The Analysis of Carbon Trade Economics and Its Policy Implication to Mitigate Climate Change in Tanzania

Tanzania is participating in the United Nations (UN) climate change mitigation strategy of reduction in Greenhouse Gases (GHGs). The strategy is implemented through both Reducing Emissions from Deforestation and forest Degradation (REDD+) and Clean Development Mechanisms (CDM) initiatives. In implementing programmes, the country developed pilot projects whereby there are preliminary findings that can be used to analyse the progress of the establishments. This study uses the findings from these pilot areas to draw policy implications on how carbon trade in the country can be enhanced to meet the UN set objectives as required by the Kyoto protocol. The findings suggest that for the sustainable carbon trade enhancement the country needs to set the institutional environment for carbon trade right. Such undertakings are not costless and that the transaction costs that would be incurred for the process need to be institutionalised to reduce the private costs in the carbon market. Moreover the policy process should be informed that at the market level there are multiple objectives that should be understood to avoid what is termed as optimization in standard economic theory, instead there should be clear definition of the specific objectives for various stakeholders involved in the carbon trade. Besides, within the carbon market framework not all stakeholders incur the same costs since natural resource transactions involve externalities. These externalities need to be identified and internalised to equally distribute the costs and benefits among the stakeholders.

Optimization of biofuel supply chain integrated with petroleum refineries under carbon trade policy

The use of fossil fuels results in significant carbon dioxide emissions.Biofuels have been increasingly adopted as sustainable alternatives to fossil fuel to address this environmental issue.Integrating petroleum refineries into biofuel supply chains is an effective approach to mitigating greenhouse gas emissions and improving environmental sustainability.In this study,an integrated supply chain optimization framework was established,considering the carbon trade policy.In addition,a mixed-integer nonlinear programming model was developed to optimize the selection of biomass suppliers,construction of pretreatment plants and biorefineries,integration of petroleum refineries,and selection of transportation routes with the objective of minimizing the total annual cost.An example is presented to illustrate the applicability of the model.The optimization results show that integrating petroleum refineries into biofuel supply chains effectively mitigates carbon emissions.Carbon trade policies can have a direct impact on the total annual cost and carbon emissions of the supply chain.

Electricity Carbon Quota Trading Scheme based on Certificateless Signature and Blockchain

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.

Optimal Operation Strategy of Electricity-Hydrogen Regional Energy System under Carbon-Electricity Market Trading

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.

Progress, challenge and significance of building a carbon industry system in the context of carbon neutrality strategy

Carbon dioxide storage and utilization has become an inevitable trend and choice for sustainable development under the background of global climate change and carbon neutrality.Carbon industry which is dominated by CO_(2) capture,utilization and storage/CO_(2) capture and storage(CCUS/CCS)is becoming a new strategic industry under the goal of carbon neutrality.The sustainable development of carbon industry needs to learn from the experiences of global oil and gas industry development.There are three types of“carbon”in the earth system.Black carbon is the CO_(2) that has not been sequestered or used and remains in the atmosphere for a long time;grey carbon is the CO_(2) that has been fixed or permanently sequestered in the geological body,and blue carbon is the CO_(2) that could be converted into products for human use through biological,physical,chemical and other ways.The carbon industry system covers carbon generation,carbon capture,carbon transportation,carbon utilization,carbon sequestration,carbon products,carbon finance,and other businesses.It is a revolutionary industrial field to completely eliminate“black carbon”.The development of carbon industry technical system takes carbon emission reduction,zero carbon,negative carbon and carbon economy as the connotation,and the construction of a low-cost and energy-efficient carbon industry system based on CCUS/CCS are strategic measures to achieve the goal of carbon neutrality and clean energy utilization globally.This will promote the“four 80%s”transformation of China's energy supply,namely,to 2060,the percentage of zero-carbon new energy in the energy consumption will be over 80%and the CO_(2) emission will be decreased by 80%to ensure the carbon emission reduction of total 80×10^(8) t from the percentage of carbon-based fossil energy in the energy consumption of over 80%,and the percentage of CO_(2) emission from energy of over 80%in 2021.The carbon industry in China is facing three challenges,large CO_(2) emissions,high percentage of coal in energy consumption,and poor innovative system.Three strategic measures are proposed accordingly,including:(1)unswervingly develop carbon industrial system and ensure the achievement of carbon neutrality as scheduled by 2060;(2)vigorously develop new energy sources and promote a revolutionary transformation of China’s energy production and consumption structure;(3)accelerate the establishment of scientific and technological innovation system of the whole CO_(2) industry.It is of great significance for continuously optimization of ecological environment and construction of green earth and ecological earth to develop the carbon industry system,utilize clean energy,and achieve the strategic goal of global carbon neutrality.

