Chinese carbon market: Current status and future perspectives

LIN Wenbin; LIU Bin

doi:10.16511/j.cnki.qhdxxb.2015.24.008

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Journal of Tsinghua University(Science and Technology) ›› 2015, Vol. 55 ›› Issue (12) : 1315-1323. DOI: 10.16511/j.cnki.qhdxxb.2015.24.008

NUCLEAR AND NEW ENERGY ENGINEERING

Chinese carbon market: Current status and future perspectives

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Abstract

Faced with the increasingly serious problem of global climate change, China has developed pilot carbon markets at the provincial level and is actively exploring pilot market linkage and a national market. This study compares the current status of the pilot carbon markets in terms of their legal basis, system design, institutional arrangement and regulatory policies. Then, the economic development, industrial structure and abatement costs of the different pilot provincial and city markets are analyzed to provide guidance for a national market. This paper advises policy makers to start building a national carbon market once the pilot markets are operating steadily and that the pilot markets should be gradually linked to the national system. While constructing national market, central government should consider maneuverable policy for different provinces, as well as the coexistence of carbon market and other energy, environment and climate policies.

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carbon market linkage / economic development / industrial structure / abatement costs

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LIN Wenbin, LIU Bin. Chinese carbon market: Current status and future perspectives[J]. Journal of Tsinghua University(Science and Technology). 2015, 55(12): 1315-1323 https://doi.org/10.16511/j.cnki.qhdxxb.2015.24.008

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