Buyers in the global carbon dioxide trading market are mainly divided into five categories: carbon dioxide funds established by international multilateral aid agencies entrusted by countries or regions; Large-scale emission industries, including power, construction and steel industries. For-profit investment carbon funds established by financial institutions; The government cooperates with carbon dioxide funds bilaterally, such as Spain, Italy and the Netherlands. The government directly cooperates with developing countries to obtain carbon dioxide emission reduction; In addition, it also includes some funds or individuals that voluntarily reduce emissions.
Different commodities in the carbon dioxide trading market have different trading rules and procedures. The unit cost of emission reduction generated by joint implementation mechanism is high and the transaction volume is small; In the first stage, the EU's emission permits exceeded demand because of the loose quotas set by various countries, and the price once fell to near zero. The certified emission reduction generated by clean development mechanism is favored because of its price advantage, accounting for 90% of the project carbon dioxide trading market in 2005 and 2006. The clean development mechanism is a win-win mechanism. On the one hand, developing countries can get capital and technology, on the other hand, developed countries can greatly reduce the high cost of domestic greenhouse gas emission reduction, thus reducing the overall economic cost of global greenhouse gas emission reduction. For example, at present, the emission reduction cost of British industrial enterprises in China is very high, and it is estimated that 1 ton will cost at least 20 to 30 euros, but if it is purchased in developing countries, the price is only 7 to 10 euros.
The implementation of CDM projects requires the participation and assistance of different professional institutions. These professional organizations can provide existing policies and regulations and internal financial situation analysis for project enterprises and conduct project feasibility studies. According to the regulations, in the pre-registration stage of the Executive Board of the International Clean Development Mechanism, the official body of the United Nations Framework Convention on Climate Change, a qualified third party is required to check the application materials of all projects and issue a conclusive report. These application materials and documents include project design documents, monitoring plans and baseline studies. The cost of CDM project depends on the workload and project scale, which is about 25,000-250,000 USD, including the project verification service fee1.5-25,000 USD and the project registration fee of 5,000-30,000 USD. The specific cost is determined by the relevant UN agencies.
Carbon dioxide trading introduces two brand-new concepts into enterprise balance sheets: "carbon assets" and "carbon debt", the unit of which is carbon credit, and one carbon credit is equal to 1 ton of carbon dioxide equivalent. Carbon assets are the extra income obtained by enterprises, not loans, but assets that can be sold and can be reserved; The price of carbon assets follows the market, rising and falling; In addition, it also has intangible value, which is conducive to enhancing the public image of the project enterprise and obtaining intangible social added value.
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Formation of carbon trading market
The global carbon trading market was born out of climate change and related policies. The Third Conference of the Parties to the United Nations Framework Convention on Climate Change held in Kyoto, Japan from 65438 to 0997 adopted the Kyoto Protocol, and 36 industrialized countries promised to reduce the emissions of six greenhouse gases such as carbon dioxide by 5% from 2008 to 20 12. Among them, the average decline of EU countries is 8%; Japan and Canada decreased by 6%.
Under the overall emission reduction target, due to the differences in specific economy, technology and energy structure among countries, the emission reduction targets agreed by EU member countries are also different. For example, the emission reduction targets of Luxembourg, Greece and Germany exceed 20%, while those of Spain and Britain are 15% and 12.5% respectively. The above provisions are binding on international law, and countries that fail to achieve emission reduction targets will face penalties, and their emission reduction obligations will increase by 65,438+0 after 2065,438+02. Three times. At the same time, the European Union also stipulates that if the relevant enterprises exceed the standard in the first phase between 2005 and 2007, the excess will be fined 40 euros per ton of carbon dioxide equivalent. In the second stage, from 2008 to 20 12, the penalty standard will be raised to 100 euro per ton of carbon dioxide equivalent.
Duncan McKinsey, director of the Economic Research Department of London International Financial Services Company, said in an exclusive interview with this reporter that considering that some energy-intensive enterprises in developed countries, such as steel and power plants, are under excessive pressure to reduce emissions, and the atmosphere is shared all over the world, the overall impact of emission reduction anywhere on the atmosphere is the same. Therefore, the Kyoto Protocol adopts a flexible emission reduction mechanism, stipulating that if a country has difficulties in fulfilling its emission reduction obligations within its own territory, it can help other countries achieve emission reduction through trade or project investment cooperation.
