Page 53 - Research on Financial Development Mechanism and Path of Forestry Carbon Sequestration in Developing Countries under Double Carbon Targets

Chapter 1 Carbon Asset Management Practice

mand. The owners of carbon assets may obtain a certain amount of differential gains or
may suffer a certain amount of losses. Therefore, the owners of carbon assets have the
right to decide whether to purchase carbon assets and whether to implement them in the
future. According to the relevant regulations, enterprises are required to exercise their
carbon emission rights over the carbon assets they belong to within a specified period
of time. If they cannot discharge the carbon assets on time, they need to transfer them.
On the other hand, due to the uncertainty in the carbon trading market, owners of car-
bon assets can choose whether to emit or transfer in the future based on the comparison
of the gains from selling or transferring carbon assets with the gains from equivalent
emissions. Therefore, carbon assets have obvious real option attributes.

3.3. Factors Affecting the Valuation of Carbon Assets

Carbon assets are traded in the carbon market. It is very necessary to assess and es-
timate the value of carbon assets. The premise of assessing carbon assets is to analyze
the influencing factors of the value of carbon assets, determine the scope and quantity
of carbon assets, and finally determine the value of carbon assets by using scientific as-
sessment methods. Combined with the connotation and characteristics of carbon assets,
the analysis is mainly made from macro-impact factors and micro-impact factors.

3.3.1 macro-impact factors
Macro-influencing factors on the value of carbon assets refer to the general term of
various external factors affecting the price changes of carbon assets of enterprises, in-
cluding economic development factors, government control factors, industrial structure
factors and energy structure factors.
First, economic development. The development of social macro-economy will
cause the change of total social supply and total social demand. In the period of eco-
nomic prosperity, facing the increase of social aggregate demand, enterprises will rap-
idly expand the scale of production to meet the social aggregate demand, and obtain
profits and gains from it. However, the expansion of the production scale of enterprises
will increase the demand for greenhouse gas emissions under the existing technology
level, which will lead to the situation that the price of carbon assets will rise, the de-
mand for carbon assets will rise sharply, and the supply will not meet the demand. On
the other hand, if the economy is sluggish and the total social demand is reduced, then

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