Search Results (20)

In the context of the global response to climate change and the active promotion of energy transformation, a number of low-carbon policies coupled with the development of synergies to help power system transformation is an important initiative. However, the insufficient articulation of the green power market, tradable green certificate (TGC) market, and carbon emission trading (CET) mechanism, and the ambiguous policy boundaries affect the trading decisions made by its market participants. Therefore, this paper systematically analyses the composition of the main players in the electricity-CET-TGC markets and their relationship with each other, and designs the synergistic mechanism of the electricity-CET-TGC markets, based on which, it constructs the optimal profit model of the thermal power plant operators, renewable energy manufacturers, power grid enterprises, power users and load aggregators under the electricity-CET-TGC markets synergy, and analyses the behavioural decision-making of the main players in the electricity-CET-TGC markets as well as the electric power system to optimise the trading strategy of each player. The results of the study show that: (1) The synergistic mechanism of electricity-CET-TGC markets can increase the proportion of green power grid-connected in the new type of power system. (2) In the selection of different environmental rights and benefits products, the direct participation of green power in the market-oriented trading is the main way, followed by applying for conversion of green power into China certified emission reduction (CCER). (3) The development of independent energy storage technology can produce greater economic and environmental benefits. This study provides policy support to promote the synergistic development of the electricity-CET-TGC markets and assist the low-carbon transformation of the power industry. Full article

With the support of the dual-carbon strategy and related policies, China’s offshore wind power has experienced rapid development. However, constrained by the inherent intermittency and volatility of wind power, large-scale expansion poses significant challenges to grid integration and exacerbates government fiscal burdens. To address these critical issues, this paper proposes a multi-market coupling trading model integrating energy storage-equipped offshore wind power into electricity–carbon–green certificate markets for large-scale grid networks. Firstly, a day-ahead electricity market optimization model that incorporates energy storage is established to maximize power revenue by coordinating offshore wind power generation, thermal power dispatch, and energy storage charging/discharging strategies. Subsequently, carbon market and green certificate market optimization models are developed to quantify Chinese Certified Emission Reduction (CCER) volume, carbon quotas, carbon emissions, market revenues, green certificate quantities, pricing mechanisms, and associated economic benefits. To validate the model’s effectiveness, a gradient ascent-optimized game-theoretic model and a double auction mechanism are introduced as benchmark comparisons. The simulation results demonstrate that the proposed model increases market revenues by 17.13% and 36.18%, respectively, compared to the two benchmark models. It not only improves wind power penetration and comprehensive profitability but also effectively alleviates government subsidy pressures through coordinated carbon–green certificate trading mechanisms. Full article

With the proposal of China’s “dual carbon” goal, the carbon market has become a vital tool for controlling carbon emissions. This study constructs a system dynamics model encompassing carbon trading, the economy, energy, population, and the environment, and conducts simulation analysis against the backdrop of China’s national carbon market’s implementation. The results indicate that the implementation of China’s national carbon market significantly promotes carbon emissions reduction, albeit at the cost of some economic development in the short term. However, the suppressive effect of the carbon market on carbon emissions is stronger than its negative impact on economic growth. The effects of carbon reduction strengthen with increases in carbon price, quota auction, CCER price, penalty severity, and the quota reduction rate and weaken with a higher CCER offset ratio. A moderate reduction in the tightening quota reduction rate is more conducive to achieving coordinated development across the multiple objectives of carbon reduction, economic development, and energy structure. Under the constraints of multiple objectives involving carbon reduction, economic development, and energy structure, the reasonable range for carbon prices is between CNY 77.9 and CNY 118.9 per ton, with the maximum quota auction of 23.4%. Additionally, the reasonable range for the quota reduction rates is between 0.84% and 2.18%, with the penalty severity set at 7. Full article

As China’s voluntary greenhouse gas emission reduction mechanism undergoes institutional revitalization, the accurate valuation of carbon assets such as China Certified Emission Reductions (CCERs) becomes increasingly critical for effective climate finance and sustainability-oriented investment. This study proposes an integrated value assessment model for CCERs that combines Long Short-Term Memory (LSTM) neural network-based carbon price forecasting with both the discounted net cash flow method and the Black–Scholes option pricing framework. Applying this model to a wind power project, the study found that the practical value of CCERs, derived from verified emission reductions, significantly exceeds their market option value, underscoring the economic and environmental viability of such projects. By distinguishing between the realized and potential values of carbon credits, this research offers a comprehensive tool for carbon asset valuation that supports corporate carbon management and policy development. The framework contributes to the growing literature on sustainable finance by aligning carbon asset pricing with long-term climate goals and enhancing transparency in carbon markets. Full article

