Research On The Design Of Carbon Rights Market Trading Mechanism And Interregional Effects

The carbon emission trading mechanism is an important link in the path of achieving the "dual carbon" goal.The traditional carbon quota allocation strategy,carbon price oriented market incentive mechanism,and carbon tax policy have endowed enterprises with factor endowment rights,stimulated technological innovation vitality,and caused corresponding cost pressure.Since the pilot of carbon emissions trading,due to policy constraints such as carbon quotas,carbon taxes,and subsidies,the carbon emissions trading mechanism has not achieved the expected results.Further research is needed to explore the impact of each entity’s introduction on carbon emissions trading.The principle of balancing efficiency and fairness is a prerequisite for the smooth development of the carbon rights trading market.Introducing government policies that consider fairness into a market mechanism that considers efficiency can coordinate resource allocation among enterprises,guide the overall improvement of social carbon emission reduction benefits,and have important theoretical and practical significance for achieving the dual carbon goals.This article starts from the carbon emission trading market,organizes domestic policies related to carbon emission reduction and market mechanisms,analyzes and summarizes the development of China’s carbon rights market,studies the game relationships between various entities,designs relevant mechanisms for carbon emission trading,and explores the spillover effects of regional carbon trading.Firstly,a two-stage dynamic game is designed for carbon reduction decisions of carbon trading enterprises under dynamic allocation of quotas.Carbon reduction costs and carbon quota factors are introduced to discuss the changes in carbon emissions of enterprises under the influence of quota mechanisms.The study found that the carbon quota allocated to low-cost enterprises with strong carbon reduction capabilities should be gradually reduced,and it was found that although reducing the carbon quota allocated to high-cost enterprises is beneficial for improving environmental benefits,However,when considering economic and environmental benefits comprehensively,it is still necessary to consider the development stage of the carbon rights market,first giving relatively loose carbon quota constraints to high-cost enterprises,giving them carbon quotas close to their historical carbon emissions,and then giving them stricter carbon quota constraints.Secondly,we designed a carbon rights trading mechanism that considers carbon taxes and subsidies under the constraints of carbon quotas.The study found that carbon tax policies will inhibit the achievement of market optimal and balanced carbon prices,and subsidy policies will promote the formation of market optimal and balanced carbon prices.From the perspective of carbon trading market benefits,the effects of carbon taxes and subsidy policies have two sides.We should consider designing carbon taxes and subsidy policies before the achievement of market equilibrium to improve the regulatory effect of carbon trading policies.To screen for incomplete information through mechanisms,it is necessary to pay attention to ensuring that the carbon tax and subsidy values designed for the two types are not equal,and to ensure the existence of information costs;All two models demonstrate that improving the efficiency of the carbon trading market requires lowering carbon quotas.Finally,a general equilibrium theory model of emission quotas considering the spillover effect of interregional carbon trading was constructed,and the impact of carbon quota policies was introduced.The study found that interregional spillover effects existed for a long time,and the impact of carbon quotas on non pilot areas would affect their economic benefits,but the spillover benefits from pilot areas could make up for some losses.This article focuses on the newly designed carbon emission trading market under the dual carbon target,considering the behavior of entities within the market,exploring the impact of carbon taxes and subsidies on market transactions,and exploring the inter regional spillover effects of carbon trading.The research findings may provide some help for the government to understand the carbon reduction decisions of carbon trading enterprises in the carbon rights market,and provide some suggestions for designing a more comprehensive carbon trading mechanism in the carbon rights market,Provide certain support for exploring the effects of inter regional carbon trading in the national carbon rights market.