Since June of this year, Shenzhen, Shanghai, Beijing and other places have started carbon emission trading, and the carbon trading market in Tianjin and Guangdong will also be launched before the end of this year.
Through the “market map†of carbon trading, we can see that carbon trading not only contains huge market potential, but also can form a mechanism for promoting energy saving and emission reduction in the whole society. But at the same time, we must also see that as China's carbon trading is still in its infancy and initial stage, there are still many problems that need to be explored and need to be supported from the institutional level.
How big is the market space for carbon trading?
It is predicted that by 2014, China's regional carbon market will cover 700 million tons of carbon emissions. When China establishes a national carbon market during the 13th Five-Year Plan period, it will become the world's largest carbon trading system.
In June this year, Shenzhen launched a carbon emission trading platform, becoming the first city in China to officially launch a carbon emissions trading pilot.
After the launch of the Shenzhen carbon trading market, quotas for 635 industrial enterprises and 197 large public buildings entered the carbon emissions trading system. On the first day of operation, the market completed 8 transactions, with a total turnover of over 20,000 tons and a total turnover of 610,000 yuan. At present, the price per ton of carbon in Shenzhen has soared from the initial price of 28 yuan / ton to 80 yuan / ton today, the cumulative transaction volume has exceeded 120,000 tons, and the transaction amount exceeds 8 million yuan.
The smooth start of the carbon trading market in Shenzhen and the huge market space behind it, to some extent, indicate that China's carbon trading market has a broad space. Before the Beijing-Shanghai carbon trading market has been opened, many investors have predicted that the Beijing-Shanghai carbon market will stage a more popular market than the Shenzhen carbon market.
Through the “market map†of these pilot provinces and cities, the huge market space for the carbon trading pilot has gradually surfaced. According to estimates, the global carbon trading market has reached 50 billion euros per year in the past four years. By 2020, the global carbon trading volume is expected to reach 3.5 trillion US dollars, and will surpass the oil market and become the world's largest trading market.
Although China's carbon trading started relatively late, the "Chinese team" is running. Experts pointed out that China is facing tremendous pressure on energy conservation and emission reduction, and carbon trading can provide a low-cost, high-efficiency market-oriented mechanism for completing emission reduction tasks. Therefore, China's carbon trading market prospects are worth looking forward to.
Relevant agencies predict that by 2014, China's regional carbon market will cover 700 million tons of carbon emissions, while Australia, California, and Europe's carbon market will cover 382 million tons, 165 million tons and 2.1 billion tons of carbon emissions. When China established the national carbon market during the 13th Five-Year Plan period, it would become the world's largest carbon trading system.
How carbon trading promotes energy conservation and emission reduction
Carbon trading can form a mechanism for energy saving and emission reduction in the whole society. Based on the initial emission reduction responsibility, enterprises with super-discharge will bear huge pollution costs, and enterprises that reduce emissions can harvest “real gold and silverâ€.
Recently, Du Shaozhong, chairman of the Beijing Municipal Environmental Exchange, told the media that if the carbon trading market is successful, it cannot simply look at the volume and activity, but whether the carbon trading can form a mechanism for energy conservation and emission reduction in the whole society.
Du Shaozhong’s statement. It is generally believed that carbon emission trading is an important economic lever to promote greenhouse gas emission reduction, combat climate change, and improve resource utilization efficiency. In practice, how does this role work?
According to reports, in the carbon emission trading system, the initial emission reduction responsibility can be allocated to enterprises with high energy consumption, high pollution and high emissions. The excess emission enterprises need to use the trading platform of the exchange to purchase carbon emission rights; Carbon dioxide emissions can be reduced through various means, and surplus carbon emission rights quotas are sold through the Exchange.
This kind of market trading behavior with carbon emission rights as the target can bring two benefits. On the one hand, in the past, enterprises reduced their carbon emissions, but only fulfilled their social responsibilities. The effect is hard to directly reflect the benefits of “real money and silverâ€. With this platform, surplus emission quotas can be traded. The more the balance, the greater the benefit of the company, and it can directly suppress production costs. On the other hand, for some of the excess emissions companies, the economic losses caused by excess emissions in the past are not obvious. With the trading platform, excess emissions will bring greater production costs to enterprises. This method of linking costs will directly promote enterprises to increase investment in emission reduction, and accelerate the transformation and upgrading of industrial structure and the transformation of development mode through technological innovation.
Chen Haiou, president of the Shenzhen Emissions Exchange, said that since the launch of the carbon market, companies' attitudes toward carbon emissions have changed significantly. In the past, the goal of energy conservation and emission reduction was to transfer from the central to the local level. Now, enterprises have realized that carbon emission management can be linked to profit, cash flow, and corporate investment, and emission reduction becomes a spontaneous and conscious behavior of enterprises. .
In addition, the reporter also learned that some provinces and cities in the carbon trading pilot not only explore the use of market mechanisms to promote emissions reduction, but also focus on guiding individuals to participate. For example, Shenzhen has initiated individual participation in carbon emissions trading, and individual citizens can also purchase corporate quotas. This initiative to stimulate public enthusiasm is also conducive to making energy conservation and emission reduction better public awareness.
