国内外碳金融市场发展的比较及对中国的启示

发布时间：2018-07-27 15:14

【摘要】：随着环境与能源问题的日益突出，世界各国在减少温室气体排放领域展开了广泛的合作，近年来，碳金融作为一种运用经济手段缓解环境问题的方法蓬勃发展起来。欧盟排放交易体系(EUETS)、欧洲气候交易所(ECX)、美国芝加哥气候交易所(CCX)等碳排放权交易体系与交易市场逐渐成熟，在国际碳金融体系中抢占了先机。目前我国已成为全球温室气体排放量最大的国家，是碳信用最大的供应国，通过清洁发展机制，我国碳交易及其衍生品市场的发展前景非常广阔，但我国的碳金融市场仍处于起步阶段。有鉴于此，本文一方面阐述了碳金融的经济学基础——科斯定理，对碳排放权初始分配的类型、优劣进行了分析，，并把Black-Scholes期权定价模型应用到碳排放权的定价中；另一方面对国内外碳金融市场的法律环境、交易状况、碳金融交易市场、金融机构的碳金融业务、碳基金5个方面进行比较，并在这基础上总结当前国际碳金融市场存在的问题与我国碳金融发展的瓶颈，从而提出解决的对策及我国发展碳金融体系“三步走”的布局建议。
[Abstract]:With the increasingly prominent problem of environment and energy, countries all over the world have carried out extensive cooperation in the field of reducing greenhouse gas emissions. In recent years, carbon finance, as a method of using economic means to alleviate environmental problems, has flourished. European emissions trading system (EUETS), European Climate Exchange (ECX), Chicago Climate Exchange (CCX) and other carbon emission trading systems and trading markets have gradually matured, taking the lead in the international carbon finance system. At present, China has become the largest greenhouse gas emission country in the world and the largest supplier of carbon credit. Through the clean development mechanism, the development prospects of China's carbon trading and derivatives markets are very broad. However, China's carbon financial market is still in its infancy. In view of this, on the one hand, this paper expounds the economic foundation of carbon finance-Coase Theorem, analyzes the types of initial allocation of carbon emission rights, and applies the Black-Scholes option pricing model to the pricing of carbon emission rights. On the other hand, it compares the legal environment, trading situation, carbon finance trading market, carbon finance business of financial institutions and carbon fund of domestic and foreign carbon finance market. On this basis, the problems existing in the current international carbon finance market and the bottleneck of the development of carbon finance in China are summarized, and the countermeasures and the layout suggestions of "three steps" for the development of the carbon finance system in China are put forward.
【学位授予单位】：暨南大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.5;F205

【参考文献】