Low Carbon Beijing:Research on the Influencing Factors of Carbon Emission Trading Price

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.