The economic impacts of introducing auction into carbon allowance allocation mechanism in the national carbon market: Simulation based on CGE model
ZHANG Ning1, PANG Jun1, FENG Xiang-zhao2
1. School of Environment and Natural Resources, Renmin University of China, Beijing 100872, China; 2. Policy Research Center for Environment and Economy, Ministry of Ecology and Environment, Beijing 100029, China
Abstract:Differentiated policy scenarios based on the CGE model features an electricity sector subdivision designed in this paper, to address the introduction of the quota auction, whether the carbon tax should be implemented, and the setting of carbon emission reduction targets. On this basis, the impacts of different designs on carbon market and macroeconomic performance analyzed this paper. Results showed that the introduction of quota auction mechanism could help to decrease carbon price, enlarge the carbon market scale, and spur the vitality of the carbon market. In addition, carbon intensive industries were the principal participants in the auction market; and the auction mechanism could restrain the development of industries covered by national carbon market, especially thermal power industry, and promote electricity outputs of the clean power industries. However, compared to the totally free allocation of carbon allowances, the introduction of quota auction mechanism impacted the GDP growth more negatively. Levying carbon tax on industries outside the carbon market could further reduce the carbon price, increase the trading volume of carbon allowance, mitigate the negative impacts on the GDP growth, and increase government revenues. China should introduce the quota auction mechanism into the national carbon market in due course and implement carbon tax as a complementary measure. The proportion of carbon allowance allocated by auction needs to be gradually increased based on the consideration of the effectiveness of carbon market and economic affordability.
张宁, 庞军, 冯相昭. 全国碳市场引入配额拍卖机制的经济影响——基于CGE模型的分析[J]. 中国环境科学, 2022, 42(4): 1901-1911.
ZHANG Ning, PANG Jun, FENG Xiang-zhao. The economic impacts of introducing auction into carbon allowance allocation mechanism in the national carbon market: Simulation based on CGE model. CHINA ENVIRONMENTAL SCIENCECE, 2022, 42(4): 1901-1911.
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