Carbon trading needs to increase system construction
China's carbon trading pilot has just started, and it still faces a series of problems such as inaccurate statistical data, imperfect price mechanism and inadequate financing mechanism. It needs to be gradually solved through system construction.
Undoubtedly, there is huge room for development in China's carbon trading market. However, it is not difficult to fully release the potential of this market space.
An overseas research report pointed out that although China has launched a pilot project on carbon emissions trading, the actual launch of a carbon trading operation plan may be around 2020.
From the perspective of development, China's carbon trading industry faces many obstacles. For example, how to ensure accurate and effective data on carbon emissions, how to ensure a relatively stable and reasonable price mechanism in the carbon trading market, how to provide the necessary financing mechanism for carbon trading, and so on.
The reporter learned that with the continuous advancement of the carbon trading pilot, these issues have attracted the attention of relevant parties. Not long ago, in response to the lack of effective supervision of current carbon emissions data, Sun Wei, deputy director of the Climate Change Department of the National Development and Reform Commission, said that the main task of climate change legislation is to establish a set of greenhouse gas emission management systems, including total control. Emissions permits, emissions trading and data management.
While strengthening legislation, it is necessary to further supervise. For market entities that falsify and defraud emission allowances, they must not only recover their emission quotas according to law, but also include them in the blacklist of carbon trading market access.
In terms of price formation mechanism, how to avoid capital speculation to participate in it, resulting in excessive price fluctuations, leading to increased business risks, has also become a problem that the carbon trading market needs to face. It is understood that Beijing has already begun to establish a price warning mechanism. When the trading price of emission allowances fluctuates abnormally, the government will stabilize the carbon trading price through auction or repurchase quotas.
In addition, some experts suggest that in the development of carbon trading, we should also actively explore, introduce financial institutions to participate, increase financing channels for carbon trading, and allow traders to conduct futures trading, providing a necessary platform for the development of carbon finance.
“The establishment of a carbon emission rights market is an effective means of transferring and adjusting the structure. Next, China will establish and promote a carbon emission market from the institutional level.†Jiang Zhaoli, director of the Domestic Policy and Implementation Division of the Climate Policy Division of the National Development and Reform Commission, told the media. Under the guidance of the basic thesis of “making the market play a decisive role in resource allocation and better playing the role of the governmentâ€, according to the development of natural capital capitalization, the pace of China’s carbon emission marketization system will be accelerated, and energy conservation and emission reduction work will be accelerated. More institutional barriers will be overcome to achieve more results.
Through the “market map†of carbon trading, we can see that carbon trading not only contains huge market potential, but also can form a mechanism for promoting energy saving and emission reduction in the whole society. But at the same time, we must also see that as China's carbon trading is still in its infancy and initial stage, there are still many problems that need to be explored and need to be supported from the institutional level.
How big is the market space for carbon trading? It is predicted that by 2014, China's regional carbon market will cover 700 million tons of carbon emissions. When China establishes a national carbon market during the 13th Five-Year Plan period, it will become the world's largest carbon trading system.
In June this year, Shenzhen launched a carbon emission trading platform, becoming the first city in China to officially launch a carbon emissions trading pilot.
After the launch of the Shenzhen carbon trading market, quotas for 635 industrial enterprises and 197 large public buildings entered the carbon emissions trading system. On the first day of operation, the market completed 8 transactions, with a total turnover of over 20,000 tons and a total turnover of 610,000 yuan. At present, the price per ton of carbon in Shenzhen has soared from the initial price of 28 yuan / ton to 80 yuan / ton today, the cumulative transaction volume has exceeded 120,000 tons, and the transaction amount exceeds 8 million yuan.
The smooth start of the carbon trading market in Shenzhen and the huge market space behind it, to some extent, indicate that China's carbon trading market has a broad space. Before the Beijing-Shanghai carbon trading market has been opened, many investors have predicted that the Beijing-Shanghai carbon market will stage a more popular market than the Shenzhen carbon market.
Through the “market map†of these pilot provinces and cities, the huge market space for the carbon trading pilot has gradually surfaced. According to estimates, the global carbon trading market has reached 50 billion euros per year in the past four years. By 2020, the global carbon trading volume is expected to reach 3.5 trillion US dollars, and will surpass the oil market and become the world's largest trading market.
Although China's carbon trading started relatively late, the "Chinese team" is running. Experts pointed out that China is facing tremendous pressure on energy conservation and emission reduction, and carbon trading can provide a low-cost, high-efficiency market-oriented mechanism for completing emission reduction tasks. Therefore, China's carbon trading market prospects are worth looking forward to.
Relevant agencies predict that by 2014, China's regional carbon market will cover 700 million tons of carbon emissions, while Australia, California, and Europe's carbon market will cover 382 million tons, 165 million tons and 2.1 billion tons of carbon emissions. When China established the national carbon market during the 13th Five-Year Plan period, it would become the world's largest carbon trading system.
