Carbon Markets in China: Development and Challenges |
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Authors: | Dong Sun Jingqi Sun Xingping Zhang Qingyou Yan Qianru Wei Yun Zhou |
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Affiliation: | 1. School of Economics and Management, North China Electric Power University, Beijing, China;2. School of International Trade and Economics, University of International Business and Economics, Beijing, China |
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Abstract: | China is attempting to initiate its own carbon market—an important market-based policy instrument which would determine the fate of global climate policy as the largest emitter of carbon dioxide across the world. This article looks at carbon trading development so far and examines the key challenges ahead in China. These past experiences—whatever from international CDM practice, or SO2 emission trading and a domestic voluntary carbon market—have paved the solid way to build the existing ETS pilots similar to European Union Emissions Trading System (EU ETS). The investigation into China’s ETS pilots discovered some important and urgent issues such as the capsetting and deepening energy market reform. |
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Keywords: | cap-and-trade carbon market CDM China ETS pilots |
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