Driven by the goal of“carbon neutrality”and“emission peak”,effectively controlling system carbon emissions has become significantly important to governments around the world.To this end,a novel two-stage low-carbo...Driven by the goal of“carbon neutrality”and“emission peak”,effectively controlling system carbon emissions has become significantly important to governments around the world.To this end,a novel two-stage low-carbon economic scheduling framework that considers the coordinated optimization of ladder-type carbon trading and integrated demand response(IDR)is proposed in this paper for the integrated energy system(IES),where the first stage determines the energy consumption plan of users by leveraging the price-based electrical-heat IDR.In contrast,the second stage minimizes the system total cost to optimize the outputs of generations with consideration of the uncertainty of renewables.In addition,to fully exploit the system’s emission reduction potential,a carbon trading cost model with segmented CO_(2) emission intervals is built by introducing a reward-penalty ladder-type carbon trading mechanism,and the flexible thermal comfort elasticity of customers is taken into account by putting forward a predicted mean vote index on the load side.The CPLEX optimizer resolves the two-stage model,and the study results on a modified IES situated in North China show the proposed model can effectively reduce carbon emissions and guarantee economical efficiency operation of the system.展开更多
Following China and the United States,India is the third highest CO_(2)emitter in the world.With its fast rising population and an industry primarily reliant on coal and oil,the country's emissions will continue t...Following China and the United States,India is the third highest CO_(2)emitter in the world.With its fast rising population and an industry primarily reliant on coal and oil,the country's emissions will continue to rise unless appropriate measures are taken.In India generally the carbon sequestration is done by storing CO_(2)in sedimentary basins where it gets capped by the impermeable cap rocks.The study aims to unfold the other techniques of carbon sequestration in subsurface formations,except for narrating the different types of carbon capture and sequestration techniques along with its storage in different types of environments.For instance,abiotic and biotic environments for CO_(2)sequestration.It further talks about carbon injections of oceanic,geological,and terrestrial types,to name just a few.Types of carbon emission sources are discussed too.In this paper three different approaches are described for carbon mitigation,namely CarbFix,CO_(2)Plume technology and Carbon Trading.A prefeasibility study was done in order to implement the three techniques in Dholera geothermal region in Gujarat,India.In literature review,it can be seen how the three techniques can help in permanent mitigation of captured carbon through carbonate mineralization,power generation and industrial applications.For any project government and public participation is important.In this regard the study gives a brief understanding about the steps to be taken by government and the public to promote such projects for carbon mitigation.Besides,the steps to be taken in such projects for health and risk assessment were talked about in literature review too.展开更多
Climate change is currently the biggest environmental challenge facing sustainable development in human society,and an inherent requirement for achieving sustainable development is actively addressing climate change.U...Climate change is currently the biggest environmental challenge facing sustainable development in human society,and an inherent requirement for achieving sustainable development is actively addressing climate change.Under the increasingly strict constraints of climate governance,developed countries such as the United States,European Union countries,and Japan have responded and actively formulated low-carbon development goals and policy measures that are in line with their national conditions.These policies mainly involve various fields such as low-carbon technology,energy conservation and emission reduction,and circular development,with clear policy guidance.In this paper,the evolution of policies on marine carbon sink and carbon trading in developed countries such as the United States and Europe is summarized,providing support for a better understanding of the background of international and domestic policy formulation.展开更多
Climate change is currently the biggest environmental challenge facing sustainable development in human society,and it is an inherent requirement for achieving sustainable development by actively addressing climate ch...Climate change is currently the biggest environmental challenge facing sustainable development in human society,and it is an inherent requirement for achieving sustainable development by actively addressing climate change.Under the increasingly strict constraints of climate governance,developed countries such as the United States,European Union countries,and Japan have responded and actively formulated low-carbon development goals and policy measures that are in line with their national conditions.These policies mainly involve various fields such as low-carbon technology,energy conservation and emission reduction,and circular development,with clear policy guidance.In this paper,the evolution of policies on marine carbon sink and carbon trading in China is summarized,providing support for better understanding the background of formulating relevant international and domestic policies.展开更多
Based on the survey of international emissions trading system （ETS） and quantitative analysis, policy suggestions on establishing a carbon ETS in China are presented in this study. Sectors sensitive to carbon prices...Based on the survey of international emissions trading system （ETS） and quantitative analysis, policy suggestions on establishing a carbon ETS in China are presented in this study. Sectors sensitive to carbon prices, e.g., the power generation sector and the iron and steel industry, are given priority to be covered by the ETS. Interregional carbon trading should be carried out as early as possible. The cap of the ETS should be based on China＇s carbon intensity reduction target with the floor carbon price for the market being set in the beginning. Suggestions on the infrastructure of ETS are also proposed, including the national wide carbon measuring, reporting, verification system building. account registration system and the legislation to national展开更多
Climate warming is one of the important environmental issues with global concern. The Bloomberg News has recorded temperature changes in the recent 135 years. As the hottest year, in 2014 the global surface temperatur...Climate warming is one of the important environmental issues with global concern. The Bloomberg News has recorded temperature changes in the recent 135 years. As the hottest year, in 2014 the global surface temperature was as high as 1.39 degrees Fahrenheit, 0.68 degrees Celsius higher than the average in long-term. The severity of this issue has been proved with the refresh of the highest record^([1]) and the increasing temperature as well as people's personal experience. There is a demand of in-depth discussion about comprehensive and efficient reduction of carbon and greenhouse gas emission and the development of low carbon economy, with garbage classification as the most efficient breach but also most easily to be neglected by people. This article attempts to find a feasible method of carbon emission reduction from the perspective of garbage classification and resource recycling and make quantitative estimation of its value combined with local practice and data in Chengdu.展开更多
