Статті в журналах з теми "Emissions trading market"
Щоб переглянути інші типи публікацій з цієї теми, перейдіть за посиланням: Emissions trading market.
Оформте джерело за APA, MLA, Chicago, Harvard та іншими стилями
Ознайомтеся з топ-50 статей у журналах для дослідження на тему "Emissions trading market".
Біля кожної праці в переліку літератури доступна кнопка «Додати до бібліографії». Скористайтеся нею – і ми автоматично оформимо бібліографічне посилання на обрану працю в потрібному вам стилі цитування: APA, MLA, «Гарвард», «Чикаго», «Ванкувер» тощо.
Також ви можете завантажити повний текст наукової публікації у форматі «.pdf» та прочитати онлайн анотацію до роботи, якщо відповідні параметри наявні в метаданих.
Переглядайте статті в журналах для різних дисциплін та оформлюйте правильно вашу бібліографію.
1
Wang, Xiaoya. "The impact of China's entry into the carbon trading market on European carbon prices." BCP Business & Management 34 (December 14, 2022): 1542–50. http://dx.doi.org/10.54691/bcpbm.v34i.3210.
Анотація:
As the world's largest greenhouse gas emission country, the success or failure of the Chinese national carbon emissions trading market will largely determine climate change’s further development. Chinese national carbon market, which was opened on July 16, 2021, will also exert spillover effects on carbon trading markets in other countries, including the European carbon emissions trading market, which will have a more significant impact. This paper uses the double difference model(DID), sets the price of European certification emission reduction(CER) as the dependent variable, and takes China's entering into the carbon emissions trading market and the RMB exchange rate as the independent variable to test the influences of China's entering in the carbon emissions trading market on the European CER price. After that, non-linear machine learning models such as support vector machines are used to fit and predict the price of European CER, which further verifies that the opening of the Chinese national carbon emissions trading market contributes to a decline in European CER price.
2
Wu, Ming Ming. "China’s Carbon Emissions Trading Market Analysis." Advanced Materials Research 113-116 (June 2010): 484–87. http://dx.doi.org/10.4028/www.scientific.net/amr.113-116.484.
Анотація:
As one of the carbon trade mechanisms ratified by Tokyo Protocol, the Carbon Emission Permits Trade has played a significant role of offsetting the global warming problem. This paper introduces the international carbon emissions trading market mechanisms, transaction type, and volume and price, and then analyses the status of carbon emissions trading at home and abroad. Finally, the author puts forward construction carbon emissions trading in China.
3
Zhang, Kailin, Ailin Zhao, Qibo Yan, Meiqi Sheng, and Xiaochun Zhang. "Research on Carbon Emission Market Pricing Based on Putty-Clay Vintage Model." E3S Web of Conferences 358 (2022): 02012. http://dx.doi.org/10.1051/e3sconf/202235802012.
Анотація:
With the rapid development of economy, the ecological environment problem of global warming is becoming increasingly serious. In order to effectively implement carbon emission reduction, countries have successively established carbon tax system or carbon emission trading market. China has established carbon emissions trading market in seven pilot provinces since 2013, and plans to implement the national carbon emissions trading market in the ‘14th Five-Year’ period. In this process, how to price ‘carbon’ is the primary problem of China’s carbon trading market construction. This paper first reviews the current development status of carbon emissions pricing in China’s carbon trading pilot, and then analyzes the theoretical basis and price formation mechanism of carbon emissions trading pricing in the current carbon trading market, and then puts forward the carbon emissions pricing model based on Putty-Clay Vintage model, and puts forward reasonable policy suggestions for improving the current carbon pricing strategy in China.
4
Meng, Runtian. "A Comparative Study of Carbon Trading in China and Internationally." Advances in Economics, Management and Political Sciences 5, no. 1 (April 27, 2023): 6–12. http://dx.doi.org/10.54254/2754-1169/5/20220052.
Анотація:
With the development of society and industry, global warming has become an important environmental issue, and carbon trading is a powerful tool to limit greenhouse gas emissions, and more and more countries have started to adopt carbon trading systems to decrease carbon emissions and to improve the environment. This paper lists the major carbon trading markets in the world and compares them with China's carbon trading, examining the development status, implementation and achievements of carbon trading in each country. This study investigates the carbon trading mechanisms in the EU, Japan and New Zealand, conducts a detailed study on carbon pricing, voluntary emission reduction, and policy promotion, points out the strengths and weaknesses of carbon trading in China, and makes suggestions for development and improvement. This will be useful for other carbon trading markets as well, and the expansion of the ranges of carbon trading mechanisms employed will further control carbon emissions. There is a need to establish a multi-level emissions trading system using various market-based instruments from central to provincial levels and to maintain the carbon market using more flexible carbon pricing. This paper hopes to establish a solid market system to achieve the goal of combating global warming by improving all aspects of carbon trading.
5
Wang, Haochong. "Enabling Carbon Market Regulation under the Coupling of Institutional Rationality and Economic Rationality." Frontiers in Humanities and Social Sciences 3, no. 5 (May 23, 2023): 125–32. http://dx.doi.org/10.54691/fhss.v3i5.5047.
Анотація:
Carbon emissions trading is an important market-based instrument to address climate change and achieve carbon neutrality, which is different from general commodity trading and requires effective government regulation and empowerment. This paper analyzes the differences between the primary and secondary markets of carbon emissions trading from the perspective of coupling institutional and economic rationality, and points out that in the current carbon emissions regulation, the regulatory intervention is still insufficient in terms of scientificity, compulsion and flexibility, and systematic empowerment is needed. We should start from three perspectives: promoting the implementation of the Regulation on Carbon Emission Trading, clarifying the regulatory boundary between the horizontal authorities and the vertical central and local agencies in the carbon market, and paying attention to the synergy of economic incentive-based carbon emission regulation tools, and gradually constructing a regulation model compatible with carbon tax and carbon emission trading.
6
Wang, Xinyu. "How does global sustainable Policy influence Nation Policy -- A case Study of China." BCP Business & Management 33 (November 20, 2022): 270–83. http://dx.doi.org/10.54691/bcpbm.v33i.2760.
Анотація:
In the face of increasing pressure to reduce emissions, China, as a major developing country in terms of emission reduction, is obliged to establish a carbon trading market. At present, there are constraints in China's carbon trading market, such as insufficient financial participation, obvious regional segmentation of emission reduction, lack of pricing power in the international carbon trading market, lack of intermediary service capacity, and institutional irregularities. Drawing on the development experience of carbon trading markets in developed countries, this paper clarifies the idea of establishing China's carbon trading market, recognizes the current international environment, analyzes the constraints to the development of the carbon trading market, designs the carbon trading market system, and discusses the required legal, policy, and regulatory safeguards. Finally, nine suggestions are put forward to improve the legal and regulatory system of carbon trading.
7
Wang, Linshan, Chuanming Liu, and Xi Yang. "Research on Carbon Emission Reduction Effect of China's Carbon Trading Pilot." Advances in Social Sciences Research Journal 7, no. 5 (May 23, 2020): 240–50. http://dx.doi.org/10.14738/assrj.75.8233.
