This paper takes the Shanghai carbon emissions trading market as an example, and based on the gray correlation analysis method to calculate the cumulative contribution of each influencing factor to the Shanghai carbon emissions trading price, the VAR model is used to study how the energy price, the climate environment, the level of macroeconomic development, and the foreign market influence the price of the Shanghai carbon emissions rights. The results of the study show that the price of carbon emission rights in Shanghai is mainly influenced by energy prices. Among them, the influence of regional economy on the Shanghai carbon emission rights trading market is stronger. Regional temperature and air quality have a continuous impact on the Shanghai carbon market. The daily closing data of the European carbon emissions trading price and the exchange rate of the euro against the Chinese yuan have a more significant impact on the Shanghai carbon market, and the exchange rate factor has the largest contribution in the gray correlation analysis. Therefore, it is necessary to take into account the differences of regional economies, which will help to construct the steady development of the national carbon market.

Senbati Tasken, Yan Haibo. Study on the Influencing Factors of Price Fluctuation of Shanghai Carbon Emission Right Trading. Academic Journal of Business & Management (2023) Vol. 5, Issue 25: 197-206. https://doi.org/10.25236/AJBM.2023.052530.

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