Experts believe that it may indicate that emission control units still mostly use “completion of compliance” as their trading motive, and the awareness and strategy of carbon trading are not yet complete.
According to data from the Shanghai Environment and Energy Exchange, on March 11, the transaction volume of the carbon emission allowance (CEA) listing agreement in the national carbon market was 60 tons, with a turnover of 3456.00 yuan and a closing price of 57.60 yuan/ton, which was higher than the previous day. 0.59%.
Since the official launch of online trading on July 16, 2021, the national carbon market has been running for nearly 8 months. As of March 11, the cumulative transaction volume of carbon emission allowances (CEA) in the national carbon market was 189 million tons, with a cumulative transaction value of 8.18 billion yuan.
In this regard, Sun Hao, a researcher of Tianfeng Futures, said in an interview with a reporter from “Securities Daily”, “At present, only power companies participate in the national carbon market, but the single-day transaction volume has been high and the transaction price is relatively stable, which shows that companies are actively participating. The level has been greatly improved, and the pricing system is relatively mature.”
Lv Hongbing, chairman of the board of supervisors of the All-China Lawyers Association and chief executive partner of Grandall Law Firm, analyzed to the “Securities Daily” reporter, “The financial attributes of the national carbon market are well developed, so the market activity and liquidity are relatively high. It will help better guide the rational allocation of resources and establish a more stable, orderly and efficient carbon trading market.”
“The carbon trading market can resolve the contradiction between supply and demand of energy such as coal, oil, and natural gas, and can promote the application and promotion of clean energy such as wind energy, water energy, hydrogen energy, and light energy, and balance the limited reserves of energy resources and the growing demand for energy consumption. Therefore, the function and role of the national carbon trading market will become increasingly apparent.” Song Xiangqing, deputy dean of the Beijing Normal University Government Management Research Institute and director of the Industrial Economics Research Center, said.
However, from November 1, 2021 to March 11, 2022, the transaction volume and transaction price of carbon allowances in the national carbon market, senior researcher of the Green Finance International Research Institute of the Central University of Finance and Economics and dean of the Yangtze River Delta Green Value Investment Research Institute Assistant Ren Yujie believes that there is a trend of “carbon prices are rising steadily, transaction volume needs to be increased, and transactions are significantly active as the performance period approaches”. At the same time, according to data released by the Shanghai Environment and Energy Exchange, from July 16, 2021 to December 31, 2021, the cumulative transaction volume of carbon emission allowances in the national carbon market reached 179 million tons, of which three-quarters of the transactions occurred in 2021. In December of this year, Ren Yujie said, “It may indicate that emission control units still mostly use ‘completion of compliance’ as their trading motive, and the awareness and strategy of carbon trading are not yet complete.”
Song Xiangqing agreed. “As of now, the carbon trading market and carbon trading rules are still new to most companies, and they are not familiar with trading rules. Therefore, in 2021, many companies are still in the testing and observation stage of carbon trading. Although carbon trading prices are stable and rising. , but the carbon trading volume is hovering at a low level, and the carbon trading compliance shows a phenomenon of first cold and then hot, first slow and then urgent. On the whole, the market performance is in line with expectations and in line with the general market development law.” He said.
“It is suggested that starting from the supply side in 2022, driving the overall transformation of high-carbon industries, high-carbon consumption, and high-carbon systems, and driving carbon emission trading entities to fully realize the multiple benefits of carbon trading, so as to expand the scale of trading and improve trading effects. “Song Xiangqing predicts that the carbon trading price and carbon trading volume in the national carbon market are expected to increase steadily this year, and the rate of increase will accelerate and the growth rate will expand.
Of course, market vitality is inseparable from policy efforts. According to relevant industry sources, the relevant regulatory authorities are in the process of advancing the fiscal and taxation policies that companies are more concerned about with carbon trading.
Lv Hongbing suggested that we should pay attention to changes in market supply and demand in a timely manner, improve the carbon price control mechanism, prevent market failures, and regulate government intervention, so as to avoid the market failure dilemma of oversupply that is often faced by carbon trading markets around the world. In addition, a unified carbon emission information disclosure platform can be established to make the information of relevant financial institutions transparent, and a carbon trading investor protection system can be established, an investor service platform can be established, investor services can be strengthened, and investor protection laws and regulations can be improved. .Return to Sohu, see more
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