The Chinese government intends to upgrade its current provincial carbon emission trading pilots to a nationwide scheme by 2015. This study investigates two of scenarios： separated provincial markets and a linked inte...The Chinese government intends to upgrade its current provincial carbon emission trading pilots to a nationwide scheme by 2015. This study investigates two of scenarios： separated provincial markets and a linked inter- provincial market. The carbon abatement effects of separated and linked markets are compared using two pilot provinces of Hubei and Guangdong based on a computable general equilibrium model termed Sino- TERMCo2. Simulation results show that the linked market can improve social welfare and reduce carbon emission intensity for the nation as well as for the Hubei-Guangdong bloc compared to the separated market. However, the combined system also distributes welfare more unevenly and thus increases social inequity. On the policy ground, the current results suggest that a well-constructed, nation- wide carbon market complemented with adequate welfare transfer policies can be employed to replace the current top-down abatement target disaggregation practice.展开更多
Climate change has posed a great risk and treats to global environment.To address the problem,international community resorts to carbon emission reduction,and many countries have implemented afforestation and reforest...Climate change has posed a great risk and treats to global environment.To address the problem,international community resorts to carbon emission reduction,and many countries have implemented afforestation and reforestation project under Clean Development Mechanism.China started the research and has done a great load of works on forest carbon trade as early as the year of 2002 to contribute to the carbon emission reduction.This paper introduces the implementation of forest carbon trade in Heyuan City,Guan...展开更多
The design characteristics and operation results of carbon emission trading system of New Zealand was introduced in this paper. The results suggested that taking forest carbon trade as the only one supplying source of...The design characteristics and operation results of carbon emission trading system of New Zealand was introduced in this paper. The results suggested that taking forest carbon trade as the only one supplying source of greenhouse gas emission improved the foreseeability in forest maintenance,and strengthened the effect of forestation. According to this,the author suggested that carbon emission trading market in which forest carbon trade was the only one supplying source should be cultivated in China. A compensation mechanism that industry compensated forestry should be established. A social participated,highly united,coordinated and mutual intermediated carbon trading market should be built.展开更多
As the largest developing country in the world, China has not be involved in the obligation of emissions reduction in the （〈Kyoto Protocol）） . But it has become the largest CO2 emissions countries in the world. Th...As the largest developing country in the world, China has not be involved in the obligation of emissions reduction in the （〈Kyoto Protocol）） . But it has become the largest CO2 emissions countries in the world. This makes China confronted with more pressure of carbon emissions reduction in the post-Kyoto era, and face great challenges in response to climate change issues. On one hand, China＇ s economic growth stage has decided that the situation of more energy consumption and increased carbon emissions is diffficult to reverse in the short term; On the other hand, the traditional policy under the control of total amount of carbon emission has largely restricted economic development. If a developing country in economic transition is carried out compulsory absolute amount of carbon reduction policies, its economic activity and social consumption will be imposed additional constraints inevitably, which will eventually lead to lower economic competitiveness and decline in social standards of living. Ultimately it will affect the good effects of carbon emissions reduction, so the policy can not achieve a satisfactory result. This paper introduces the financial mechanism into the carbon market model, extends the time of model from one phase to multi-phase. And this paper tries to establish a cross-time carbon credits trade system, and the current strength of the traditional carbon emission market trade model is extended. The paper designs two type of option mechanism model--call options trade carbon emissions model and put options carbon emissions model. Models＇ results show that choosing options tool to extend our traditional carbon market model can bring following impacts on carbon market development： trade costs have fallen, the carbon intensity also has descended, and has realized the flow of carbon intensity in diffident time; it enables manufacturers to effectively avoid the risk of carbon emissions trade; it increases the flexibility and maneuverability of the carbon trade market. Finally, the pol展开更多
This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from "high carbon&...This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from "high carbon" to 'low carbon",covering the following aspects:the structure,status quo and developing trend of global carbon market.The paper discusses the innovation in financial organization and service systems and governments' overall guidance and policy support,and draws the conclusion that the world is undergoing massive changes with governments actively responding to carbon finance to embrace the tremendous opportunities for clean energy and climate change in financial industry.To seize the opportunity,a complete and overall carbon finance system of China should be put in the top of the agenda.Given the current tasks of energy conservation and pollution reduction and the growing demand for capital input,China needs to construct an clear of policy guidance,a diversified financia service system,and a multi-approach carbon finance system to intensify and widen the participation of financial industry,to expand financing channels for sustainable economy and spread risks,and finally,work out an inexpensive solution to the realization of China's low carbon target.展开更多
文摘The Chinese government intends to upgrade its current provincial carbon emission trading pilots to a nationwide scheme by 2015. This study investigates two of scenarios： separated provincial markets and a linked inter- provincial market. The carbon abatement effects of separated and linked markets are compared using two pilot provinces of Hubei and Guangdong based on a computable general equilibrium model termed Sino- TERMCo2. Simulation results show that the linked market can improve social welfare and reduce carbon emission intensity for the nation as well as for the Hubei-Guangdong bloc compared to the separated market. However, the combined system also distributes welfare more unevenly and thus increases social inequity. On the policy ground, the current results suggest that a well-constructed, nation- wide carbon market complemented with adequate welfare transfer policies can be employed to replace the current top-down abatement target disaggregation practice.
