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Lessons learned from Chinas regional carbon market pilots

Author

Listed:
  • Junjie Zhang
  • Zhenxuan Wang
  • Xinming Du

Abstract

This paper gives an overview of the performance of China's seven regional carbon market pilots and the range of approaches they have used. We assessed the outcomes of these pilots using publicly available secondary market trading data. The differences in market performance are explained by the design of key market elements such as emission allowances, covered sectors, allowance allocation, monitoring, reporting and verification, compliance and penalties, and offset market. The lessons learned from the regional carbon market pilots are used to provide insights that can aid in the design of the upcoming national carbon market.

Suggested Citation

  • Junjie Zhang & Zhenxuan Wang & Xinming Du, 2017. "Lessons learned from Chinas regional carbon market pilots," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 2).
    • Handle: RePEc:aen:eeepjl:eeep6-2-zhang
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    Citations

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    Cited by:

    1. Liu, Menghe & Li, Yuxiao, 2022. "Environmental regulation and green innovation: Evidence from China's carbon emissions trading policy," Finance Research Letters, Elsevier, vol. 48(C).
    2. Andreas Löschel & Jiansuo Pei & Ran Wang & Bodo Sturm & Wolfgang Buchholz & Zhongxiu Zhao, 2021. "The Demand for Global and Local Environmental Protection: Experimental Evidence from Climate Change Mitigation in Beijing," Land Economics, University of Wisconsin Press, vol. 97(1), pages 137-154.
    3. Kayisoglu, Gizem & Gunes, Bunyamin & Besikci, Elif Bal, 2022. "SLIM based methodology for human error probability calculation of bunker spills in maritime operations," Reliability Engineering and System Safety, Elsevier, vol. 217(C).
    4. Wu, Rongxin & Tan, Zhizhou & Lin, Boqiang, 2023. "Does carbon emission trading scheme really improve the CO2 emission efficiency? Evidence from China's iron and steel industry," Energy, Elsevier, vol. 277(C).
    5. Ambec, Stefan, 2022. "The European Union’s Carbon Border Adjustment Mechanism: Challenges and Perspectives," TSE Working Papers 22-1365, Toulouse School of Economics (TSE).
    6. Qi, Xiaoyuan & Han, Ying, 2023. "Research on the evolutionary strategy of carbon market under “dual carbon” goal: From the perspective of dynamic quota allocation," Energy, Elsevier, vol. 274(C).
    7. Zhixiong Weng & Cuiyun Cheng & Yang Xie & Hao Ma, 2022. "Reduction Effect of Carbon Emission Trading Policy in Decreasing PM 2.5 Concentrations in China," IJERPH, MDPI, vol. 19(23), pages 1-12, December.
    8. Wang, M. & Zhou, P., 2022. "A two-step auction-refund allocation rule of CO2 emission permits," Energy Economics, Elsevier, vol. 113(C).
    9. Wenwen Zhang & Shichun Xu & Zhengxia He & Basil Sharp & Bin Zhao & Shuxiao Wang, 2019. "Impacts of U.S. Carbon Tariffs on China’s Foreign Trade and Social Welfare," Sustainability, MDPI, vol. 11(19), pages 1-21, September.
    10. Goulder, Lawrence H. & Long, Xianling & Lu, Jieyi & Morgenstern, Richard D., 2022. "China's unconventional nationwide CO2 emissions trading system: Cost-effectiveness and distributional impacts," Journal of Environmental Economics and Management, Elsevier, vol. 111(C).
    11. Jin, Yana & Liu, Xiaorui & Chen, Xiang & Dai, Hancheng, 2020. "Allowance allocation matters in China's carbon emissions trading system," Energy Economics, Elsevier, vol. 92(C).
    12. Chen, Zhongfei & Zhang, Xiao & Chen, Fanglin, 2021. "Do carbon emission trading schemes stimulate green innovation in enterprises? Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 168(C).
    13. Sturm, Bodo & Pei, Jiansuo & Wang, Ran & Löschel, Andreas & Zhao, Zhongxiu, 2019. "Conditional cooperation in case of a global public good – Experimental evidence from climate change mitigation in Beijing," China Economic Review, Elsevier, vol. 56(C), pages 1-1.
    14. Panle Jia Barwick & Shanjun Li & Liguo Lin & Eric Zou, 2019. "From Fog to Smog: the Value of Pollution Information," NBER Working Papers 26541, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Climate change; carbon market; China;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General

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