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The design and implementation of an international trading scheme for greenhouse gas emissions

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  • ZhongXiang Zhang

Abstract

The inclusion of emissions trading in the Kyoto Protocol reflects an important decision to address climate-change issues through flexible market mechanisms. The author addresses 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 amount of GHG emissions can be traded internationally; emissions-trading models; competitiveness concerns in the allocation of emissions permits; banking and borrowing; liability for noncompliance; how to enlarge the emissions-trading system; and bubbles. Although the focus is exclusively on emissions trading, its relationship with the clean development mechanism, joint implementation, and bubbles are discussed wherever necessary. By providing some new insights, the author aims to contribute to the design and operationalization of an international emissions-trading scheme.

Suggested Citation

  • ZhongXiang Zhang, 2000. "The design and implementation of an international trading scheme for greenhouse gas emissions," Environment and Planning C: Government and Policy, Pion Ltd, London, vol. 18(3), pages 321-337, June.
  • Handle: RePEc:pio:envirc:v:18:y:2000:i:3:p:321-337
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    Cited by:

    1. Claudia Kemfert & Hans Kremers, 2004. "A Computable General Equilibrium Assessment of a Developing Country Joining an Annex B Emission Permit Market," Discussion Papers of DIW Berlin 454, DIW Berlin, German Institute for Economic Research.
    2. Andreas Löschel & Zhong Zhang, 2002. "The economic and environmental implications of the US repudiation of the kyoto protocol and the subsequent deals in Bonn and Marrakech," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 138(4), pages 711-746, December.
    3. Rose, Adam & Peterson, Thomas D. & Zhang, ZhongXiang, 2006. "Regional carbon dioxide permit trading in the United States: coalition choices for Pennsylvania," MPRA Paper 13547, University Library of Munich, Germany.
    4. Nijkamp, Peter & Wang, Shunli & Kremers, Hans, 2005. "Modeling the impacts of international climate change policies in a CGE context: The use of the GTAP-E model," Economic Modelling, Elsevier, vol. 22(6), pages 955-974, December.
    5. Zhang, ZhongXiang, 1999. "The Kyoto Protocol: a cost-effective strategy for meeting environmental objective?: discussion," MPRA Paper 14049, University Library of Munich, Germany.
    6. Svetlana Maslyuk & Dinusha Dharmaratna, 2011. "Comparative analysis of the existing and proposed ETS," Monash Economics Working Papers 15-11, Monash University, Department of Economics.

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