An empirical Analysis of Chinese Carbon Emissions Market Trading in the First Half of 2022

Research Article
Open access

An empirical Analysis of Chinese Carbon Emissions Market Trading in the First Half of 2022

Xiaoyu Zhu 1* , Xiang Li 2 , Xin Huang 3 , Zhaoyi Lin 4
  • 1 University College London    
  • 2 The University of Sheffield    
  • 3 Accounting, Beijing Institute of Technology    
  • 4 Alcanta international college    
  • *corresponding author xiaoyu.zhu.20@ucl.ac.uk
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/17/20231051
AEMPS Vol.17
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-77-5
ISBN (Online): 978-1-915371-78-2

Abstract

Carbon trading is increasingly being adopted as a policy tool to limit greenhouse gas emissions. This paper empirically explores the international and domestic carbon markets in the first half of 2022. International relations, climate, energy, and unexpected events can impact the Chinese carbon market. The study revealed that trading activity in the Chinese carbon market needs to be improved. Furthermore, the number of critical emitters in China's carbon market varies significantly by region.

Keywords:

CER, carbon markets, carbon emission, block trading

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References

[1]. Francois, M., & Hamaide, B. (2011) Certified emission reductions weights for improved CDM projects. Environmental Policy and Governance, 21(1), 31-41.

[2]. Wang, M CN. (2021) Min Wang: There is no need to limit energy demandbecause of the “two-carbon” target. http://www.china.com.cn/opinion/think/2021-11/02/content_77846305.htm.

[3]. Liu, J., & Yu, A CN. (2022) Carbon trading system construction: What can we learn from the EU? - Two-carbon time. https://www.2ctime.com/tanjiaoyi/19539.html.

[4]. Tan, Z CN. (2022) Carbon know Xia: What is China’s carbon market, one article lao understand - double carbon time. https://www.2ctime.com/shuangtankuaibao/12010.html.

[5]. Wang, K., Li, S., Lu, M., Wang, J., Wei, Y (2021) China Carbon Market Review and Outlook (2022), Forecast and Outlook Report CEEP-BIT-2022-006 (No. 62).

[6]. Gao, P.,L, F.,(2021) Analysis on the influencing factors of carbon emission trading price. Cooperative economy and science and technology., 20:78-80.

[7]. Zhang, Y & Zhou, X.(2022) Comparative analysis of influencing factors of carbon emission permit price in the context of carbon neutrality. Chinese market., 2022(15): 27-29.

[8]. Li, Y.(2020)An Empirical Study on Influencing Factors of Carbon Emissions Trading Pricing. Price Theory and Practice., 06:146-149.

[9]. Wang, Z & Hu,Y.(2018) Analysis of the factors influencing the price of carbon emissions trading in China. Industrial technology and economics., 37 (2): 128-136.

[10]. Bai, Q., Dong, J., Tian, Y. (2022) Study on the fluctuation characteristics and influencing factors of carbon emission trading price in China. Statistics and Decision, 38(05): 161-165.

[11]. Jin, Y & Deng ,M.(2021) Research Progress on the value assessment of carbon emission permits. China Asset Evaluation., 2021(05):48-54.

[12]. Jiang, S., Jiang, Y., Wei, J., Wang, Y..(2022) Multi-factor research on the price fluctuation of carbon emission rights from the perspective of finance: Taking Hubei Province as an example. Wuhan Finance., 2022(07): 12-19.

[13]. Jiang, Y., & Wu, Z. (2021) Regression analysis of Influencing factors of Chinese carbon emission trading price. Environment and Sustainable Development.,46(01):77-78.

[14]. The World Bank. (2022) Interpretation of World Bank 2022 Carbon Pricing Status and Trends Report (I) : Carbon tax (Z. Qi, Ed.). WeiYang; The World Bank. https://www.weiyangx.com/407527.html.