Анотація:
Carbon emissions trading is one of the important ways to reduce carbon emissions by giving CO2 emission rights a commodity attribute that allows them to trade on the market and to reduce greenhouse gas emissions through the market mechanisms. Based on the inter-provincial panel data from 1997 to 2016, this paper constructs a basic theoretical analysis framework to analyze the carbon emission reduction effects of carbon trading policies, adopts PSM-DID to study the carbon emission reduction effects of carbon trading pilots. This study finds that: (1) The implementation of the carbon trading pilot can promote carbon emission reduction, but the pilot provinces and municipalities have different economic development levels, industrial structure and supporting measures adopted after the implementation of the carbon trading pilot policy, resulting in differences in carbon emission reduction effects between pilot provinces. (2) For the seller of carbon emission rights, carbon emission reduction is achieved through three effects of "market return-inducing", "technical innovation incentive" and "government support"; for the buyer, carbon emission reduction is achieved through three effects of "enterprise cost pressure", "process innovation motivation" and "market guiding". (4) The results of traditional PSM-DID further prove that the carbon trading pilot can significantly reduce CO2 emissions.
8
Yang, Xianzi, Chen Zhang, Yu Yang, Yaqi Wu, Po Yun, and Zulfiqar Ali Wagan. "China’s Carbon Pricing Based on Heterogeneous Tail Distribution." Sustainability 12, no. 7 (April 1, 2020): 2754. http://dx.doi.org/10.3390/su12072754.
Анотація:
To address climate change, the carbon emission trading scheme has become one of the main measures to achieve emission reduction goals. One of the core problems in constructing the carbon emissions trading market is determining carbon emissions trading prices. The scientific nature of carbon emissions pricing determines the effectiveness of market regulation. Research on the influencing factors and heterogeneous tail distribution of carbon prices can increase the accuracy of carbon pricing, which is particularly important for the development of the carbon emissions trading market. The current studies have some limitations and lack heterogeneous tail description. We employ the arbitrage pricing theory-standardized standard asymmetric exponential power distribution model to analyze China’s regional carbon emissions trading price and use a genetic algorithm to solve linear programming. The results confirm the theoretical results and efficiency of the proposed algorithm. First, the new model can capture the skewness, fat-tailed distribution, and asymmetric effects of China’s regional carbon emissions trading price. Second, the macroeconomy, similar products, energy price, and exchange rate influence the carbon price fluctuation; investors’ behavior plays an important role in the heterogeneous tail distribution of carbon price. The findings provide references for the government to take appropriate measures to promote carbon emission reduction and improve the effectiveness of China’s carbon market. Therefore, our findings can help enhance emission reduction and achieve sustainable development of a low-carbon environment.
9
Zhou, Li Li. "China's Carbon Emissions Pricing Options: Based on Black-Scholes Model Testing." Advanced Materials Research 573-574 (October 2012): 1010–16. http://dx.doi.org/10.4028/www.scientific.net/amr.573-574.1010.
Анотація:
In this paper, by analyzing the cause of the weak power for China's carbon emissions, we design the trading and OTC options contracts of China's carbon emissions. By testing we found that the pricing method can indeed improve the pricing power of carbon emissions and acquire more transactions in negotiations .The policy implications of this article: Firstly, China should combine with domestic and international progress to plan the framework of China's carbon emissions trading as soon as possible. Secondly, we also launch the research of carbon emissions trading market and experimental work; the third, establishing trading center with the market-oriented to guide China's implementation of greenhouse gas emission reduction projects and to achieve Low-cost emission.
10
Long, Jia, Yi Shen, and Yongchang Liu. "Research on the effectiveness of Carbon Market Pilot Policies." Highlights in Business, Economics and Management 33 (May 9, 2024): 136–44. http://dx.doi.org/10.54097/trv35t42.
Анотація:
The carbon trading market is widely recognized as a crucial tool in the effort to combat climate change and alleviate greenhouse gas emissions. It is essential to evaluate its effectiveness in implementation. To achieve this aim, we utilized the Differences-in-Differences (DID) method to analyze carbon emission data spanning from 2007 to 2020 across various provinces in China. The primary objective is to empirically investigate the impact of China's carbon emissions trading mechanism on regional carbon emissions. Results show that the implementation of the carbon emissions trading mechanism has played a positive role in reducing carbon emissions. The research identifies a significant positive correlation between the level of economic development (GDP) and foreign direct investment (FDI) with carbon emissions. Additionally, there is a positive association between the volume of proposals addressing environmental issues and carbon emissions. In summary, this study provides valuable insights into the effectiveness of China's carbon emissions trading mechanism, offering important lessons for future policy development and the optimization of the carbon market.
11
Choi, Ki-Hong, and Seong-Min Yoon. "Analysis on the Efficiency of the Korean Carbon Emissions Market: Comparison with the European Emissions Market." Korean Data Analysis Society 25, no. 1 (February 28, 2023): 235–47. http://dx.doi.org/10.37727/jkdas.2022.25.1.235.
Анотація:
As the development of technologies that can reduce carbon emissions and the conversion of energy production methods have not produced particularly meaningful effects, major countries have high expectations for the effect of regulating the total amount of carbon emissions through the carbon emission market. Since Korea is a country that emits a lot of greenhouse gases, it operates a carbon emission market with a large transaction volume. For this market to show the expected effect, the movement of the emission permit price must be efficient. So this study analyzed whether the carbon emission market in Korea is efficient, comparing it with the European emission market. To this end, the time-varying Hurst exponent was measured using daily data of Korea's KAU and Europe's EUA Futures markets. The main results are summarized as follows. First, the degree of informational efficiency of the price movement of carbon emission market is time-varying. Second, in both the Korean and European carbon markets, transaction prices did not move randomly at many times, and there were many inefficient periods in both markets. Third, the long memory characteristics were stronger and the inefficiency was more severe in the KAU market than in the EUA market. Fourth, although the informational efficiency of KAU market has generally improved since 2022, it has not yet reached the level of efficiency implied by the efficient market hypothesis. These results mean that despite the government's efforts so far, the emission trading market is not functioning sufficiently. Therefore, it is necessary to continuously improve the emission trading system in a way that can reduce carbon emissions through the market function.
12
Chen, Dexu. "The Establishment of China's Carbon Emission Quota Futures Market." Advances in Economics, Management and Political Sciences 87, no. 1 (June 7, 2024): 43–48. http://dx.doi.org/10.54254/2754-1169/87/20240954.
Анотація:
As global climate change continues to intensify, carbon emission trading has garnered increasing attention from nations worldwide as an effective market-based mechanism. As the world's largest carbon emitter, China's establishment and development of a carbon emission quota futures market holds immense significance. In order to actively tackle climate change, promote the achievement of peak carbon neutrality in cities, enhance the control and management of greenhouse gas emissions, harmonize the regulation of pollutant emissions, and standardize carbon emission trading and associated activities, Beijing has formulated and issued specific Administrative Measures on Carbon Emission Trading. These measures are grounded in the Interim Regulations on the Administration of Carbon Emission Trading (Decree No. 775 of The State Council of the People's Republic of China), as well as the Decision of the Standing Committee of the Municipal People's Congress on the Pilot Work of Carbon Emission Trading in Beijing, which operates under the strict condition of controlling total carbon emissions. Additionally, these measures adhere to other pertinent laws and regulations and will take effect from May 1, 2024. Through these comprehensive measures, Beijing aims to further strengthen its commitment to sustainable development and mitigate the impact of climate change.
13
Zeng, Bingxin, Jun Xie, Xiaobing Zhang, Yang Yu, and Lei Zhu. "The impacts of emission trading scheme on China’s thermal power industry: A pre-evaluation from the micro level." Energy & Environment 31, no. 6 (November 4, 2019): 1007–30. http://dx.doi.org/10.1177/0958305x19882388.
