Sino-Singapore Jingwei Client, July 18th (Song Yafen, Ma Jing) After nearly ten years of brewing, the national carbon trading market has finally opened.

Judging from the trading situation, it rose 6.73% on the first day.

Both the opening price and the closing price were higher than the average price of local pilots in the past two years.

The national carbon market rose on the first day of opening

  At 9:30 a.m. on July 16, the national carbon emission rights trading was officially launched at the Shanghai Environment and Energy Exchange.

  According to the data, the opening price of carbon trading was 48 yuan/ton on the first day of market opening. The first successfully matched national carbon transaction was 52.78 yuan per ton. A total of 160,000 tons were traded with a transaction volume of 7.9 million yuan.

As of the close of the day, the latest price of carbon allowances was 51.23 yuan/ton, an increase of 6.73%, and the average price was 51.23 yuan/ton.

The highest price of the day was 52.80 yuan/ton and the lowest price was 48 yuan/ton. The total transaction volume was 4,104,400 tons, and the total transaction volume was 210 million yuan.

  In October 2011, Beijing and other 7 provinces and cities launched the pilot work of carbon emissions trading, and it has been nearly ten years.

According to Zhao Yingmin, the vice minister of the Ministry of Ecology and Environment, at the State Council’s regular policy briefing on July 14, the weighted average carbon price in the past two years has been around RMB 40 from the perspective of the operation of the seven local pilots.

In contrast, the average price of carbon trading on the first day of opening is less than 12 yuan.

  Ren Baoxiang, a researcher at the Hainan Green Finance Research Institute, said in an interview with the Sino-Singapore Jingwei Client: "This price is relatively fair and can be said to reflect the market's expectations for carbon trading."

  However, Feng Lei, deputy general manager of the China Carbon (Beijing) Information Technology Research Institute, believes that on the first day of carbon trading, prices are not of great significance to the market, but they have a great stimulus effect on increasing confidence in the carbon market.

How to make carbon prices more reasonable?

  The carbon market uses price signals to guide the optimal allocation of carbon emission reduction resources, thereby reducing the emission reduction costs of the whole society, promoting investment in green and low-carbon industries, and guiding capital flows.

According to Zhao Yingmin, “From a microscopic and short-term perspective, the carbon price is mainly determined by the supply and demand of allowances. From a macroscopic and long-term perspective, the carbon price is determined by the overall conditions and trends of economic operation and industry development. He also mentioned that the carbon price is too high. Low, will dampen the enthusiasm of enterprises to reduce emissions; too high a carbon price will also cause some high-carbon companies to overburden.

  There is currently no standard answer on how to find a reasonable carbon price range.

Many interviewed experts mentioned that setting a reasonable carbon price is still a world problem.

  Feng Lei said that the data supervision of corporate carbon emissions and the calculation method of allowances will affect the relationship between supply and demand, which will cause fluctuations in carbon prices.

"To what extent can the company not only avoid systemic risks, but also achieve the ultimate goal of carbon emission reduction, it is very particular about'inch energy', which is a slow debugging process."

  Han Xiaoping, vice president and information director of China Energy Network, believes that although a reasonable scale is difficult to find, it is crucial to take the first step.

He emphasized that despite years of attempts, the market is still in the initial running-in stage and needs to be gradually understood by everyone.

  According to Zhao Yingmin, in the system design related to the national carbon market, it is considered to guide market expectations through policy measures such as improving allowance allocation methods and introducing offset mechanisms to form a reasonable carbon price.

At present, the national carbon market takes the power generation industry as a breakthrough. In the future, it will follow the principle of mature approval and release one. After the healthy operation of the carbon market in the power generation industry, high-emission industries such as petrochemicals, chemicals, building materials, iron and steel, nonferrous metals, papermaking, aviation, etc. Incorporate into the carbon market.

Will carbon prices rise sharply in the future?

  When more and more industries are included in the national carbon trading market, what direction will the carbon price take?

  In this regard, Han Xiaoping believes that, theoretically, prices will not rise sharply.

Behind the skyrocketing means there is speculation, which will increase the cost of carbon emission reduction.

  Ren Baoxiang analyzed that since my country's carbon emission reduction has just started, for many companies, allowances are still sufficient, so the current carbon price is reasonable.

But in the long run, as carbon peaks and carbon neutral policies advance, the annual carbon allowances will decrease year by year. When carbon allowances become scarce, carbon prices will gradually increase.

He also suggested that large carbon emitters, especially the main players in the financial market, should be included in the carbon market. This will increase the liquidity of the entire market and reduce the sharp rise and fall of carbon prices.

  Although the direction of the carbon price has yet to be verified, but the fast train of low-carbon development, companies may have to hurry up and "get on."

  "Carbon trading is essentially a reversing mechanism. It encourages companies to consider spending money on carbon indicators, choosing energy-saving emission reduction projects or upgrading production lines, and force companies to control carbon emissions by calculating economic accounts." Feng Lei suggested With the launch of national carbon trading, companies should sort out their carbon emission reduction targets as the first step.

Secondly, we must do a good job in carbon asset management, including the formulation of corporate emission data and trading strategies, and so on.

The third step is to improve the production process according to the plan.

  Han Xiaoping believes that in the future, companies should focus on technological progress.

"Behind technological progress is the reduction of carbon emissions and the improvement of efficiency. All systems must be further designed around carbon emissions." (Zhongxin Jingwei APP)

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