The Multi-Level Interactive Structure of the International Linkage of Carbon Market and Its Improvement
The international linkage of carbon market is an important path for the internationalization of carbon market,which can save the cost of emission reduction and provide more options for countries to obtain subsistence carbon emission rights.At present,the international linkage of carbon market has multi-level characteristicsand has formed a horizontal and vertical"three-dimensional"interactive structure.The political,economic,and institutional environments at each level are different,leading to different synergistic dilemmas.From the perspective of the future trend of international linkage of the carbon market,the frequency of interaction will increase and the interaction structure will become more complex.The carbon market is intertwined with carbon tariffs,carbon finance and other instruments,which makes the multi-level interaction of carbon market contain a double game of international politics and economy.China's carbon market structure is also moving towards a local,national and international multi-level framework,but it lacks the first-mover advantage and experience of international linkage.In order to improve the carbon pricing capacity in the global carbon market,China not only needs to enhance international recognition through the international linkage of carbon market,but also needs to establish a flexible mechanism to deal with li-quidity risks from the aspects of architecture,compatibility,and supervision.
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