我國碳交易市場日趨成熟,且在各個地區的碳交易中起到樞紐作用。碳交易價格變動對資本市場的信息溢出效應值得關注。本文考察我國主要的七家碳交易市場價格信息對中國低碳指數的溢出效應,研究發現,碳交易價格對中國低碳指數的變動率和波動率均有著明顯的溢出效應,基于碳交易價格的風險管理值得重視,我國應順勢推出碳期貨,規避碳交易價格風險。

China’s carbon trading market has become more mature and plays a vital role in carbon trading in various regions. The information spillover effect of changes in carbon trading prices on the capital market deserves attention. This paper examines the spillover effects of price information in China’s seven major carbon trading markets on China ’s low-carbon index. The study finds that carbon trading prices have a clear spillover effect on the rate of change and volatility of China’s low-carbon index,based on carbon trading prices. Risk management deserves attention. China should introduce carbon futures in a move to avoid carbon trading price risks.