Construction And Analysis Of Comprehensive Evaluation Index System Of China’s Carbon Emission Trading Market

Human activities have caused unprecedented changes in the climate system.In the21 st century,extreme weather is more frequent due to the intensification of greenhouse gas emissions.In the face of increasingly serious environmental problems,many countries have set the process of reaching the carbon peak and achieving carbon neutrality.China announced measures at the seventy-fifth session of the United Nations General Assembly in 2020 to achieve the peak of carbon dioxide emissions by 2030 and carbon neutrality by2060.Under the guidance of carbon peak and carbon neutral goals,countries are more actively exploring and applying low-carbon policy tools.Among them,the carbon emission trading market can effectively deal with climate change by controlling emissions reduction through carbon pricing,which has attracted the attention of many countries and regions,including China.Since 2013,China has established eight pilot carbon markets in Shenzhen,Beijing,Shanghai,Guangdong,Tianjin,Hubei,Chongqing and Fujian.The national carbon emission trading market also officially opened for trading in July 2021.The report of the 20 th National Congress of the Communist Party of China proposed that we should "actively and steadily promote carbon peak and carbon neutralization",implement the "1+N" policy system of carbon peak and carbon neutralization,and take the carbon emission trading market as an important starting point for China’s ecological civilization construction.In order to comprehensively and objectively evaluate the development status of China’s carbon emissions trading pilot market and the national carbon emissions trading market,explore the problems exposed in the operation of the carbon market and the successful experience accumulated,it is necessary to conduct a scientific and comprehensive evaluation of the development status of the carbon market.After sorting out the existing research,this paper found that there are few evaluations on China’s carbon market,the evaluation system is not comprehensive enough,and the applicability to China’s market is not strong.In order to solve the above problems,after combining the existing research and combing the development characteristics of China’s carbon market,this paper adopts a comprehensive evaluation method to build a comprehensive evaluation index system that conforms to the carbon market with Chinese characteristics in terms of environmental benefits,market and financial efficiency and market mechanism construction,On this basis,the Entropy-based TOPSIS evaluation method is selected to conduct comprehensive evaluation and comparative analysis on the eight carbon trading pilots in China and the national carbon emission trading market,and the comprehensive evaluation scores of each market are obtained from the annual and monthly evaluation directions.The comprehensive evaluation results show that:(1)The comprehensive development level of the carbon pilot market is quite different,and the development level of some markets is relatively low.The carbon pilot markets in Guangdong and Hubei are the best developed,with relatively complete market mechanisms,relatively high environmental benefits and market financial efficiency.However,most of the other pilot markets have problems such as the market is not active enough,the liquidity is not strong,the market mechanism construction is slow,and the market supervision ability is poor.The carbon price cannot better reflect the emission reduction costs of enterprises.(2)Although the national carbon emission trading market has achieved certain results,and its comprehensive evaluation score is higher than that of most pilot markets due to the scale and other factors,the development of the national market is restricted by the problems existing in the early stage of construction,such as less trading subjects and trading products,serious performance guidance,pricing mechanism,trading structure and other aspects,and the relevant experience of the pilot market needs to be learned.(3)The comprehensive evaluation results revealed that the performance enterprises,as the main body of market transactions,have insufficient knowledge of the carbon market and carbon asset management capacity.This paper focuses on sorting out and exploring the common problems existing in the two markets,and analyzes the reference role of the carbon pilot market for the national carbon market.In the future,the construction of China’s carbon market should start with improving the construction of the national carbon market system,continuing to play the role of the "experimental field" of the carbon pilot market,improving the level of coordinated development of the national carbon market and the carbon pilot market,improving the level of information disclosure,and promoting the construction of the enterprise carbon accounting system,so as to further improve the market activity and the effectiveness of carbon prices,and then guide the market coverage entities to achieve low-carbon development.Performing enterprises should also improve their carbon asset management awareness,improve their carbon asset management system,effectively promote carbon trading practice,and achieve economic benefits while achieving environmental benefits.