Climate Policies in China: Renewable Energy Introduction and National Emissions Trading Scheme

Jiayang Wang (), Yiyi Ju () and Kiyoshi Fujikawa ()
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Jiayang Wang: Aichi Gakuin University
Yiyi Ju: Waseda University
Kiyoshi Fujikawa: Aichi Gakuin University

Chapter Chapter 1 in Empirical Research on Environmental Policies in China, 2023, pp 3-18 from Springer

Abstract: Abstract In the context of an accelerating global decarbonization transition, China has pledged to achieve carbon neutrality by 2060. The Chinese government has been implementing various policy tools. We review renewable energy (RE) introduction policies and the emission trading scheme in detail in this chapter. On the one hand, the Chinese government enacted the Renewable Energy Law and promoted the introduction of RE power generation through a series of actions, including the “concession bidding system” and the “feed-in tariff system” for electricity generation from renewable energies. As a result, China has become the world’s largest user of RE. On the other hand, China started a unified national emissions trading scheme for power industries after an eight-year operation of regional pilot markets. As of 2020, it could cover approximately 4500 Mt. of CO2. Based on the stocktaking of the RE introduction policies and the emission trading scheme in China, we summarize the potential future issues. Along with the introduction of a large scale of renewable power capacities, it is necessary to improve the flexibility and stability of the power grid. Moreover, emission trading schemes for other energy-intensive industries, such as cement, petrochemicals, nonferrous metals, and steel, are also in urgent need but still under consideration.

Keywords: Renewable energy; Feed-in tariff; Emission trading scheme; Carbon price (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-5957-0_1

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DOI: 10.1007/978-981-99-5957-0_1

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