As the global energy transition progresses, green electricity, which is crucial for low-carbon systems, has gained attention. However, the lack of effective market linkages hinders a full understanding of the price transmission effects across green markets. This study uses the Vector Autoregression (VAR) model and Granger causality tests to analyze the price transmission and lag effects between the carbon, green certificate, and China Certified Emission Reduction (CCER) Markets. The findings reveal complex price linkages, offering theoretical insights and policy recommendations for optimizing green electricity markets and environmental rights trading. Full article

China has developed its own “CDM”, i.e., the China Certified Emission Reduction (CCER) scheme. International carbon organizations and individuals are interested in the CCER mechanism. We searched “CCER” in the web of science and, unfortunately, found no previously published studies that provide a detailed description of CCER, especially CCER forestry projects. This paper reviews the history, development, and current status of the CCER forestry projects. We introduced the components of the CCER program, including the CCER methodology system, the CCER registration system, the CCER trading system, and DOEs. In addition, we further introduced the development process, including project design, project validation and registration, project implementation, project monitoring, emission reduction accounting, emission reduction verification, and registration. Recommendations are proposed, including expanding methodologies, incorporating advanced technologies, optimizing monitoring frameworks, and pursuing international collaboration. This study provides policy and technical guidance for the sustainable development of China’s forest carbon market. Full article

Continuous incorporation of rice straw has caused significant CH₄ emissions from the paddy field production system in East China. Anaerobic digestion (AD) of the rice straw has been considered as a promising approach that could not only mitigate the land-based CH₄ emissions, but also generate low-carbon electricity and high-quality organic fertilizer. However, this approach, in many circumstances, is unable to be cost-competitive with other straw treatment processes or power sources. To understand the potential incentives that recently launched carbon trading schemes, the China Carbon Emission Trade Exchange (CCETE) and Chinese Certified Emission Reduction (CCER), could bring to the rice straw utilization value chain, we conducted a cradle-to-factory gate life cycle assessment and economic analysis of a small-scale AD system with rice straw as the main feedstock in East China. The results indicate that, depending on the choice of allocation method, the climate change impact of the bioenergy generated through the studied small-scale AD system is 0.21 to 0.28 kg CO₂eq./kWh, and the digester fertilizer produced is 6.88 to 22.09 kg CO₂eq./kg N. The economic analysis validates the financial sustainability of such small-scale AD projects with rice straw feedstock under carbon trading mechanisms. The climate mitigation potential could be achieved at the marginal reduction cost of 13.98 to −53.02 USD/t CO₂eq. in different carbon price scenarios. Full article

To promote the low-carbon energy transition, China is implementing renewable energy (RE) development policies such as renewable portfolio standards (RPSs), carbon emissions trading (CET) and China certified emission reduction (CCER) trading. However, using China’s current CET price to accurately reflect market information is difficult, which is not conducive to guiding low-carbon investment. Additionally, as RE power enters the era of grid parity, more revenues are needed to maintain generator operations. Therefore, in this study, we construct a system dynamics model to explore whether and how market mechanisms can optimize the power generation structure, and sensitivity analyses of CCER policy parameters are carried out to identify the impact and scope for improvement. The results show that (1) the market mechanism, especially the RPS mechanism, adjusts the profits of power generators, eliciting a surge in RE generation and optimizing the power generation structure; (2) CET and CCER prices change in the opposite direction of tradable green certificates (TGCs) and show a significant improvement effect on the on-grid electricity price; (3) successful implementation of the CCER mechanism can effectively energize the CET market. A lower CCER benchmark price, higher CCER offset ratio and CET fines can accelerate the growth of CCER and CET prices. Therefore, the government should promote TGC separation from power trading and rationally design CCER policies by lowering the CCER credit ratio, increasing CET fines, and expanding CCER market capacity to ensure that the guiding role of the market mechanism is better utilized. Full article

