Abstract
The most important issue related to the establishment of carbon emission trading in China is how to motivate the owners of public buildings to participate. However, Existing research few considered the characteristics of public building owners and the influence of various uncertain factors in carbon emission trading investments. To fill this gap, this study constructs a carbon emission trading investment decision model of public building owners to study the mechanism that encourages them to participate, incorporating these characteristics and uncertain factors. The findings are as follows. First, carbon price is important in adjusting the emission reductions of different owners to minimize the total social cost of emission-reduction measures. Second, the price of carbon-emission permits has a significant impact on the investment threshold and decision-making behavior of public building owners. Finally, reducing the cost of energy-conservation and emission-reduction technologies in public buildings and appropriately subsidizing owners for their emission-reduction investment were effective methods to motivate them to participate in carbon emission trading. The results were used to quantitatively analyze the impact of a carbon emission trading mechanism on the decision-making behavior of public building owners and to construct the carbon emission trading mechanism used in China’s public building industry.
Highlights
At present, one of the biggest environmental problems that humans face on a global scale is climate change caused by the high concentration of greenhouse gases (GHG) in the atmosphere from fossil fuels and industrial processes (Burciaga, 2020)
We investigate how carbon price affects the decisionmaking of owners after they enter the carbon emission trading market
This is done to further explore the impact of carbon price on individual public building owners’ emissionreduction-investment decision-making, and it provides a theoretical basis for the construction of carbon emission trading mechanisms for public buildings
Summary
One of the biggest environmental problems that humans face on a global scale is climate change caused by the high concentration of greenhouse gases (GHG) in the atmosphere from fossil fuels and industrial processes (Burciaga, 2020). Introducing an appropriate carbon emission trading mechanism into the public building market can effectively decrease energy consumption in this sector. This issue involves the system builder (government), the GHG emission controller (public building owners), and transaction service providers (transaction agency, verification agency, and intermediary). While considering effective measures of public building owners who participate in carbon emission trading, this paper establishes a series of external coordination mechanisms. These include a risk-diversification mechanism, a technical-guarantee mechanism for trading media, an incentiveand-restraint mechanism for trading behaviors, and a policysupport mechanism for trading activities.
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