Analysis Of The Impact On The Enterprises Emission Reduction Cost And Decision Caused By Carbon Emission Trading

"Kyoto Protocol" had set quantitative abatement targets of the developed countries and three market trading mechanisms, under the mandatory emission abatement constraints, countries can achieve the emission reduction targets through carbon emission trading. Therefore, many countries in the world have established carbon emission trading system, the carbon emissions regarded as the commodities can be traded in the market,due to this, carbon finance as a new research field arise spontaneously.Carbon emissions trading has become a low-cost means of reducing emissions, due to this,it has led to the following questions: after the establishment of the carbon emissions trading market, from the enterprises level, whether the enterprises emission reduction cost will be effectively controlled, how do the enterprises reduce emission,From the government level, whether is more conducive to complete the emission reduction task for the governments after the introduction of carbon emissions trading market, These are also the core problems in the study of carbon finance. In view of the above problems, this paper tries to establish a theoretical model to seek answers.Firstly, the paper established an optimal decision model by taking the rate of emission abatement and the rate of carbon permits trading as decision variables, the level of accumulative carbon permits as a status variable, the total cost of emission abatement as an objective function. And then by using the dynamic optimal control technology, we deduct the four theorems in two different situations and the optimal decision under different conditions, we also derive the minimum total reduction cost and the marginal abatement cost. Finally, the simulation analysis was carried out on the model by collecting the data.Through the theoretical analysis and the simulation analysis, we have drawn the following conclusions: Firstly, the decisions of carbon emissions reduction are affected by the carbon emission rights’ market prices, the energy premium cost and whether the enterprises have the extra carbon emission rights for the sale at t time; Secondly when the emission market price is higher than the discounted cost of government punishment,enterprises which have the excess emissions will choose to accept the final punishment not to transact the carbon emission in the market, so the effects of the emission trading market will disappear; thirdly, the enterprises’ marginal abatement cost and the total emission reduction cost when the enterprises participate in the carbon trading will be lessthan these accordingly when the carbon emission market has not be established. Finally,the government is more likely to achieve the emission reduction task during the plan period after the carbon emission market is established. The above conclusions have certain guiding significance for making the decision about abating and establishing carbon emission market.