The connection between the green certificate market and the CCER market can further achieve the dual carbon goals, so it is imperative for the green certificate market, CCER market, and the connection market to coexist. it is necessary to convert green certificates into CCER in the connection market to achieve transactions between the two. The research is aimed at exploring the interface between green certificates and CCER, with the main objective of finding trading mode and trading method to address the interface between the two. This paper firstly proposes a concept of contribution degree that assists fair trading in the market, based on the different ways in which contribution degree is introduced in the trading of green certificates, CCER markets, and connecting markets, and establishes basic trading mode, unilateral contribution trading mode (UCM) and bilateral contribution trading mode. Then, the rolling matching trading model with the goal of maximizing total social welfare, the contribution degree model and the effect test model are established to realize the implementation of the above three modes through different combinations of the models. Finally, the quantitative results are obtained by simulating the trading situation of the three modes, and CCER offset ratio and contribution degree indicator weight are discussed. The results show that it is feasible to build a bridging market between green certificate and CCER by using the contribution degree, in which the UCM is the optimal solution to achieve the dual-carbon goal and market development. The setting of CCER offset ratio can be based on the difference of enterprise types, and the weight of indicators affecting the contribution level should be adjusted with the policy. The research in this paper has the following contributions: (1) a new criterion to satisfy fair trade—contribution degree is proposed to provide ideas for mutual recognition of products in the bridging market, and proposed a contribution degree calculation model for the green certificate and CCER markets, as well as the bridging market; (2) from the perspective of the contradiction between supply and demand in the market and fair trade, different schemes to build a bridging market are given in a fixed context and compared and analyzed; (3) from the market level, the quantitative analysis of the indicator settings affecting emission reduction, providing suggestions for the differentiated evaluation of warrants and the formulation of carbon reduction policies. Full article

This is the first review study that focuses on the interplay between China’s regulated and voluntary carbon markets, the Emissions Trading System (ETS), the China Certified Emission Reduction (CCER) scheme, and their combined influence on the development of renewable energy in the country. Through a comparative literature review of 52 peer-reviewed academic papers published between 2009 and 2024, this study aims to elucidate how these market mechanisms interact to drive renewable energy deployment. The findings indicate that both the ETS and the CCER system positively affect China’s renewable energy landscape. The ETS, with its Cap-and-Trade (CaT) mechanism, sets a cap on total emissions and allows for the trading of emission quotas, thereby creating financial incentives for companies to reduce emissions and invest in renewable energy. The CCER scheme complements the ETS by allowing companies to use the CCER scheme for a capped share of their ETS certificates, whereby the lower CCER price diverts investments to where the saved ton of CO₂ in China is cheapest, further incentivizing investments in renewable energy. This dual mechanism allows for a more flexible and cost-effective approach to achieving emission reduction targets, thereby fostering an environment conducive to investment in renewable energy. It will stimulate additional investment in renewable energy projects in the long run, particularly in economically underdeveloped regions, contributing to both local economic development and national emission reduction targets. Full article

The evaluation and prediction of ecological benefits are significant for regional resource development planning and path designing. This study established a novel ecological benefits evaluation system by integrating macro-ecosystem structure, Ecosystem service index (ESI), and ecological quality index (EQI). Based on this system, this study evaluated the spatiotemporal characteristics and changing trend of ecological benefits in Song-Liao River Basin (SRB) from 1990 to 2020. The results show that the macro-ecosystem structure in Song-Liao River Basin remains stable, and the ecosystem service and ecological quality generally show a trend of first decline and then increase. The average growth rates of ESI and EQI were 0.6% and 0.4%, respectively, during 1990–2020. The ecological benefits of natural areas with widely distributed forest areas are higher, while those of areas with frequent human activities are lower. The prediction model based on machine learning has achieved good modeling effect, which shows that the ecological benefits of SRB will be on the rise in the future. Based on the evaluation results, we suggest that more environmental protection policies on the basis of maintaining the existing development plan should be promoted to reduce the contradiction between human and nature in the development process. For the abundant natural forests in this area, reasonable forest management should be carried out to improve the carbon-fixation capacity of vegetation, and a Methodology for managing natural forests should be constructed to make full use of the existing carbon sinks. For the new afforestation project being promoted, carbon-sink afforestation projects of CCER (Chinese Certified Emission Reduction) should be promoted to realize the synergy between economic development and environmental protection. Full article

