Carbon emission trading is an important countermeasure for countries around the world to cope with the challenge of climate change. Price signals in the carbon market play an important stabilizing role. Therefore, research on the factors affecting carbon price fluctuations is of great significance. Based on this, an empirical study on the fluctuation factors of carbon price in China's pilot carbon market showed that: gross industrial output, coal consumption and the number of extreme weather

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... e a positive impact on carbon prices, while the technology innovation index has a negative impact on carbon prices. This article puts forward suggestions on the construction of the carbon market, stabilizes carbon prices, and promotes the development of China's carbon market.