Анотація:
Emission trading scheme is known as a cost-effective measure for mitigating CO2 emissions, and recently, China has started the world's largest carbon trading system. As the most influential industry in determining China's overall CO2 emission level, the thermal power industry will be greatly affected by nationwide carbon market in the near future. This paper explores the impact of the upcoming national emission trading scheme on China's thermal power industry at firm level. First, based on empirical data of 478 thermal power plants, an empirical analytical framework of micro-firm level is constructed. Then, two kinds of policy scenarios, including no carbon emission trading and national emission trading scheme, in two different market structures have been analyzed. The results show that emission trading scheme have positive impacts on reduction of CO2 emissions among China’s power plants and can reduce the total abatement costs by 0.37%–41.5%. Furthermore, most of the thermal power plants are emissions permits buyers including all the low-emission gas-fired power plants. Additionally, compared with the perfect competition market, more than 70% of thermal power plants increase their total abatement costs in imperfect competition market. These findings provide reference for promoting the development of nationwide carbon emission trading system in China.
14
Ge, Shengxian, Xianyu Yu, Dequn Zhou, and Xiuzhi Sang. "The Integrated Effect of Carbon Emissions Trading and Pollution Rights Trading for Power Enterprises—A Case Study of Chongqing." Sustainability 11, no. 11 (June 1, 2019): 3099. http://dx.doi.org/10.3390/su11113099.
Анотація:
To control growing environmental problems, the pollution rights trading (PRT) center was established in Jiaxing in 2007, and China officially joined the carbon emission reduction market (NCET) in 2011. Since power enterprises are the main participants in the NCET market and PRT market, the integrated effect of the NCET market and PRT market on power enterprise profit and the regional environment is one of the major issues that needs to be taken into consideration. Based on system dynamics (SD) theory, we propose an NCET-PRT simulation model for power enterprises in Chongqing. Through analyzing parameters of carbon trading price, free ratio, and emission trading prices, 12 different simulation scenarios are configured for sensitivity analysis. Based on the simulation results, the following observations can be obtained: (1) NCET and PRT can effectively promote the performance of enterprises’ carbon emissions reduction and regional pollutant emission reduction but will have a minor negative impact on the industrial economy at the same time; (2) The trading mechanism is interactive; if the carbon emissions trading (NCET) mechanism is implemented separately, the emission of pollutants will be reduced significantly. However, the implementation of pollution rights trading (PRT) alone cannot significantly reduce CO2 emissions; (3) At an appropriate level, NCET and PRT can be enhanced to achieve a maximum emissions reduction effect at a minimum economic cost.
15
SHI, Dan, Cheng ZHANG, Bo ZHOU, and Lu YANG. "The True Impacts of and Influencing Factors Relating to Carbon Emissions Rights Trading: A Comprehensive Literature Review." Chinese Journal of Urban and Environmental Studies 06, no. 03 (September 2018): 1850016. http://dx.doi.org/10.1142/s2345748118500161.
Анотація:
As an emissions abatement mechanism focusing on property rights theory and market trading methods, carbon emissions rights trading plays an important role in achieving low-carbon economic development, which has already garnered broad worldwide recognition. In the aftermath of the implementation of an initial, seven-province/city, carbon emissions rights trading pilot project, in 2017 China launched a carbon emissions trading rights market on a national basis. The authors of this paper provide a theoretical basis for research into this trading market’s impacts on energy conservation, reduction of emissions, and on economically sustaining, healthy development, from the following four perspectives: the history of the market’s development, a comparison of carbon reduction mechanisms associated with differing carbon tax levies, the effects of carbon emissions rights trading’s implementation, and the influencing factors on such trading. They systematically summarize, sort out, and evaluate the most recent, related carbon emissions rights trading literature, and then based on this analysis offer up insights regarding possible developments and refinements of future carbon emissions rights trading research.
16
Guiyuan, Xue, Wu Yin, Niu Wenjuan, Chen Chen, Zhu Xiaojun, and Tan Jian. "Analysis of the Impact of Carbon Emission Trading Mechanism on the Electricity Market under Dual Carbon Targets." Journal of Physics: Conference Series 2418, no. 1 (February 1, 2023): 012073. http://dx.doi.org/10.1088/1742-6596/2418/1/012073.
Анотація:
Abstract To achieve the goals of sustainable development and energy conservation and emission reduction, a model is constructed through system dynamics to explain the mechanism of the carbon emissions trading system and analyze the impact of the carbon emissions trading system on China’s electric power based on analyzing the relationship between the carbon market and the electricity market. The role of the market and the simulation of its policy effects it. The results show that the carbon emissions trading system has an impact on the on-grid electricity price, the installed capacity of renewable energy, and the installed capacity of thermal power generation in China’s power market. The establishment of a reasonable carbon emissions trading mechanism will have a positive impact on the development of China’s electricity market, which plays a long-term and effective role.
17
Bayer, Patrick, and Michaël Aklin. "The European Union Emissions Trading System reduced CO2 emissions despite low prices." Proceedings of the National Academy of Sciences 117, no. 16 (April 6, 2020): 8804–12. http://dx.doi.org/10.1073/pnas.1918128117.
Анотація:
International carbon markets are an appealing and increasingly popular tool to regulate carbon emissions. By putting a price on carbon, carbon markets reshape incentives faced by firms and reduce the value of emissions. How effective are carbon markets? Observers have tended to infer their effectiveness from market prices. The general belief is that a carbon market needs a high price in order to reduce emissions. As a result, many observers remain skeptical of initiatives such as the European Union Emissions Trading System (EU ETS), whose price remained low (compared to the social cost of carbon). In this paper, we assess whether the EU ETS reduced CO2 emissions despite low prices. We motivate our study by documenting that a carbon market can be effective if it is a credible institution that can plausibly become more stringent in the future. In such a case, firms might cut emissions even though market prices are low. In fact, low prices can be a signal that the demand for carbon permits weakens. Thus, low prices are compatible with successful carbon markets. To assess whether the EU ETS reduced carbon emissions even as permits were cheap, we estimate counterfactual carbon emissions using an original sectoral emissions dataset. We find that the EU ETS saved about 1.2 billion tons of CO2 between 2008 and 2016 (3.8%) relative to a world without carbon markets, or almost half of what EU governments promised to reduce under their Kyoto Protocol commitments. Emission reductions in sectors covered under the EU ETS were higher.
18
Chen, Jiajing. "Study on the Improvement of China's Carbon Emission Trading System under the Goal of "Double Carbon"." International Journal of Education and Humanities 14, no. 1 (May 14, 2024): 85–90. http://dx.doi.org/10.54097/k4rppp59.
Анотація:
September 2020, China announced to the world that it would achieve carbon peak by 2030 and carbon neutrality by 2060, and since then, China has formally stepped into the "dual-carbon" era. Against the background of the "dual-carbon" goal, carbon emissions trading is facing major adjustments in system functions, development goals, development stages, implementation levels, trading rules, scarcity creation, and safeguard mechanisms, as well as major opportunities for market-based development. In this regard, China not only needs to reform and improve the carbon trading system on the basis of the original immature carbon trading system, but also needs to cover more subjects to participate in the carbon emissions trading market, to achieve emission reduction, pollution reduction and synergistic governance through the market mechanism, and to grasp the key opportunity to transform the carbon market from a "policy market" to a "commodity market". The carbon market from "policy market" to "commodity market" to grasp the key opportunity to change, to achieve carbon trading energy saving and emission reduction benefits significantly enhance.
19
Ma, Zhongyu, Songfeng Cai, Weifeng Ye, and Alun Gu. "Linking Emissions Trading Schemes: Economic Valuation of a Joint China–Japan–Korea Carbon Market." Sustainability 11, no. 19 (September 26, 2019): 5303. http://dx.doi.org/10.3390/su11195303.
