A Study On Influence Factors Of Carbon Emission Rights Price

Carbon emission rights trading,as a tool based on market economy,has been one of the most important ways of controlling worldwide greenhouse gas of which emissions and concentration causing global warming.The paper introduces EUA and CEA as objects of carbon market trading based on the analysis of carbon emission rights markets and their structures of both EU and China with consideration to current domestic situation.Then,factors which may influence carbon emission rights trading price,including government policy and events,global production and trade condition,energy price,capital market and natural environment,are systematically discussed.Afterwards,to seek the relationship between EUA or CEA and their respective independent variables,a multiple regression analysis is used in both EU and China scenarios with indictors selected under dimensions of energy price,security market and global production and trade condition.The results indicate the similarities and differences between factors’ influence on carbon rights price in EU and China carbon markets.In the aspect of industrial metals,copper price shows a positive correlation with carbon rights price while aluminum a negative correlation in both EU and China scenarios.In the aspect of BDI,there is a positive correlation in EU scenario and a negative correlation in China scenario.In the aspect of energy price,there is a positive correlation in China scenario and a negative correlation in EU scenario.According to the above results,the paper deeply analyzes the causes and gives relevant suggestions.