How carbon trading promotes energy conservation and emission reduction
Carbon trading can form a mechanism for energy saving and emission reduction in the whole society. Based on the initial emission reduction responsibility, enterprises with super-discharge will bear huge pollution costs, and enterprises that reduce emissions can harvest “real gold and silverâ€.
Recently, Du Shaozhong, chairman of the Beijing Municipal Environmental Exchange, told the media that if the carbon trading market is successful, it cannot simply look at the volume and activity, but whether the carbon trading can form a mechanism for energy conservation and emission reduction in the whole society.
Du Shaozhong’s statement. It is generally believed that carbon emission trading is an important economic lever to promote greenhouse gas emission reduction, combat climate change, and improve resource utilization efficiency. In practice, how does this role work?
According to reports, in the carbon emission trading system, the initial emission reduction responsibility can be allocated to enterprises with high energy consumption, high pollution and high emissions. The excess emission enterprises need to use the trading platform of the exchange to purchase carbon emission rights; Carbon dioxide emissions can be reduced through various means, and surplus carbon emission rights quotas are sold through the Exchange.
This kind of market trading behavior with carbon emission rights as the target can bring two benefits. On the one hand, in the past, enterprises reduced their carbon emissions, but only fulfilled their social responsibilities. The effect is hard to directly reflect the benefits of “real money and silverâ€. With this platform, surplus emission quotas can be traded. The more the balance, the greater the benefit of the company, and it can directly suppress production costs. On the other hand, for some of the excess emissions companies, the economic losses caused by excess emissions in the past are not obvious. With the trading platform, excess emissions will bring greater production costs to enterprises. This method of linking costs will directly promote enterprises to increase investment in emission reduction, and accelerate the transformation and upgrading of industrial structure and the transformation of development mode through technological innovation.
Chen Haiou, president of the Shenzhen Emissions Exchange, said that since the launch of the carbon market, companies' attitudes toward carbon emissions have changed significantly. In the past, the goal of energy conservation and emission reduction was to transfer from the central to the local level. Now, enterprises have realized that carbon emission management can be linked to profit, cash flow, and corporate investment, and emission reduction becomes a spontaneous and conscious behavior of enterprises. .
In addition, the reporter also learned that some provinces and cities in the carbon trading pilot not only explore the use of market mechanisms to promote emissions reduction, but also focus on guiding individuals to participate. For example, Shenzhen has initiated individual participation in carbon emissions trading, and individual citizens can also purchase corporate quotas. This initiative to stimulate public enthusiasm is also conducive to making energy conservation and emission reduction better public awareness.
Carbon trading needs to increase system construction
China's carbon trading pilot has just started, and it still faces a series of problems such as inaccurate statistical data, imperfect price mechanism and inadequate financing mechanism. It needs to be gradually solved through system construction.
Undoubtedly, there is huge room for development in China's carbon trading market. However, it is not difficult to fully release the potential of this market space.
An overseas research report pointed out that although China has launched a pilot project on carbon emissions trading, the actual launch of a carbon trading operation plan may be around 2020.
From the perspective of development, China's carbon trading industry faces many obstacles. For example, how to ensure accurate and effective data on carbon emissions, how to ensure a relatively stable and reasonable price mechanism in the carbon trading market, how to provide the necessary financing mechanism for carbon trading, and so on.
The reporter learned that with the continuous advancement of the carbon trading pilot, these issues have attracted the attention of relevant parties. Not long ago, in response to the lack of effective supervision of current carbon emissions data, Sun Wei, deputy director of the Climate Change Department of the National Development and Reform Commission, said that the main task of climate change legislation is to establish a set of greenhouse gas emission management systems, including total control. Emissions permits, emissions trading and data management.
While strengthening legislation, it is necessary to further supervise. For market entities that falsify and defraud emission allowances, they must not only recover their emission quotas according to law, but also include them in the blacklist of carbon trading market access.
In terms of price formation mechanism, how to avoid capital speculation to participate in it, resulting in excessive price fluctuations, leading to increased business risks, has also become a problem that the carbon trading market needs to face. It is understood that Beijing has already begun to establish a price warning mechanism. When the trading price of emission allowances fluctuates abnormally, the government will stabilize the carbon trading price through auction or repurchase quotas.
In addition, some experts suggest that in the development of carbon trading, we should also actively explore, introduce financial institutions to participate, increase financing channels for carbon trading, and allow traders to conduct futures trading, providing a necessary platform for the development of carbon finance.
“The establishment of a carbon emission rights market is an effective means of transferring and adjusting the structure. Next, China will establish and promote a carbon emission market from the institutional level.†Jiang Zhaoli, director of the Domestic Policy and Implementation Division of the Climate Policy Division of the National Development and Reform Commission, told the media. Under the guidance of the basic thesis of “making the market play a decisive role in resource allocation and better playing the role of the governmentâ€, according to the development of natural capital capitalization, the pace of China’s carbon emission marketization system will be accelerated, and energy conservation and emission reduction work will be accelerated. More institutional barriers will be overcome to achieve more results.
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