Анотація:
Linking carbon emissions trading systems across countries has become an important tool for global emission reduction. The three high-emission Asian countries, China, Japan, and South Korea (ROK), all have initiated carbon trading and published ambitious Intended Nationally Determined Contribution targets. Since 2016, the three countries have discussed establishing a long-term unified market for carbon emissions trading, and have sought a scheme for such exchange. This study aimed to investigate whether linking the carbon emissions trading systems of these three countries could potentially achieve more ambitious emission reduction targets. A dynamic energy-environmental version of the Global Trade Analysis Project model was used to simulate carbon market linkages across the three countries. The results indicated that a linked China–Japan–ROK carbon market would be highly cost-effective, have positive economic benefits for all three countries, and improve the carbon market’s liquidity and transaction scale. Under a scenario with no carbon market linking, the economic losses in China, Japan, and ROK would be $51.55 billion, $13.55 billion, and $74.19 billion, respectively. Meanwhile, with carbon trading linking, the losses would be reduced to $47.08 billion, $5.37 billion, and $9.10 billion, respectively. Therefore, a joint China–Japan–ROK carbon market could greatly promote the adoption of market-based tools for emission reduction.
20
He, Jiangxin, and Wenhao Zhao. "Research on The Path of Carbon Emission Trading in China Under The Double Carbon Background." Problemy Ekorozwoju 18, no. 1 (January 1, 2023): 81–88. http://dx.doi.org/10.35784/pe.2023.1.08.
Анотація:
With the continuous development of the global economy, the rapid deterioration of the global ecological environment has caused a huge impact on the future development of the world. In order to solve the problem of global warming and enhance the self-development capacity of all countries, based on the concept of sustainable development, China has set the ambitious goal of dual carbon. To this end, China is actively promoting the establishment of a national carbon emissions trading system.In response to low price competitiveness, such as nonstandard trading system, the influence of the development of the carbon emissions trading system in the future, should not only attach importance to enrich and strengthen the basic function of the carbon market, also continue to carbon pricing system and in-depth reform of the fiscal and taxation system, clear up the thoughts to the carbon market trading rules, is on its relevant rights and obligations, firmly adhere to steadily promote carbon market links between countries. Currently, China’s carbon emission trading is still in its infancy, and its effect is still limited in specific practice. Meanwhile, carbon emission trading markets in developed countries such as the United States and the United Kingdom have begun to implement carbon tariffs and other means to maintain their carbon borders. Therefore, the construction of carbon emission trading is necessary for development, but also for the sustainable development of the country.The lag of China’s carbon emission market leads to the worsening of the problem of carbon excess emissions of industries in the regions not covered, and the increased economic burden caused by the carbon barriers of other countries in foreign trade. Of course, this requires China take the path of sustainable development to continue to strengthen the system construction of carbon emission rights and promote the further optimization of their functions.
21
Chen, Gezi, Zhenhua Hu, Shijin Xiang, and Ailan Xu. "The Impact of Carbon Emissions Trading on the Total Factor Productivity of China’s Electric Power Enterprises—An Empirical Analysis Based on the Differences-in-Differences Model." Sustainability 16, no. 7 (March 28, 2024): 2832. http://dx.doi.org/10.3390/su16072832.
Анотація:
Based on the panel data of China’s listed electric power enterprises, this paper adopts the differences-in-differences model to empirically analyze the pilot policy of carbon emissions trading’s impact on the total factor productivity of power enterprises in 2013. The study finds that the carbon trading pilot policy has a significant positive effect on the total factor productivity of power companies, and the two possible impact mechanisms are external cost compensation and additional income, and internal low-carbon technology innovation and resource allocation optimization. The conclusions above have been further confirmed by the parallel trend test and robustness test. The heterogeneity analysis demonstrates that there are differences in the regression results between state-owned enterprises and nonstate-owned enterprises. The possible reason is that state-owned enterprises are more likely to be affected by the carbon emissions trading system, and their asset-heavy model puts greater pressure on carbon emission reduction. Therefore, their demand for low-carbon technology innovation is more urgent; areas with stricter carbon emission verification are more sensitive to the implementation of carbon trading, and a reasonable increase in carbon verification can make the carbon trading market more effective. Based on the research results, this paper proposes to speed up the improvement of the national carbon trading market system, enhance the diversity and richness of the main market, improve the liquidity of the carbon trading market, broaden financing channels for electric power enterprises, and improve the carbon market supervision mechanism.
22
Wu, Qiong, Kanittha Tambunlertchai, and Pongsa Pornchaiwiseskul. "Examining the Impact and Influencing Channels of Emission Trading Pilot Markets in China." 11th GLOBAL CONFERENCE ON BUSINESS AND SOCIAL SCIENCES 11, no. 1 (December 9, 2020): 136. http://dx.doi.org/10.35609/gcbssproceeding.2020.11(136).
Анотація:
The global warming has become a serious issue in the world since the 1980s. The targets for the first commitment period of the Kyoto Protocol cover emissions of the six main greenhouse gasses (GHGs). China is the world's largest CO2 emitter and coal consumer and was responsible for 27.3 percent of the global total CO2 emission and 50.6 percent of the global total coal consumption in 2016 (BP, 2017). As China plays an important role in the global climate change, China has set goals to improve its environmental efficiency and performance. In 2011, the Chinese government for the first time announced an intent to establish carbon emission trading market in China. Eight regional emission trading schemes have been operating since 2013 (seven pilot markets during the 12th Five Year Plan period and one pilot market during the 13th Five Year Plan period) including provinces of Guangdong, Hubei, and Fujian, and cities of Beijing, Tianjin, Shanghai, Shenzhen, and Chongqing. The goal of these regional emission trading pilot markets is to help the government establish an efficient carbon emission trading scheme at national level. Some researchers have been focused on examining the impact of emission trading schemes in China using CGE model by constructing different scenarios and ex-ante analysis using data prior to emission trading pilot markets implementation. While this paper tries to conduct an ex-post analysis with data of 2005-2017 to evaluate the impact of emission trading pilot markets in China at provincial level using difference-in-difference (DID) model. By including both CO2 and SO2 as undesirable outputs to calculate Malmquist-Luenberger (ML) Index to measure green total factor productivity, this paper plans to evaluate the impact of carbon emission trading pilot markets in China via emission reduction, regional green development, synergy effect and influencing channels. This paper tries to answer the following research questions: (1) Do emission trading pilot markets reduce CO2 emission and increase regional green total factor productivity? (2) Is there any synergy effect from emission trading pilot markets? (3) What are the influencing channels of emission trading pilot markets? Keywords: Emission trading, CO2 emissions, Different-in-difference
23
Zhu, Qi. "A Perspective of Evolution for Carbon Emissions Trading Market: The Dilemma between Market Scale and Government Regulation." Discrete Dynamics in Nature and Society 2017 (2017): 1–7. http://dx.doi.org/10.1155/2017/1432052.
Анотація:
Which means are more effective for reducing carbon emission? Our paper argues the effect of the government regulation and the market trading on the carbon emission. Based on our model, we obtain three conclusions as follows. First, government strengthened regulation can encourage firms to participate in the trading market for carbon emission. Second, there is the negative relation of supervision cost to trading price. Third, there is an alternative relationship between the scale economy level of the supervisory authority and that of the carbon emissions market. Meanwhile, our numerical simulations also confirm our results for our model analyses.
24
Du, Xinrui. "Empirical analysis of the effectiveness and liquidity of the European carbon emission rights futures market." Highlights in Business, Economics and Management 10 (May 9, 2023): 132–42. http://dx.doi.org/10.54097/hbem.v10i.8029.
