本文選題：碳排放權 + 定價�。� 參考：《西安理工大學》2017年碩士論文

【摘要】：經濟發(fā)展帶來了氣候變暖問題,如今世界各國已經注意到了氣候變暖的嚴重性,并采取了一系列措施。我國近幾年發(fā)展迅速,但是存在著不合理的能源結構、環(huán)保意識不強等問題,造成了二氧化碳排放量居世界之首。因為我國的人口在發(fā)展中國家中屬于比較多的國家,排放的二氧化碳也比較多,加之我國是一個很有責任心的大國,所以我國也會對社會環(huán)境負責,減少二氧化碳的排放量,建立低碳城市。為了減少并合理的利用二氧化碳,我國準備建立一個全國性的碳市場。在建立碳市場的過程中,碳定價是首要解決的問題,也是很關鍵的一部分,關系到我國在碳排放權方面的定價權和我國的國際地位。本文首先對我國碳排放權的定義及屬性進行探討,指出碳排放權在我國會計準則中已經被定義為碳資產且具有商品的屬性,并分析我國碳排放權定價的現(xiàn)狀及存在的問題。在此基礎上,通過比較分析現(xiàn)有碳排放權定價的方法:影子價格、邊際減排成本法和實物期權定價法,并從企業(yè)角度出發(fā),提出了收支平衡定價法。分析了每種定價方法的特點及優(yōu)缺點,結合我國碳交易市場的發(fā)展階段,以某風電項目為例,將收支平衡定價方法應用于碳排放權現(xiàn)貨的定價;以深圳碳交易所的交易數(shù)據(jù)為基礎,模擬使用實物期權定價方法計算出碳排放權衍生產品的價格。得出以下結論:(1)收支平衡定價法可以作為碳交易市場中期碳排放權現(xiàn)貨的定價方法,一方面能夠為企業(yè)制定碳排放權價格提供價格參考,另一方面能夠方便企業(yè)分析價格變化的影響因素,及時調整價格;(2)B-S期權定價方法可以作為碳交易市場后期碳排放權衍生產品定價方法,比二叉樹和蒙特卡羅定價方法使用起來更加簡便。最后,針對我國碳排放權定價的現(xiàn)狀及存在的問題,從企業(yè)和國家的角度提出了一些建設性的建議:轉變碳排放權成本的管理方法和觀念、正確評估碳排放權的期望收益率、完善碳交易市場定價機制的法律制度、構建以風險控制為核心的碳交易市場定價監(jiān)管機制以及建立穩(wěn)定碳交易市場價格的綜合調控機制。
[Abstract]:Economic development has brought about the problem of global warming. Nowadays, countries all over the world have noticed the seriousness of climate warming and taken a series of measures. China has developed rapidly in recent years, but there are some problems such as unreasonable energy structure and weak consciousness of environmental protection, which leads to the highest carbon dioxide emissions in the world. Because the population of our country is relatively large among developing countries, and the emissions of carbon dioxide are also relatively large, plus China is a very responsible big country, so our country will also be responsible for the social environment and reduce the emissions of carbon dioxide. Establish low-carbon cities. In order to reduce and reasonable use of carbon dioxide, China is going to establish a national carbon market. In the process of establishing carbon market, carbon pricing is the first problem to be solved, and it is also a key part, which is related to the pricing power of carbon emission rights and the international status of our country. This paper first discusses the definition and attributes of carbon emission rights in China, points out that carbon emission rights have been defined as carbon assets and have commodity attributes in China's accounting standards, and analyzes the current situation and existing problems of carbon emission rights pricing in China. On this basis, the paper compares and analyzes the existing pricing methods of carbon emission rights, such as shadow price, marginal emission reduction cost method and real option pricing method, and puts forward the pricing method of balance of payments from the perspective of enterprises. This paper analyzes the characteristics, advantages and disadvantages of each pricing method, taking a wind power project as an example, applies the balance-of-payments pricing method to the spot pricing of carbon emission rights combined with the development stage of China's carbon trading market. Based on the trading data of Shenzhen carbon Exchange, the real option pricing method is used to calculate the price of carbon emission derivative products. Draw the following conclusion: 1) the balance-of-payments pricing method can be used as a pricing method for carbon emission rights spot in the medium term of the carbon trading market. On the one hand, it can provide a price reference for enterprises to set the carbon emission rights price. On the other hand, it is convenient for enterprises to analyze the influencing factors of price change and adjust the price in time. The option pricing method can be used as the pricing method of carbon emission derivative products in the later stage of carbon trading market. It is easier to use than binary trees and Monte Carlo pricing methods. Finally, in view of the current situation and existing problems of carbon emission right pricing in China, this paper puts forward some constructive suggestions from the perspective of enterprises and countries: to change the management method and concept of carbon emission right cost, and to correctly evaluate the expected rate of return of carbon emission right. We should perfect the legal system of the pricing mechanism of carbon trading market, construct the pricing supervision mechanism of carbon trading market with risk control as the core, and establish a comprehensive regulation mechanism to stabilize the price of carbon trading market.
【學位授予單位】：西安理工大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：X196;F832.5

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