The contributions of carbon reduction policies were evaluated and compared for six carbon trading pilot schemes in China, in four municipalities(Beijing, Shanghai, Tianjin, and Chongqing) and two provinces(Guangdong a...The contributions of carbon reduction policies were evaluated and compared for six carbon trading pilot schemes in China, in four municipalities(Beijing, Shanghai, Tianjin, and Chongqing) and two provinces(Guangdong and Hubei). The carbon emissions accounting method of the Intergovernmental Panel on Climate Change was used to calculate the actual CO2 and the support vector machine model was used to predict CO2. Chinese carbon reduction policies abated CO2 in the six carbon trading pilot schemes after the comprehensive policies came into force. However, the contribution of policies to CO2 abatement varied among regions, and the effect of carbon reduction policy on municipality pilot schemes was greater than on provincial pilot schemes. The largest contribution of carbon reduction policy to CO2 abatement was 28.3%, for the pilot carbon trading scheme in Beijing, and the smallest contribution was 3.7%, for that in Hubei. It is crucial to consider "carbon leakage" and a carbon trading linking program in order to evaluate the effects of carbon reduction policies.展开更多
China has promised to start the national carbon trading system in 2017.In the carbon trading system,the renewable energy projects may obtain additional benefits through the Certified Carbon Emission Reduction(CCER) tr...China has promised to start the national carbon trading system in 2017.In the carbon trading system,the renewable energy projects may obtain additional benefits through the Certified Carbon Emission Reduction(CCER) trade.As the carbon price fluctuates along with the market conditions,such fluctuation enables the renewable power projects to acquire the rights of an option,i.e.it may contain an even higher value due to the uncertainties in the future.While making an investment decision,the renewable power companies may choose to make the investment immediately,or postpone the investment and accumulate more information to increase the return of investment;and for immediate investments,the return must be sufficient to exceed the potential value of a waiting option.To study the investment in renewable power projects subject to the fluctuation of carbon price,this paper adopts the trinomial tree model of real options to estimate the net present value(NPV) and real option value(ROV) of three types of renewable power projects;according to the decision-making rules of real options to defer,all the three types of projects will exercise the option to postpone the investment decision.This thesis also calculates the benchmark prices of the three types of renewable projects at different times,in the two situations of having no government subsidy and having the government subsidy,so as to determine the investment opportunity of a project.The benchmark price decreases gradually along with the increase of government subsidy,indicating that the government subsidy will stimulate the investment in renewable projects.The benchmark price also increases gradually along with the lapse of time,indicating that the uncertainty will increase together with the time span and thus requires an even higher carbon price to determine the investment opportunity.This thesis also analyzes the sensitivity of factors affecting the investment in renewable projects and draws the conclusion that the fluctuation of carbon price is positively related with the benchmark price of renewable power projects,which indicates that the fluctuation of carbon price increases the option value of an investment but postpones the time of investment.As the China's carbon trading system improves gradually,the carbon price will reach a stable status,thus stimulate the power companies to invest in the renewable projects.展开更多
The carbon tradingmarket can promote“carbon peaking”and“carbon neutrality”at low cost,but carbon emission quotas face attacks such as data forgery,tampering,counterfeiting,and replay in the electricity trading mar...The carbon tradingmarket can promote“carbon peaking”and“carbon neutrality”at low cost,but carbon emission quotas face attacks such as data forgery,tampering,counterfeiting,and replay in the electricity trading market.Certificateless signatures are a new cryptographic technology that can address traditional cryptography’s general essential certificate requirements and avoid the problem of crucial escrowbased on identity cryptography.However,most certificateless signatures still suffer fromvarious security flaws.We present a secure and efficient certificateless signing scheme by examining the security of existing certificateless signature schemes.To ensure the integrity and verifiability of electricity carbon quota trading,we propose an electricity carbon quota trading scheme based on a certificateless signature and blockchain.Our scheme utilizes certificateless signatures to ensure the validity and nonrepudiation of transactions and adopts blockchain technology to achieve immutability and traceability in electricity carbon quota transactions.In addition,validating electricity carbon quota transactions does not require time-consuming bilinear pairing operations.The results of the analysis indicate that our scheme meets existential unforgeability under adaptive selective message attacks,offers conditional identity privacy protection,resists replay attacks,and demonstrates high computing and communication performance.展开更多
Given the“double carbon”objective and the drive toward low-carbon power,investigating the integration and interaction within the carbon-electricity market can enhance renewable energy utilization and facilitate ener...Given the“double carbon”objective and the drive toward low-carbon power,investigating the integration and interaction within the carbon-electricity market can enhance renewable energy utilization and facilitate energy conservation and emission reduction endeavors.However,further research is necessary to explore operational optimization methods for establishing a regional energy system using Power-to-Hydrogen(P2H)technology,focusing on participating in combined carbon-electricity market transactions.This study introduces an innovative Electro-Hydrogen Regional Energy System(EHRES)in this context.This system integrates renewable energy sources,a P2H system,cogeneration units,and energy storage devices.The core purpose of this integration is to optimize renewable energy utilization and minimize carbon emissions.This study aims to formulate an optimal operational strategy for EHRES,enabling its dynamic engagement in carbon-electricity market transactions.The initial phase entails establishing the technological framework of the electricity-hydrogen coupling system integrated with P2H.Subsequently,an analysis is conducted to examine the operational mode of EHRES as it participates in carbon-electricity market transactions.Additionally,the system scheduling model includes a stepped carbon trading price mechanism,considering the combined heat and power generation characteristics of the Hydrogen Fuel Cell(HFC).This facilitates the establishment of an optimal operational model for EHRES,aiming to minimize the overall operating cost.The simulation example illustrates that the coordinated operation of EHRES in carbon-electricity market transactions holds the potential to improve renewable energy utilization and reduce the overall system cost.This result carries significant implications for attaining advantages in both low-carbon and economic aspects.展开更多
