中文摘要：

碳排放配额的交易是碳排放权交易制度设计中降低碳减排成本的重要手段。然而，如何对排放配额进行计量却还是一个尚待研究并亟待解决的难题。文章重点分析了免费分配的配额如何进行会计计量的问题。研究表明，历史成本计量免费配额存在诸多缺陷，不是一种合理的计量选择。只要存在活跃的碳交易市场，就应该采用公允价值进行计量。而在缺乏活跃碳排放权交易市场的情况下，则宜采用与配额特征相匹配的实物期权估价模型（Real Option model）进行计量。

英文摘要：

Trading of carbon emission allowances is the important way to reduce carbon cost. However, how to measure carbon emission allowances is an urgent difficuh problem. The paper analyzes the accounting measure of free emission allowances. The research result shows that historic cost has many defaults of measurement and is not a rational choice. When carbon emission allowances have active market, it should measure with fair value attribute. When carbon emission allowances do not have active market, it could measure emission allowances with real option model.