International Experience, China's Development and Prospect of Carbon Market Construction

Huiqing Wang
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Huiqing Wang: Research Institute of Bank of China, Beijing 100818, China

Frontiers of Economics in China-Selected Publications from Chinese Universities, 2022, vol. 17, issue 2, 345-367

Abstract: Carbon market, which is capable of scientific quantifying and marked-based pricing of carbon emission, is an important way for countries to achieve the target of carbon emission reduction. The global carbon market, after more than ten years of development, has developed a mature mechanism. China started the trial of carbon market in 2011. After ten years of exploration, the national carbon trading market was officially launched in mid-July 2021. Against the backdrop of carbon neutrality, the national carbon market will shoulder a greater mission of carbon emission reduction and speed up its financialization and internationalization. However, it should take a dialectical attitude toward the opportunities and risks of carbon market financialization. In the future, China can promote the development of carbon market through efforts to develop market participants, clarify the attributes of carbon finance, prevent potential risks of carbon finance, improve the connection mechanism with the international carbon market, and innovate carbon finance services.

Keywords: carbon market; international experience; carbon trading; risk of carbon finance (search for similar items in EconPapers)
Date: 2022
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