Research On Pricing Mechanism Of Carbon Emissions Trading In China

Actively addressing global climate change and striving to reduce carbon emissions through carbon trading has become a consensus of the international community.In 2018,global CO₂ emissions reached the highest level on record,and China has become the world's largest carbon emitter.In order to reduce carbon emissions and solve the problem of greenhouse gas emissions,China has accelerated the construction of a carbon emissions trading market,and officially launched a nationwide carbon trading market at the end of2017.Compared with the carbon market in Europe and the United States,China's carbon market construction has a late start and a low starting point.As the pricing mechanism of the carbon market trading core,its construction lacks certain theoretical and practical experience.Therefore,the research around China's carbon emissions trading pricing mechanism is particularly urgent and important.In the above background,the paper studies the pricing mechanism in the domestic carbon emissions rights market trading system.Based on the existing research,the paper analyzes the pricing mechanism of carbon emissions trading and the development of carbon trading at home and abroad from the theoretical level,and finds that the pricing mechanism,especially the core pricing method,is not mature and perfect.Then the pricing methods of carbon tax and carbon trading mechanism are analyzed systematically,and the relevant market transaction data and B-S-M model of the EU emission trading system are used for empirical analysis.It provides a constructive strategy for improving the pricing mechanism of carbon emissions trading in China.Firstly,this paper discusses the background,significance,thought and method of the pricing mechanism of carbon emissions trading in China,and reviews the results of the pricing mechanism of carbon market in detail.On this basis,the connotation and extension of carbon emissions trading are precisely defined,and the theory of Coase's theorem,emission rights theory,externality theory,and environmental finance theory are the theoretical basis for this study.The development of carbon emissions trading pricing mechanism is analyzed and compared from the perspective of international and domestic markets,and the theoretical support is found for the construction and improvement of carbon trading pricing mechanism in our country,and the construction of the National carbon emissions trading market is promoted.Secondly,the article thinks that the pricing method is the core of the construction and development of any market pricing mechanism,and the carbon emissions trading market is no exception.Carbon taxes are price-based pricing instruments that are characterized by low implementation and information costs,compliance with the polluter-pays principle and government adjustments based on the size of greenhouse gas emissions;The carbon trading mechanism is a quantity-based pricing tool that deals in the quota market and the project market through the three trading mechanisms of the joint implementation mechanism,the emissions trading mechanism and the clean development mechanism,and eventually achieves carbon emission reductions.Finally,given that the domestic market for the exchange of carbon emissions is at a critical stage,This paper focuses on the problems of weak carbon emissions trading infrastructure,distorted and volatile carbon emissions trading prices,high policy dependence on the development of carbon emissions trading,imperfect disclosure of carbon emissions trading market information,and lack of carbon emissions trading agencies.,put forward some practical suggestions:speeding up the construction of a unified National carbon trading market,improving the price stability mechanism for carbon emissions trading,promoting market-oriented operating models,improving the timeliness and accuracy of market information disclosure,and strengthening the awareness of carbon market trading.It is hoped that these suggestions will help to speed up the construction and improvement of the pricing mechanism for carbon emissions trading in China.