Improving Readability and Academic Style in a Carbon Finance Research Paragraph

Studies on carbon finance are currently divided into three categories. The first focuses on market development processes, such as the establishment of regulations and operations in carbon emission trading markets [7,13] and market mechanism design [14–16]. The second category examines factors that influence the pricing of emissions allowances and their derivatives [17–20]. The third category investigates the risks associated with the carbon market, including regulatory, price, and market risks [21–24].

| Modification | Explanation | |--------------|-------------| | Replaced 'micro studies' with 'studies' | The term 'micro studies' is redundant and unnecessary in this context. | | Replaced 'cat-egories' with 'categories' | Corrected spelling error. | | Split the first sentence into two sentences | The original sentence was too long and difficult to read. | | Added 'such as' after 'markets' | This clarifies that the examples given are not an exhaustive list. | | Replaced 'process of market development' with 'market development processes' | This sounds more natural and concise. | | Replaced 'design of market mechanisms' with 'market mechanism design' | This follows the same pattern as the previous modification. | | Replaced 'Secondly, it focuses' with 'The second category focuses' | This makes the sentence more clear and concise. | | Replaced 'influencing factors' with 'factors that influence' | This sounds more natural and uses the active voice. | | Changed 'carbon emission rights' to 'emissions allowances' | This is the more commonly used term. | | Replaced 'carbon market's risks' with 'risks associated with the carbon market' | This follows a more common phrasing. | | Replaced 'policy' with 'regulatory' | This is more accurate, as regulatory risk is a more common term in finance. | | Reordered the examples of risks | This puts them in a more logical order. |