STUDY OF CHINESE CARBON EMISSION REDUCTION COMMITMENT AND TRADE MARKET DEVELOPMENT

Emission reduction and carbon trading are now hot topics after the carbon dioxide emission reduction commitment from Chinese government and the Copenhagen conference in 2009.This paper analyzed the emission reduction commitment,reviewed the history of emission trading and carbon trading,studied the obstacles of emission trading in China,and then looked into the Chinese carbon trading development.Our analysis shows that the carbon reduction goal set by Chinese government now is not only an environment issue,but also an economic issue at the same time.More specific emission reduction target will be established later.After comparing with the more developed carbon market in other developed countries,we found sophisticated subsidiary system such as monitoring system,law system,and professional experts training are in urgent need for establishing efficient and professional trade market,also striving for the pricing right.The national emission reduction market may have a hopeful development with the forthcoming industrial and regional reduction target establishment.