A robust scheduling optimization method for wind–fire storage system distribution based on the mixed carbon trading mechanism is proposed to improve the rationality of carbon emission quota allocation while reducing ...A robust scheduling optimization method for wind–fire storage system distribution based on the mixed carbon trading mechanism is proposed to improve the rationality of carbon emission quota allocation while reducing the instability of large-scale wind power access systems.A hybrid carbon trading mechanism that combines shortterm and long-term carbon trading is constructed,and a fuzzy set based onWasserstein measurement is proposed to address the uncertainty of wind power access.Moreover,a robust scheduling optimization method for wind–fire storage systems is formed.Results of the multi scenario comparative analysis of practical cases show that the proposed method can deal with the uncertainty of large-scale wind power access and can effectively reduce operating costs and carbon emissions.展开更多
As an integrated carrier of energy production,transmission,distribution,conversion,storage,and utilization,multiple energy systems(MESs)have significant low-carbon potential.This paper proposes a hierarchical distribu...As an integrated carrier of energy production,transmission,distribution,conversion,storage,and utilization,multiple energy systems(MESs)have significant low-carbon potential.This paper proposes a hierarchical distributed dispatch model of MESs considering carbon trading,which is composed of the lower autonomous operation level of each MES and the upper coordinated control level.Different carbon emission sources are considered,including combined heat and power(CHP)units,gas boilers,and power to gas(P2G)devices.The transactive control(TC)mechanism is used to solve the model by introducing a virtual price signal.In the case study based on a 3-MES system,the effectiveness of the proposed distributed method is proved by comparison with a centralized algorithm.Meanwhile,the impacts of different carbon prices on MESs with different resource endowments are analyzed from the aspects of scheduling results,carbon emissions,clean energy consumption rate,and comprehensive operating costs.展开更多
Climate change and energy shortage crisis promptly necessitate achievement of sustainable development goals.However,there is no straightforward pathways for low-carbon transformation on building sectors,and energy/car...Climate change and energy shortage crisis promptly necessitate achievement of sustainable development goals.However,there is no straightforward pathways for low-carbon transformation on building sectors,and energy/carbon trading and reverse promotion on decarbonization strategies are not clear.In this study,a literature enumeration method with dialectical analysis was adopted for state-of-the-art literature review and comparison.Low-carbon transformation pathways in buildings were holistically reviewed,with a series of integrated techniques,such as energy saving,clean energy supply,flexible demand response for high self-consumption,and even smart electric vehicle(EV)integration.Afterwards,energy/carbon flows and trading in building-related systems were provided,such as peer-to-peer energy trading,building and thermal/power grids,building and energyintegrated EVs,and carbon trading in buildings.Last but not the least,worldwide decarbonization roadmaps across regions and countries are analysed,to identify the most critical aspects and immediate actions on decarbonization.Results indicate that tradeoff strategies are required to compromise the confliction between insufficient feed-in tariff(FiT)incentives(low renewable penetration in the market)and great economic pressures(high investment in renewable systems).Low-carbon building pathway is further enhanced with first priority given to passive/active energy-saving strategies,onsite clean energy supply and then flexible demand response.Energy/carbon trading will significantly affect renewable energy utilization,and acceptance from end-users to actively install renewable systems or participate in EV interactions.Worldwide decarbonization pathways mainly focus on industries,transportation,buildings,renewable sources,carbon sink and carbon capture,utilization and storage(CCUS).This study can contribute to technical roadmaps and strategies on carbon neutrality transition in both academia and industry,together with advanced policies in grid feed-in tariff,energy/carbon trading and business models worldwide.展开更多
This study reveals the inconsistencies between the negative externalities of carbon emissions and the recognition condition of accounting statements.Hence,the study identifies that heavily polluting enterprises in Chi...This study reveals the inconsistencies between the negative externalities of carbon emissions and the recognition condition of accounting statements.Hence,the study identifies that heavily polluting enterprises in China have severe off-balance sheet carbon reduction risks before implementing the carbon emission trading system(CETS).Through the staggered difference-in-difference(DID)model and the propen-sity score matching-DID model,the impact of CETS on reducing the risk of stock price crashes is examined using data from China’s A-share heavily polluting listed companies from 2007 to 2019.The results of this study are as follows:(1)CETS can significantly reduce the risk of stock price crashes for heavily polluting companies in the pilot areas.Specifically,CETS reduces the skewness(negative conditional skewness)and down-to-up volatility of the firm-specific weekly returns by 8.7%and 7.6%,respectively.(2)Heterogeneity analysis further shows that the impacts of CETS on the risk of stock price crashes are more significant for heavily polluting enterprises with the bear market condition,short-sighted management,and intensive air pollution.(3)Mechanism tests show that CETS can reduce analysts’coverage of heavy polluters,reducing the risk of stock price crashes.This study reveals the role of CETS from the stock price crash risk perspective and helps to clarify the relationship between climatic risk and corporate financial risk.展开更多
Carbon emission trading pilot policies were launched in seven provinces and cities,including Beijing,Shanghai,Tianjin and Chongqing in 2013.Carbon emission trading is of great significance to the development of green ...Carbon emission trading pilot policies were launched in seven provinces and cities,including Beijing,Shanghai,Tianjin and Chongqing in 2013.Carbon emission trading is of great significance to the development of green economy.Taking China’s carbon emission trading pilot as a natural experiment,the dual difference method was used to explore the carbon emission reduction effect of the pilot carbon emission trading policy on the pilot areas in China based on the panel data of 30 provinces,autonomous regions and municipalities in China from 2000 to 2019.Propensity score matching,parallel trend test and placebo test were conducted to improve the robustness of the empirical results.It is found that carbon emission trading pilot policies significantly promote carbon emission reduction in pilot areas compared with non-pilot areas.This conclusion from the benchmark regression passed the robustness test,and the carbon reduction effect showed an increasing trend year by year.With the mediation effect test,the carbon emission reduction mechanism of the pilot policy was studied.The results show that the carbon trading pilot policy reduces the carbon dioxide emission in the pilot area by promoting the upgrading of industrial structure and technological progress.展开更多
