市场混乱 中国百亿碳汇市场缩水

Google Translation Version:

July 10, G8 summit ended, an annual trade volume of more than 60,000,000,000 U.S. dollars of the market increasingly clear carbon sink. July 19, "emission reduction projects in Shanxi Luliang energy trading services center" and officially started trial operation, which means that energy-saving emissions trading market in the establishment.

"Kyoto Protocol" stipulates that as of 2012 is the year the first commitment period of 5 years, the first year. China will become a major carbon sink market position. However, the reporter found that due to the related policy is not an exact match, the broker secret operations, information asymmetries and other reasons, to allow Chinese companies to sell carbon sinks the price of low carbon sinks billions of dollars China is the market has shrunk dramatically. China sitting on billions of dollars of China's carbon market transactions and foreign exchange markets have reached first in the world. The latest

United Nations statistics show that in the CDM (CDM) projects, India, China and Brazil-led occupying forces, of which India accounted for the total number of projects registered 32%, 19% China, Brazil accounted for 13%. However, the amount of emission reduction, with China accounting for 53% of the advantages far ahead. United Nations Environment Program resident representative in China, said Zhang Gang, the popular international capital to China's carbon sinks market provided assistance. China's emissions have gone far beyond the effectiveness of India in the International Convention on the mechanism for trading carbon sinks under many of the funds will be step by step into China.

According to the "Kyoto Protocol" provides that in the 2008-2012 period, the major industrialized countries of greenhouse gas emissions in 1990 on the basis of an average reduction of 52%. According to the United Nations and the World Bank predicted that the global carbon trading exchange in 2008 ~ 2012, the annual market size of up to 60,000,000,000 U.S. dollars, in 2012 the global carbon market transactions for 150,000,000,000 U.S. dollars. Rush of funds into the market, even though carbon sinks "Kyoto Protocol" was signed in 2005, but markets carbon sinks has been fiery, such as Chennai. Britain Beijing representative office of New Energy Finance chief should be introduced Chun told reporters that the new British Energy Finance as this not only an important business, and even has set up a special carbon sink trading analyst, analysis of the market price of carbon Change. In addition, a number of environmental organizations, NGO has also started to promote, facilitate trading carbon sinks.

A veteran of the industry such as trading of carbon sink, "carbon sinks market is a market first, further, it is a character in the middle of the market." It is reported that according to existing regulations, developing countries can not be directly Quota to sell to Western markets, these companies sell the amount of emission reduction by a number of international carbon funds and companies, or through intermediaries such as the World Bank in order to participate in the international market. This led to large and small, domestic and international consulting, intermediary companies, mostly directed at the market from trading carbon sinks. Due to the short history of markets carbon sinks, of the country, industry, many companies, many of the industry that this market will always mention one word - "chaos." However, according to seize market opportunities which will be of greater benefit theory, to enter the industry, funds can only be described as falling over one another. Black-box operation in the middle double the price of carbon emissions market is the biggest obstacle to black-box operation, the final price and a far cry from the international market price.

A foreign agency offices in China CDM project leader in private that, in direct foreign exchange trading carbon price higher than the domestic prices of 50% to 100%. In fact, the price of carbon trading is a very complex issue. CDM output of CERs (certified emission can reduce the volume) is not only the outcry trading, selling such a simple process. CDM projects need to complete a complex cycle, including the cycle of the seven basic steps are: the design and description of the project, the state approved the registration review, project financing, monitoring, verification / certification, issued by the CER.

AES China climate strategy director Chen Zhi Yang said that the AES Corporation in China in 2006 to start the establishment of carbon sinks business transactions. Is different from other brokers, AES shares through the main carriers of the way carbon trading exchange. "Such as wind power, often, carbon trading exchange earnings to account for the entire earnings of 10% to 20%." Chen Yang-sik told reporters that carbon sinks will be based on an annual transaction volume of Internet computing power, the local power grid according to the local thermal power per unit of electricity Fuel carbon dioxide emissions would amount to accounting. Chen Zhi Yang said the company currently has two carbon sink prices is not a guarantee of price and the other is guaranteed prices. "At present, the highest price of 13 euros / tonne, while secured to sell the price of 20 euros / tonne." Carbon market transactions more transparent listing? In the face of Chinese enterprises in trading, carbon sinks in a weak position, a lot of people think that the establishment of carbon exchange will help to improve the transparency of the market. "

If you go to the Finance Street, we will notice that there are several exchanges to build the company." Zhang steel in the "Daily News" said, "carbon sinks Beijing's trading center is set up very quickly things have been A lot to do in this area of business exchanges is a positive action. "

Beijing Equity Exchange Xiong Yan, president of a number of occasions that the North will be paid by the relevant departments and the establishment of the Beijing environmental rights and interests of the Stock Exchange and will set up a national environmental rights and interests of the trading platform. Jun should be said that the carbon sink trading center will allow the establishment of carbon sinks transactions transparent and to increase trading liquidity. In his view, China needs a number of such exchanges. Jun should be on the carbon exchange business model is very interested in what will be the same as the stock exchange, as a market-oriented markets, the Exchange will be able to sell, or as a secondary market, has been a certain amount of risk. Jun should be said that the market should be a secondary market have. Many in the industry have such enforcement point of view. Jun should be more worried about carbon exchange set up in 2012 will affect the post-Kyoto agreement signed.