Анотація:
Global warming from greenhouse gas emissions is a worldwide concern and the European Emissions Trading System (EU ETS) is the largest market in the world and has a model role. Some researchers have argued that the carbon emissions futures market was not weakly effective at the beginning of its establishment, but there is a lack of sufficient research on the effectiveness of the market in recent years. Therefore, this study analyses market effectiveness and liquidity by using positions, trading volumes and settlement prices for carbon futures from 2 January 2014 to 23 November 2022, and calculates log returns from settlement prices to construct an ARIMA model for verifying the market efficiency. The analysis finds that the carbon futures market satisfies weak form validity and that the market's macro liquidity and micro liquidity are gradually increasing, and the ARIMA model finds that there is a large seasonality factor in the market. This is mainly related to the maturity of the market, the improvement of the trading mechanism and the global consensus, providing constructive reference for the improvement of the carbon emission rights futures trading market and trading mechanism in China.
25
Tian, Jiaqi, Bonan Huang, Qiuli Wang, Pengbo Du, Yameng Zhang, and Bangpeng He. "A Multi-Agent Integrated Energy Trading Strategy Based on Carbon Emission/Green Certificate Equivalence Interaction." Sustainability 15, no. 22 (November 9, 2023): 15766. http://dx.doi.org/10.3390/su152215766.
Анотація:
To meet the demand for constructing a market mechanism that adapts to the integrated energy system and promotes market-oriented reforms in the energy sector, in-depth research on integrated energy trading strategies is required. This study focused on the integrated energy trading problem and clarify the relationships among participants in the integrated energy market. A regional integrated energy system model was established that enables trading of electricity, gas, heat, and cold, and propose a integrated energy trading strategy based on the carbon emissions/green certificate equivalence interaction. Firstly, the trading process of carbon emissions and green certificates, the underlying representation of green attributes, and market transaction prices are analyzed. Combining with a tiered carbon trading system that includes rewards and penalties, a carbon emissions/green certificate equivalence interaction mechanism is constructed. Secondly, the paper utilized the flexible characteristics of loads within the industrial park to establish a integrated energy demand response model for electricity, heat, and cold. Finally, with the objective of minimizing regional operating costs, a integrated energy trading model considering the carbon emissions/green certificate equivalence interaction mechanism was developed. In the simulation, the operating cost of the system is reduced by 4%, and the carbon emission is reduced by 11.4%, which verifies the effectiveness of the model.
26
Wang, Sen, and Jinye Li. "Can carbon emissions trading policy promote product bargaining power increases for high-carbon enterprises? Evidence from China." PLOS ONE 19, no. 6 (June 17, 2024): e0302916. http://dx.doi.org/10.1371/journal.pone.0302916.
Анотація:
Carbon emissions trading policies play a crucial role in facilitating the transition to high-end products within high-carbon enterprises. Nevertheless, current empirical analyses of the carbon emissions trading market exhibit a lack of precision and are susceptible to bias in their findings. Limited research has been conducted on the influence of product quality as a potential constraint on the impact of carbon trading on product bargaining power. This study presents a double-difference model utilizing data on emission-control enterprises in China’s carbon market to examine the influence of the carbon emissions trading mechanism on the bargaining power of high-carbon products. Empirical analysis is conducted using financial data from listed companies in China spanning the years 2010 to 2020. The findings indicate that the implementation of carbon emissions trading policies has a dampening impact on the product bargaining power of high-carbon enterprises. Moreover, carbon emissions trading policies have heterogeneous effects on the product bargaining power of high-carbon firms with different life cycles, with mature high-carbon firms receiving a boost and declining high-carbon firms receiving a dampening effect. Mechanism test finds that the incomplete transmission effect of cost shocks resulting from carbon emissions trading policies has negatively affect the product bargaining power of high-carbon enterprises. Further research finds that product quality is a key factor in determining the effect of the carbon emissions trading policy, and that the impact of the carbon emissions trading policy on the bargaining power of products of high-carbon firms takes on a "U" shape due to product quality. Once the product quality exceeds the bottleneck value of 0.5956, the policy significantly increases the bargaining power of products. The study confirms that the establishment of carbon markets can effectively increase the bargaining power of superior products. These results offer a comprehensive theoretical and practical foundation for nations to advance the development of carbon markets and facilitate the achievement of sustainable development by high-carbon enterprises.
27
Wang, Hao-Ran, Tian-Tian Feng, Yan Li, Hui-Min Zhang, and Jia-Jie Kong. "What Is the Policy Effect of Coupling the Green Hydrogen Market, National Carbon Trading Market and Electricity Market?" Sustainability 14, no. 21 (October 27, 2022): 13948. http://dx.doi.org/10.3390/su142113948.
Анотація:
Green hydrogen has become the key to social low-carbon transformation and is fully linked to zero carbon emissions. The carbon emissions trading market is a policy tool used to control carbon emissions using a market-oriented mechanism. Building a modular carbon trading center for the hydrogen energy industry would greatly promote the meeting of climate targets. Based on this, a “green hydrogen market—national carbon trading market–electricity market” coupling mechanism is designed. Then, the “green hydrogen market—national carbon trading market–electricity market” mechanism is modeled and simulated using system dynamics. The results are as follows: First, coupling between the green hydrogen market, carbon trading market and electricity market can be realized through green hydrogen certification and carbon quota trading. It is found that the coupling model is feasible through simulation. Second, simulation of the basic scenario finds that multiple-market coupling can stimulate an increase in carbon price, the control of thermal power generation and an increase in green hydrogen production. Finally, the proportion of the green hydrogen certification, the elimination mechanism of outdated units and the quota auction mechanism will help to form a carbon pricing mechanism. This study enriches the green hydrogen trading model and establishes a multiple-market linkage mechanism.
28
Cheng, Xiao, Yanping Pu, and Ran Gu. "Effect of Shanxi pilot emission trading scheme on industrial soot and dust emissions: A synthetic control method." Energy & Environment 31, no. 3 (September 19, 2019): 461–78. http://dx.doi.org/10.1177/0958305x19876682.
Анотація:
To launch the nationwide emission trading scheme, some provinces in China were approved to design their pilot work for emission trading scheme according to local circumstances. Shanxi Province is the only pilot area with provincial trading market for industrial soot and dust emissions. This paper investigates the effect of Shanxi Pilot emission trading scheme on industrial soot and dust emissions by using the synthetic control method. The idea behind the synthetic control approach is to construct a combination of comparison cities to approximate the emission paths that the cities in Shanxi would have experienced in the absence of the pilot emission trading scheme. We demonstrate that, following Shanxi Pilot emission trading scheme, industrial soot and dust emissions fell markedly in Taiyuan, Datong, and Linfen relative to the synthetic counterparts. The finding that emission trading scheme can help achieve emission reduction targets is shown to be robust to the reduction in the number of control units, placebo tests, and difference-in-differences estimation.
29
Tang, Jiangying. "Option Pricing Practices Based on the B-S-M Model in Carbon Markets." Highlights in Business, Economics and Management 21 (December 12, 2023): 21–26. http://dx.doi.org/10.54097/hbem.v21i.13599.
