Research On Our Carbon Emission Rights Allocation And Accounting Treatment Under The Background Of Carbon Market Development

The current climate warming has been a serious threat to human’s survival, social development and so on. The climate problem causes sea level to rise, natural disasters frequently to occur such as drought and snowstorm. It has mankind begin to increase awareness of climate change. With the active efforts of the international community, the "United Nations Framework Convention on Climate" and the "Kyoto Protocol" are introduced to set out the responsibility of forced emission reduction from development countries. The appearance of international legal policy has promoted the formation and development of international carbon markets, especially based on quota. And the emission of Greenhouse gas has been effectively controlled. But at the same time, it has brought a big trouble to existing accounting system because of the complexity of the quota of carbon emissions rights on allocation, delivery, trade and management. It will cause important influence to the promotion of the development of the carbon market with the problems solved. Also, it is necessary to build the carbon market based quota and go along with low carbon economy model road according to the huge pressure China faces. So there is important theoretical and practical significance to research these problems.The article is focused on the emerging carbon market under low carbon economy model. The article researches the carbon emission rights allocation and accounting treatment from the point of view of economics and accounting together. The article analyzes the carbon emission rights trade with emission trade theory, property rights theory, sustainable development theory and option theory as starting points. On practice basis, we explain the formation, the trade system, current situation, and development tendency of the international carbon market. We analyze the current situation and the main problems of domestic carbon market. The article analyzes that it is necessary to build the carbon market based on quota. We go deep into analyzing the distribution mode of the carbon emission rights with quota market. The article designs the initial distribution mode of domestic carbon emission rights as EU ETS a starting point. The article analyzes the application of option mechanism in carbon emission rights initial allocation, points out the application advantages of option mechanism, puts forward the meaning of carbon emission option, uses the option pricing method to discuss the pricing of carbon emission rights in theory. The accounting treatment problems of carbon emission rights are deeply analyzed including the accounting recognition, accounting measurement, accounting record and disclosure of carbon emission rights. The facts show that carbon emission rights should be recognized as intangible assets based on the theory disputes what assets the carbon emission rights belong to. The article puts forward that the accounting measurement of carbon emission rights divides into measurement of carbon emission and carbon emission trade. Then the definition and measurement method are analyzed separately. The accounting record of carbon emission rights is discussed by setting account and accounting treatment. At last this article points out that the disclosure of carbon emission rights should take the way to integrate balance sheet and off-balance-sheet and summarizes the disclosure content synoptically.