Publication detail

Review of recent progress of emission trading policy in China

Huang, W., Wang, Q., Li, H., Fan, H., Qian, Y., Klemeš, J.J.

Original Title

Review of recent progress of emission trading policy in China

Type

journal article in Web of Science

Language

English

Original Abstract

Global warming caused by the excessive combustion of fossil fuels has become the focus of the international community. China's carbon emission reduction policy plays a vital role in international climate change, carbon emission neutrality and domestic environmental pollution control. This paper summarises the progress of China's Emission Trading Scheme (ETS) pilots from 2011 to 2021, including trading volume, carbon emissions price, and the effect of carbon emission abatement. By calculating the carbon emissions intensity decrease rate of China's ETS pilot and non-pilot regions, the ETS and carbon emissions tax are compared in terms of emission reduction effectiveness, emission reduction cost and implementation resistance to provide theoretical support for the Chinese government to select and develop carbon emission reduction tools. The development of the Clean Development Mechanism in China is also compared with China Certified Emission Reduction (CCER), and the offsetting rules of CCER are summarised. After the whole analysis and assessment, the results show that from 2013 to 2018, the average carbon emissions intensity decline rate in the ETS pilots was 7.3% and that in non-pilots was 4.29%. Some problems of China's carbon emissions trading market are also concluded. The trading volume is small (only 43.4 × 106 t in 2020) and is discrepant greatly in the different ETS pilots. The carbon emissions price is low (only 33.45 Yuan/t in 2020), with high volatility and large price differences among the ETS pilots. Based on the existing problems, this paper proposes some suggestions for improving China's emission trading market and provides theoretical and decision-making support for promoting carbon emission reduction and neutralisation for China.

Keywords

Carbon emission neutrality; Carbon emissions tax; Chinese certified emission reduction; Clean development mechanism; Emission trading scheme

Authors

Huang, W., Wang, Q., Li, H., Fan, H., Qian, Y., Klemeš, J.J.

Released

15. 5. 2022

Publisher

Elsevier Ltd

ISBN

0959-6526

Periodical

Journal of Cleaner Production

Number

349

State

United Kingdom of Great Britain and Northern Ireland

Pages from

131480

Pages to

131480

Pages count

13

URL

https://www.sciencedirect.com/science/article/abs/pii/S0959652622011015

BibTex

@article{BUT177549,
  author="Jiří {Klemeš}",
  title="Review of recent progress of emission trading policy in China",
  journal="Journal of Cleaner Production",
  year="2022",
  number="349",
  pages="131480--131480",
  doi="10.1016/j.jclepro.2022.131480",
  issn="0959-6526",
  url="https://www.sciencedirect.com/science/article/abs/pii/S0959652622011015"
}