碳交易背景下石化企业能耗优化项目的投资分析  

The Investment Analysis of Energy-Efficient Technologies in Firms Based on the Trading of Carbon Emission Permission

作　　者：周远祺[1,2] 杨招军[1] 杨金强[3] 

机构地区：[1]湖南大学,长沙410079 [2]中国地质大学,武汉430074 [3]上海财经大学,上海200433

出　　处：《工业技术经济》2013年第11期100-106,共7页Journal of Industrial Technological Economics

基　　金：国家自然科学基金资助项目(项目编号:71203205);教育部人文社科项目(项目编号:12YJC790294);中国博士后基金项目(项目编号:2012M510188)

摘　　要：碳交易是为促进全球二氧化碳减排所采用的市场机制。碳交易的价格直接影响到企业对能耗优化技术的投资、利润与经营状况。本文结合我国国情以及当前经济低迷情况构建了实物期权投资分析模型,应用案例进行数值分析,得到案例项目的最佳投资阈值点,分析碳交易价格由不同跳跃状态下对石化企业选择的能耗优化项目价值、投资规模和投资时机的影响,指导石化企业能耗优化项目的投资风险管理以及做好排放权的战略储备及其战略规划。The trading on carbon emission permission is a scheme that utilizes market forces to reduce carbon dioxide emissions and tackle the problem of climate change. The price of carbon emission permission can directly affect the company＇s investment, income and its situation of business. A real practice of the petrochemical firm is considered as a case study to evaluate the optimal time and the value of the cost saving effect and amount of C02 emission reduction through investing in an energy efficiency enhancement of the project. Further- more, we discuss the impact of the different jump states of the carbon trade price on investment size and threshold based on the analysis and numerical simulation of this model, qlais paper presents a strategy plan that helps petrochemical enterprises to manage risk, utilize and re- serve the carbon emission permission.

关 键 词：碳排放权交易 碳交易价格 实物期权 能效 投资决策 

分 类 号：F830.59[经济管理—金融学]