Анотація:
Carbon trading refers to the buying and selling of carbon emission allowances, stimulating businesses to adopt low-carbon development strategies through price signals. By allocating limited emission allowances to emitters, the carbon market encourages the reduction of carbon emissions to achieve emission reduction targets. Market participants can compensate for emissions exceeding their own quotas by trading carbon emission allowances, thus minimizing the cost of emission reductions. The Chinese carbon market has a large trading volume and numerous development opportunities, but currently, the carbon financial market is not fully open. In comparison to Western countries, China lacks carbon emission derivatives such as futures, options, and swap contracts. The risk and return of carbon emission allowance options are estimated and managed using the B-S-M option pricing model. This paper utilizes data from the Shenzhen Carbon Emission Allowance Exchange as a sample to conduct option pricing practices for carbon emission allowances using the B-S-M model. The aim is to promote research and development in the carbon emission allowance market and contribute to the achievement of emission reduction goals.
30
Ilić, Dragan, and Janick Christian Mollet. "Voluntary corporate climate initiatives and regulatory threat." International Economics and Economic Policy 19, no. 1 (October 27, 2021): 157–84. http://dx.doi.org/10.1007/s10368-021-00519-0.
Анотація:
AbstractDoes participation in voluntary environmental initiatives affect firm value? We take a closer look at the Chicago Climate Exchange (CCX) and the Climate Leaders (CL), two US initiatives to curb carbon emissions that were operating during a decisive regulatory event. In 2009 the Waxman-Markey Bill surprisingly passed the House of Representatives and brought the US economy a big step closer to a nationwide CO2 emission trading system. With an event study we assess how the stock market valued membership in the initiatives when the likelihood of CO2 regulation unexpectedly increased. Our findings suggest that only membership in the market-based CCX was considered beneficial for a mandated carbon market. This is consistent with research that equity-based regulation through financial markets can help economies favor clean industries over dirty ones. We interpret the empirical results in a simple model. Adding earlier market reactions to the firms’ membership announcements, the model implies that the market had been betting on a mandatory emission trading system all along.
31
Zhu, Yong, Yun Feng Zou, and Yan Hua Zhang. "Initial Allocation of Emission Rights Difficulties and Solution Strategies." Advanced Materials Research 550-553 (July 2012): 3413–19. http://dx.doi.org/10.4028/www.scientific.net/amr.550-553.3413.
Анотація:
Being as a China's environmental management policy Emissions trading system is an important innovation, it has been adopt for many years, but the initial allocation of emission rights is becoming a constraining bottleneck in the implementation of China's emissions trading depth. In this paper, tracing the initial allocation of emission rights at home and abroad related to the theory and practice based on the analysis of our initial allocation of emission rights by the current difficulties exist. This legislation recognized property rights from the environment. The environmental capacity of the scientific definition, and market-based emissions trading and other dimensions of proposed initial allocation of emission rights to promote a fair, impartial and efficient response to protect its trade measures to promote domestic emissions trading depth provides a new idea.
32
Duan, Chener, Yiran Mi, and Ziye Lan. "Analysis models for China's carbon trading market: comparison and outlook." IOP Conference Series: Earth and Environmental Science 1011, no. 1 (April 1, 2022): 012012. http://dx.doi.org/10.1088/1755-1315/1011/1/012012.
Анотація:
Abstract At the national and international levels, human-induced climate change has become a significant political concern, with the large rise in carbon dioxide concentration being a pressing issue that must be addressed. Carbon trading has shown to be one of the most successful strategies to accomplish energy saving and emission reduction as a flexible tool for dealing with climate change. As the nation with the highest carbon emissions today, China’s research on its carbon trading market has a guiding significance to the globe. The study findings of different models focusing on carbon trading markets are presented from three aspects: carbon emission reduction efficiency, carbon market efficiency, and internal information change trends in the carbon market. The results show that the efficiency of China’s pilot carbon market is currently poor, with just a mediocre efficiency attained. The existing carbon market’s key issues are its low transaction volume and weak market liquidity. Based on the comprehensive review of and comparison among existing models studying the carbon trading market, we proposed plausible suggestions for future research directions and development methods of the carbon trading market, including the utilization of carbon tax, improved market transparency, and government oversight.
33
André, Francisco J., and Luis Miguel de Castro. "Market Power in Output and Emissions Trading." Games 11, no. 4 (October 12, 2020): 43. http://dx.doi.org/10.3390/g11040043.
Анотація:
This article focuses on the strategic behavior of firms in the output and the emissions markets in the presence of market power. We consider the existence of a dominant firm in the permit market and different structures in the output market, including Cournot and two versions of the Stackelberg model, depending on whether the permit dominant firm is a leader or a follower in the output market. In all three models, the firm that dominates the permit market is more sensitive to its initial allocation than its competitor in terms of abatement and less sensitive in terms of output. In all three models, output is decreasing and the permit price is increasing in the permit dominant firm’s initial allocation. In the Cournot model, permit dominance is fruitless in terms of output and profit if the initial allocation is symmetric. Output leadership is more relevant than permit dominance since an output leader always tends to, ceteris paribus, produce more and make more profit whether it also dominates the permit market or not. This leadership can only be overcompensated for by distributing a larger share of permits to the output follower, and only if the total number of permits is large enough. In terms of welfare, Stackelberg is always superior to Cournot. If the initial permit allocation is symmetric, welfare is higher when the same firm dominates the output and the permit market at the same time.
34
Liu, Dan, Fan Xiao, Junzhao Wu, Xiaotong Ji, Ping Xiong, Mingnian Zhang, and Yiqun Kang. "Electricity-Carbon Joint Trading of Virtual Power Plant with Carbon Capture System." International Transactions on Electrical Energy Systems 2023 (April 19, 2023): 1–13. http://dx.doi.org/10.1155/2023/6864403.
Анотація:
With the establishment and rapid development of the national carbon emission trading market, new energy system participates in the carbon emission trading market. Analysing the potentiality of virtual power plant trading in carbon emission trading market, this paper designs a two-stage joint trading mechanism for electricity and carbon market with a weekly cycle according to their characteristics, which contain multiple transaction types for both markets. In addition, this paper introduces a carbon capture system (CCS) in gas turbine, which reduces the actual carbon emissions and increases the carbon market income of virtual power plant. Furthermore, it improves the comprehensive and flexible operation capability by adjusting the operation level of CCS, which is conducive to the timely consumption of renewable energy. Aiming at the uncertainty of renewable energy output and electricity price, the paper adopts a multiscenario analysis method to deal with it and establishes a stochastic optimization model to maximize joint earnings. Finally, through example analysis with GAMS, the effectiveness of the scheduling model is verified with simulation results. The overall income of the virtual power plant is improved, and the low carbon power is realized.
35
Lee, Yun-Jung, Neung-Woo Kim, Ki-Hong Choi, and Seong-Min Yoon. "Analysis of the Informational Efficiency of the EU Carbon Emission Trading Market: Asymmetric MF-DFA Approach." Energies 13, no. 9 (May 1, 2020): 2171. http://dx.doi.org/10.3390/en13092171.
Анотація:
This study explores the degree and change of informational efficiency of the European Union (EU) carbon emission trading market using an asymmetric multifractal detrended fluctuation analysis (A-MF-DFA) method, which allows asymmetry. For this purpose, we analysed the daily price series of the European Emissions Market, which is operated according to the European Union Emissions Trading Scheme. This carbon market is the most active and has the largest trading volume. The data covers the period (from 4 August 2005 to 31 December 2019). The main results are summarised as follows. First, there is a multifractal feature in the price return movements of the EU carbon trading market, which behaves differently in the upward and downward periods of the market. Second, the informational efficiency of the carbon emission market has changed over time, with Phase I having the lowest informational efficiency and Phase III having the highest informational efficiency. These results indicate that informational efficiency has increased as the carbon emission market matures. Third, from the result of the market deficiency measure (MDM), Phase I showed the lowest market efficiency, whereas Phase III showed the highest efficiency. During Phase III, the MDM values of the upward period were higher than that of the downward period, implying higher market inefficiency during the upward period.
