| Since that the environmental externalities could be solved by system design onthe basis of neoclassical economics proposed by Pigou, the environmental policyinstruments gradually become a hot issue in the environmental economic field ofstudies. For the current global warming, environmental pollution and other issues,countries all over the world have adopted a series of environmental policy instrumentsfor environment constraints on the economic development to achieve the harmoniousdevelopment of economy, environment and society. During the Global climateconference in Copenhagen, China has made a commitment that comparing to thecarbon dioxide emissions of2005, our carbon dioxide emissions decreased by40%to50%in2020. China is facing enormous pressure to reduce emissions. Therefore, inorder to achieve sustainable economic development, it is an important issue needed tobe solved in our country that how to design and implement scientific and effectivecarbon reduction policy tools, which could guide a concerted, voluntary carbonemission reduction. The carbon emission reduction policy system of greenhouse gasemissions is established by the EU in2005—the carbon emissions trading system(EU-ETS), which not only achieves the enterprise independent emission reductionthrough the market mechanism, but also achieves the optimal allocation of carbonassets and guides the real economy to achieve a low-carbon transition. However, thetraditional command-control type-based environmental policy instruments are stillimplementing in China. There is still a large gap with the developed countriesespecially in the design and implementation of market-led carbon reduction policytools. It is mainly reflected in various aspects, such as the lack of resources, whichlead to the limited detection capability and detection range, the more difficulties ofachieve carbon emissions estimate and the not well-established vertical unifiedsupervision system and the great control cost of regulatory authorities’ detection andsanctions that lead to the phenomenon of high costs of corporate compliance,regulatory authorities implement and the low cost of illegal business. It not onlyaffects the improvement and promotion of carbon emission reduction policies inChina, but also causes an increase in the social and economic costs. Hence, the size and quantity of emissions should be considered for the selection and implementationof carbon reduction policy tools. The cost efficiency of social and economic costsshould be considered as well. Therefore, the study of the operating mechanism ofmarket-based carbon reduction policy tools, which consider the cost-effectiveness, haspractical significance. In this regard, this study is as follows:1. It analyses the theory origin of the implementation of environmental policytools, such as the analysis of the external environment, the resource property right,market failure and policy failure, pollution control and the analysis of other aspects. Itreveals the mechanism of the market-based carbon reduction policy tools through theanalysis and comparative study of the theoretical basis of carbon emissions and otherenvironmental issues of the governance carbon reduction policy tools. There is ameticulous research on the study and classification of environmental policy tools onthe basis of the theory analysis. It quantitatively analyses the China’s low-carbondevelopment policies on the issue of design, organization and implementation of ourcurrent carbon emission reduction policy instruments. It also studies and analyses theoverflow, deficiency and the conflict during the selection, organization, match andconstruction of the low-carbon policy instrument. The research shows that in ourcarbon-based policy instruments, the overflow phenomenon exists during theapplication of the environmental policy tools. It shows that the relevant supportingpolicy development is not perfect and the need-based policy instruments appliedfrequency is low. Therefore, it is required to optimize the frequency of use ofenvironmental policy tools, enhance the operability of the policy, and emphasize theleading role of the supply-and demand-based policy instruments for the developmentof low-carbon economy. The frequency of use of these two types of policyinstruments should be increased.2. It analyses the impact mechanism of the different types of carbon reductionpolicy instruments, such as the carbon emission standards, carbon emissions tradingand the carbon taxes, which affect the government and corporate behavior. The studyshows that the environment could be sustains improved through the policy measuressuch as reducing the cost of government regulation, increasing the penalties forpolluting enterprises and increasing government rent-seeking and regulatory costs.The enterprises should change their business development model and improveproduction technologies and processes to produce low-carbon and personalizedproducts. Also, the enterprises should continuously improve their core competitiveness. The government should strive to reduce regulatory costs, punitivecosts and transaction costs. In order to encourage enterprises to improve productionefficiency, change their developing measures and reduce environmental pollution, thegovernment should formulate and implement scientific and rational environmentalpolicy tools. The government should pay attention to the supervision and managementof the government and regulatory agencies and change the performance evaluationsystem that just relies on the GDP growth as an indicator. Also, the governmentshould establish a green GDP as the core of the performance evaluation and therent-seeking behavior should be abandoned and the overall efficiency of social controlshould be enhanced.3. The carbon emissions factors Laspeyres index decomposition model isconstructed, and use relevant empirical data to explore the deep-seated causes of thevarious factors that impact on carbon emissions and generate carbon emissions.PSO-PP evaluation model is built for carbon emission reduction capabilities of eachregion and as the basis of which establishes the carbon emissions directional distancefunction to calculate inter-provincial carbon abatement regulation cost, the resultsshow that the most provinces of China have carbon abatement regulation cost, and themajority of these provinces are in the central and western regions, and thedevelopment of methods of these provinces are based energy-dependent, large energyconsumption and carbon emissions, which have high carbon abatement regulationcost, it is epitomizes the issue of government has high regulatory costs, andenterprises have low violation costs, which shows that our carbon emissions controlsin each region to focus on the impact of the cost-effectiveness of regulatory costs oncarbon emissions control efficiency of policy implementation.4. The regulatory optimal planning model is adopted in this paper, taking intoaccount the abatement costs, monitoring costs and the sanctioning costs at the sametime, the optimal cost effectiveness regulatory decisions of regulators are examinedunder different types of market-based carbon emissions reduction policy instruments,Conclusions are as follows: In order to complete the carbon emissions reductiontargets that caps aggregate carbon emissions of a given emissions, the marginal costof changing carbon emissions standards and probability of inspection can be regulatedby regulator to make the social and economic costs to realize the optimal costeffectiveness; Implement of carbon trading permits can make the social and economiccosts to realize the optimal cost effectiveness under the low monitoring costs and special conditions; Through comparative analysis, carbon trading permits have morecost effectiveness than that of carbon emissions standards under imperfectinformation. Finally, attempt to design the operation mechanism of market-basedcarbon emissions reduction policy instruments in our country, and references areprovided for the design, enforcement and choice of carbon emissions reduction policyinstruments of our country. |
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