A Case Study of Forest Carbon Trade in China:Sino-Forest Funded Protection of Natural Secondary Forests in Heyuan City,Guangdong

Climate change has posed a great risk and treats to global environment.To address the problem,international community resorts to carbon emission reduction,and many countries have implemented afforestation and reforestation project under Clean Development Mechanism.China started the research and has done a great load of works on forest carbon trade as early as the year of 2002 to contribute to the carbon emission reduction.This paper introduces the implementation of forest carbon trade in Heyuan City,Guan...

Survey on the Policy Evolution of the International Marine Carbon Sink and Carbon Trading Market

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.

Survey on the Policy Evolution of China s Marine Carbon Sink and Carbon Trading Market

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.

International trade,carbon leakage,and CO_2 emissions of manufacturing industry

Foreign trade drives China's growth,but as the trade scale continues to expand,the carbon emissions also increase quickly.Based on the industry panel data from 1996 to 2010,this paper calculates carbon emissions of 27manufacturing industries.According to the intensity of carbon emissions,this paper divides the manufacturing sectors into low carbon and high carbon manufacturing industry and then analyzes the carbon emission trends.Next,the paper uses the feasible generalized least square regression to verify the existence of environmental Kuznets curve(EKC)of the manufacturing industry's carbon.In order to investigate the carbon leakage problem,the regression also includes the interaction term between trade and industrial value added.Our findings are as follows:the carbon emissions of the whole manufacturing industry and low carbon manufacturing industry accord with the EKC curve,but have a linear relationship with the high carbon manufacturing industry;trade reduces the carbon emissions of the whole manufacturing industry and low carbon manufacturing industry,but it increases those of the high carbon manufacturing industry;for the whole manufacturing industry and low carbon manufacturing industry,there is no carbon leakage,but it exists in the high carbon manufacturing industry.On the whole,pollution haven hypothesis does not hold up in China,and China does not need to limit industry foreign trade to reduce the emission of CO_2.But the manufacturing industry will still be the main engine of the economic growth,and therefore our country should make an effective low-carbon policy,introduce advanced technology,increase R&D investment into lowcarbon technologies,and upgrade and transform the original equipment to change the backward mode of production.

Perspective of Chinese Forest Carbon Absorption Trade Based on Low-Carbon Economy

The paper analyzes the basis of forest carbon trade including the feasibility of carbon absorption trade,main body,platform and standard.The purposes of capital of carbon absorption trade is introduced.Caron absorption trade capital can be used to resettle ecological migrants,absorb employment,build forest and increase fund,increase local income,enhance forest science and technology development and launch environmental proportion.The perspective of developing forest carbon absorption trade is pointed out and the practical problems of developing forest carbon trade need to be solved.For example,the property problem of forest resources,value calculation problem of forest resources and sustainable development of forest.

A low-carbon economic dispatch model for electricity market with wind power based on improved ant-lion optimisation algorithm

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.

低碳矿区综合能源系统经济运行优化研究

针对煤矿开采过程中碳排放量高以及乏风、瓦斯、矿井涌水等伴生能源得不到及时有效利用的问题,提出一种低碳经济运行的矿区综合能源系统(coal mine integrated energy system, CMIES)。首先,为使矿区伴生能源得到充分利用,搭建了一个包含燃气轮机、乏风氧化发电单元、水源热泵等设备的CMIES模型。其次,为降低矿区碳排放量,在CMIES中加入光伏、风电、电转气与氢燃料电池等设备。同时,引入阶梯式碳交易机制与绿色证书交易机制(green certificate trading, GCT),通过“双机制”模型来约束系统碳排放、激励新能源设备出力。最后,调用CPLEX商业求解器,以购能成本、新能源设备运行成本、碳排放成本最小为目标函数进行求解。结果表明:优化后的CMIES碳排放量显著降低,运行成本大幅减少。

零碳园区研究综述及展望

园区作为国民生产、生活的重要载体,提供了大量的能源生产活动和基础服务设施,同时也成为碳排放的重要源头。园区物理界限分明,生态系统独立,运营管理权明晰,使得园区成为践行碳中和的天然试验田。首先,介绍零碳园区的典型构成,并对其净零碳能力进行分析;其次,从物理层、信息层、平台层、应用层4个层面分析零碳园区发展形态,提出园区零碳操作系统的架构;然后,对零碳园区的关键技术进行分析,从园区碳排放核算技术、园区低碳经济体系、园区低碳管控技术3个方面对零碳园区的研究现状进行总结,同时分析现有研究的不足和未来研究方向;最后,提出零碳园区研究的挑战与展望。

