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Review of Carbon Emissions Trading Pilots in China

Author

Listed:
  • Maosheng Duan
  • Tao Pang
  • Xiliang Zhang

Abstract

China's carbon emissions trading pilot schemes have already made significant progress, with five out of the seven pilot systems having started operation by the end of 2013. The experience in establishing and operating the pilot schemes will be valuable to the establishment of China's unified national emissions trading system in the near future. Design features of the five pilots are analyzed and compared, based on officially published documents. Aspects discussed include the establishment of the emissions cap, sector coverage, allowance allocation, data basis, compliance rules, monitoring/reporting/verification (MRV) mechanism, market intervention, offset mechanism, stakeholder consultations and legal basis. These systems are somewhat similar in cap setting, MRV mechanism and offset mechanism, but quite different in allocation approaches and market intervention. The schemes differ as well from existing international schemes as for example the European Emission Trading Scheme (EU ETS). Reasons for the different designs are briefly analyzed in a comparative manner.

Suggested Citation

  • Maosheng Duan & Tao Pang & Xiliang Zhang, 2014. "Review of Carbon Emissions Trading Pilots in China," Energy & Environment, , vol. 25(3-4), pages 527-549, April.
    • Handle: RePEc:sae:engenv:v:25:y:2014:i:3-4:p:527-549
    DOI: 10.1260/0958-305X.25.3-4.527
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    Citations

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    Cited by:

    1. Munnings, Clayton & Morgenstern, Richard D. & Wang, Zhongmin & Liu, Xu, 2016. "Assessing the design of three carbon trading pilot programs in China," Energy Policy, Elsevier, vol. 96(C), pages 688-699.
    2. Sunghee Shim & Jiwoong Lee, 2016. "Covering Indirect Emissions Mitigates Market Power in Carbon Markets: The Case of South Korea," Sustainability, MDPI, vol. 8(6), pages 1-11, June.
    3. Li, Mengyu & Weng, Yuyan & Duan, Maosheng, 2019. "Emissions, energy and economic impacts of linking China’s national ETS with the EU ETS," Applied Energy, Elsevier, vol. 235(C), pages 1235-1244.
    4. Coraline Goron & Cyril Cassisa, 2017. "Regulatory Institutions and Market-Based Climate Policy in China," Global Environmental Politics, MIT Press, vol. 17(1), pages 99-120, February.
    5. Kim, Yong-Gun & Lim, Jong-Soo, 2014. "An emissions trading scheme design for power industries facing price regulation," Energy Policy, Elsevier, vol. 75(C), pages 84-90.
    6. Zhang, Xu & Qi, Tian-yu & Ou, Xun-min & Zhang, Xi-liang, 2017. "The role of multi-region integrated emissions trading scheme: A computable general equilibrium analysis," Applied Energy, Elsevier, vol. 185(P2), pages 1860-1868.
    7. Mengfei Jiang & Xi Liang & David Reiner & Boqiang Lin & Maosheng Duan, 2018. "Stakeholder Views on Interactions between Low-carbon Policies and Carbon Markets in China: Lessons from the Guangdong ETS," Working Papers EPRG 1805, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    8. Tao Pang & Maosheng Duan, 2016. "Cap setting and allowance allocation in China's emissions trading pilot programmes: special issues and innovative solutions," Climate Policy, Taylor & Francis Journals, vol. 16(7), pages 815-835, October.
    9. Zhao, Yibing & Wang, Can & Sun, Yuwei & Liu, Xianbing, 2018. "Factors influencing companies' willingness to pay for carbon emissions: Emission trading schemes in China," Energy Economics, Elsevier, vol. 75(C), pages 357-367.
    10. Yang, Lin & Li, Fengyu & Zhang, Xian, 2016. "Chinese companies’ awareness and perceptions of the Emissions Trading Scheme (ETS): Evidence from a national survey in China," Energy Policy, Elsevier, vol. 98(C), pages 254-265.
    11. Cong, Ren & Lo, Alex Y., 2017. "Emission trading and carbon market performance in Shenzhen, China," Applied Energy, Elsevier, vol. 193(C), pages 414-425.
    12. Wei Jiang & Jia Liu & Xiang Liu, 2016. "Impact of Carbon Quota Allocation Mechanism on Emissions Trading: An Agent-Based Simulation," Sustainability, MDPI, vol. 8(8), pages 1-13, August.

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