The United States Proposal for an International CO2 Emissions Trading System

1999 ◽  
pp. 385-393
Author(s):  
James Wolfe
Keyword(s):  
United States ◽  
Co2 Emissions ◽  
Emissions Trading ◽  
The United States ◽  
Trading System ◽  
Emissions Trading System

China’s New National Carbon Market

2018 ◽  
Vol 108 ◽  
pp. 463-467 ◽  
Author(s):  
William A. Pizer ◽  
Xiliang Zhang
Keyword(s):  
United States ◽  
Carbon Dioxide ◽  
Carbon Dioxide Emissions ◽  
Emissions Trading ◽  
The United States ◽  
Carbon Market ◽  
Trading System ◽  
Pilot Programs ◽  
Tradable Permit ◽  
Emissions Trading System

On December 19, 2017, China announced the official start of its national emissions trading system (ETS) construction program. When fully implemented, this program will more than double the volume of worldwide carbon dioxide emissions covered by either tax or tradable permit policy. Many of program's design features reflect those of China's pilot programs but differ from those of most emissions trading programs in the United States and Europe. This paper explains the context and design of China's new carbon market, discusses implications and possible modifications, and suggests topics for further research.

scholarly journals China's Rate-Based Approach to Reducing CO2 Emissions: Attractions, Limitations, and Alternatives

2018 ◽  
Vol 108 ◽  
pp. 458-462 ◽  
Author(s):  
Lawrence H. Goulder ◽  
Richard D. Morgenstern
Keyword(s):  
Cost Effectiveness ◽  
Co2 Emissions ◽  
System Performance ◽  
Emissions Trading ◽  
Trading System ◽  
Marginal Costs ◽  
Net Benefits ◽  
Effectiveness And Efficiency ◽  
Emissions Trading System ◽  
The Way

A distinguishing feature of China's recently launched emissions trading system (ETS) is its rate-based structure. This structure governs the way emissions allowances are allocated and the conditions for compliance, and it has important implications for system performance. We show that the rate-based structure implies a wedge between the marginal costs of emissions abatement as perceived by firms and society's marginal costs of abatement. Moving to a mass-based system would eliminate this wedge and thereby yield significant gains in terms of cost-effectiveness and efficiency (aggregate net benefits). We indicate that these gains could be realized while addressing concerns about distributional equity.

Defining Emissions Entitlements in the Constitution of the EU Emissions Trading System

2012 ◽  
Vol 1 (2) ◽  
pp. 303-323
Author(s):  
Sabina Manea
Keyword(s):  
Emissions Trading ◽  
Climate Change Policy ◽  
The United States ◽  
Private Law ◽  
The European Union ◽  
Trading System ◽  
Legal Concept ◽  
Public And Private ◽  
Dual Nature ◽  
Emissions Trading System

AbstractThe European Union Emissions Trading System (EU ETS) is the largest mandatory programme of its kind. The entitlements in emissions allowances (emissions entitlements) combine public and private law characteristics: allowances are tradable, commercially valuable regulatory instruments. This dual nature reveals a new interdependency between public and private law mechanisms in the context of climate change policy. This article argues that achieving the requisite level of emissions reductions is contingent on the viability of the emissions market, and that both are dependent on the definition of emissions entitlements. This view is supported by a case study which identifies the practical and serious consequences of the absence of a legal concept of emissions entitlements. The United States (US) Acid Rain Program offers useful lessons on the treatment of emissions entitlements. They can be further defined by analogy with similar rights regimes. Their nature is highly relevant to the emissions market, particularly to the commercial contracts that constitute it.

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