Carbon Emissions Trading in China


Book Description

Emissions Trading Systems (ETS) have been hailed as a game changer for the evolving climate crisis. This book provides an in-depth analysis of China’s carbon ETS, including its legal and policy frameworks, carbon market mechanisms, and international and comparative implications.




A Brief Overview of China’s ETS Pilots


Book Description

This book systematically introduces readers to the framework of China’s ETS pilots, exploring their design and operating process, the current state of the carbon market, and various barriers encountered. To do so, it deconstructs the Guangdong ETS, which is the largest and most representative of China’s seven ETS pilots. The book subsequently describes and evaluates all seven pilots in terms of their efficiency, macro and micro effects, the method involved in the DEA model, the CGE model, and cost-benefit analysis. In turn, in the assessment section it demonstrates how some ETS pilots have failed to control carbon emissions due to inordinately high emissions quotas issued by the local government etc. Further, it argues that ETS should focus on those industries with large emissions and high mitigating potential for the time being, and then gradually expand the scale of its coverage. As China’s national ETS is slated for launch on the basis of the lessons learned from the ETS pilots, the book offers a timely and valuable resource for all those who want to understand and forecast the development of China’s ETS. It includes a wealth of descriptions and explanations of Chinese government policies involving carbon emissions control, making it a unique resource.







Carbon Emissions Trading in China


Book Description

Emissions Trading Systems (ETS) have been hailed as a game changer for the evolving climate crisis. This book provides an in-depth analysis of China's carbon ETS, including its legal and policy frameworks, carbon market mechanisms, and international and comparative implications. With nine cutting-edge topics divided into three thematic parts, this comprehensive book probes the essential concepts, contemporary research, and key elements of carbon emissions trading in China. Multidisciplinary in scope, the book draws on insights from law, policy, economics, environmental management, and geopolitics, to provide a comprehensive and nuanced analysis of the development of carbon emissions trading in China. Placing China's carbon ETS within the broader context of international efforts to address climate change, it provides a comparative perspective with international value. This book will be an essential resource for scholars and researchers of international and comparative climate law and policy, environmental management, economics, and climate politics. It will prove an indispensable guide for students of Chinese law, climate law, environmental policy, and comparative environmental law. Practitioners, policymakers, and government officials working in climate governance seeking the state-of-the-art of the development of ETS in China will also benefit greatly from its insights.




China's Emission Trading System In The Transition To A Low-carbon Economy


Book Description

This book integrates the theory and practice of carbon trading at home and abroad, focusing on major theoretical and practical issues of establishing an emissions trading scheme (ETS) in China during its transition to a low-carbon economy. First, a theoretical analysis of the relationship between the transformation of the low-carbon economy and ETS is presented. Second, policy design, institutional evolution, market operation and practical effects of the major global ETSs are systematically compared. Third, the theoretical basis, key points, modelling methods, computational simulation, policy options and operational steps for key institutional and designing of policy elements in China's ETS are analyzed individually. Finally, policy recommendations for the top-level design of China's ETS are proposed.




Elements of Financial Risk Management


Book Description

The Second Edition of this best-selling book expands its advanced approach to financial risk models by covering market, credit, and integrated risk. With new data that cover the recent financial crisis, it combines Excel-based empirical exercises at the end of each chapter with online exercises so readers can use their own data. Its unified GARCH modeling approach, empirically sophisticated and relevant yet easy to implement, sets this book apart from others. Five new chapters and updated end-of-chapter questions and exercises, as well as Excel-solutions manual, support its step-by-step approach to choosing tools and solving problems. Examines market risk, credit risk, and operational risk Provides exceptional coverage of GARCH models Features online Excel-based empirical exercises




Carbon Trading in China


Book Description

This book explores the political aspects of China's climate change policy, focusing on the newly established carbon markets and carbon trading schemes. Lo makes a case for understanding the policy change in terms of discourse and in relation to narratives of national power and development.







Interactions Between China’s National Emissions Trading Scheme and Electricity Market: Practices and Policies


Book Description

China’s national carbon market, the world’s largest emissions trading scheme (ETS), kicked off its first online trade recently. This can be called a milestone for the country towards the nation’s goals of having CO2 emissions peak before 2030 and achieving carbon neutrality by 2060. China’s national ETS initially covers the power sector, before being expanded to a much broader set of energy-intensive industries. On one hand, the electricity sector, the largest carbon-emitting industry, is responsible for about 40% of China’s emissions, and it has great significance to response to global climate change. On the other hand, the effectiveness of China’s ETS will rest on how well it is coordinated with power market regulations and policies. In this regard, the deepening of reform, as well as the advanced technology and its applications in the electricity market will add new challenges and opportunities to electricity trade, which, in turn, influences national ETS. Therefore, this brings urgency to accurately capture the dynamic interactions between national ETS and electricity market to transform carbon trading into a practical and effective way to decarbonize the power sector.




Emissions Trading Schemes and Their Linking


Book Description

Asia and the Pacific has achieved rapid economic expansion in the recent years and has become a major source of greenhouse gas (GHG) emissions. With more than half of the world’s population and high rates of economic growth, the region is especially vulnerable to the effects of climate change and therefore must play its part in cutting GHG emissions. The Paris Agreement adopted last December 2015 at the United Nations Framework Convention on Climate Change COP21 aims to restrict global warming to well below 2°C above preindustrial levels and to pursue efforts to reach 1.5°C---which is especially relevant to Asia and the Pacific region given its vulnerability. This knowledge product highlights how robust policies on emissions trading systems (ETS) can be important tools in reducing GHG emissions in a cost-effective manner, as well as supporting the mobilization of finance together with deployment of innovative technologies. There are currently 17 ETSs in place in four continents and account for nearly 40% of global gross domestic product. In Asia and the Pacific region, there are 11 systems operating, with more being planned. The growing wealth of experience on ETSs can be valuable to support DMCs that are planning and designing new systems of their own. This knowledge product summarizes some of the most significant learning experiences to date and discusses some of the solutions to alleviate challenges that have been faced. It also examines the possibilities for future linked carbon markets in the region.