Emission trading

Alex Y. Lo () and Chen Xiang ()

Chapter 6 in China's Climate Policy, 2025, pp 104-122 from Edward Elgar Publishing

Abstract: Abstract China has more than 25 years of experience in trading pollution rights. In 2005, it started participating in international emission trading under the Kyoto Protocol. From the early 2010s, China decided to develop its own pilot emission trading schemes (ETSs). These pilot ETSs highlighted a shift towards decentralization, with provincial governments taking on more strategic responsibilities in policy formulation and implementation. The role of different actors, such as the provincial government, carbon auditors, and carbon exchanges, has become crucial in shaping the policy development process. The governance approach involved a mix of top-down and bottom-up strategies. Although the Chinese ETSs remain subject to centralized authoritarian control, they have created spaces for decentralization and business engagement to address the capacity gaps in managing new market mechanisms and ensuring compliance. The governance process has become more collaborative and deliberative compared to the sulfur dioxide trading in the late 1990s.

Keywords: Emission trading; Emission reduction; Clean Development Mechanism; Collaborative governance; Business; Guangdong Province (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035341252
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