The greenhouse effect of atmospheric pollution is globally concerning. China is transitioning to market-driven emission reduction from policy-driven efforts. In 2021, key power industry emitters were included in the national carbon trading market. However, many companies lack willingness and understanding of carbon assets, hindering progress. Research on power companies in Beijing, a political and carbon market pilot region, is valuable. This study obtained data on the participation of Beijing’s power generation companies in the carbon market and the construction of their carbon management systems during the first compliance period through the distribution of surveys. The findings revealed that the implementation and preparation of carbon inventory, Chinese Certified Emission Reduction (CCER) development, the allocation of carbon management personnel, and training are key factors influencing the actual effectiveness of carbon management within companies. Based on the survey results and the impact pathways, this study outlines the preparatory work, system content, and construction steps for power companies to build a carbon management system. It summarizes five key areas of work for power companies in managing carbon assets: carbon inventory, carbon management personnel and mechanisms, carbon trading, carbon emission reduction, and carbon finance. This provides guidance to help power companies fulfill their obligations smoothly, add value to their carbon assets, and achieve low-carbon development goals. Additionally, it offers a reference for other industry enterprises that are about to enter carbon trading. Full article

Focusing on the construction of the National Big Data Comprehensive Pilot Zone (NBDCPZ), we adopted the difference-in-differences model to examine the impact of big data on green total factor productivity (GTFP), using data from 276 cities in China for the period of 2012 to 2019. We also conducted mediating effects and moderating effects tests to explore whether a factor exists through which, or relying on it, big data influences the GTFP. The result of the baseline regression showed that the construction of the NBDCPZ significantly increased GTFP. After a series of robustness tests, this conclusion remains valid. In addition, we examined the mediating effects of industrial structure and green innovation and found that the construction of the NBDCPZ increased the level of GTFP, mainly by promoting industrial structure upgrading and green innovation activities. We identified the moderating effects of different types of environmental regulation on the relationship between urban digital transformation and GTFP and found that market incentive environmental regulation (MIER) has a significant positive moderating effect on big data increasing GTFP. Conversely, the moderating effects of command and control environmental regulation (CCER) and social participation environmental regulation (SPER) were found to be insignificant. These findings suggest that urban digital transformation, through its contribution to increasing GTFP, is an important pathway to high-quality development. Full article

Business parks account for 30% of China’s total carbon emissions. Exploring emissions reduction approaches for business parks is crucial to achieve a net-zero emissions target, as well as for achieving a representative example for all types of emissions entities. Business parks mainly adopt two types of emissions reduction approaches: energy-saving renovations and purchasing carbon reduction products. However, there are limited studies focusing on the optimal combinations of the two approaches for reaching net-zero emissions and evaluating the cost effectiveness. To find a feasible and quantified way to build net-zero business park, a comprehensive path decision model is proposed. The problem is broken down into two parts: the optimal carbon reduction portfolio and the optimal electricity saving were researched. For the optimal product portfolio, the Markowitz theory is employed to balance the risk of carbon reduction products with the expected cost. In the part of optimal electricity saving, considering a ten-year life cycle, the total cost includes renovation investment, carbon reduction products cost, and cost saving of electricity consumption reduction. Based on the energy consumption, technical, and price data, the combination of energy-saving renovations and carbon reduction products is optimized. The model suggests a business park can save 24% of energy consumption through renovation investment and purchase CCER as 66% of the carbon reduction product portfolio. Taking only purchasing carbon reduction products as a benchmark to assess economic efficiency, implementing an optimized level of energy-saving renovation is found to save 16% of the comprehensive cost for the life cycle required to achieve zero carbon emissions. This model provides a new comprehensive optimization idea that will help future parks make decisions to achieve zero-carbon emission targets. Full article

It is of great significance to accurately assess the carbon sink capacity and trend of forest ecosystems on a regional scale, which is a key step to realizing sustainable forest management and carbon sink. Based on several remote sensing datasets, this study analyzes the dynamic characteristics of forest carbon stock in the Yangtze River Basin and its response to environmental factors using the Mann–Kendall nonparametric test, correlation analysis, and BP neural network during 2005–2020. The results show that forest carbon stock in the Yangtze River Basin shows a fluctuating upward trend, with an average annual growth rate of 0.91%. Forest carbon stock in western high-altitude areas and areas with high human activity in the east showed a downward trend, while the central plains showed a stable growth trend. In the vast plains of the Yangtze River Basin, a suitable drought degree (−0.5 < SPEI < 0.5) is helpful to the accumulation of forest carbon reserves. In the future, rich forest resources should be fully developed to promote synergy between environmental protection and economic development from the perspective of developing green carbon trading, such as the carbon-sink forestry projects of CCER. Full article