低碳经济下黄金行业的发展战略研究

随着各国政府纷纷采取不同的政策措施来发展低碳经济,低碳经济已经逐渐成为我国适应国际趋势的战略选择。黄金作为一种稀缺贵金属,具有很好的抗腐蚀性、延展性和稳定性。其冶炼和加工都需要较高的工艺和技术,同时也会产生大量的污染物。为了顺应我国低碳经济发展的要求,黄金行业应该寻求一条有效的"低碳"之路。     

碳债券的估值及敏感性分析

论文以2014年5月13日中广核电附加碳收益中期票据的成功发行为背景,在假设核证碳减排量(CER)服从几何分形过程的情况下,结合分形过程的蒙特卡洛模拟,研究了中期碳债券的设计和估值问题,并分析了不同的期权条款设计带来的风险差异。研究认为相对较复杂的强路径依赖型亚式浮息碳债券,在碳现货价格波动性较大的情况下,简单的欧式浮息碳债券是更好的设计选择。     

国际低碳经济发展经验及对中国的启示

在气候问题备受关注的国际大背景下,发展低碳经济越来越受到国际社会的重视。自2003年英国提出“低碳经济”发展概念以来,发达国家在发展低碳经济方面已经积累了一定的经验。中国目前面临巨大的温室气体减排压力,能源安全和生态安全面临威胁。应该借鉴国际低碳经济发展经验,在加强法律和政策支持、优化能源利用结构和产业结构、加强低碳技术的国际合作和自主研发能力、实施低碳化的城市公共交通以及倡导绿色消费等方面促进低碳经济的发展。     

碳关税对我国外贸产生的影响及应对策略

气候大会的相继召开说明各国越来越重视气候变化,发展低碳经济已经成为世界共识。发达国家提出碳关税的概念,以求减少全球二氧化碳排放,引起了以中国为首的发展中国家强烈的反对。主要介绍碳关税的含义、由来以及目前实施的现状,分析征收碳关税将对我国外贸产生的巨大影响,最后从国内和国际两个层面提出应对碳关税的措施。     

生态税与低碳经济发展

低碳经济是生态文明建设的客观要求,也是实现人与自然和谐的必然选择。文章从当前生态环境面临市场和政府干预失灵难题的基础上,分析了发展生态税对发展低碳经济的意义,进而提出建立和完善生态税促进低碳经济发展的政策建议。     

Revisiting carbon disclosure and performance: Legitimacy and management views

With corporate disclosure of carbon emissions rapidly increasing, the long-standing question remains whether carbon disclosure has any influence on the improvement of carbon performance. Previous studies of environmental disclosure and performance have predominantly focused on whether disclosure is a substitute for poor performance. Little attention has been devoted to the more important question about how changes in disclosure may lead to subsequent changes in performance over time. Following the rationales taken by the legitimacy and management perspectives, we revisit the relationship between carbon disclosure and performance, with a focus on changes that disclosure may (or may not) create. Using a change analysis of Global 500 companies and their carbon emission and disclosure data released between 2008 and 2012, this study finds that the change in carbon disclosure levels is positively associated with a subsequent change in carbon performance (examined through direct and indirect carbon emission intensities). Thus, regardless of whether disclosure has been used as a legitimising tool for prior poor performance, this study confirms that carbon disclosure motivates companies and creates an ‘outside-in’ driven effect for subsequent change and improvement in carbon performance. However, the association between changes in carbon disclosure and performance is relatively weaker in high energy-intensive firms.     

Risk regulation,community pressure and the use of management accounting in managing climate change risk: Australian evidence

This exploratory study is amongst the first to investigate how companies perceive the regulation of carbon emissions and the pressure exerted by the community in an environment characterised by risk and uncertainty. Semi-structured interviews were conducted among 39 executives who were directly involved in carbon emissions management in 18 large listed Australian companies. Consistent with Prospect Theory, we find that decision-makers are threat biased and are more likely to take immediate actions when climate change issues are framed as threats as opposed to opportunities. From the interview data, it is seen that managers use management accounting techniques as a risk management tool in mitigating risks associated climate change issues. Furthermore, this use of management accounting appears to be driven primarily by the protection of economic interests, regulatory pressure and reputational pressure. The study provides insights into how perceptions of climate change uncertainties and external pressure for disclosure of emissions information influence companies to use management accounting in managing climate change risk.     

碳排放约束视角下产业智能化对区域经济差距的影响研究

本文利用2003~2019年中国省级面板数据,从碳排放约束视角出发,实证考察了产业智能化对区域经济差距影响的差异性和产业智能化影响区域经济差距的机制。研究表明,产业智能化对缩小全国、东、中和西部地区省域间经济差距具有显著的正向效应;进一步考虑碳排放约束,发现碳排放约束正向调节了产业智能化对区域经济差距的正向效应,西部地区由于自身产业结构和区位因素,抑制了产业智能化对区域经济差距的正向效应;最后,对产业结构升级的两个子维度在产业智能化和区域经济差距间的中介效应检验,发现产业结构升级的中介效应存在,且主要是通过产业结构高级化实现,产业结构合理化发挥的作用较小。     

电力市场效率评估与碳市场价格设计——基于电碳市场关联视角下的传导率估计

厘清并量化电力市场与碳市场间的关联关系,是深化电力市场改革与实现"双碳"目标的重要抓手。本文基于2006—2018年中国100个地级及以上城市的面板数据,使用似不相关回归模型评估了电力市场效率,在此基础上研究了电、碳市场关联条件下碳价对电价的传导率,并对不同场景下全国碳市场的碳价进行了优化设计。研究发现:(1)与非试点地区相比,碳市场试点地区中电力市场的无谓损失率更低,并且市场效率的提高具有更高的碳减排作用。(2)电、碳市场关联条件下,碳价对电力市场中居民电价的传导率高于对工业电价的传导率,但均远低于完全竞争条件下的传导率水平。(3)传导率的提升能够缓解"降电价"与"碳减排"之间的矛盾。当前传导率下电力市场效率目标与碳减排目标的协同实现需要碳价的大幅提升,而在完全传导的理想情况下最优碳价约为40元/吨。(4)长期而言,当前传导率下碳排放总量下降场景、经济增速放缓场景对应的最优碳价分别为255.05元/吨、173.63元/吨,而人口老龄化场景并未对最优碳价的设置形成约束。本文的研究不仅为电力市场与碳市场之间的关联奠定了理论基础,也为全国碳市场价格机制的优化设计提供了政策参考。     

云南省清洁发展机制项目发展现状、存在问题及对策研究

据云南省能源局统计数据显示,截至2011年6月,云南省在联合国成功注册的清洁发展机制项目数量已居全国首位,这些项目的实施为云南省节能减排及发展低碳经济做出了巨大贡献。但我们也应清醒地认识到,由于云南地处西南边陲,经济发展落后,云南省的CDM项目在发展中仍存在一些问题,在国家大力发展云南桥头堡战略的背景下,深入分析和解决这些问题,才能使云南省的CDM项目健康、持续地发展。