The Pricing Of Air Pollutants Emission Trading

Since the first and second industrial revolutions,the world's economy has been developing rapidly with industrial enterprises playing an important role.However,in the early period of industrialization,high-polluting heavy industry occupied half of the entire industry.Pollutant emissions have become a major global problem.China,as a developing country,put too much emphasis on CDP growth in the thirty years of reform and opening.Economic development often overlooked environmental protection.In recent years,China's environmental pollution problem becomes more and more serious.The country's major cities have emerged haze and other weather.Nature has made a warning to us.China's government is also putting more emphasis on pollution problems,increasing emission-reduction efforts.Active innovation in the sewage system has carried out.The allocation of emission rights system is now being actively applied by governments to the practice of pollution control as an important system,which is of great significance.In the early days,the distribution of emission rights was mainly free of charge,which was prone to "the tragedy of the commons." Moreover,the free use of environmental resources damaged the public interests of environmental resources.This action cannot play a real role in the protection of the environment.Therefore,the establishment of environmental resources trading system is an inevitable choice for pollution control.Emission trading is an economic activity,mainly through market-oriented means,so that both sides of the supply and demand can maximize the rational allocation of emission rights to reduce pollutants.Emission rights are an important component of environmental resources,whose value and price are the external manifestation of value.Therefore,the pricing of emission rights in the transaction is inevitable.Determination of the price of emission rights is the core of the whole trading link.Since 2007,the relevant departments of the State Council have organized some pilot projects in 11 provinces(autonomous regions and municipalities)such as Tianjin,Hebei and Inner Mongolia to make compensation for the use and trading of emission rights,and some progress has been made.With the deepening of the study on the pricing of emission rights,the application of emission pricing will inevitably be carried out in the future.Based on the theory of emissions trading,this paper uses the replacement cost method to calculate the price of air pollutants in Shandong Province.Based on the predecessors' research results,the regional adjustment coefficient,the industry adjustment coefficient and the pollutant adjustment coefficient are introduced to calculate the price of the sub-region,sub-industry and pollutant.In this paper,we focus on the pricing of air pollutant emissions trading and demonstrate as the following five chapters.The first chapter is the introduction,mainly to clarify the background of the research topic,and then the initial emission rights trading pricing related to the basic concepts were introduced.At last,the research methods and the structure of the paper are introduced.The second chapter is literature review of the pricing of initial emission rights.In the literature review,a detailed literature review is made from two aspects:the initial emission trading and the emission pricing method.The replacement cost method is used to determine the initial allocation pricing of emission rights.The third chapter explains the theoretical basis and pricing model of initial emission trading pricing.Based on replacement cost method,the initial allocation pricing model of pollutant emission rights is established.The adjustment coefficient of industry and regional adjustment coefficient are introduced in detail.The influence factors of initial price are analyzed,and the weight of regional adjustment coefficient is determined by factor analysis.The coefficient of industrial adjustment coefficient is determined by referring to the existing classification standard of industrial structure coefficient,so the pollutant coefficient is determined according to the limitation of the study and the sulfur dioxide is chosen as the pollutant.In the fourth chapter,the author analyzes the current situation of the air pollution and the trade of emission rights in Shandong Province,and analyzes the feasibility and inevitability of the pricing of emissions trading in Shandong Province.According to the transaction pricing model determined by the replacement cost method in Chapter 3,the estimation results of emissions trading are determined based on the real data of Jinan,Shandong Province and the related analysis.In the fifth chapter,the author summarizes the pricing model of emission rights and puts forward the shortcomings of this paper and the prospect of future research.