Carbon trading is a general term for greenhouse gas emissions trading. Carbon dioxide is the largest of the six greenhouse gases that Kyoto Protocol requires to reduce emissions. Therefore, greenhouse gas emissions trading is based on carbon dioxide equivalent per ton. Under the premise of total emission control, the emission right of greenhouse gases, including carbon dioxide, has become a scarce resource, thus possessing the commodity attribute. [ 12]?

After difficult negotiations, the United Nations Intergovernmental Panel on Climate Change adopted the United Nations Framework Convention on Climate Change on May 9, 1992. 1February 1997, 12 adopted the first additional agreement to the Convention, namely the Kyoto Protocol. The Protocol regards the market mechanism as a new way to solve the problem of greenhouse gas emission reduction represented by carbon dioxide, that is, treating carbon dioxide emission rights as a commodity, thus forming the trading of carbon dioxide emission rights, referred to as carbon trading.

On 20 11June1day, the National Development and Reform Commission issued the Notice on Launching the Pilot Work of Carbon Emissions Trading, and approved seven provinces and cities including Beijing, Shanghai, Tianjin, Chongqing, Hubei, Guangdong and Shenzhen to carry out the pilot work of carbon trading.

The national carbon emission trading market launched before the end of June 20021year mainly includes two parts: the trading center landed in Shanghai and the carbon quota registration system landed in Wuhan, Hubei. [ 12]? In June of 20021,the Ministry of Ecology and Environment and other ministries announced the opening of the national carbon trading market on June 25th.