Research On The Application Of Modified B-S Model In Carbon Emission Allowance Value Assessment

In the process of modernization,due to the excessive use of coal,oil and other energy sources,a large number of greenhouse gases are released,and the degree of global warming is increasing.For ecological safety reasons,the Kyoto Protocol defines the trading of CO2 emission rights as a commodity that can be traded,that is,"carbon trading".Protecting the ecological environment means protecting productive forces,and improving the environment means developing productive forces.China’s emission reduction commitments help reshape the energy mix and are important for sustainable development and long-term prosperity.Under the carbon trading system,the government sets the emission level,and the market determines the carbon price,so the carbon price is uncertain.A proper carbon price assessment can help shift losses from greenhouse gas emissions to those responsible for pollution and reduce the occurrence of carbon leakage,carbon tariffs and other issues.At present,China lacks a mature and active carbon trading market,insufficient disclosure of carbon asset accounting information and other practical problems,and the use of traditional valuation methods to assess the value of China’s carbon emission rights cannot reflect its true value.Therefore,it is necessary to establish a comprehensive and systematic carbon emission allowance value evaluation system.Firstly,the background,significance,research status,etc.are expounded,and the structure of the article is preliminarily sorted out.Then,the literature related to carbon emission allowances is reviewed to lay a theoretical foundation,and on the basis of the analysis of traditional assessment methods,the appropriate assessment methods are selected by fully considering the characteristics of carbon emission allowances,and a preliminary assessment model of carbon emission allowances based on CCER projects is constructed.Based on the impact of various uncertainties on their carbon emission allowances during the compliance period of the agreement,the correlation degree and grey cluster evaluation matrix of the uncertainty factor indicators are calculated by using the gray system theory,and the comprehensive impact coefficient is obtained,and then the comprehensive evaluation model of carbon emission allowances is obtained.Finally,the case is substituted into the comprehensive evaluation model calculation.Finally,the article summarizes the main conclusions:first,the carbon emission allowance asset has the nature of real option;Secondly,the introduction of uncertainties can better describe the fluctuation of carbon emission allowance prices and make their assessment results more reasonable.By constructing a comprehensive evaluation model to evaluate the value of carbon emission rights,the influencing factors of value that were previously ignored can be quantitatively calculated,so as to revise the assessment value and provide a new perspective for the evaluation of carbon emission rights.In addition,it can also increase the society’s attention to CCER projects,strengthen the construction of carbon sink projects,and create a good ecological environment for sustainable development.