Author(s)

Chen Jian, Liu Chenglin and Lin Jingchuan

Corresponding Author

Chen Jian

ABSTRACT

Global warming continues to be a serious problem around the world. Under the United Nations framework convention on climate change (UNFCCC) and the Kyoto protocol, governments have adopted nationally appropriate measures to reduce CO2 and other greenhouse gas emissions. In December 2017, China formally launched the national carbon emission trading system under the national carbon emission trading market construction plan (power generation industry) after the pilot implementation of the carbon trading right market in seven provinces, cities and regions. This paper summarizes the empirical measures and development status of domestic and foreign carbon emission trading right market, lists the development status of Guangzhou carbon emission right exchange in Guangdong province, as well as the shortcomings in carbon accounting, carbon emission data report, carbon quota and other issues, and gives suggestions in four aspects: upper design, establishment and perfection of carbon market infrastructure, capacity cultivation and innovation of carbon financial tools, with a view to the long-term development of low-carbon economy in Guangdong province and contributing valuable experience to the construction of national carbon market.

KEYWORDS

Carbon Emission Trading System, Carbon Finance, China, Policy Study