Review on Coupling Mechanism of Carbon,Green Certificate and Power Market Under the Background of Carbon Peaking and Carbon Neutrality
Under the goal of"carbon peaking and carbon neutrality",China's carbon market,green certificate market and power market are increasingly connected in product attributes,price formation,mutual recognition standards,accounting system and other aspects.It is necessary to clarify the coupling relationship between the markets,so as to make the operation incentives of the three markets compatible,and better play the synergistic role of policy tools and market systems in terms of carbon reduction.Therefore,this paper first summarizes the coupling mechanism of carbon,green certificate and power market;On this basis,the paper further analyzes the key technologies of carbon-green certificate-power market coupling,including quota determination,mutual recognition mechanism of environmental rights and interests instruments,market linkage mechanism,market clearing model,and cross-market effect assessment method,and summarizes the existing related studies.Finally,according to the development status of each market in China,the development trend of the coupling operation of carbon-green-certificate-power market is analyzed,and the future development suggestions for the coupling of the markets are put forward from three aspects:the convergence of environmental policy tools,multi-market coupling and policy effect evaluation.
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