Research On Construction Of Carbon Financial Market In Shaanxi Province

Since the 20th century,the issue of global warming has attracted much attention.In response to global warming,the"Kyoto Protocol"proposed a new way to mitigate greenhouse gas emissions-carbon finance.In 2009,China promised that by 2020,the country's carbon emission intensity?in terms of CO₂ emissions per unit of GDP?will be 40%to 45%lower than in 2005.In the face of huge pressures for reducing emissions,building a carbon financial market has become an inevitable choice for China.Due to the unbalanced development of all provinces in China,it is very difficult to construct a unified national carbon financial market in the short term,so we can choose to establish a regional carbon financial market first.Shaanxi Province,as the first batch of low-carbon pilot provinces in China,is currently experiencing weak carbon finance development.Therefore,how to construct the carbon financial market is a problem that Shaanxi Province urgently needs to study.This paper first uses the carbon emission coefficient method to analyze the status of carbon dioxide emissions in Shaanxi Province,and provides a basis for the construction of a carbon financial market.Then it puts forward the principles,basis,and difficulties in the construction of a carbon financial market.Then on this basis,an empirical study was conducted on the initial allocation of carbon emission.Finally,the carbon finance market in Shaanxi Province was constructed from the six trading platforms,trading entities,trading objects and instruments,carbon emission rights management,intermediary agencies,and legal systems and regulations.The following conclusions were drawn:?1?The CO₂ emissions of Shaanxi Province are basically increasing year by year.The average annual growth rate is 6.89%.The carbon intensity is decreasing year by year.The emission reduction has achieved initial results.However,there is still a distance from the target of carbon intensity reduction.And Yulin is the major city for emission reduction work;CO₂ emissions in Shaanxi Province are mainly concentrated in the secondary and tertiary industries;the main sources of carbon emissions in the secondary industry are industrial sectors,which are mainly concentrated in coal mining and washing,petroleum processing,coking,and the nuclear fuel industry,electricity,heat production and supply industries and chemical raw materials and chemical products manufacturing industry.?2?From the initial distribution results of carbon emission,the carbon emission in Xi'an,Shangluo,and Ankang are relatively surplus,while the carbon emission allocated by Yulin and Tongchuan are overdrawn,and Shaanxi Province has a carbon trading basis.From the point of view of the distribution scheme,the carbon budget proposal fully reflects the fairness and operability of the distribution,and can provide a certain reference for the initial allocation of carbon emission in the construction of the carbon financial market.?3?Shaanxi Province will establish a carbon financial market based on quotas,and its construction will be completed in three phases.In the first phase from 2018 to 2020,the Shaanxi Carbon Finance Market will establish a professional carbon trading platform based on Xi'an,and select four industries as the main body of trading,choosing CO₂ as the trading object for carbon spot trading activities;the second phase of the period from 2021 to 2025,the carbon financial market will create a platform based on province,and include transportation into the trading entities,and the trading partners will gradually extend to the remaining five greenhouse gases to conduct carbon spot trading and related investment and financing activities.The third stage will be perfected from 2026.The carbon financial market will develop a carbon trading platform based on the western region.It will comprehensively calculate the all greenhouse gases in all industries,vigorously develop trading tools such as carbon futures and carbon options,and make full use of the role of the carbon financial market,achieve a win-win situation of energy-saving emission reduction and economic growth.