The flexible emission reduction mechanisms stipulated in Kyoto Protocol mainly include joint implementation mechanism, clean development mechanism and emission trading mechanism. Joint implementation mechanism refers to emission reduction units realized by developed countries through project cooperation, which can be transferred across borders, but the transferor must deduct the corresponding transfer quota from its own allowable emission quota. Clean development mechanism means that developed countries cooperate with developing countries in projects with capital and technology, and the "certified emission reduction" achieved by them can be included in the emission reduction commitments completed by developed countries. The emission trading mechanism means that between developed countries, one country can transfer its excess emission reduction targets to other countries through trade, and the transferor must deduct the corresponding transfer quotas from its own allowable emission quotas. The implementation of joint implementation mechanism and clean development mechanism gave birth to the project carbon trading market, while the emission trading mechanism contributed to the carbon trading market under trade.
Commodities traded in the carbon trading market can be divided into four categories according to their nature, namely, carbon emissions recognized by the Kyoto Protocol, certified emission reductions generated by the clean development mechanism, emission reduction units generated by the joint implementation mechanism, and emission licensing rights of the European Union. Carbon trading not only refers to carbon dioxide, but also includes five other greenhouse gases stipulated in the Kyoto Protocol, such as methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons and sulfur hexafluoride, which can be converted into carbon dioxide equivalents to facilitate trading.
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The global carbon dioxide trading market has broad prospects.
In recent years, reports on carbon dioxide trading have often appeared in newspapers. Whether people know about carbon dioxide trading or not, its market prospect will be very broad.
With the economic expansion of many emerging developing countries and the increasing use of fossil energy in these countries, the resulting carbon dioxide emissions have become the focus of global attention. A country's energy consumption and greenhouse gas emissions have become an important criterion to measure whether its economic development is "healthy". Unfortunately, in many developing countries, including China and India, environmental damage is inevitable due to the rigid demand for energy brought by economic development. Although the carbon dioxide emissions of developed countries are also large, their industrialization development has become increasingly mature, and with the promotion of technology and skills to reduce emissions, the carbon emissions of developed countries are maintaining a relatively stable level, and even the carbon emissions have declined.
The Global Energy Network believes that developed countries have sufficient capacity to control carbon dioxide emissions at a relatively stable level, while developing countries are still in the initial stage because of their immature industrialization level, so the control of carbon emissions lags far behind developed countries in terms of technology and concept. This gap provides favorable conditions for the establishment of carbon rights trading market. On the one hand, developing countries need emission reduction technologies from developed countries; On the other hand, developed countries can sell advanced technology in exchange for carbon rights, which can greatly reduce their high cost of reducing emissions at home and eventually accelerate the pace of action to slow down global climate change.
Today, carbon trading centers have been established all over the world. At the Australian Climate Exchange, the carbon trading price has now reached $8.60/ton. The Chicago Climate Exchange is also the world's first pioneer organization and market trading platform, and the only institution in North America that voluntarily participates in greenhouse gas emission reduction trading and is legally binding on emission reduction. Global Energy Network believes that Australia and the United States did not participate in the Kyoto Protocol, but the carbon trading platform they set up successfully completed the task of reducing emissions, although the original intention of establishing the carbon trading market was more for profit.
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China carbon dioxide exchange
The "China Clean Development Mechanism Development Cooperation Project for Achieving the Millennium Development Goals" jointly developed by the United Nations Development Programme, the Ministry of Science and Technology and the China International Economic and Technical Exchange Center was launched in Beijing.
It is understood that the total investment of the above-mentioned projects is 6.5438+0.7 million US dollars, which will be piloted in 654.38+02 provinces such as Xinjiang and Qinghai. Through the pilot project, it can not only help the western underdeveloped areas to take the first step of "green investment", but also provide capacity building and policy suggestions for China to expand the carbon dioxide market and reduce greenhouse gas emissions.
The clean development mechanism fund has been approved.
At the launching ceremony held yesterday, Ju Kuilin, deputy director of the International Cooperation Department of the Ministry of Finance, revealed that the State Council has recently officially approved the establishment of the Clean Development Mechanism Fund. If it runs smoothly, the fund is expected to officially start operation at the end of February or early March this year.