基于季节性碳交易机制的园区综合能源系统低碳经济调度

为有效提高碳排放配额分配的合理性,并且避免年度结算时碳排放量超标导致环境污染加剧问题,提出基于奖惩因子的季节性碳交易机制,以园区综合能源系统(park integrated energy system,PIES)为对象进行低碳经济调度。首先,构建包含能量层–碳流层–管理层的综合能源系统(integrated energy system,IES)运行框架,建立电气热多能流供需动态一致性模型;其次,分析系统内“日–季节–年度”碳排放特性,打破传统应用指标法的配额分配方法,采用灰色关联分析法建立碳排放配额分配模型,并基于奖惩阶梯碳价制定季节性碳交易机制;最后,以系统内全寿命周期运行成本及碳交易成本最小为目标,对执行季节性碳交易机制的PIES进行低碳经济调度,分析长时间尺度下季节性储能参与调度的减碳量。搭建IEEE 33节点电网5节点气网7节点热网的PIES,并基于多场景进行算例分析,验证此调度方法能够实现零碳经济运行,保证系统供能可靠性,为建立零碳园区奠定理论基础。

Two-Stage Low-Carbon Economic Dispatch of Integrated Demand Response-Enabled Integrated Energy System with Ladder-Type Carbon Trading

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.

Daily rolling estimation of carbon emission cost of coal-fired units considering long-cycle interactive operation simulation of carbon-electricity market

The high overlap of participants in the carbon emissions trading and electricity markets couples the operations of the two markets.The carbon emission cost(CEC)of coal-fired units becomes part of the power generation cost through market coupling.The accuracy of CEC calculation affects the clearing capacity of coal-fired units in the electric power market.Study of carbon–electricity market interaction and CEC calculations is still in its initial stages.This study analyzes the impact of carbon emissions trading and compliance on the operation of the electric power market and defines the cost transmission mode between the carbon emissions trading and electric power markets.A long-period interactive operation simulation mechanism for the carbon–electricity market is established,and operation and trading models of the carbon emissions trading market and electric power market are established.A daily rolling estimation method for the CEC of coal-fired units is proposed,along with the CEC per unit electric quantity of the coal-fired units.The feasibility and effectiveness of the proposed method are verified through an example simulation,and the factors influencing the CEC are analyzed.

Carbon Price Forecasting Approach Based on Multi-Scale Decomposition and Transfer Learning

Accurate carbon price forecasting is essential to provide the guidance for production and investment.Current research is mainly dependent on plenty of historical samples of carbon prices,which is impractical for the newly launched carbon market due to its short history.Based on the idea of transfer learning,this paper proposes a novel price forecasting model,which utilizes the correlation between the new and mature markets.The model is firstly pretrained on large data of mature market by gated recurrent unit algorithm,and then fine-tuned by the target market samples.An integral framework,including complexity decomposition method for data pre-processing,sample entropy for feature selection,and support vector regression for result post-processing,is provided.In the empirical analysis of new Chinese market,the root mean square error,mean absolute error,mean absolute percentage error,and determination coefficient of the model are 0.529,0.476,0.717%and 0.501 respectively,proving its validity.

含碳捕集电厂与氢能多元利用的综合能源系统低碳经济调度

随着中国“碳达峰·碳中和”战略的不断推进,综合能源系统的绿色低碳转型迫在眉睫。针对传统碳捕集电厂灵活性较差、风电并网难以消纳等问题,提出一种含碳捕集电厂与氢能多元利用的综合能源系统低碳经济调度模型。首先,引入储液罐对传统碳捕集电厂进行改造,提高电厂应对风电波动的运行灵活性;其次,构建含两段式电转气、氢燃料电池、储氢罐和掺氢热电联产在内的氢能多元利用结构,以充分挖掘氢能利用与碳捕集电厂的协同运行潜力。在此基础上,引入阶梯碳交易机制,建立以碳交易、碳封存、燃煤及购气成本之和最小为优化目标的低碳经济调度模型。算例结果表明,文中模型能够有效提高系统的风电消纳水平和能源利用效率,具有显著的低碳经济效益。此外,碳交易基准价格的合理设定能够引导系统提高碳捕集水平。

Carbon emission trading system and stock price crash risk of heavily polluting listed companies in China:based on analyst coverage mechanism

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.