Study On The Influencing Factors Of Carbon Price In China

Since the 1990 s,with the trend of global economic integration,countries have come to realize that the economic growth at the expense of the ecological environment is a challenge to sustainable development.The progress of science and technology to promote social productivity,improve people's quality of life at the same time,but also brought about the increasingly serious greenhouse effect,extreme weather.On September 3,2002,China announced the approval of the Kyoto Protocol.From November 30 to December 11,2015,the 21 st Conference of the Parties to the United Nations Framework Convention on Climate Change was held in Paris,France.Thirtyeight national leaders and 195 delegations attended the meeting in France.The collaboration to strengthen climate change action in the years requires developed countries to reduce emissions by more than 25 per cent of greenhouse gas emissions by 1990 and to provide US $ 100 billion in financial support to developing countries each year and to establish technology transfer mechanism.2014 "two provinces and five cities" carbon emissions trading center started.2017 China will establish a unified national carbon emissions trading market.In this context,exploring the factors that affect carbon price volatility helps to understand the linkage between the carbon trading market and the relevant market,find the problems in the carbon trading market,and circumvent the risks that may arise.This paper focuses on the factors affecting China's carbon price from the following aspects:First,the relevant theory and literature to read the study,on the basis of theoretical support,select the appropriate research methods to study.Second,from the aspects of supply and demand,combined with the current situation of China's carbon trading market,analysis of carbon quota release,clean energy price changes,non-clean energy price changes,changes in energy conversion costs,changes in macroeconomic development of carbon The impact of the transaction price.Carbon quota for the supply side of the impact of the remaining demand for the impact.Thelogic of the demand side is that when the price of energy and the macroeconomic form change,it will cause the change of carbon quota demand and cause the fluctuation of carbon price under the market mechanism.In theory,there is a positive correlation between clean energy prices,energy conversion costs,macroeconomic conditions and carbon prices;there is a negative correlation between non-clean energy prices and carbon prices.Third,the static panel regression model and the dynamic panel vector autoregressive model are constructed based on the theoretical analysis.The energy conversion cost,the non-clean energy price and the short-term and long-term relationship between the macroeconomic development and the carbon price are analyzed from the empirical point of view.Fourth,based on theoretical analysis and empirical analysis to draw conclusions and put forward policy recommendations.