| It has been 15 years since the first SO2 emission trading case launched in China in 2001,and the pilot work has matured during this period.Government plays a crucial role in the formation of the rights in emission trading as an important participant in both primary market and secondary market.Why does government been regarded as the best supervisor? On the one hand,administrative means is the most convenient and efficient regulatory path in the general field of environmental law.On the other hand,government regulation is the most acceptable method to avoid the risk of market failure in the real operation of the secondary market.Therefore,although the price of emission trading should be determined by the market,the rules of the emission trading should be made by government.We have made great achievements after 15 years of pilot work,however,there are still some problems exists such as lack of supporting policy formulation,imperfect trading rules and inadequate supervision.Those problems lead the government to a place to do their best to “babysit” the market and reduce the supervision function of government.In contrast,since the emission trading system was implemented in the United States during the last century,this system there is far more advanced.For example,the legislation is relatively complete,the network of monitoring covers more places,besides,a number of sensitive points have been set up to be trigger.In addition,the socialization mechanism in the United States is developed better.For instance,a series of environmental protection organizations and even individuals can become a supplementary regulatory power.As can be seen,the US government's regulation is more relaxed than that of China.It is necessary to improve the government regulation of the emission rights trading in China by strengthening the coordination of various government departments,establishing the monitoring information sharing mechanism and strengthening the social supervision mechanism. |
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