The increasing penetration of plug-in electric ve- hicles (PEVs) has highlighted the importance of coordinating ubiquitous distributed energy resources (DERs) via the internet of things (IoT).With the help of vehicle-...The increasing penetration of plug-in electric ve- hicles (PEVs) has highlighted the importance of coordinating ubiquitous distributed energy resources (DERs) via the internet of things (IoT).With the help of vehicle-to-grid (V2G) technology, PEVs can be aggregated to behave as a storage system, yielding both economic and environmental benefits. In this paper, we propose an optimal bidding framework for a V2G-enabled re- gional energy internet (REI) to participate in day-ahead markets considering carbon trading. The REI operator aims to maximize the net profits from day-ahead markets while anticipating real- time adjustments. A detailed battery model is developed to depict the charging and discharging capability of V2G-enabled PEVs. A two-stage stochastic optimization model is formulated to schedule the operation of PEV fleets against various sources of uncertainties, e.g., the arrival and departure time of PEVs, solar power and real-time prices. Case studies undertaken based on realistic datasets demonstrate that the coordination of the V2G- enabled PEVs and other DERs can facilitate the accommodation of renewable energy, thus improving the REI’s revenues in energy and carbon markets.展开更多
Introducing carbon trading into electricity market can convert carbon dioxide into schedulable resources with economic value.However,the randomness of wind power generation puts forward higher requirements for electri...Introducing carbon trading into electricity market can convert carbon dioxide into schedulable resources with economic value.However,the randomness of wind power generation puts forward higher requirements for electricity market transactions.Therefore,the carbon trading market is introduced into the wind power market,and a new form of low-carbon economic dispatch model is developed.First,the economic dispatch goal of wind power is be considered.It is projected to save money and reduce the cost of power generation for the system.The model includes risk operating costs to account for the impact of wind power output variability on the system,as well as wind farm negative efficiency operating costs to account for the loss caused by wind abandonment.The model also employs carbon trading market metrics to achieve the goal of lowering system carbon emissions,and analyze the impact of different carbon trading prices on the system.A low-carbon economic dispatch model for the wind power market is implemented based on the following two goals.Finally,the solution is optimised using the Ant-lion optimisation method,which combines Levi's flight mechanism and golden sine.The proposed model and algorithm's rationality is proven through the use of cases.展开更多
Taking provincial panel data of China as the sample,this paper simulates and analyzes the potential effect of carbon emissions trading in China under the condition of unconstrained and constrained respectively.The res...Taking provincial panel data of China as the sample,this paper simulates and analyzes the potential effect of carbon emissions trading in China under the condition of unconstrained and constrained respectively.The results are as follows.(1)As the theoretical basis of carbon trading,the shadow price of carbon dioxide is inclined to rise generally.The absolute gap among provinces and that among eight regions tend to expand,but the relative gap tends to narrow.(2)With the reduction of national carbon intensity to the greatest degree as the aim,carbon trading could reduce the carbon intensity by 20.06%under the condition of given national GDP.If the strict constraint of national GDP is relaxed,and the constraint of economic growth and environment conservation of each region is imposed,carbon trading could reduce the carbon intensity by 22.20%.(3)The current overall promotion process of carbon intensity in China has achieved the phased goal of the Copenhagen Conference commitment.The interprovincial carbon trading could strongly boost the improvement of carbon intensity,and the general requirements of Copenhagen Conference could be satisfied.展开更多
The international community has taken extensive actions to achieve carbon neutrality and sustainable development with the intensification of global warming and climate change.China has also carried out a long-term lay...The international community has taken extensive actions to achieve carbon neutrality and sustainable development with the intensification of global warming and climate change.China has also carried out a long-term layout,setting the goal of achieving a carbon peak by 2030 and carbon neutrality by 2060.In 2021,with the official launch of a unified national carbon emissions trading market,China’s nationwide carbon emissions trading kicked off.Carbon emission trading is an important policy tool for China’s carbon peak and carbon-neutral action and an essential part of the country’s promotion of a comprehensive green transformation of the economy and society.This study uses a VAR(Vector Autoregressive)model to analyze the influencing factors of the Beijing carbon emissions trading price from January 2014 to December 2019.The study found that coal prices have the most significant impact on Beijing’s carbon emissions trading prices.Oil prices,industrial development indexes,and AQI(Air Quality Index)impacted Beijing’s carbon emissions trading prices.In contrast,natural gas prices and economic indexes have the most negligible impact.These findings will help decision-makers determine a reasonable price for carbon emissions trading and contribute to the market’s healthy development.展开更多
After a decade of planning and trials,China officially launched a national carbon trading in July 2021.Using a standard economic model,this study shows that an unconstrained carbon trading market would face a dilemma ...After a decade of planning and trials,China officially launched a national carbon trading in July 2021.Using a standard economic model,this study shows that an unconstrained carbon trading market would face a dilemma between minimizing pollution control costs and maximizing social benefits.We further show that this would be a significant challenge in China.Our results show that areas with higher population densities also would have higher costs for carbon reduction,and hence the polluters in those areas would be net buyers in the national market.Moreover,our analysis indicates a significantly high correlation between carbon dioxide emissions and other local pollutants.Therefore,cross-regional transactions may result in more emission of other pollutants in areas with higher population density under the unconstrained national cap-and-trade system and cause larger losses in social benefits.We call for more studies to address the issue.展开更多
基金supported by the State Grid Shandong Electric Power Company Economic and Technical Research Institute Project(SGSDJY00GPJS2100135).
