Research On Carbon Emission Reduction Investment Strategies Of Thermal Power Companies Under The "Dual Carbon" Target

At present,the global energy consumption structure is undergoing the third transition,and in September 2020.at the 75th session of the United Nations General Assembly,General Secretary Xi Jinping made a commitment on behalf of China-to strive to reach peak CO2 emissions by 2030 and strive to achieve carbon neutrality by 2060.In the 14th Five-Year Plan for Energy Development,it is clearly pointed out that in the future development process,China should pay more attention to energy saving and emission reduction in the field of thermal power generation,in order to achieve the expected economic development goals and maximize social and economic benefits by minimizing carbon emissions,in which the optimization of resource allocation is crucial.The optimization of resource allocation is crucial in this process.As the proportion of electricity consumption in end-use energy will gradually increase in the future,thermal power companies that are included in the carbon trading system should pay more attention to carbon emission reduction investment,which is as important as business operation,to achieve the "dual carbon" target and protect corporate income.Based on this,this paper investigates the carbon emission reduction investment strategies of thermal power companies under the"dual carbon"target.The main research work of this paper is as follows:(1)summarize the current situation of thermal power enterprises’ investment in China,discuss the mechanism of the impact of the"dual carbon"target on thermal power enterprises investment based on the "dual carbon"target and its related policies,and point out the problems and dilemmas that thermal power enterprises’ investment will face.To discuss the impact of the "dual carbon" target on the investment of thermal power companies,and to point out the problems and dilemmas faced by thermal power companies.(2)Construct a model of carbon emission reduction investment strategy for thermal power companies under the"dual carbon"target.The risk factors of thermal power enterprises’ carbon emission reduction investment are identified and classified,and the risk factors are elaborated from three perspectives of policy,market and technology risks.(3)Research on the application of carbon emission reduction investment strategy model for thermal power enterprises.For specific cases,the risk index weights of carbon emission reduction investment are calculated,and the traditional NPV and fuzzy real options investment strategy models are used respectively to study,compare and analyze the investment strategy results,verify the scientific feasibility of the real period investment strategy model in the investment strategy of thermal power enterprises’carbon emission reduction projects,and give investment decision related suggestions.This paper discusses the current situation of thermal power enterprises’ investment in China,discusses the impact of "dual carbon"target on thermal power enterprises carbon emission reduction investment,reveals the problems and dilemmas faced by thermal power enterprises’ investment,and helps thermal power enterprises to improve their investment behavior;based on the analysis of experts in the industry and extensive literature research,identifies and classifies thermal power enterprises’ carbon emission reduction Based on the analysis of experts in the industry and extensive literature research,we identify and classify the types of risks and specific risk factors of thermal power companies’carbon emission reduction investment strategies,construct a risk index system to determine the index weights,which helps thermal power companies identify the sources of investment risks and determine the specific impacts of risk factors;we use the fuzzy real option method to introduce uncertainty in the analysis of thermal power companies’ carbon emission reduction investment strategies,which helps investors scientifically measure the value of project investment and provides ideas for improving their investment decisions and enhancing investment returns.At the same time,the scientific applicability of real options investment strategy model in carbon emission reduction projects of thermal power enterprises is verified,and the research results provide practical references for investors in risk management and investment strategies of carbon emission reduction projects of thermal power enterprises.