Original Content:

7月10日，G8峰会落幕，一个每年交易额超过600亿美元的碳汇市场日渐清晰。 7月19日，“山西吕梁节能减排项目交易服务中心”正式启动并试运行，这意味着节能减排市场化交易方式在国内建立。

《京都议定书》规定，今年是截至2012年第一个5年承诺期的开局之年。中国将成为碳汇市场的主要阵地。然而，记者调查发现，由于相关配套政策还不完全匹配、中间商的暗箱操作、信息的不对称等原因，让中国企业出售碳汇的价格偏低，中国百亿美元碳汇市场正大幅缩水。中国坐拥百亿美元市场 中国的碳汇市场交易额已经达到了世界第一位。联合国最新统计数据表明，在CDM（清洁发展机制）项目中，印度、中国和巴西占据了主导力量，其中印度占注册项目总数的32%，中国占19%，巴西占13%。然而就减排额而言，中国以占53%的优势遥遥领先。

联合国环境规划署驻华代表张世钢表示，国际资金的青睐对中国的碳汇市场交易提供了助力。中国产生的减排效益远远超出了印度，在国际公约的机制下许多碳汇交易资金将会逐步涌向中国。

据《京都议定书》规定，在2008年至2012年期间，主要工业发达国家的温室气体排放量要在1990年的基础上平均减少52%。据联合国和世界银行预测，全球碳汇交易于2008～2012年间，市场规模每年可达600亿美元，2012年全球碳汇交易市场容量为1500亿美元。资金蜂拥进入碳汇市场 尽管《京都议定书》的签订是2005年的事，但碳汇市场的交易却已经如火如奈。英国新能源财经北京代表处首席代表应俊介绍告诉记者，英国新能源财经不仅将这作为一项重要业务，甚至于还设立了专门的碳汇交易分析员，分析碳汇市场的价格涨跌。此外，不少环保组织、NGO也开始推动、促成碳汇交易。

一位业内资深人士这样对碳汇交易定性，“碳汇交易市场首先是一个市场，更进一步来说，它是一个具有中间性质的市场。”据介绍，按现行规定，发展中国家不能直接将配额出售到西方市场，这些企业卖出的减排额主要由一些国际碳基金和公司，或通过世界银行等中间机构参与后才能进入国际市场。由此衍生出大大小小的国内外咨询、中介公司，大多冲着碳汇交易市场而来。 由于碳汇市场历史短，涉及的国家、行业、公司众多，因此，不少业内人士说到这块市场总会提到一个字――“乱”。但根据哪个抢占市场先机将会获得更大收益的理论，进入这个行业的公司、资金只能用蜂拥来形容。暗箱操作 中间差价翻倍 碳排放市场最大障碍是暗箱操作，最终的成交价格与国际市场价格相去甚远。

一国外机构驻华办事处CDM项目负责人私下透露，在国外碳交易所直接交易的价格比国内价格高出50%～100%。 事实上，碳市交易价格是一个非常复杂的问题。CDM产出的CERs（可核证的排放削减量）买卖并非仅仅是喊价、叫卖这样一个简单的过程。CDM项目的完成需要一个复杂的周期，这个周期包括七个基本步骤，分别是：项目设计和描述，国家批准，审查登记，项目融资，监测，核实／认证，签发CER。

爱依斯中国气候策略总监陈植扬表示，爱依斯中国公司于2006年开始建立碳汇交易业务。与其他中间商有所不同的是，爱依斯主要通过参股运营的方式进行碳汇交易。 “如风电，通常，碳汇交易的收益能占到整个收益的10%~20%。”陈植扬告诉记者，碳汇交易额将根据每年上网的电量计算，当地电网根据当地火力发电每度电所用燃料会排放的二氧化碳量来核算。陈植扬称，目前公司有两个碳汇价格，一个是没有担保的价格，另一个是有担保的价格。“目前国内最高价格为13欧元/吨，而有担保的价格能卖到20欧元/吨。”碳汇交易市场挂牌交易趋透明？ 面对中国企业在碳汇交易方面处于弱势地位，不少人认为国内建立碳交易所有助于提高这个市场的透明度。

“如果到金融街去走一下，就会发现有几家筹建交易所的公司。”张世钢在接受《每日经济新闻》采访时表示，“北京碳汇交易中心的成立是很快的事情，已经有很多做这方面交易所业务的公司正在积极行动。”

北京产权交易所总裁熊焰在多个场合表示，北交所将与相关部门合作成立北京环境权益交易所，并将以此搭建全国性的环境权益交易平台。 应俊表示，碳汇交易中心的建立将会让碳汇交易透明化，并增加交易的流动性。他认为，中国需要多家这类交易所。应俊对碳交易所的运营模式非常感兴趣，究竟会不会像证券交易所一样，是作为一级市场化的市场，到交易所就能卖，还是作为二级市场，已有一定的风险了。应俊表示，应该一级市场二级市场都有。不少业内人士也执此类观点。 应俊也比较担心碳交易所的成立会影响2012年后京都协议的签定。