文摘Driven by the goal of“carbon neutrality”and“emission peak”,effectively controlling system carbon emissions has become significantly important to governments around the world.To this end,a novel two-stage low-carbon economic scheduling framework that considers the coordinated optimization of ladder-type carbon trading and integrated demand response(IDR)is proposed in this paper for the integrated energy system(IES),where the first stage determines the energy consumption plan of users by leveraging the price-based electrical-heat IDR.In contrast,the second stage minimizes the system total cost to optimize the outputs of generations with consideration of the uncertainty of renewables.In addition,to fully exploit the system’s emission reduction potential,a carbon trading cost model with segmented CO_(2) emission intervals is built by introducing a reward-penalty ladder-type carbon trading mechanism,and the flexible thermal comfort elasticity of customers is taken into account by putting forward a predicted mean vote index on the load side.The CPLEX optimizer resolves the two-stage model,and the study results on a modified IES situated in North China show the proposed model can effectively reduce carbon emissions and guarantee economical efficiency operation of the system.
文摘Following China and the United States,India is the third highest CO_(2)emitter in the world.With its fast rising population and an industry primarily reliant on coal and oil,the country's emissions will continue to rise unless appropriate measures are taken.In India generally the carbon sequestration is done by storing CO_(2)in sedimentary basins where it gets capped by the impermeable cap rocks.The study aims to unfold the other techniques of carbon sequestration in subsurface formations,except for narrating the different types of carbon capture and sequestration techniques along with its storage in different types of environments.For instance,abiotic and biotic environments for CO_(2)sequestration.It further talks about carbon injections of oceanic,geological,and terrestrial types,to name just a few.Types of carbon emission sources are discussed too.In this paper three different approaches are described for carbon mitigation,namely CarbFix,CO_(2)Plume technology and Carbon Trading.A prefeasibility study was done in order to implement the three techniques in Dholera geothermal region in Gujarat,India.In literature review,it can be seen how the three techniques can help in permanent mitigation of captured carbon through carbonate mineralization,power generation and industrial applications.For any project government and public participation is important.In this regard the study gives a brief understanding about the steps to be taken by government and the public to promote such projects for carbon mitigation.Besides,the steps to be taken in such projects for health and risk assessment were talked about in literature review too.
文摘Climate change is currently the biggest environmental challenge facing sustainable development in human society,and an inherent requirement for achieving sustainable development is actively addressing climate change.Under the increasingly strict constraints of climate governance,developed countries such as the United States,European Union countries,and Japan have responded and actively formulated low-carbon development goals and policy measures that are in line with their national conditions.These policies mainly involve various fields such as low-carbon technology,energy conservation and emission reduction,and circular development,with clear policy guidance.In this paper,the evolution of policies on marine carbon sink and carbon trading in developed countries such as the United States and Europe is summarized,providing support for a better understanding of the background of international and domestic policy formulation.
文摘Climate change is currently the biggest environmental challenge facing sustainable development in human society,and it is an inherent requirement for achieving sustainable development by actively addressing climate change.Under the increasingly strict constraints of climate governance,developed countries such as the United States,European Union countries,and Japan have responded and actively formulated low-carbon development goals and policy measures that are in line with their national conditions.These policies mainly involve various fields such as low-carbon technology,energy conservation and emission reduction,and circular development,with clear policy guidance.In this paper,the evolution of policies on marine carbon sink and carbon trading in China is summarized,providing support for better understanding the background of formulating relevant international and domestic policies.
基金supported by the National Basic Research Program of China(No.2012CB955700 and 2010CB955501)
文摘Based on the survey of international emissions trading system （ETS） and quantitative analysis, policy suggestions on establishing a carbon ETS in China are presented in this study. Sectors sensitive to carbon prices, e.g., the power generation sector and the iron and steel industry, are given priority to be covered by the ETS. Interregional carbon trading should be carried out as early as possible. The cap of the ETS should be based on China＇s carbon intensity reduction target with the floor carbon price for the market being set in the beginning. Suggestions on the infrastructure of ETS are also proposed, including the national wide carbon measuring, reporting, verification system building. account registration system and the legislation to national
文摘Climate warming is one of the important environmental issues with global concern. The Bloomberg News has recorded temperature changes in the recent 135 years. As the hottest year, in 2014 the global surface temperature was as high as 1.39 degrees Fahrenheit, 0.68 degrees Celsius higher than the average in long-term. The severity of this issue has been proved with the refresh of the highest record^([1]) and the increasing temperature as well as people's personal experience. There is a demand of in-depth discussion about comprehensive and efficient reduction of carbon and greenhouse gas emission and the development of low carbon economy, with garbage classification as the most efficient breach but also most easily to be neglected by people. This article attempts to find a feasible method of carbon emission reduction from the perspective of garbage classification and resource recycling and make quantitative estimation of its value combined with local practice and data in Chengdu.
