Study On Performance Mechanism Of Carbon Emission Trading In China

The construction of carbon emission trading market is a major institutional innovation to control and reduce greenhouse gas emissions and promote green and low carbon development.In 2014,China’s seven provinces and cities carbon emissions trading pilot fully started,for the establishment of a national carbon market.In 2021,China’s first carbon trading performance period began,marking the official start of the national carbon market.Carbon trading performance is the core of carbon trading.Only when the market main body performs in time and efficiently can the social and ecological benefits of carbon trading system be ensured.Carbon emission rights have both public and private compound attributes,which are interfered by state administrative power in the actual operation process.At the same time,due to scarcity and certain dominance by private subjects enjoy.The performance of carbon emission right transaction refers to the behavior that the performing subject has the legal quota obligation and carries on the carbon emission according to the stipulation.The carbon emission trading performance mechanism is closely related to the ecological environment,involving many subjects and flexible performance methods.The lack of performance incentive measures makes it difficult to start with the reverse guarantee,thus affecting the performance benefit of the performing parties;the lack of carbon verification legislation makes the carbon performance lack of complete operating basis and legal support;the introduction of third-party verification mechanism of carbon verification can easily lead to power rent-seeking;excessive discretion of regulatory authorities can easily lead to local protectionism and low performance rate;the establishment of performance grace period in disguised form prolongs the performance period of the performing parties,which does more harm than good to the performance of the guarantee transaction;the punishment of carbon emission breach is low and it is difficult to deter and restrain;The importance of carbon information disclosure has not been paid attention to,which increases the risk of carbon performance and affects the overall performance benefit.The main factors affecting the performance mechanism of carbon emission trading in China are: insufficient supply of legal incentive measures and lack of self-motivation measures;insufficient supply of carbon verification legislation and lack of independence of third-party verification agencies at the level of carbon verification procedures;uncertainty of default risk and low cost of compliance law regulation at the level of carbon information;At the level of carbon emission awareness of the performing subject,the performing subject is affected by economic interests and is not bound by the law-abiding theory,which leads to the weak awareness of carbon emission of the performing subject.Aiming at the deficiency and restriction factors of the performance mechanism of carbon emission trading in our country,first,to clarify the rights and obligations of the performing subject through legislation and introduce incentive measures to improve the enthusiasm of the performing subject;second,to strengthen the supply of carbon verification legislation and adjust the focus of carbon verification;third,to delete the legal liability of carbon trading and strengthen the illegal restraint;fourth,to strengthen carbon information disclosure legislation and external supervision;fifth,to improve the social responsibility of the performing subject by raising the awareness of carbon management and introducing the ESG concept.