A Study On The Application Of Carbon Pricing In China

Economic develoopment has brought about the problem of climate warming,and now all countries in the world have noticed the seriousness of climate warming,and have taken a series of measures.China has developed rapidly in recent years,but there are irrational energy structure,environmental awareness is not strong and other issues,resulting in carbon dioxide emissions ranked first in the world.Because of China’s population belongs to more countries in the developing world,carbon dioxide emissions are also more,China is a responsible big country,so China will be responsible for the social environment,to reduce carbon dioxide emissions,the establishment of low-carbon city.In order to reduce and make rational use of carbon dioxide,China is ready to establish a nationwide carbon market.In the process of building the carbon market,carbon pricing is the first problem to be solved,and also a critical part of China’s pricing power in carbon emission rights and China’s international status.Firstly,this paper discusses the definition and properties of China’s carbon emissions,that carbon emissions in China’s accounting standards has been defined as carbon assets and has the property of commodity,and analyzes the status quo of China’s carbon emissions pricing and problems.On this basis,by comparing and analyzing the existing methods of carbon emission Pricing:shadow price,marginal emission reduction cost and real option pricing,from the point of view of enterprises,this paper puts forward the method of balance of payments pricing.Analysis of the characteristics of each kind of pricing methods and the advantages and disadvantages,combined with the development stage of China’s carbon trading market,with a wind power project as an example,the balance of payments pricing method is applied to the carbon emissions of stock pricing;taking Shenzhen carbon exchange trading data based on real option pricing using simulation method to calculate the carbon emissions derivatives prices.Draw the following conclusion:balance pricing method can be used as a method of pricing carbon emissions to spot the carbon trading market on one hand can make the mid carbon emissions price provide the reference price for the enterprise,on the other hand can easily influence factors of price changes in business analysis,adjusted price;B-S option pricing method can be used as a carbon trading market late carbon emissions pricing method,more than two tree and Monte Carlo pricing method to use more convenient.Finally,in view of the status quo of China’s carbon emissions pricing and the existing problems,put forward some constructive suggestions from the enterprise and the national perspective:the change of carbon emissions cost management methods and concepts,the correct evaluation of the carbon emissions of the expected rate of return,improve the carbon trading market pricing mechanism,legal system construction,to risk control is the core of the carbon trading market pricing mechanisms and the establishment of stable carbon trading market price regulation mechanism.