[15]. Shi, W. (Ed.). (2022) Simkus: The escalation in Ukraine could have a major impact on the European economy. Jrj.com.cn. https://m.jrj.com.cn/madapter/usstock/2022/01/27000734227679.shtml.

[16]. Meng, Y., Wang, L., Wei, Y., Shi, Z., & Luo, Z. (2022) Time-frequency dynamics, co-movement and causality among returns of global carbon emissions trading schemes (ETSs): A tale of four markets. Journal of Cleaner Production, 363, 132564.

[17]. Wu, W. (2010) The strategic conception of carbon emission allocation in the post-Kyoto era (2012-2020). Journal of Nanjing University of Technology, 2010.11(D416). https://doi.org/1671-7287(2010)02-0018-05.

[18]. Xu, J. (2016) CHINA’S CO2 CABON EMISSIONS STUDY ON THE AFFECTING FACTORS AND REDUCTION COUNTERMEASURES. Social Science Acedamic Press(China).

[19]. Chen, Z., & Lin, L. (2021) Review and prospect of the construction of global carbon market. Environment and Sustainable Development, 2021(3), 38, 44. https://doi.org/10.19758 /j.cnki.issn1673-288x.202103008.

[20]. Hong, R. (2021) Analysis on the characteristics of Korean carbon Market and its referential significance for China.tanjiaoyi.com; IIGF. http://www.tanjiaoyi.com/article-32968-1.html.

[21]. Liu, H., Liu, Z., & Feng, C. (2021) Overview of global carbon market development in 2020 and implications for China’s carbon market construction. Finance.sina.com.cn; International Institute of Green Finance, Central University of Finance and Economics. https://finance.sina.com.cn/esg/2021-09-08/doc-iktzscyx2976758.shtml.

[22]. Li, H., Zhou, F., & Shang, Y. (2021) Problems and countermeasures of green finance development in Shanghai from the perspective of carbon peaking and carbon neutrality. Shanghai Economy, 2021(6), 61, 75. https://doi.org/1000-4211(2021)06-0061-15.

[23]. Lai, X., & Du, B. (2022) National carbon emission trading market practice and challenges. Shanghai Environment and Energy Exchange, 2022.15(860), 21, 23. https://doi.org/10.14115/j.cnki.zgcz.2022.15.008.

[24]. Xu, P. (2022) How can the national carbon market get out of the doldrums? Www.hxny.com; Caijing11. https://www.hxny.com/nd-72196-0-17.html.

[25]. Xie, X., Ma, Z., & Xiao, Z. (2022) Development and optimization of carbon equity market. China Academic Journal Electronic Publishing House, 2022(08), 67, 68.

[26]. Wang, K., & Li, S. (2022) Review and Prospect of China’s Carbon Market (2022). Journal of Beijing Institute of Technology(Social Sciences Edition), 1, 15. https://doi.org/10.15918/j.jbitss1009-3370.2022.0271.

[27]. Zhang, S. (2019) Analysis of the impact of energy transition on geopolitics. China Academic Journal Electronic Publishing House, 2019(8), 26, 33.

[28]. Xinjianan. (2021) What Impacts Will the Russia-Ukraine Conflict Have on the Global Low-carbon Energy Transition Process? . Efchina.org. https://www.efchina.org/Blog-en/blog-20220526-en.

[29]. Qing, Y. (2022) The challenges facing the EU carbon market under the new Energy Supply “order.” News.bjx.com.cn. https://news.bjx.com.cn/html/20220615/1233288.shtml.

[30]. Sueyl. (2022) The Russia-Ukraine war changed the logic of the market! Energy prices are soaring and carbon markets are tumbling! News.bjx.com.cn. https://news.bjx.com.cn/html/20220309/1209054.shtml.

[31]. Zhao, T. (2022) How much of an energy crisis caused by high temperatures will affect global “carbon neutrality”?. China Academic Journal Electronic Publishing House, 36, 37.

