Research On The Value Assessment Of Corporate Carbon Emission Rights Based On The Market Method

As global greenhouse gas pollution becomes more and more serious,reducing carbon emissions has become a global consensus.The establishment of carbon emission trading mechanism is crucial to reduce carbon emissions and promote the sustainable development of global economy.Along with the gradual activation of carbon trading market,the accurate valuation of carbon emission rights has become an important issue to be solved.To this end,this thesis conducts a systematic study on the valuation of carbon emission rights based on the perspective of market approach.Firstly,on the basis of sorting out relevant research results at home and abroad,the connotation of carbon emission rights value is defined and the theoretical basis of the whole paper is elaborated;secondly,on the basis of in-depth analysis of the factors influencing carbon emission rights value,the applicability of the market approach to carbon emission rights value assessment is discussed;then,based on the basic theory of the market approach,scientific and reasonable methods such as co-integration test,principal component analysis and cluster analysis are used to evaluate the value of carbon emission rights.Then,based on the basic theory of the market approach,the modified market approach model is constructed by applying scientific and reasonable methods such as covariance test,principal component analysis and cluster analysis to modify the transaction time,industry factors and regional factors,which makes it effectively applicable to the valuation of carbon emission rights;next,the modified market approach model is applied to the valuation of carbon emission rights assets of Company A in the power industry through case studies,and three comparable transaction cases are selected to evaluate the value of its carbon rights assets by applying the modified market approach model constructed in this thesis to verify the validity of the model.Finally,specific suggestions for the application of the market approach model are put forward in terms of accelerating the construction of the carbon emission trading market,improving the carbon emission trading system,and perfecting the relevant asset valuation system.