Research On Correlations Between Energy Prices,new Energy Index And Carbon Trading Prices

The "United Nations Convention on Climate Change","Kyoto Protocol" and other global long-term strategic agreements have established a political framework and platform model for the carbon emission trading systems of countries and regions around the world.The carbon trading market has become an important tool for controlling carbon dioxide emissions.Since 2013,China has gradually established a carbon emission market represented by seven carbon exchanges in Beijing,Guangdong and Hubei.At the same time,market-based trading risks have also emerged with the development of the carbon market system.Carbon trading prices are not only affected in the carbon market,but more external environmental factors have led to increasingly obvious risks of carbon price fluctuations,such as domestic and foreign energy prices,financial securities Market-related stock prices,etc.Studying the reasons for the fluctuation of carbon trading prices will not only help maintain the stable development of carbon market trading,but also provide constructive suggestions for the nationwide carbon trading market currently under preparation in China,thereby promoting the effective management and control of carbon emission reduction in the carbon market.Market-oriented carbon emissions based on social cost management.This paper is based on the time series data of domestic and foreign energy prices,domestic new energy listed company stock prices,and prices in major Chinese carbon trading markets such as Beijing and Guangdong.The selected interval is from November25,2016 to March 1,2021,passing stability The VEC model is established by means of testing,first-order difference,and co-integration testing.Based on the empirical results,the correlation between energy prices,new energy indexes,and carbon trading prices is analyzed,with a view to obtaining price comparisons among the three.The linkage mechanism provides reference and suggestions for the government to regulate the carbon trading market and carbon asset market operation,and establish a national carbon trading market.