環境產權化理論與生態現代化理論演繹出的碳市場被奉為解決碳排放"負外部性"的有效手段。《京都議定書》開創了"自上而下"模式的國際碳市場,但因未充分尊重締約方自主和平等參與而成為一個封閉的"碳交易俱樂部"。京都機制的實踐不足與碳市場的理論爭議引發《巴黎協定》碳市場存廢之爭。《巴黎協定》的"國家自主貢獻"標志著全球氣候治理由"強制約束"向"自覺責任"的轉向。基于新履約模式,締約方形成四種新市場機制方案:基線與信用及碳交易機制、基線與信用"自上而下"或"自下而上"機制以及國際碳交易機制。為保障有效減緩并兼顧自主與平等參與,《巴黎協定》建立了"自上而下"基線與信用機制,但采取了與京都機制"項目"基線不同的"部門"基線。新市場機制對信用交易不再特殊限定,尊重締約方參與和適用的自愿性;且以"部門"的總量約束為準入門檻對所有締約方統一要求,體現出平等參與的特點;減排單位中植入可持續發展標準從而對新機制實施的總體效益予以"硬約束"。新機制將促進部門內的減排單位統一,為國際碳市場奠定規則基礎。但其市場淡化與可持續發展植入亦將影響國家及區域碳市場異質化發展,不利于國際碳市場構建,其背棄配額交易,獨采信用交易亦會抑制碳貨幣形成。中國建立國家碳市場旨在促進能源市場化改革和產業結構調整,將有利于中國履行"碳強度"和"非化石能源比重"的自主承諾,還將扭轉經濟增長對高碳排放的依賴,為未來中國履行強制減排責任奠定基礎。

Carbon Market,deduced from the theory of environmental property and ecological modernization,is regarded as an efficient tool to solve the negative externalities of carbon emission. The Kyoto Protocol established a ‘top-down’international carbon market which became a closed ‘carbon trading club’afterwards because of insufficient respect for the autonomous and equal participation of the parties. Theoretical dilemma of Carbon Market and Kyoto mechanisms practice defects raises the dispute upon Carbon Market of Paris Agreement. The ‘intended nationally determined contribution’( INDC) of the Paris Agreement marks the shift from‘mandatory bind’to ‘voluntary responsibility’of global climate governance.The Parties raised four new market mechanism( NMM) proposals on the basis of the new compliance model. A baseline-and-Crediting and trading mechanism,centrally governed baseline-and-crediting mechanism,facilitative‘bottom-up ’baseline-and-crediting mechanism or International cap-and-trading. In order to ensure effective mitigation as well as taking into account of parties autonomous and equal participation,the Paris Agreement establishes a ‘top-down’baseline-and-crediting mechanism,but takes a ‘sector’baseline that is different from the Kyoto ‘project’baseline. The new market mechanism no longer imposes specifically limitationon on credit trading,respecting the autonomous participation of Parties. It takes the sector baseline as the uniform threshold for all parties,which reflects the equal participation of NMM. The NMM incorporates sustainable development standards into emission reduction units to impose constraint on overall benefits of enforcement of NMM. The NMM will promote the unification of units within the sector,laying the foundation for the international carbon market. However,the flexible and sustainable development incorporation will affect the heterogeneity development of the regional carbon market,which will not benefit the international carbon market. Meanwhile,the NMM abolished the cap-and-trading which would inhibit the formation of carbon currency. China’s national carbon market aims to promote energy marketization reform and industrial restructuring,which would notonly be conducive to China to fulfill the ‘carbon intensity’and ‘non-fossil energy proportion’of the INDC,it also would reverse the high-carbon based economic growth,and lay the foundation for China to fulfill the mandatory emission reduction responsibility in the future.