Explore the Impact Mechanism of Block Chain Technology on China's Carbon Market

Hanghang Dong (), Jun Yang (), Xiaoming Li () and Lan Xu ()
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Hanghang Dong: Chongqing University
Jun Yang: Chongqing University
Xiaoming Li: Shandong University
Lan Xu: Chongqing University

Computational Economics, 2024, vol. 64, issue 1, No 5, 105-135

Abstract: Abstract China's carbon market is an important way to achieve carbon peak by 2030 and carbon neutrality by 2060. Blockchain technology can solve the problems of low trading efficiency, poor liquidity and regional heterogeneity in China's current carbon market. this paper explores the scenario of applying blockchain technology to China's carbon market. Firstly, this paper considers the allocation of carbon quota in the carbon market based on blockchain technology under policy regulation. The study found that the development of carbon trading pilots was uneven, and some pilot carbon trading volumes were low, presenting a situation of "no market price". Secondly, it describes the enhancement effect of blockchain technology on the carbon market from the perspective of technology and multiple factors. Considering only the technical factors, the enhancement process is an "inverted L" shape, while considering the superposition factors, the enhancement effect is approximately an "S" shape. Finally, based on the social learning model of major technological changes, the paper describes the process of dynamic utilization of blockchain technology by carbon trading enterprises and simulates the evolution law. The government should introduce relevant policies to guide the implementation of blockchain technology in the carbon market to strengthen the vitality of the carbon market and meet the expectation of carbon emission reduction. This paper provides theoretical support for the integration of blockchain technology into China's carbon market.

Keywords: Block chain; Carbon market; Mechanism; Policy; Enterprise (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10614-023-10437-9

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