| The attempt to develop international cap and trade markets for anthropogenic greenhouse gas emissions, ultimately aiming to determine a global price for carbon, is the most extensive attempt ever made to use market-mimicking mechanisms to deal with an environmental externality. Addressed to the problem of climate change, it is an exercise in the adjustment of the social welfare function on a global scale, and it envisages expenditures which will run into trillions of dollars. Focusing on the operation of the Clean Development Mechanism, the most important of the three flexible mechanisms for carbon trade established under the Kyoto Protocol, it will be argued that carbon trading which will reduce emissions in line with any of the targets set for avoiding dangerous anthropological interference is impossible.The increasing worsening global warming problem brought by greenhouse gas emission.Chinese carbon trading market is an important part of carbon trading market in the world, more than40%of the world carbon trading market share. According to a World Bank study, there are at least1-2million tons of carbon emissions reductions China per year, equivalent to50%of global CDM emissions. Carbon trading cost, directly affects the development of carbon trading market. Chinese began to establish a domestic carbon trading market from2014, our country will be in2016to start a comprehensive carbon market, carbon emissions trading is expected to amount to30billion to40billion tons. but so far there are still many uncertain factors, which hinder the development of Carbon market development.Carbon trading mechanism is the core of the entire carbon trading market, carbon trading is all follow the carbon trading mechanism. At present, carbon trading can be divided into quota trading transactions and project transactions. The stakeholders of carbon trading mechanism in addition to the parties to the transaction, including the carbon financial institutions and the relevant international financial organisations. Carbon trading market of any one of the success of the project requires the interaction of each interest group to complete.although China occupies nearly half of international carbon trading market share, but China still loose the leading position and market profit. On the contrary, due to China’s carbon trading market still underdeveloped, that leak the related knowledge, as well as in the carbon trading companies and agencies rarely, caused our country has been at the terminal carbon trading, on the one hand because of the development of carbon trading project exacerbated China’s greenhouse gas emissions, on the other hand, the increase of greenhouse gas the emission has not brought the corresponding market effect. There are more than half of the project owners to carry over the project transaction cost pressures continue to struggle in the carbon trading market.Therefore, this paper will focus on the transaction cost of carbon trading market under the clean development mechanism (CDM) and the influence factors of transaction cost. A case study of the Western District of Hohhot district heating CDM project, based on the analysis of the effect of CDM project, the main reason of carbon trading cost, and analyses the function of each influence factor, and through the theory of transaction cost economics distinguishes explicit factors and implicit factors, combined with the tip of the iceberg trade model, to set up a model of carbon trading market the transaction cost in CDM project. |
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