[32]. Jjckb. (2022) High gas prices weigh on economic activity in Europe. Www.investgo.cn. https://www.investgo.cn/article/gb/fxbg/202208/620222.html.

[33]. Wu, W. (2022) Nord Stream Explosion: Will Europe’s Energy Crisis Worsen? China Academic Journal Electornic Publishing House, 66, 67.

Cite this article

Zhu,X.;Li,X.;Huang,X.;Lin,Z. (2023). An empirical Analysis of Chinese Carbon Emissions Market Trading in the First Half of 2022. Advances in Economics, Management and Political Sciences,17,14-24.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 2nd International Conference on Business and Policy Studies

ISBN：978-1-915371-77-5(Print) / 978-1-915371-78-2(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://2023.confbps.org/
Conference date: 26 February 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.17
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Francois, M., & Hamaide, B. (2011) Certified emission reductions weights for improved CDM projects. Environmental Policy and Governance, 21(1), 31-41.

[2]. Wang, M CN. (2021) Min Wang: There is no need to limit energy demandbecause of the “two-carbon” target. http://www.china.com.cn/opinion/think/2021-11/02/content_77846305.htm.

[3]. Liu, J., & Yu, A CN. (2022) Carbon trading system construction: What can we learn from the EU? - Two-carbon time. https://www.2ctime.com/tanjiaoyi/19539.html.

[4]. Tan, Z CN. (2022) Carbon know Xia: What is China’s carbon market, one article lao understand - double carbon time. https://www.2ctime.com/shuangtankuaibao/12010.html.

[5]. Wang, K., Li, S., Lu, M., Wang, J., Wei, Y (2021) China Carbon Market Review and Outlook (2022), Forecast and Outlook Report CEEP-BIT-2022-006 (No. 62).

[6]. Gao, P.,L, F.,(2021) Analysis on the influencing factors of carbon emission trading price. Cooperative economy and science and technology., 20:78-80.

[7]. Zhang, Y & Zhou, X.(2022) Comparative analysis of influencing factors of carbon emission permit price in the context of carbon neutrality. Chinese market., 2022(15): 27-29.

[8]. Li, Y.(2020)An Empirical Study on Influencing Factors of Carbon Emissions Trading Pricing. Price Theory and Practice., 06:146-149.

[9]. Wang, Z & Hu,Y.(2018) Analysis of the factors influencing the price of carbon emissions trading in China. Industrial technology and economics., 37 (2): 128-136.

[10]. Bai, Q., Dong, J., Tian, Y. (2022) Study on the fluctuation characteristics and influencing factors of carbon emission trading price in China. Statistics and Decision, 38(05): 161-165.

[11]. Jin, Y & Deng ,M.(2021) Research Progress on the value assessment of carbon emission permits. China Asset Evaluation., 2021(05):48-54.

[12]. Jiang, S., Jiang, Y., Wei, J., Wang, Y..(2022) Multi-factor research on the price fluctuation of carbon emission rights from the perspective of finance: Taking Hubei Province as an example. Wuhan Finance., 2022(07): 12-19.

[13]. Jiang, Y., & Wu, Z. (2021) Regression analysis of Influencing factors of Chinese carbon emission trading price. Environment and Sustainable Development.,46(01):77-78.

[14]. The World Bank. (2022) Interpretation of World Bank 2022 Carbon Pricing Status and Trends Report (I) : Carbon tax (Z. Qi, Ed.). WeiYang; The World Bank. https://www.weiyangx.com/407527.html.

[15]. Shi, W. (Ed.). (2022) Simkus: The escalation in Ukraine could have a major impact on the European economy. Jrj.com.cn. https://m.jrj.com.cn/madapter/usstock/2022/01/27000734227679.shtml.

[16]. Meng, Y., Wang, L., Wei, Y., Shi, Z., & Luo, Z. (2022) Time-frequency dynamics, co-movement and causality among returns of global carbon emissions trading schemes (ETSs): A tale of four markets. Journal of Cleaner Production, 363, 132564.

