简介：Currently,theglobalcarbontradingsystemsarefragmentedandbelongtodifferentgovernmentsorareunderthejurisdictionofdifferentregions,resultinginaseriesofnewproblems,suchashowtolinkdispersedtradingsystems,howtocomparetheemissionreductionofvariousmarketsandotherissues.Sincethedevelopmentoftheinternationalcarbonmarketisrelativelyimmaturewithuncertainlifeexpectancyandvolatilityduringitsshorthistory,andthereisalackofquantitativedataonthelong-termrecord,themarketcouldprovidefewriskmanagementtools.Meanwhile,withthelaunchesofChina’sregionalcarbontradingpilotsinsevenprovincessince2013andcombinedwiththenationalvoluntaryemissiontradingsystem,carbontradingwillbecomeanimportantmechanismforChinainachievingitsemissionreductiontarget.Inthefirststage,thecarbonfinancemarketisatleastfacedwithmechanismdesignrisks,marketsupplyrisksandcompliancerisks.Therefore,tosecurethedevelopmentofthecarbonmarketandforpublicinterest,relevantgovernmentdepartmentsofChinashouldidentifytherisksfacingthemarketandshouldmakethebasicprinciplesandgoals,suchasensuringeffectivetradingandpricingmechanismstoavoidfraudandpricemanipulation,andbalancingtransparencyandconfidentialityofinformation.Consequently,thegovernmentsshoulddevelopacomprehensivecarbonfinanceregulatorysystemcoveringregulatorylegislation,regulatoryinstitutionsandtheirauthorities,regulatoryscopeaswellasregulatoryobjects.