36
Chen, Jian, and Maoguan Li. "Study on China's Carbon Emission Trading Market Development under the Globalization." Journal of Finance Research 1, no. 1 (October 16, 2017): 36. http://dx.doi.org/10.26549/jfr.v1i1.383.
Анотація:
This paper starts by describing China's carbon emissions trading market development history, reveals the existence of its development problems, then, analyzes the experience of successful establishment of the European and American national carbon emissions trading market. At last, this paper recommends for a call of unified effort to improve domestic carbon emissions trading market system.
37
Ciesielska-Maciągowska, Dorota, Dawid Klimczak, and Małgorzata Skrzek-Lubasińska. "Central and Eastern European CO2 Market—Challenges of Emissions Trading for Energy Companies." Energies 14, no. 4 (February 17, 2021): 1051. http://dx.doi.org/10.3390/en14041051.
Анотація:
The aim of this article was to identify challenges of emissions trading that the Polish and CEE Central and Eastern Europe energy industry will face, as well as to indicate key implications for the competitiveness of the companies from the energy sector resulting from that trading. The EU Emissions Trading Scheme (ETS) is the emissions trading system, which results from the EU policy concerning climate change. It is a tool for reducing greenhouse gas emissions (GHG). The system regulates an annual allocation of the allowances. The price of CO2 emission allowances is subject to constant fluctuations because it depends on various macroeconomic factors as well as is an effect of proprietary trading by global investment banks. Polish energy companies have an increasing share in the emission of CO2 in the European market. This is due to the fact that other European countries are rapidly moving away from fossil fuel-fired sources. The cost per MWh related to CO2 price has been growing in the last 10 years from ca. 5 up to 30 EUR/MWh at the beginning of 2021. From an electric power utilities perspective, the ability to set up a proper strategy in trading CO2 will be crucial to be competitive in the wholesale power market. The higher price of CO2 (and electric power) at the domestic market in relation to more green (more renewable energy sources RES in energy mix) surrounding countries translates into a worse competitive position.
38
Tang, Anbao, and Ning Xu. "The Impact of Environmental Regulation on Urban Green Efficiency—Evidence from Carbon Pilot." Sustainability 15, no. 2 (January 6, 2023): 1136. http://dx.doi.org/10.3390/su15021136.
Анотація:
This article measures the green total factor productivity of 30 provinces (cities) in China from 2008 to 2018 based on the DEA superefficient nonexpected output model, utilizes the carbon emissions trading pilot policy as a quasi-natural experiment, and uses the multiperiod double-difference model and spatial econometric approach to test the effectiveness of carbon emissions trading policy. The results found that carbon emissions trading policies can significantly improve the GTFP of the pilot regions through three main approaches: adjusting the energy mix, improving resource misallocation, and promoting green technological innovation. The market mechanism measured by carbon price and the government administrative intervention measured by fiscal dependence will increase regional GTFP. The spatial and temporal evolution pattern analysis and DSDM show a “pollution refuge” effect in the initial stage of carbon emissions trading; however, the carbon trading pilot can form a demonstration effect in neighbouring areas and promote the improvement of GTFP in neighbouring areas afterwards. The study will help enrich the performance evaluation framework of carbon emission trading policies and further improve the institutional construction of the national carbon market.
39
Liu, Weiming, Yating Qiu, Lijiang Jia, and Hang Zhou. "Carbon Emissions Trading and Green Technology Innovation—A Quasi-natural Experiment Based on a Carbon Trading Market Pilot." International Journal of Environmental Research and Public Health 19, no. 24 (December 12, 2022): 16700. http://dx.doi.org/10.3390/ijerph192416700.
Анотація:
Carbon emissions trading policy has received widespread attention from scholars as a core policy tool to reduce carbon emissions. While most scholars have previously focused on the carbon emission reduction effect, this paper investigates the impact of carbon emissions trading policy on green technology innovation using a differences-in-differences method based on provincial panel data from 2005–2019, using a carbon emissions trading pilot as a quasi-natural experiment. The findings show that the policy can significantly promote green technology innovation, but with a lagged effect, and this finding still holds in the robustness test. Further heterogeneity analysis reveals that the stronger the human capital, the stronger the intellectual property protection and the stronger the marketization with better policy effects. In addition, carbon emissions trading policy can indirectly affect green technology innovation by influencing research investment.
40
Tang, Kunli. "The Carbon Emission Reduction Effect of Carbon Emission Trading Policy in China." Highlights in Business, Economics and Management 18 (October 15, 2023): 76–91. http://dx.doi.org/10.54097/hbem.v18i.12400.
Анотація:
The carbon emission trading policy attributes carbon dioxide emission rights to commodities, representing an important exploration to reduce carbon emissions by the market mechanism. Since 2013, China has implemented the carbon emission trading policy. In order to study whether the carbon emission reduction effect of emission trading policy in pilot areas and what is the pathway, this paper uses multi-period difference-in-differences method and the medintion effect method. An empirical analysis of panel data from 283 prefecture-level cities in China between 2006 and 2019.The research findings demonstrate that: (1) The policy about carbon emission trading significantly reduced carbon emissions,which is still valid after a series of robustness tests, and had a synergistic effect. (2) The policy primarily promotes carbon dioxide emission reduction through innovation in green technology and adjustments in industrial structure. (3) In comparison to the eastern and western regions, the policy performs better in central regions. Furthermore, the effectiveness of emission reduction depends on the intensity of environmental regulations, thus, stricter regulations are more conducive to carbon reduction. This paper provides strong evidence to the expansion of carbon emission trading pilots, and guides the operation of carbon emission trading market in China.
41
Wei, Qi, and Man Man Tian. "Building Carbon Emissions Trading System for China under the Experience of EU Emissions Trading System." Applied Mechanics and Materials 411-414 (September 2013): 2505–10. http://dx.doi.org/10.4028/www.scientific.net/amm.411-414.2505.
Анотація:
Along with the rapid development of economy, China has become the leading emitter of greenhouse gases in the world. Carbon emissions trading system is an important tool and means to response to climate change effectively and reduce greenhouse gas emissions. At present, Chinese carbon trading market is still in its infancy, and there are many deficiencies: legal system is imperfect and carbon source monitoring regulation is lax, the variety of trading is single, China does not have pricing power of carbon emissions and the layouts of trading platform are not reasonable. Through using the implementation experience of the EU emissions trading system, we construct Chinese carbon trading mechanism based on total control principle: voluntary trading market should be carried out fist and mandatory transaction will be implemented when market condition is sufficient. According to the quotas allocation from free to auction, mandatory transaction shall be implemented in there stages.
42
Newell, Richard G., William A. Pizer, and Daniel Raimi. "Carbon Markets 15 Years after Kyoto: Lessons Learned, New Challenges." Journal of Economic Perspectives 27, no. 1 (February 1, 2013): 123–46. http://dx.doi.org/10.1257/jep.27.1.123.
Анотація:
Carbon markets are substantial and they are expanding. There are many lessons from market experiences over the past eight years: there should be fewer free allowances, better management of market-sensitive information, and a recognition that trading systems require adjustments that have consequences for market participants and market confidence. Moreover, the emerging market architecture features separate emissions trading systems serving distinct jurisdictions and a variety of other types of policies exist alongside the carbon markets. This situation is in sharp contrast to the top-down, integrated global trading architecture envisioned 15 years ago by the designers of the Kyoto Protocol and raises a suite of new questions. In this new architecture, jurisdictions with emissions trading have to decide how, whether, and when to link with one another. Stakeholders and policymakers must confront how to measure the comparability of efforts among markets as well as relative to a variety of other policy approaches. International negotiators must in turn work out a global agreement that can accommodate and support increasingly bottom-up approaches to carbon markets and climate change mitigation.
