China’s New National Carbon Market

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.

Modeling the Optimal Path of Industrial Pollution Abatement under Tradable Permit and Seawater Cleaning Project in the Bohai Sea

For a long term the accumulation of pollutants in the Bohai Sea brings great damage to marine ecosystem, huge economic and social losses. This paper sets up a frame work modeling the optimal path of industrial pollution abatement under tradable permit and seawater cleaning project. Three sub-models are set up which reveal pollution-fish stock interaction, industrial pollution abatement under tradable permit, seawater cleaning project, respectively. Then in next session we introduce dynamic optimization problem which combines contains two state equations, which correspond to two state variables fish stock and pollution stock , respectively; four control variables industrial production , volume of pollution abatement , volume of sea water cleaning and catch of fish , respectively. To maximum benefit of fishery, we follow and introduce the optimal solution of four control variables obtained from dynamic optimization.

The design of environmental markets: What have we learned from experience with cap and trade?

This article reviews the design of environmental markets for pollution control over the past 30 years, and identifies key market-design lessons for future applications. The focus is on a subset of the cap-and-trade systems that have been implemented, planned, or proposed around the world. Three criteria led us to the selection of systems for review. First, among the broader class of tradable permit systems, our focus is exclusively on cap-and-trade mechanisms, thereby excluding emission-reduction-credit or offset programmes. Second, among cap-and-trade mechanisms, we examine only those that target pollution abatement, and so we do not include applications to natural resource management, such as individual transferable quota systems used to regulate fisheries. Third, we focus on the most prominent applications—those that are particularly important environmentally, economically, or both.