The control of total energy consumption and intensity, as well as total carbon emissions and intensity, is a key institutional design to serve the national carbon peak and carbon neutrality goals. To promote the establishment of a dual control system for carbon emissions, a series of supporting measures and institutional tools are needed. The construction of energy use rights market and carbon emission rights market in China is an exploration of market-oriented energy conservation and emission reduction mechanisms. Both are based on total quantity control and utilize secondary trading markets to redistribute scarce factor rights and interests. Under the dual control of carbon emissions, energy trading can still control emissions from the source end, while carbon emissions trading strengthens technological applications from the end. Both are key policy tools for addressing climate change and promoting green development. If two markets operate in synergy and address the issues of repeated incentives and regulations, it can improve emission reduction efficiency and reduce emission reduction costs. This article establishes a quantitative analysis model to prospectively study the synergistic relationship between the energy use rights market and the carbon emission rights market.
Wang et al. (2025) studied this question.