It is understood that this independently managed and operated fund aims to support the development of climate-related projects. Its sources of funds will include international cooperation funds, China's carbon dioxide trading income and direct government investment.
Gao Li, project coordinator of the Carbon Dioxide Fund, emphasized here that the biggest difference between the projects supported by the Fund and the general clean development mechanism (CDM) projects is that it will pay more attention to the social benefits realized through the projects. He said, "those projects that help reduce poverty, promote employment in the western region and develop renewable energy will be given priority support."
"Beijing Carbon Dioxide Exchange" surfaced.
Khalid Malik, coordinator of the United Nations system in China and representative of the United Nations Development Programme in China, did not make a substantive speech when attending the launching ceremony yesterday. However, according to a well-known overseas media report yesterday, the official revealed an important news-China and the United Nations are working to set up a carbon dioxide exchange in Beijing.
Although the above report does not point out the exact name of the brewing exchange, it is foreseeable that after the completion of the "exchange", Beijing will inevitably become another important center for the global multi-billion-dollar "carbon dioxide emission credit" transaction.
In the process of subsequent verification from relevant parties, the reporter learned that the "Beijing Carbon Dioxide Exchange" jointly planned and built by the United Nations and China is indeed taking shape. An expert from the China representative office of the World Bank said in an interview that the above intention had been known before, and the project "has reached the stage of putting it into action".
There's plenty of room. China took the initiative.
According to informed sources, the co-construction of Beijing Carbon Dioxide Exchange is an important cooperation intention reached by the Ministry of Science and Technology, the National Development and Reform Commission and the United Nations Development Programme on "Carbon Dioxide Emission Credit". According to an insider, Ma Li himself said, "I hope this project can start this year, as soon as possible."
It is worth noting that although there are several carbon dioxide exchanges in Europe and one in Chicago, the market is still scattered, and many carbon dioxide emissions transactions are conducted outside the exchanges through brokers or companies.
Therefore, in the eyes of professionals, if China successfully gets the opportunity to set up the "Beijing Carbon Dioxide Exchange" this time, it will not only mean that developing countries will have their first carbon exchange, but also compete with private carbon exchanges established in Europe and America, and help to further open up China's lucrative carbon dioxide emission credit market.
Experts from the World Wide Fund for Nature (WWF) representative office in China told reporters that the Nairobi meeting held at the end of 2006 took a small step to promote the next round of official negotiations on global carbon dioxide reduction in 2007. At the same time, experts pointed out that although ministers had a heated discussion on building a safer and low-carbon future at this meeting, they did not reach an agreement on emission reduction targets after 20 12.
"For enterprises in China, there is considerable space to participate in this field now." According to the above-mentioned report on the development and trend of carbon market provided by experts from the World Bank, in the first nine months of 2006, the carbon emission credit transactions in developing countries were about US$ 22 billion, double the whole year of 2005. In addition, according to the statistics of the United Nations Development Programme, the carbon emission reduction provided by China now accounts for about13 of the global market. It is predicted that by 20 12, China will account for 4 1% of all carbon emission credits issued by the United Nations.
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Noun interpretation
Carbon dioxide emission credit and clean development mechanism
"Carbon dioxide emission credit" is issued by the United Nations according to the relevant provisions of the clean development mechanism (CDM). "Carbon dioxide emission credit" (each credit represents one ton) can be sold in the international market on 15- 18. Liu Yanhua, Vice Minister of Science and Technology, said at the launching ceremony yesterday that by the end of this year 1, there were about 500 registered CDM projects in the world. China government has approved 300, of which 37 have been registered and can be officially sold to the international carbon dioxide market.
"Clean Development Mechanism" (CDM) is a method for some developed countries to fulfill their emission reduction commitments by investing in greenhouse gas emission reduction projects in developing countries according to the Kyoto Protocol signed in 1997. At present, the total number of registered and unregistered CDM projects in the world is only 654.38+0.8 billion tons.
Experts pointed out that it is still quite difficult for developed countries to achieve the greenhouse gas emission reduction target of 20 12 by themselves. It is widely predicted that developed countries may need to buy 2.5 billion tons of carbon dioxide emission reduction from developing countries by then.
Lv Xue, deputy director of the Global Environment Office of the Ministry of Science and Technology, told the reporter, "In the past, China enterprises participated less, and now a CDM project is submitted almost every day."
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