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The Design and Implementation of an International Trading Scheme for Greenhouse Gas Emissions

Author

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  • ZhongXiang Zhang

    (Faculty of Law and Faculty of Economics, University of Groningen, PO Box 716, 9700 AS Groningen, The Netherlands)

Abstract

The inclusion of emissions trading in the Kyoto Protocol reflects an important decision to address climate-change issues through flexible market mechanisms. The author addresses a number of policy issues that must be considered in designing and implementing an international greenhouse gas (GHG) emissions-trading scheme. These include: how much of a Party's assigned amount of GHG emissions can be traded internationally; emissions-trading models; competitiveness concerns in the allocation of emissions permits; banking and borrowing; liability for noncompliance; how to enlarge the emissions-trading system; and bubbles. Although the focus is exclusively on emissions trading, its relationship with the clean development mechanism, joint implementation, and bubbles are discussed wherever necessary. By providing some new insights, the author aims to contribute to the design and operationalization of an international emissions-trading scheme.

Suggested Citation

  • ZhongXiang Zhang, 2000. "The Design and Implementation of an International Trading Scheme for Greenhouse Gas Emissions," Environment and Planning C, , vol. 18(3), pages 321-337, June.
    • Handle: RePEc:sae:envirc:v:18:y:2000:i:3:p:321-337
    DOI: 10.1068/c9864j
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    References listed on IDEAS

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    1. Fischer, Carolyn & Kerr, Suzi & Toman, Michael, 1998. "Using Emissions Trading to Regulate U.S. Greenhouse Gas Emissions: An Overview of Policy Design and Implementation Issues," National Tax Journal, National Tax Association;National Tax Journal, vol. 51(3), pages 453-464, September.
    2. Ian W.H. Parry & Roberton C. Williams III & Lawrence H. Goulder, 2002. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," Chapters, in: Lawrence H. Goulder (ed.), Environmental Policy Making in Economies with Prior Tax Distortions, chapter 25, pages 471-503, Edward Elgar Publishing.
    3. ZhongXiang Zhang, 1998. "The Economics of Energy Policy in China," Books, Edward Elgar Publishing, number 1291.
    4. Mitchell, Ronald B., 1994. "Regime design matters: intentional oil pollution and treaty compliance," International Organization, Cambridge University Press, vol. 48(3), pages 425-458, July.
    5. Zhang, ZhongXiang & Nentjes, Andries, 1997. "International tradable carbon permits as a strong form of joint implementation," MPRA Paper 13300, University Library of Munich, Germany.
    6. Zhang, ZhongXiang, 1998. "Greenhouse gas emissions trading and the world trading system," MPRA Paper 12971, University Library of Munich, Germany.
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    Citations

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    Cited by:

    1. Claudia Kemfert & Hans Kremers, 2004. "A Computable General Equilibrium Assessment of a Developing Country Joining an Annex B Emission Permit Market," Discussion Papers of DIW Berlin 454, DIW Berlin, German Institute for Economic Research.
    2. Zhang, Zhong Xiang, 2001. "Why has the energy intensity fallen in China's industrial sector in the 1990s?: the relative importance of structural change and intensity change," CDS Research Reports 200111, University of Groningen, Centre for Development Studies (CDS).
    3. Andreas Löschel & Zhong Zhang, 2002. "The economic and environmental implications of the US repudiation of the kyoto protocol and the subsequent deals in Bonn and Marrakech," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 138(4), pages 711-746, December.
    4. Zhang, ZhongXiang, 2000. "Using emissions trading to regulate global greenhouse gas emissions," MPRA Paper 13226, University Library of Munich, Germany.
    5. Zhang, ZhongXiang, 2001. "The liability rules under international GHG emissions trading," Energy Policy, Elsevier, vol. 29(7), pages 501-508, June.
    6. Svetlana Maslyuk & Dinusha Dharmaratna, 2011. "Comparative analysis of the existing and proposed ETS," Monash Economics Working Papers 15-11, Monash University, Department of Economics.
    7. Adam Rose & Dan Wei & Jeffrey Wennberg & Thomas Peterson, 2009. "Climate Change Policy Formation in Michigan," International Regional Science Review, , vol. 32(4), pages 445-465, October.
    8. Peñate, D.R. Santos & Peñate, C. Manrique de Lara, 2003. "SAM Updating Using Multiobjective Optimization Techniques," Conference papers 331148, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    9. Lindsey, Robin & Santos, Georgina, 2020. "Addressing transportation and environmental externalities with economics: Are policy makers listening?," Research in Transportation Economics, Elsevier, vol. 82(C).
    10. Rose, Adam & Peterson, Thomas D. & Zhang, ZhongXiang, 2006. "Regional carbon dioxide permit trading in the United States: coalition choices for Pennsylvania," MPRA Paper 13547, University Library of Munich, Germany.
    11. Nijkamp, Peter & Wang, Shunli & Kremers, Hans, 2005. "Modeling the impacts of international climate change policies in a CGE context: The use of the GTAP-E model," Economic Modelling, Elsevier, vol. 22(6), pages 955-974, December.
    12. repec:dgr:rugcds:200111 is not listed on IDEAS
    13. Zhang, ZhongXiang, 1999. "The Kyoto Protocol: a cost-effective strategy for meeting environmental objective?: discussion," MPRA Paper 14049, University Library of Munich, Germany.

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