基金Supported by ITTO Project"Creating and Sustaining a Market for Environmental Services from China's Tropical Forest"[PD 295/04 Rev.2(M)]
文摘Climate change has posed a great risk and treats to global environment.To address the problem,international community resorts to carbon emission reduction,and many countries have implemented afforestation and reforestation project under Clean Development Mechanism.China started the research and has done a great load of works on forest carbon trade as early as the year of 2002 to contribute to the carbon emission reduction.This paper introduces the implementation of forest carbon trade in Heyuan City,Guan...
基金Supported by Science of Art of Youth Foundation of Central South University of Forestry and Technology (2011ZB002)Key Project of Education Department (10JZD0046)Youth Fund of National Natural Science Fund(71101029)
文摘The design characteristics and operation results of carbon emission trading system of New Zealand was introduced in this paper. The results suggested that taking forest carbon trade as the only one supplying source of greenhouse gas emission improved the foreseeability in forest maintenance,and strengthened the effect of forestation. According to this,the author suggested that carbon emission trading market in which forest carbon trade was the only one supplying source should be cultivated in China. A compensation mechanism that industry compensated forestry should be established. A social participated,highly united,coordinated and mutual intermediated carbon trading market should be built.
文摘As the largest developing country in the world, China has not be involved in the obligation of emissions reduction in the （〈Kyoto Protocol）） . But it has become the largest CO2 emissions countries in the world. This makes China confronted with more pressure of carbon emissions reduction in the post-Kyoto era, and face great challenges in response to climate change issues. On one hand, China＇ s economic growth stage has decided that the situation of more energy consumption and increased carbon emissions is diffficult to reverse in the short term; On the other hand, the traditional policy under the control of total amount of carbon emission has largely restricted economic development. If a developing country in economic transition is carried out compulsory absolute amount of carbon reduction policies, its economic activity and social consumption will be imposed additional constraints inevitably, which will eventually lead to lower economic competitiveness and decline in social standards of living. Ultimately it will affect the good effects of carbon emissions reduction, so the policy can not achieve a satisfactory result. This paper introduces the financial mechanism into the carbon market model, extends the time of model from one phase to multi-phase. And this paper tries to establish a cross-time carbon credits trade system, and the current strength of the traditional carbon emission market trade model is extended. The paper designs two type of option mechanism model--call options trade carbon emissions model and put options carbon emissions model. Models＇ results show that choosing options tool to extend our traditional carbon market model can bring following impacts on carbon market development： trade costs have fallen, the carbon intensity also has descended, and has realized the flow of carbon intensity in diffident time; it enables manufacturers to effectively avoid the risk of carbon emissions trade; it increases the flexibility and maneuverability of the carbon trade market. Finally, the pol
文摘This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from "high carbon" to 'low carbon",covering the following aspects:the structure,status quo and developing trend of global carbon market.The paper discusses the innovation in financial organization and service systems and governments' overall guidance and policy support,and draws the conclusion that the world is undergoing massive changes with governments actively responding to carbon finance to embrace the tremendous opportunities for clean energy and climate change in financial industry.To seize the opportunity,a complete and overall carbon finance system of China should be put in the top of the agenda.Given the current tasks of energy conservation and pollution reduction and the growing demand for capital input,China needs to construct an clear of policy guidance,a diversified financia service system,and a multi-approach carbon finance system to intensify and widen the participation of financial industry,to expand financing channels for sustainable economy and spread risks,and finally,work out an inexpensive solution to the realization of China's low carbon target.