[17]. Wu, W. (2010) The strategic conception of carbon emission allocation in the post-Kyoto era (2012-2020). Journal of Nanjing University of Technology, 2010.11(D416). https://doi.org/1671-7287(2010)02-0018-05.

[18]. Xu, J. (2016) CHINA’S CO2 CABON EMISSIONS STUDY ON THE AFFECTING FACTORS AND REDUCTION COUNTERMEASURES. Social Science Acedamic Press(China).

[19]. Chen, Z., & Lin, L. (2021) Review and prospect of the construction of global carbon market. Environment and Sustainable Development, 2021(3), 38, 44. https://doi.org/10.19758 /j.cnki.issn1673-288x.202103008.

[20]. Hong, R. (2021) Analysis on the characteristics of Korean carbon Market and its referential significance for China.tanjiaoyi.com; IIGF. http://www.tanjiaoyi.com/article-32968-1.html.

[21]. Liu, H., Liu, Z., & Feng, C. (2021) Overview of global carbon market development in 2020 and implications for China’s carbon market construction. Finance.sina.com.cn; International Institute of Green Finance, Central University of Finance and Economics. https://finance.sina.com.cn/esg/2021-09-08/doc-iktzscyx2976758.shtml.

[22]. Li, H., Zhou, F., & Shang, Y. (2021) Problems and countermeasures of green finance development in Shanghai from the perspective of carbon peaking and carbon neutrality. Shanghai Economy, 2021(6), 61, 75. https://doi.org/1000-4211(2021)06-0061-15.

[23]. Lai, X., & Du, B. (2022) National carbon emission trading market practice and challenges. Shanghai Environment and Energy Exchange, 2022.15(860), 21, 23. https://doi.org/10.14115/j.cnki.zgcz.2022.15.008.

[24]. Xu, P. (2022) How can the national carbon market get out of the doldrums? Www.hxny.com; Caijing11. https://www.hxny.com/nd-72196-0-17.html.

[25]. Xie, X., Ma, Z., & Xiao, Z. (2022) Development and optimization of carbon equity market. China Academic Journal Electronic Publishing House, 2022(08), 67, 68.

[26]. Wang, K., & Li, S. (2022) Review and Prospect of China’s Carbon Market (2022). Journal of Beijing Institute of Technology(Social Sciences Edition), 1, 15. https://doi.org/10.15918/j.jbitss1009-3370.2022.0271.

[27]. Zhang, S. (2019) Analysis of the impact of energy transition on geopolitics. China Academic Journal Electronic Publishing House, 2019(8), 26, 33.

[28]. Xinjianan. (2021) What Impacts Will the Russia-Ukraine Conflict Have on the Global Low-carbon Energy Transition Process? . Efchina.org. https://www.efchina.org/Blog-en/blog-20220526-en.

[29]. Qing, Y. (2022) The challenges facing the EU carbon market under the new Energy Supply “order.” News.bjx.com.cn. https://news.bjx.com.cn/html/20220615/1233288.shtml.

[30]. Sueyl. (2022) The Russia-Ukraine war changed the logic of the market! Energy prices are soaring and carbon markets are tumbling! News.bjx.com.cn. https://news.bjx.com.cn/html/20220309/1209054.shtml.

[31]. Zhao, T. (2022) How much of an energy crisis caused by high temperatures will affect global “carbon neutrality”?. China Academic Journal Electronic Publishing House, 36, 37.

[32]. Jjckb. (2022) High gas prices weigh on economic activity in Europe. Www.investgo.cn. https://www.investgo.cn/article/gb/fxbg/202208/620222.html.

[33]. Wu, W. (2022) Nord Stream Explosion: Will Europe’s Energy Crisis Worsen? China Academic Journal Electornic Publishing House, 66, 67.

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