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The evolving role of carbon finance in promoting renewable energy development in China

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  • Lewis, Joanna I.

Abstract

The world is negotiating what the international climate change regime will look like after 2012--the year that current Kyoto Protocol greenhouse gas emissions reduction targets expire--and the future of the Clean Development Mechanism (CDM) is under discussion. Critics claim the scale of reductions that the CDM is driving in the developing world is insufficient from a scientific perspective if we are to avoid dangerous climate change, that the project-by-project crediting process is inefficient, and that the reductions being achieved are not "additional"--meaning they would have happened anyway and thus should not be financially supported. Yet, the efficacy of CDM must be examined in the broader context of carbon mitigation in the developing world and the actions that are taking place. This paper examines the role that the CDM has played in promoting renewable energy development in China in order to assess how international carbon finance can best be used to help promote emissions mitigation in the developing world. It also assesses how several options under consideration for reforming the current structure of the CDM in particular and developing country engagement in general may impact renewable energy development in China in the coming years.

Suggested Citation

  • Lewis, Joanna I., 2010. "The evolving role of carbon finance in promoting renewable energy development in China," Energy Policy, Elsevier, vol. 38(6), pages 2875-2886, June.
  • Handle: RePEc:eee:enepol:v:38:y:2010:i:6:p:2875-2886
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Jun Li, 2011. "Supporting greenhouse gas mitigation in developing cities: a synthesis of financial instruments," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 16(6), pages 677-698, August.
    2. Zhao, Zhen-Yu & Li, Zhi-Wei & Xia, Bo, 2014. "The impact of the CDM (clean development mechanism) on the cost price of wind power electricity: A China study," Energy, Elsevier, vol. 69(C), pages 179-185.
    3. repec:eee:rensus:v:81:y:2018:i:p2:p:2335-2342 is not listed on IDEAS
    4. Independent Evaluation Group, 2010. "Climate Change and the World Bank Group : Phase II - The Challenge of Low-Carbon Development," World Bank Publications, The World Bank, number 2548.
    5. You, Jing & Huang, Yongfu, 2013. "Green-to-Grey China: Determinants and Forecasts of its Green Growth," MPRA Paper 57468, University Library of Munich, Germany, revised 16 Jul 2014.
    6. Liu, Liwei & Chen, Chuxiang & Zhao, Yufei & Zhao, Erdong, 2015. "China׳s carbon-emissions trading: Overview, challenges and future," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 254-266.
    7. Gosens, Jorrit & Lu, Yonglong, 2013. "From lagging to leading? Technological innovation systems in emerging economies and the case of Chinese wind power," Energy Policy, Elsevier, vol. 60(C), pages 234-250.
    8. repec:eee:enepol:v:110:y:2017:i:c:p:410-421 is not listed on IDEAS
    9. Tian Tang & David Popp, 2014. "The Learning Process and Technological Change in Wind Power: Evidence from China's CDM Wind Projects," NBER Working Papers 19921, National Bureau of Economic Research, Inc.
    10. Zhang, Sufang & Andrews-Speed, Philip & Zhao, Xiaoli, 2013. "Political and institutional analysis of the successes and failures of China’s wind power policy," Energy Policy, Elsevier, vol. 56(C), pages 331-340.
    11. Tian Tang & David Popp, 2014. "The Learning Process and Technological Change in Wind Power: Evidence from China's CDM Wind Projects," CESifo Working Paper Series 4705, CESifo Group Munich.
    12. Liu, Xianbing & Niu, Dongjie & Bao, Cunkuan & Suk, Sunhee & Sudo, Kinichi, 2013. "Affordability of energy cost increases for companies due to market-based climate policies: A survey in Taicang, China," Applied Energy, Elsevier, pages 1464-1476.
    13. Chen, Hua-Qi & Wang, Xiuping & He, Li & Chen, Ping & Wan, Yuehua & Yang, Lingyun & Jiang, Shuian, 2016. "Chinese energy and fuels research priorities and trend: A bibliometric analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 58(C), pages 966-975.
    14. Daniela Marconi & Francesca Sanna-Randaccio, 2012. "The clean development mechanism and technology transfer to China," Questioni di Economia e Finanza (Occasional Papers) 129, Bank of Italy, Economic Research and International Relations Area.
    15. Hong, Lixuan & Lund, Henrik & Mathiesen, Brian Vad & Möller, Bernd, 2013. "2050 pathway to an active renewable energy scenario for Jiangsu province," Energy Policy, Elsevier, vol. 53(C), pages 267-278.
    16. repec:eco:journ2:2017-02-23 is not listed on IDEAS
    17. Purdon, Mark, 2015. "Opening the Black Box of Carbon Finance “Additionality”: The Political Economy of Carbon Finance Effectiveness across Tanzania, Uganda, and Moldova," World Development, Elsevier, vol. 74(C), pages 462-478.
    18. Wang, Linyuan & Zhao, Lin & Mao, Guozhu & Zuo, Jian & Du, Huibin, 2017. "Way to accomplish low carbon development transformation: A bibliometric analysis during 1995–2014," Renewable and Sustainable Energy Reviews, Elsevier, vol. 68(P1), pages 57-69.
    19. Pueyo, Ana & García, Rodrigo & Mendiluce, María & Morales, Darío, 2011. "The role of technology transfer for the development of a local wind component industry in Chile," Energy Policy, Elsevier, vol. 39(7), pages 4274-4283, July.
    20. Liu, Xianbing & Wang, Can & Zhang, Weishi & Suk, Sunhee & Sudo, Kinichi, 2013. "Company's affordability of increased energy costs due to climate policies: A survey by sector in China," Energy Economics, Elsevier, vol. 36(C), pages 419-430.
    21. Mo, Jian-Lei & Agnolucci, Paolo & Jiang, Mao-Rong & Fan, Ying, 2016. "The impact of Chinese carbon emission trading scheme (ETS) on low carbon energy (LCE) investment," Energy Policy, Elsevier, vol. 89(C), pages 271-283.

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