Low-carbon lifestyle revolution: China’s recent progress toward a personal carbon market

Wensha Xu, Kaiwen Zhou, Sifan Hu, Yang Yang, Pinghan Liang, Rong Pan, Yan Sun and Tien Ming Lee

PLOS Sustainability and Transformation, 2023, vol. 2, issue 10, 1-8

Abstract: Meeting climate change targets requires inclusive carbon policies to encourage mass public participation. As a bottom-up strategy allows participation from all walks of society, personal carbon market may promote low-carbon behavior and further encourage technological innovation. We analyze the advantages of Personal Carbon Trading (PCT), examples of its application in other countries, and its limitations. To promote a low carbon emissions lifestyle, China has proposed and rapidly developed Inclusive carbon credits (ICC), which is a voluntary PCT scheme. We compare the government-led and enterprise-led ICC platforms with relevant examples in China and highlighted the need for academic-industry-government partnerships. Furthermore, we identify the barriers, opportunities, and the path forward with integrating ICC into the carbon market regarding technology and public participation. We hope that the understanding of ICC and China’s recent exploration of the personal carbon market could serve as an example to revolutionize the low-carbon lifestyle worldwide.Author summary: China made encouraging progress in creating a personal and inclusive carbon market scheme but much still remains to be done.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pstr00:0000079

DOI: 10.1371/journal.pstr.0000079

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