Carbon Market Linkage of China, Japan and Korea and Its Decarbonization Impacts on Economies and Environment: E3ME Application Case Study

Sunhee Suk (), Unnada Chewpreecha (), Yiming Liu (), Zian Chen (), Bence Kiss-Dorbronyi () and Toru Morotomi ()
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Sunhee Suk: Nagasaki University
Unnada Chewpreecha: World Bank
Yiming Liu: Jiangxi Agriculture University
Zian Chen: Nagasaki University
Bence Kiss-Dorbronyi: Cambridge Econometrics
Toru Morotomi: Kyoto University

Chapter Chapter 3 in Energy Transitions and Climate Change Issues in Asia, 2024, pp 59-88 from Springer

Abstract: Abstract Targeting China, Japan and Korea, this study aims to discuss how a harmonized carbon market would impact each country’s economy and environment. It compares each individual carbon market implement for the country’s decarbonization pathway using the E3ME. In the CJK joint market, emissions are reduced by −32% in 2030 and −85% in 2050 compared to the 2018 base year. Despite the cost-effectiveness of emission reductions in the joint market, GDP benefits are slightly lower in Japan and Korea under the joint CJK market compared to a national scenario. This bring a counterpoint that the linked carbon market undermines the potential benefits of a domestic carbon transition and revenues which is in contrast to previous studies.

Keywords: Carbon market linkage; China; E3ME; Japan; Korea (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-1773-6_3

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DOI: 10.1007/978-981-97-1773-6_3

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