基金jointly supported by the National Basic Research Program of China(Grant No.2012CB9557001)the National Natural Science Foundation of China(Grant No.41175125)
文摘The contributions of carbon reduction policies were evaluated and compared for six carbon trading pilot schemes in China, in four municipalities(Beijing, Shanghai, Tianjin, and Chongqing) and two provinces(Guangdong and Hubei). The carbon emissions accounting method of the Intergovernmental Panel on Climate Change was used to calculate the actual CO2 and the support vector machine model was used to predict CO2. Chinese carbon reduction policies abated CO2 in the six carbon trading pilot schemes after the comprehensive policies came into force. However, the contribution of policies to CO2 abatement varied among regions, and the effect of carbon reduction policy on municipality pilot schemes was greater than on provincial pilot schemes. The largest contribution of carbon reduction policy to CO2 abatement was 28.3%, for the pilot carbon trading scheme in Beijing, and the smallest contribution was 3.7%, for that in Hubei. It is crucial to consider "carbon leakage" and a carbon trading linking program in order to evaluate the effects of carbon reduction policies.
文摘China has promised to start the national carbon trading system in 2017.In the carbon trading system,the renewable energy projects may obtain additional benefits through the Certified Carbon Emission Reduction(CCER) trade.As the carbon price fluctuates along with the market conditions,such fluctuation enables the renewable power projects to acquire the rights of an option,i.e.it may contain an even higher value due to the uncertainties in the future.While making an investment decision,the renewable power companies may choose to make the investment immediately,or postpone the investment and accumulate more information to increase the return of investment;and for immediate investments,the return must be sufficient to exceed the potential value of a waiting option.To study the investment in renewable power projects subject to the fluctuation of carbon price,this paper adopts the trinomial tree model of real options to estimate the net present value(NPV) and real option value(ROV) of three types of renewable power projects;according to the decision-making rules of real options to defer,all the three types of projects will exercise the option to postpone the investment decision.This thesis also calculates the benchmark prices of the three types of renewable projects at different times,in the two situations of having no government subsidy and having the government subsidy,so as to determine the investment opportunity of a project.The benchmark price decreases gradually along with the increase of government subsidy,indicating that the government subsidy will stimulate the investment in renewable projects.The benchmark price also increases gradually along with the lapse of time,indicating that the uncertainty will increase together with the time span and thus requires an even higher carbon price to determine the investment opportunity.This thesis also analyzes the sensitivity of factors affecting the investment in renewable projects and draws the conclusion that the fluctuation of carbon price is positively related with the benchmark price of renewable power projects,which indicates that the fluctuation of carbon price increases the option value of an investment but postpones the time of investment.As the China's carbon trading system improves gradually,the carbon price will reach a stable status,thus stimulate the power companies to invest in the renewable projects.
基金the National Fund Project No.62172337National Natural Science Foundation of China(No.61662069)China Postdoctoral Science Foundation(No.2017M610817).
文摘The carbon tradingmarket can promote“carbon peaking”and“carbon neutrality”at low cost,but carbon emission quotas face attacks such as data forgery,tampering,counterfeiting,and replay in the electricity trading market.Certificateless signatures are a new cryptographic technology that can address traditional cryptography’s general essential certificate requirements and avoid the problem of crucial escrowbased on identity cryptography.However,most certificateless signatures still suffer fromvarious security flaws.We present a secure and efficient certificateless signing scheme by examining the security of existing certificateless signature schemes.To ensure the integrity and verifiability of electricity carbon quota trading,we propose an electricity carbon quota trading scheme based on a certificateless signature and blockchain.Our scheme utilizes certificateless signatures to ensure the validity and nonrepudiation of transactions and adopts blockchain technology to achieve immutability and traceability in electricity carbon quota transactions.In addition,validating electricity carbon quota transactions does not require time-consuming bilinear pairing operations.The results of the analysis indicate that our scheme meets existential unforgeability under adaptive selective message attacks,offers conditional identity privacy protection,resists replay attacks,and demonstrates high computing and communication performance.
基金supported financially by InnerMongoliaKey Lab of Electrical Power Conversion,Transmission,and Control under Grant IMEECTC2022001the S&TMajor Project of Inner Mongolia Autonomous Region in China(2021ZD0040).
文摘Given the“double carbon”objective and the drive toward low-carbon power,investigating the integration and interaction within the carbon-electricity market can enhance renewable energy utilization and facilitate energy conservation and emission reduction endeavors.However,further research is necessary to explore operational optimization methods for establishing a regional energy system using Power-to-Hydrogen(P2H)technology,focusing on participating in combined carbon-electricity market transactions.This study introduces an innovative Electro-Hydrogen Regional Energy System(EHRES)in this context.This system integrates renewable energy sources,a P2H system,cogeneration units,and energy storage devices.The core purpose of this integration is to optimize renewable energy utilization and minimize carbon emissions.This study aims to formulate an optimal operational strategy for EHRES,enabling its dynamic engagement in carbon-electricity market transactions.The initial phase entails establishing the technological framework of the electricity-hydrogen coupling system integrated with P2H.Subsequently,an analysis is conducted to examine the operational mode of EHRES as it participates in carbon-electricity market transactions.Additionally,the system scheduling model includes a stepped carbon trading price mechanism,considering the combined heat and power generation characteristics of the Hydrogen Fuel Cell(HFC).This facilitates the establishment of an optimal operational model for EHRES,aiming to minimize the overall operating cost.The simulation example illustrates that the coordinated operation of EHRES in carbon-electricity market transactions holds the potential to improve renewable energy utilization and reduce the overall system cost.This result carries significant implications for attaining advantages in both low-carbon and economic aspects.
基金supported by Liaoning Provincial Doctoral Research Initiation Fund Project(2022-BS-225)Liaoning Provincial Department of Education Scientific Research Project(LJKZ1091).
