On The Perfection Of The Initial Allocation System Of Carbon Emission Allowances In China

Carbon emissions trading system is one of the core policy tools to achieve the goal of carbon peaking and carbon neutrality.Through market-based instruments,enterprises are incentivized to reduce carbon emissions,thereby achieving energy conservation and emission reduction targets.The carbon emissions trading system is constructed by two levels of market,with trading belonging to the secondary market and initial allocation of allowances belonging to the primary market.A reasonable initial allocation system of allowances is the key to the smooth operation of the carbon emission trading market.At present,the focus of domestic attention is on trading in the secondary market,while the primary market is faced with the difficulties of missing laws on initial allocation of carbon emission allowances,unclear nature of carbon emission rights,loose setting of total amount,unfair rules on initial allocation,and the system of third-party verification agencies to be improved.China should speed up the legislation of initial allocation of carbon emission allowances and improve the system of initial allocation of carbon emission allowances.Clarify the nature of carbon emission rights as administrative licensing rights to ensure the legality and validity of carbon emission rights.Take the opportunity to shrink the total amount of carbon by carbon peaking and carbon neutralization,and achieve precise total control and regulation through reasonable mechanisms and methods.Unify allocation rules to ensure fair,just and transparent initial allocation of carbon emission allowances.Strengthen the supervision and management of third-party verification agencies to ensure the independence and authority of verification agencies and maintain the integrity and credibility of the carbon trading market.