Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2022 International Conference on Financial Technology and Business Analysis (ICFTBA 2022), Part 1
Series Vol. 5 , 24 April 2023
Open
Access | Article
A Comparative Study of Carbon Trading in China and Internationally
* Author to whom correspondence should be addressed.
Abstract
With the development of society and industry, global warming has become an important environmental issue, and carbon trading is a powerful tool to limit greenhouse gas emissions, and more and more countries have started to adopt carbon trading systems to decrease carbon emissions and to improve the environment. This paper lists the major carbon trading markets in the world and compares them with China's carbon trading, examining the development status, implementation and achievements of carbon trading in each country. This study investigates the carbon trading mechanisms in the EU, Japan and New Zealand, conducts a detailed study on carbon pricing, voluntary emission reduction, and policy promotion, points out the strengths and weaknesses of carbon trading in China, and makes suggestions for development and improvement. This will be useful for other carbon trading markets as well, and the expansion of the ranges of carbon trading mechanisms employed will further control carbon emissions. There is a need to establish a multi-level emissions trading system using various market-based instruments from central to provincial levels and to maintain the carbon market using more flexible carbon pricing. This paper hopes to establish a solid market system to achieve the goal of combating global warming by improving all aspects of carbon trading.
Keywords
Carbon Trading, China, International, Emissions Trading Scheme, Carbon Trading System
References
1. Jiang J. J., Ye B., Ma X. M., (2014) The construction of Shenzhen׳ s carbon emission trading scheme. Energy Policy, 75, 17-21.
2. Jiang J., Xie D., Ye B., Shen B., Chen Z., (2016). Research on China’s cap-and-trade carbon emission trading scheme: Overview and outlook. Applied Energy, 178, 902-917.
3. Han G., Olsson M., Hallding K., Lunsford D., (2012) China’s carbon emission trading: an overview of current development.
4. Guo H., Liu M., Yang M., Zhang S., Zhao X. (2019, August). Investigation and Survey on the Standardization of China’s carbon emission trading market Based on the Government Demand Analysis. In IOP Conference Series: Earth and Environmental Science (Vol. 310, No. 5, p. 052022). IOP Publishing.
5. Ren H. X., (2020) A comparative study of domestic and international carbon trading markets. Energy Saving Technology.
6. Zhang J. H., Zhi R. P., Qi S. Z. (2019). Coverage and industry selection of China's carbon emissions trading market - A multi-objective optimization-based approach. Journal of China
7. New Zealand Emissions Trading Scheme University of Geosciences: Social Science Edition, 19(1), 12. https://environment.govt.nz/what-government-is-doing/areas-of-work/climate-change/ets/
8. Santikarn M., Eden A., Li L., Ackva J., Haug C., (2017) Emissions Trading Worldwide: Status Report 2017, ICAP, 8-22.
9. Wang P., Dai H. C., Ren S. Y., Zhao D. Q., Masui T., (2015) Achieving Copenhagen target through carbon emission trading: Economic impacts assessment in Guangdong Province of China. Energy, 79, 212-227.
10. Hu Y., Ren S., Wang Y., Chen X., (2020) Can carbon emission trading scheme achieve energy conservation and emission reduction? Evidence from the industrial sector in China. Energy Economics, 85, 104590.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- Proceedings of the 2022 International Conference on Financial Technology and Business Analysis (ICFTBA 2022), Part 1
- ISBN (Print)
- 978-1-915371-21-8
- ISBN (Online)
- 978-1-915371-22-5
- Published Date
- 24 April 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/5/20220052
- Copyright
- 24 April 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited