Research On Price Of Carbon Missions Trading Market

As one of the important problems facing the world today, there are many perspectives and various methods in solving the environmental issue. Emission permits trade of carbon has been one of the economic categories, which frequently appears in discussing environmental issue in recent years. China has become the largest carbon emission supplier, yet certain prominent theoretical and practical problems still exist and affect China's low-carbon economy. The system of emission permits trade market is still at the stage of exploratory and adaption. So the research on the theory and application has particular significance.Based on the situation of international and national carbon market, this study firstly introduces theories of emission permits trade and carbon emission reduction and attempts to emphasize on construction of the system for carbon under the market mechanism. Secondly, introduces the option mechanism into the emission permits trade of carbon. Firstly, analyze major factors influencing emission permits trade of carbon from such perspectives of rules for emission permits trade of carbon, emission reduction policies, funds mechanism, and operation mode and so on, laying the theoretical foundation for construction of the system for emission permits trade of carbon in China. Thirdly, build a theoretical model pricing carbon emission reduction, in which the emission reduction is considered as a special resource. In the model, the formulas of the highest demand price and lowest supply price for a country are derived through the perturbation analysis. Fifthly, conduct a feasibility study on the construction of the system for emission permits trade of carbon in China. It is believed that China is equipped with the basic conditions to carry out emission permits trade of carbon, and based on summary of the experience of foreign countries in emission permits trade of carbon, it brings forward the suggestions on solution aimed at the existing problems. In the last chapter, the study conceives construction of the system for emission permits trade of carbon, and introduces the option mechanism in the initial distribution of carbon emission rights, and conducts pricing and verification of EUADEC-10 quota by adopting B-S model and ARCH model.