43
Li, Lu, Jie Dong, and Yan Song. "Impact and Acting Path of Carbon Emission Trading on Carbon Emission Intensity of Construction Land: Evidence from Pilot Areas in China." Sustainability 12, no. 19 (September 23, 2020): 7843. http://dx.doi.org/10.3390/su12197843.
Анотація:
Recently, the environmental and resource crisis caused by excessive energy consumption has aroused great concern worldwide. China is a major country of energy consumption and carbon emissions, and has attempted to build a carbon emission trading market to reduce carbon emissions. This practice helps to promote the carbon trading projects for both regional carbon emission reduction and sustainable development in the pilot areas, as well as having important theoretical and practical significance for the further improvement of carbon emission trading policies. In this study, we first used the difference-in-difference (DID) model to evaluate the impact of carbon emission trading on the carbon emission intensity of construction land (CEICL). The results showed that the carbon emission trading policy can significantly reduce CEICL in the pilot areas. Furthermore, we adopted the quantile regression model to explore the mechanism and acting path of carbon emission trading on CEICL. The results show that the increase in carbon trading volume (CTV) can effectively reduce the CEICL. However, a high carbon trading price (CTP) tends to reduce the suppressing effect of carbon emission trading on CEICL. Additionally, carbon emission trading also affects CEICL through the indirect acting paths of industrial structure and energy intensity. Finally, we propose to promote regional low-carbon development from the perspective of developing a carbon emission trading market nationwide, rationalizing the carbon quota and trading price mechanism, optimizing the regional industrial structure, and improving the energy consumption structure.
44
Li, Jiajia, and Junjie Zhang. "Regional Cooperation on Carbon Markets in East Asia." Asian Development Review 35, no. 2 (August 2018): 153–79. http://dx.doi.org/10.1162/adev_a_00118.
Анотація:
The People's Republic of China, Japan, and the Republic of Korea have launched individual emission trading schemes to control greenhouse gas emissions cost-effectively. This paper reviews key carbon market design elements in the three countries in terms of emission allowances, covered sectors, allowance allocations, monitoring, reporting and verification, compliance and penalties, and offset markets. We assess the performances of the emission trading schemes among the three countries based on secondary-market allowance transactions. Considering heterogeneous climate policy designs in the region, we explore various approaches for the linkage of East Asian carbon markets. Cooperation on carbon markets is instrumental for regional and global climate governance. It could not only help achieve cost-effective emission reductions in the region, but also signal the commitment of the three countries to climate change mitigation.
45
Wang, Luqi. "Exploration of the Initial Allocation Scheme of Carbon Emission Rights in China: International Experience and Policy Implications." Advances in Economics, Management and Political Sciences 73, no. 1 (April 19, 2024): 343–47. http://dx.doi.org/10.54254/2754-1169/73/20230619.
Анотація:
Along with the continuous development of the pilot carbon trading market and the construction of a uniform CET market, it is essential to establish a reasonable allocation method for carbon emissions consistent with the development of the CET market in China. The reasonable allocation of carbon allowances is a key means to ensure the efficiency of the carbon emission trading system. China's carbon emission trading market is still in its initial phase, and there are still some problems to be improved in terms of carbon quotas. This paper compares the allocation system of China's carbon emission rights with that of the international carbon emission rights allocation system. It compellingly explores China's carbon emission right allocation system in recent years. Based on the strict baseline requirements, the paper makes innovative proposals to allocate carbon emission allowances based on auction allocation, supplement them with free distribution, and provides reasonable suggestions for developing the trading market of carbon emission rights in China.
46
Zaklan, Aleksandar. "Coase and Cap-and-Trade: Evidence on the Independence Property from the European Carbon Market." American Economic Journal: Economic Policy 15, no. 2 (May 1, 2023): 526–58. http://dx.doi.org/10.1257/pol.20210028.
Анотація:
I examine the Coasean independence property in a large multinational cap-and-trade scheme for greenhouse gas emissions, the EU Emissions Trading System. I analyze whether emissions of power producers are independent from allowance allocations by leveraging a change in allocation policy for a difference-in-difference strategy. The evidence suggests that the independence property holds overall and for larger emitters and that firms respond to the loss in allocation by increasing allowance purchases. Suggestive evidence for small emitters indicates that trading costs or behavioral bias distorts their emission decisions. However, their small emission share leaves the independence property intact at the sector level. (JEL L94, L98, Q48, Q51, Q54, Q58)
47
Liu, Guo Zhong. "Impacts of Emission Trading on Optimal Bidding Strategies of Generation Companies in Day-Ahead Electricity Markets." Applied Mechanics and Materials 521 (February 2014): 476–79. http://dx.doi.org/10.4028/www.scientific.net/amm.521.476.
Анотація:
The impacts of Emission trading on building the optimal bidding strategy for a generation company participating in a day-ahead electricity market is investigated. The CO2 emission price in an emissions trading market is evaluated by using an optimization approach similar to the well-developed probabilistic production simulation method. Then upon the assumption that the probability distribution functions of rivals bidding are known, a stochastic optimization model for building the risk-constrained optimal bidding strategy for the generation company in the framework of the chance-constrained programming is presented. Finally, a numerical example is served for demonstrating the feasibility of the developed model and method, and the optimal bidding results are compared for the two situations with and without the CO2 emissions trading.
48
Wang, Yaohan. "Development of China's Carbon Finance Market and International Experience." Advances in Economics, Management and Political Sciences 24, no. 1 (September 13, 2023): 246–50. http://dx.doi.org/10.54254/2754-1169/24/20230445.
Анотація:
Carbon finance, a crucial component of the carbon market, substantially supports carbon trading and the reduction of carbon emissions. Global carbon market structure has advanced over the past ten years based on experience from around the world. Although China's carbon emission trading system has been initially established, there are still deficiencies in its laws and regulations, trading mechanisms and other aspects. This paper analyzes the current situation and problems of the development of China's carbon finance market in light of the successful experience of the development of mature carbon markets in the international arena, and draws lessons from the experience applicable to China's carbon trading and carbon finance. At present, China's carbon financial market is in a rapid development stage. Many product and system innovations have been made in the process of carbon trading pilot construction, and a series of results have been achieved. Nevertheless, there are still problems such as the lack of carbon market activity, and international experience has brought to the development of China's carbon finance market the experience of establishing rich market participants and clarifying the attributes of carbon finance.
49
Pizer, William A., and Xiliang Zhang. "China’s New National Carbon Market." AEA Papers and Proceedings 108 (May 1, 2018): 463–67. http://dx.doi.org/10.1257/pandp.20181029.
Анотація:
On December 19, 2017, China announced the official start of its national emissions trading system (ETS) construction program. When fully implemented, this program will more than double the volume of worldwide carbon dioxide emissions covered by either tax or tradable permit policy. Many of program's design features reflect those of China's pilot programs but differ from those of most emissions trading programs in the United States and Europe. This paper explains the context and design of China's new carbon market, discusses implications and possible modifications, and suggests topics for further research.
50
Lee, Kwang-Ho. "Analysis on Competitive Electricity Market with Emissions Trading Market." Transactions of The Korean Institute of Electrical Engineers 69, no. 4 (April 30, 2020): 542–48. http://dx.doi.org/10.5370/kiee.2020.69.4.542.