文摘A robust scheduling optimization method for wind–fire storage system distribution based on the mixed carbon trading mechanism is proposed to improve the rationality of carbon emission quota allocation while reducing the instability of large-scale wind power access systems.A hybrid carbon trading mechanism that combines shortterm and long-term carbon trading is constructed,and a fuzzy set based onWasserstein measurement is proposed to address the uncertainty of wind power access.Moreover,a robust scheduling optimization method for wind–fire storage systems is formed.Results of the multi scenario comparative analysis of practical cases show that the proposed method can deal with the uncertainty of large-scale wind power access and can effectively reduce operating costs and carbon emissions.
基金supported by the National Natural Science Foundation of China (U2166211).
文摘As an integrated carrier of energy production,transmission,distribution,conversion,storage,and utilization,multiple energy systems(MESs)have significant low-carbon potential.This paper proposes a hierarchical distributed dispatch model of MESs considering carbon trading,which is composed of the lower autonomous operation level of each MES and the upper coordinated control level.Different carbon emission sources are considered,including combined heat and power(CHP)units,gas boilers,and power to gas(P2G)devices.The transactive control(TC)mechanism is used to solve the model by introducing a virtual price signal.In the case study based on a 3-MES system,the effectiveness of the proposed distributed method is proved by comparison with a centralized algorithm.Meanwhile,the impacts of different carbon prices on MESs with different resource endowments are analyzed from the aspects of scheduling results,carbon emissions,clean energy consumption rate,and comprehensive operating costs.
基金supported by The Hong Kong University of Science and Technology(Guangzhou)startup grant(G0101000059)supported by Regional joint fund youth fund project(P00038-1002)+2 种基金Basic and Applied Basic Research Project-Guangzhou 2023(P00121-1003)HKUST(GZ)-enterprise cooperation project(R00017-2001)This work was also supported in part by the Project of Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone(HZQB-KCZYB-2020083).
文摘Climate change and energy shortage crisis promptly necessitate achievement of sustainable development goals.However,there is no straightforward pathways for low-carbon transformation on building sectors,and energy/carbon trading and reverse promotion on decarbonization strategies are not clear.In this study,a literature enumeration method with dialectical analysis was adopted for state-of-the-art literature review and comparison.Low-carbon transformation pathways in buildings were holistically reviewed,with a series of integrated techniques,such as energy saving,clean energy supply,flexible demand response for high self-consumption,and even smart electric vehicle(EV)integration.Afterwards,energy/carbon flows and trading in building-related systems were provided,such as peer-to-peer energy trading,building and thermal/power grids,building and energyintegrated EVs,and carbon trading in buildings.Last but not the least,worldwide decarbonization roadmaps across regions and countries are analysed,to identify the most critical aspects and immediate actions on decarbonization.Results indicate that tradeoff strategies are required to compromise the confliction between insufficient feed-in tariff(FiT)incentives(low renewable penetration in the market)and great economic pressures(high investment in renewable systems).Low-carbon building pathway is further enhanced with first priority given to passive/active energy-saving strategies,onsite clean energy supply and then flexible demand response.Energy/carbon trading will significantly affect renewable energy utilization,and acceptance from end-users to actively install renewable systems or participate in EV interactions.Worldwide decarbonization pathways mainly focus on industries,transportation,buildings,renewable sources,carbon sink and carbon capture,utilization and storage(CCUS).This study can contribute to technical roadmaps and strategies on carbon neutrality transition in both academia and industry,together with advanced policies in grid feed-in tariff,energy/carbon trading and business models worldwide.
基金supports from the National Natural Science Foundation of China(under Grants No.72073105,71903002,and 71774122)the Natural Science Foundation of Anhui Province,China(under Grant No.1908085QG309)are greatly acknowledged.
文摘This study reveals the inconsistencies between the negative externalities of carbon emissions and the recognition condition of accounting statements.Hence,the study identifies that heavily polluting enterprises in China have severe off-balance sheet carbon reduction risks before implementing the carbon emission trading system(CETS).Through the staggered difference-in-difference(DID)model and the propen-sity score matching-DID model,the impact of CETS on reducing the risk of stock price crashes is examined using data from China’s A-share heavily polluting listed companies from 2007 to 2019.The results of this study are as follows:(1)CETS can significantly reduce the risk of stock price crashes for heavily polluting companies in the pilot areas.Specifically,CETS reduces the skewness(negative conditional skewness)and down-to-up volatility of the firm-specific weekly returns by 8.7%and 7.6%,respectively.(2)Heterogeneity analysis further shows that the impacts of CETS on the risk of stock price crashes are more significant for heavily polluting enterprises with the bear market condition,short-sighted management,and intensive air pollution.(3)Mechanism tests show that CETS can reduce analysts’coverage of heavy polluters,reducing the risk of stock price crashes.This study reveals the role of CETS from the stock price crash risk perspective and helps to clarify the relationship between climatic risk and corporate financial risk.
基金supported by the National Social Science Fund of China(Grant No.19CJY046)。
文摘Carbon emission trading pilot policies were launched in seven provinces and cities,including Beijing,Shanghai,Tianjin and Chongqing in 2013.Carbon emission trading is of great significance to the development of green economy.Taking China’s carbon emission trading pilot as a natural experiment,the dual difference method was used to explore the carbon emission reduction effect of the pilot carbon emission trading policy on the pilot areas in China based on the panel data of 30 provinces,autonomous regions and municipalities in China from 2000 to 2019.Propensity score matching,parallel trend test and placebo test were conducted to improve the robustness of the empirical results.It is found that carbon emission trading pilot policies significantly promote carbon emission reduction in pilot areas compared with non-pilot areas.This conclusion from the benchmark regression passed the robustness test,and the carbon reduction effect showed an increasing trend year by year.With the mediation effect test,the carbon emission reduction mechanism of the pilot policy was studied.The results show that the carbon trading pilot policy reduces the carbon dioxide emission in the pilot area by promoting the upgrading of industrial structure and technological progress.
