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Carbon Cap-and-Trade in China: A Comprehensive Framework

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  • Hongxun Liu
  • Zhi Li

Abstract

This article proposes a comprehensive framework to explore a possible carbon cap-and-trade scheme in China. By applying the case of China, our empirical results present the demand side and supply side of carbon-emission permits in the market and several other significant findings: (i) carbon dioxide (CO2) marginal abatement cost varies a lot among different regions; (ii) in total, CO2 emissions could have been reduced by 5.14 billion tons if all the provinces had achieved their anticipated environmental performance during 1997–2014; (iii) the equilibrium price of CO2 trading is 241 RMB/ton, irrelevant to the original allocation of allowances.

Suggested Citation

  • Hongxun Liu & Zhi Li, 2017. "Carbon Cap-and-Trade in China: A Comprehensive Framework," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 53(5), pages 1152-1169, May.
    • Handle: RePEc:mes:emfitr:v:53:y:2017:i:5:p:1152-1169
    DOI: 10.1080/1540496X.2016.1278530
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    Cited by:

    1. Fan, Xinghua & Li, Xuxia & Yin, Jiuli & Tian, Lixin & Liang, Jiaochen, 2019. "Similarity and heterogeneity of price dynamics across China’s regional carbon markets: A visibility graph network approach," Applied Energy, Elsevier, vol. 235(C), pages 739-746.
    2. Yang, Lisha & Li, Yutianhao & Liu, Hongxun, 2021. "Did carbon trade improve green production performance? Evidence from China," Energy Economics, Elsevier, vol. 96(C).
    3. Han, Rong & Li, Jianglong & Guo, Zhi, 2022. "Optimal quota in China's energy capping policy in 2030 with renewable targets and sectoral heterogeneity," Energy, Elsevier, vol. 239(PA).

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