Carbon Markets in China: Development and Challenges

Dong Sun, Jingqi Sun, Xingping Zhang, Qingyou Yan, Qianru Wei and Yun Zhou

Emerging Markets Finance and Trade, 2016, vol. 52, issue 6, 1361-1371

Abstract: China is attempting to initiate its own carbon market—an important market-based policy instrument which would determine the fate of global climate policy as the largest emitter of carbon dioxide across the world. This article looks at carbon trading development so far and examines the key challenges ahead in China. These past experiences—whatever from international CDM practice, or SO2 emission trading and a domestic voluntary carbon market—have paved the solid way to build the existing ETS pilots similar to European Union Emissions Trading System (EU ETS). The investigation into China’s ETS pilots discovered some important and urgent issues such as the capsetting and deepening energy market reform.

Date: 2016
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DOI: 10.1080/1540496X.2016.1152811

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