基金This work was supported in part by the Smart Grid Joint Foundation Program of the National Natural Science Foundation of China and the State Grid Corporation of China(U1866204)in part by the National Natural Science Foundation of China(51907064)and in part by the State Grid Corporation of China(Application Research and Trading Mechanism of Green Electricity Market toward Sustainable Energy Accommodation,52020119000G).
文摘The increasing penetration of plug-in electric ve- hicles (PEVs) has highlighted the importance of coordinating ubiquitous distributed energy resources (DERs) via the internet of things (IoT).With the help of vehicle-to-grid (V2G) technology, PEVs can be aggregated to behave as a storage system, yielding both economic and environmental benefits. In this paper, we propose an optimal bidding framework for a V2G-enabled re- gional energy internet (REI) to participate in day-ahead markets considering carbon trading. The REI operator aims to maximize the net profits from day-ahead markets while anticipating real- time adjustments. A detailed battery model is developed to depict the charging and discharging capability of V2G-enabled PEVs. A two-stage stochastic optimization model is formulated to schedule the operation of PEV fleets against various sources of uncertainties, e.g., the arrival and departure time of PEVs, solar power and real-time prices. Case studies undertaken based on realistic datasets demonstrate that the coordination of the V2G- enabled PEVs and other DERs can facilitate the accommodation of renewable energy, thus improving the REI’s revenues in energy and carbon markets.
基金National Natural Science Foundation of China,Grant/Award Number:51677059。
文摘Introducing carbon trading into electricity market can convert carbon dioxide into schedulable resources with economic value.However,the randomness of wind power generation puts forward higher requirements for electricity market transactions.Therefore,the carbon trading market is introduced into the wind power market,and a new form of low-carbon economic dispatch model is developed.First,the economic dispatch goal of wind power is be considered.It is projected to save money and reduce the cost of power generation for the system.The model includes risk operating costs to account for the impact of wind power output variability on the system,as well as wind farm negative efficiency operating costs to account for the loss caused by wind abandonment.The model also employs carbon trading market metrics to achieve the goal of lowering system carbon emissions,and analyze the impact of different carbon trading prices on the system.A low-carbon economic dispatch model for the wind power market is implemented based on the following two goals.Finally,the solution is optimised using the Ant-lion optimisation method,which combines Levi's flight mechanism and golden sine.The proposed model and algorithm's rationality is proven through the use of cases.
基金A Major Bidding Project of National Social Science Fund“The Interconnection and Interoperability Strategy Research of Power between China and Neighboring Countries”(13&ZD168)China’s Postdoctoral Science Fund“Duality of Energy and Potential Effectiveness of China’s Carbon Emissions Trading”(2016T90166).The authors are grateful for the support of 333-research funding and the green blue project-training program in Jiangsu.
文摘Taking provincial panel data of China as the sample,this paper simulates and analyzes the potential effect of carbon emissions trading in China under the condition of unconstrained and constrained respectively.The results are as follows.(1)As the theoretical basis of carbon trading,the shadow price of carbon dioxide is inclined to rise generally.The absolute gap among provinces and that among eight regions tend to expand,but the relative gap tends to narrow.(2)With the reduction of national carbon intensity to the greatest degree as the aim,carbon trading could reduce the carbon intensity by 20.06%under the condition of given national GDP.If the strict constraint of national GDP is relaxed,and the constraint of economic growth and environment conservation of each region is imposed,carbon trading could reduce the carbon intensity by 22.20%.(3)The current overall promotion process of carbon intensity in China has achieved the phased goal of the Copenhagen Conference commitment.The interprovincial carbon trading could strongly boost the improvement of carbon intensity,and the general requirements of Copenhagen Conference could be satisfied.
基金financially supported by the National Natural Sciences Foundation of China(NSFC-71672009.71972011).
文摘The international community has taken extensive actions to achieve carbon neutrality and sustainable development with the intensification of global warming and climate change.China has also carried out a long-term layout,setting the goal of achieving a carbon peak by 2030 and carbon neutrality by 2060.In 2021,with the official launch of a unified national carbon emissions trading market,China’s nationwide carbon emissions trading kicked off.Carbon emission trading is an important policy tool for China’s carbon peak and carbon-neutral action and an essential part of the country’s promotion of a comprehensive green transformation of the economy and society.This study uses a VAR(Vector Autoregressive)model to analyze the influencing factors of the Beijing carbon emissions trading price from January 2014 to December 2019.The study found that coal prices have the most significant impact on Beijing’s carbon emissions trading prices.Oil prices,industrial development indexes,and AQI(Air Quality Index)impacted Beijing’s carbon emissions trading prices.In contrast,natural gas prices and economic indexes have the most negligible impact.These findings will help decision-makers determine a reasonable price for carbon emissions trading and contribute to the market’s healthy development.
基金Financial supports from the National Natural Science Foundation of China(No.7197412472192833)the Institute of Eco-Chongming are greatly appreciated.
文摘After a decade of planning and trials,China officially launched a national carbon trading in July 2021.Using a standard economic model,this study shows that an unconstrained carbon trading market would face a dilemma between minimizing pollution control costs and maximizing social benefits.We further show that this would be a significant challenge in China.Our results show that areas with higher population densities also would have higher costs for carbon reduction,and hence the polluters in those areas would be net buyers in the national market.Moreover,our analysis indicates a significantly high correlation between carbon dioxide emissions and other local pollutants.Therefore,cross-regional transactions may result in more emission of other pollutants in areas with higher population density under the unconstrained national cap-and-trade system and cause larger losses in social benefits.We call for more studies to address the issue.
