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Towards a successful international greenhouse gas emissions trading

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  • Zhang, ZhongXiang

Abstract

The inclusion of emissions trading in the Kyoto Protocol reflects an important decision to address climate change issues through flexible market mechanisms. In this paper, we have addressed 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 amounts of GHG emissions can be traded internationally; emissions trading models; competitiveness concern in the allocation of emissions permits; banking and borrowing; accountability; emissions trading system enlargement; and bubbles. Although our focus has been exclusively on emissions trading, we have discussed its relationship with the clean development mechanism, joint implementation and bubbles wherever necessary. By providing some new insights, the paper aims to contribute to the design and operationlization of an international emissions trading scheme.

Suggested Citation

  • Zhang, ZhongXiang, 1998. "Towards a successful international greenhouse gas emissions trading," MPRA Paper 13023, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:13023
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    References listed on IDEAS

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    1. Cramton, Peter & Kerr, Suzi, 2002. "Tradeable carbon permit auctions: How and why to auction not grandfather," Energy Policy, Elsevier, vol. 30(4), pages 333-345, March.
    2. 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.
    3. ZhongXiang Zhang, 1998. "The Economics of Energy Policy in China," Books, Edward Elgar Publishing, number 1291.
    4. William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39, October.
    5. 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.
    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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    Cited by:

    1. Zhang, Zhong Xiang, 2012. "Competitiveness and Leakage Concerns and Border Carbon Adjustments," International Review of Environmental and Resource Economics, now publishers, vol. 6(3), pages 225-287, December.
    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. Wenxiao Chu & Maria Vicidomini & Francesco Calise & Neven Duić & Poul Alborg Østergaard & Qiuwang Wang & Maria da Graça Carvalho, 2022. "Recent Advances in Technologies, Methods, and Economic Analysis for Sustainable Development of Energy, Water, and Environment Systems," Energies, MDPI, vol. 15(19), pages 1-24, September.
    4. ZhongXiang Zhang & Lucas Assunção, 2004. "Domestic Climate Policies and the WTO," The World Economy, Wiley Blackwell, vol. 27(3), pages 359-386, March.
    5. Christopher M. Dent, 2021. "Trade, Climate and Energy: A New Study on Climate Action through Free Trade Agreements," Energies, MDPI, vol. 14(14), pages 1-30, July.

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    More about this item

    Keywords

    Bubbles; carbon tax; clean development mechanism; emissions trading; greenhouse gases; international competitiveness; joint implementation; Kyoto Protocol;
    All these keywords.

    JEL classification:

    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • 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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