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Regional Cooperation on Carbon Markets in East Asia

Author

Listed:
  • Jiajia Li

    (Assistant Professor, College of Economics, Sichuan Agricultural University. Author email: jiajia_li108@hotmail.com)

  • Junjie Zhang

    (Associate Professor, Environmental Research Center, Duke Kunshan University and Nicholas School of the Environment, Duke University. Author email: junjie.zhang@duke.edu.)

Abstract

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.

Suggested Citation

  • Jiajia Li & Junjie Zhang, 2018. "Regional Cooperation on Carbon Markets in East Asia," Asian Development Review, MIT Press, vol. 35(2), pages 153-179, September.
    • Handle: RePEc:tpr:adbadr:v:35:y:2018:i:2:p:153-179
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    File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/adev_a_00118
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    Citations

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    Cited by:

    1. Youwei Yuan & Lanying Du & Xiumei Li & Fan Chen, 2022. "An Evolutionary Game Model of the Supply Decisions between GNPOs and Hospitals during a Public Health Emergency," Sustainability, MDPI, vol. 14(3), pages 1-23, January.
    2. Sin Tian Ho, Cynthia & Berggren, Björn, 2019. "The influence of bank branch closure on entrepreneurship sustainability," Working Paper Series 19/7, Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance.
    3. Jiajia Li & Abbas Ali Chandio & Yucong Liu, 2020. "Trade Impacts on Embodied Carbon Emissions—Evidence from the Bilateral Trade between China and Germany," IJERPH, MDPI, vol. 17(14), pages 1-19, July.

    More about this item

    Keywords

    carbon markets; climate change; East Asia; linkage;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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