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Carbon emission trading mechanism is an important market-based instrument to address global climate change. The auction ratio and price of carbon emission allowances (CEA) are cores of the carbon emission trading mechanism. What combination of CEA auction ratio and auction price is most conducive to carbon emission reduction for emission control enterprises? There are still relatively few studies conducted on this issue, and there is no clear answer from the views of theory and practice. In this paper, the AIM/Enduse model was used to analyze the changes and differences of installed power capacity, power supply, energy consumption and carbon emissions in the Guangdong-Hong Kong-Macao Great Bay Area (GBA) with different combinations of CEA auction ratios and prices. Moreover, the best pathway of energy transition was explored in the power industry of the GBA, and the best combination of CEA auction ratios and prices was identified in the GBA. The results show that: (1)The carbon emission constraint starts to work only when the auction ratio of CEA is increased to 50% and the auction price is increased to 60 CNY/ton (Scenario p 3). When the auction ratio of CEA is 100% and the auction price reaches 120 CNY/ton (Scenario p 5), a low-carbon transition of the power sector in the GBA can be achieved. (2) Under scenario p 5 , the total cost of power transition rises and then falls. And the cost of carbon in the power sector increases exponentially as the auction ratio of CEA and the auction price rise. However, the growth in the cost of power supply is relatively flat, which shows that appropriate carbon trading mechanism can improve the economic benefits of power sectors. With the increase of installed capacity of clean low-carbon energy generation and power supply, as well as the decrease of local power cost in the GBA, the proportion of outsourcing power can be appropriately reduced in the future, with an aim to reduce the external dependence of electricity to ensure the security of energy supply. In the end, it suggests that cities in the GBA should give full play to their regional advantages and establish a unified carbon emission trading market in the GBA as soon as possible. This study provides a theoretical basis for the supplementation and improvement of China's carbon emission trading mechanism. • What is the best combinations of CEA auction ratios and auction prices in the GBA? This paper gives a clear answer. • The best transition pathway of the power industry under technological progress and carbon trading policy was suggested. • With the decrease of local power cost, the proportion of outsourcing power can be appropriately reduced in the future. • Provides a theoretical basis for the supplementation and improvement of China's carbon emission trading mechanism. [ABSTRACT FROM AUTHOR]

The spatiotemporal distributions and physical–optical properties of aerosols are of great scientific significance for the study of climate change and atmospheric environment. What are the characteristics of aerosols in constant high humidity? Continuous wet weather (CWW) is a special weather phenomenon that occurs frequently during the late winter and early spring in South China. In this study, the CALIPSO satellite data and the ERA5 and MERRA-2 reanalysis data are used to analyze the aerosol optical properties of a total of 68 CWW processes from 2012 to 2021 in the Guangdong–Hong Kong–Macau Greater Bay Area (GBA). We attempt to explore the variations in meteorological conditions and physical–optical properties of aerosols during the before-stage, wet-stage, and after-stage under different humidity levels. The results show that the prevailing wind direction is northeasterly and that the temperature and humidity are lower under the influence of cold high pressure in the before-stage. Moreover, the high aerosol optical depth (AOD) mainly results from regional transport. During the wet-stage, clean ocean airflow causes AOD to remain at a low level, whereas temperature and humidity increase significantly. The wet-stage ends with coldness when it is controlled by cold high pressure again. The atmospheric circulation in the after-stage is similar to that in the before-stage. However, a remarkable feature is that there is a temperature and humidity inversion layer, which results in a significant increase in AOD. This study reveals the physical–optical properties of aerosols during the three stages and the influence mechanism of meteorological factors on aerosols, which can provide a scientific basis for the study of CWW in the future. [ABSTRACT FROM AUTHOR]