Optimizing the rolling out plan of China’s carbon market
Summary: Although China has developed the world’s largest carbon emissions trading scheme (ETS), there is no official documentation explaining how the current sectoral coverage plan was determined and what sectoral rollout plan is preferred. Here, we contribute to the policy development of the world...
| Main Authors: | , , , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2023-01-01
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| Series: | iScience |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S258900422202096X |
| _version_ | 1797946138507083776 |
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| author | Ke Wang Zhixin Wang Yujiao Xian Xunpeng Shi Jian Yu Kuishuang Feng Klaus Hubacek Yi-Ming Wei |
| author_facet | Ke Wang Zhixin Wang Yujiao Xian Xunpeng Shi Jian Yu Kuishuang Feng Klaus Hubacek Yi-Ming Wei |
| author_sort | Ke Wang |
| collection | DOAJ |
| description | Summary: Although China has developed the world’s largest carbon emissions trading scheme (ETS), there is no official documentation explaining how the current sectoral coverage plan was determined and what sectoral rollout plan is preferred. Here, we contribute to the policy development of the world’s largest carbon market by suggesting a priority list of industries be covered in the ETS. We estimated marginal abatement cost curves using a database of more than two million firms covering over 500 four-digit industries that account for more than 97% of total industrial emissions, and simulating various carbon market scenarios including thermal power, 13 designated, and an additional 50 industries that have high emissions or are covered in other ETSs. Our analysis suggests that the cement industry should be the next sector to be included in China’s ETS. In our revised list, the average abatement cost can be reduced by 39.5–78.3% compared with the business-as-usual scenario. |
| first_indexed | 2024-04-10T21:06:13Z |
| format | Article |
| id | doaj.art-3032525518744463bdb1aa95480a1c78 |
| institution | Directory Open Access Journal |
| issn | 2589-0042 |
| language | English |
| last_indexed | 2024-04-10T21:06:13Z |
| publishDate | 2023-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | iScience |
| spelling | doaj.art-3032525518744463bdb1aa95480a1c782023-01-22T04:41:13ZengElsevieriScience2589-00422023-01-01261105823Optimizing the rolling out plan of China’s carbon marketKe Wang0Zhixin Wang1Yujiao Xian2Xunpeng Shi3Jian Yu4Kuishuang Feng5Klaus Hubacek6Yi-Ming Wei7Center for Energy and Environmental Policy Research, Beijing Institute of Technology, Beijing, China; School of Management and Economics, Beijing Institute of Technology, Beijing, China; Sustainable Development Research Institute for Economy and Society of Beijing, Beijing, China; Beijing Key Lab of Energy Economics and Environmental Management, Beijing, China; Corresponding authorSchool of Management and Economics, Beijing Institute of Technology, Beijing, ChinaSchool of Management, China University of Mining and Technology (Beijing), Beijing, China; Corresponding authorAustralia-China Relations Institute, University of Technology Sydney, Ultimo, NSW, Australia; Corresponding authorSchool of Economics, Central University of Finance and Economics, Beijing, ChinaDepartment of Geographical Sciences, University of Maryland, College Park, MD, USAIntegrated Research on Energy, Environment and Society (IREES), Energy and Sustainability Research Institute Groningen, University of Groningen, Groningen, the NetherlandsCenter for Energy and Environmental Policy Research, Beijing Institute of Technology, Beijing, China; School of Management and Economics, Beijing Institute of Technology, Beijing, China; Sustainable Development Research Institute for Economy and Society of Beijing, Beijing, China; Beijing Key Lab of Energy Economics and Environmental Management, Beijing, ChinaSummary: Although China has developed the world’s largest carbon emissions trading scheme (ETS), there is no official documentation explaining how the current sectoral coverage plan was determined and what sectoral rollout plan is preferred. Here, we contribute to the policy development of the world’s largest carbon market by suggesting a priority list of industries be covered in the ETS. We estimated marginal abatement cost curves using a database of more than two million firms covering over 500 four-digit industries that account for more than 97% of total industrial emissions, and simulating various carbon market scenarios including thermal power, 13 designated, and an additional 50 industries that have high emissions or are covered in other ETSs. Our analysis suggests that the cement industry should be the next sector to be included in China’s ETS. In our revised list, the average abatement cost can be reduced by 39.5–78.3% compared with the business-as-usual scenario.http://www.sciencedirect.com/science/article/pii/S258900422202096XEnergy resourcesEnergy policyEnergy managementEnergy Modeling |
| spellingShingle | Ke Wang Zhixin Wang Yujiao Xian Xunpeng Shi Jian Yu Kuishuang Feng Klaus Hubacek Yi-Ming Wei Optimizing the rolling out plan of China’s carbon market iScience Energy resources Energy policy Energy management Energy Modeling |
| title | Optimizing the rolling out plan of China’s carbon market |
| title_full | Optimizing the rolling out plan of China’s carbon market |
| title_fullStr | Optimizing the rolling out plan of China’s carbon market |
| title_full_unstemmed | Optimizing the rolling out plan of China’s carbon market |
| title_short | Optimizing the rolling out plan of China’s carbon market |
| title_sort | optimizing the rolling out plan of china s carbon market |
| topic | Energy resources Energy policy Energy management Energy Modeling |
| url | http://www.sciencedirect.com/science/article/pii/S258900422202096X |
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