possible,so as to offset the risks and shocks brought by the carbon trading mechanism.The previous research mostly focus on the study of carbon emission trading mechanism.Different from those study,and based on comparative study and statistical analysis,this essay emphasizes on the research and study of the emission trading strategy of petrochemical enterprises.By studying the measures taken by the european petroleum and petrochemical enterprises,we could know that to offset the risk brought by the EU carbon emission trading system and enhance their capability on carbon asset development and management,those enterprises have taken the following strategies: technical innovation,participation in CDM and JI projects,carbon emission market operation,increasing R & D investment and more investment in sustainable energy.Considering the specific situation of Chinese petroleum and petrochemical industry and the situation of Chinese carbon emission trading market,the domestic petrochemical enterprises can participate in international carbon trading market through CDM project,in this way it could accumulate tradable carbon asset;For the emission reduction happened before CDM registration and for those failed CDM projects,the owners could consider to apply for the registration of VER projects to participate in the voluntary carbon market;At the same time,petrochemical enterprises should strive to improve their carbon asset development ability,they could improve the ability through technology innovation and emission reduction measures etc;Besides that,petrochemical enterprises should pay more attention to the carbon asset management,and through the establishment of carbon asset management system,Carbon Asset Management Center,carbon asset management information platform and internal carbon trading platform,petrochemical enterprises could create a complete carbon asset management chain on the group level.For the above emission trading strategies,more concrete implementation steps are given in this essay.Current research on emission trading focuses on theoretical research or study on carbon emissions mechanism,while different from those study,the perspective of this essay is on the micro level of petroleum and petrochemical enterprises.And this essay emphasizes on the study of feasible carbon trading strategies,the perspective of analysis is more unique and the study has more practical significance.Hoping this study could provide guidance on the emission trading practice of the petrochemical enterprises,so that it can choose suitable emission trading strategies to simultaneously achieve the goal of economic growth and environmental protection.
Keywords/Search Tags:Emission Trading, Emission Trading strategy, Carbon Asset, petroleum &petrochemical enterprises
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