Effects of emission trading scheme (ETS) on change rate of carbon emission
Abstract This paper investigates the effects of Emission Trading Scheme (ETS) adoption on the country-level reduction rate of carbon emission. We first used Environmental Kuznets Curve (EKC) tests to group countries into three categories: inverse U-shaped and gamma-shaped EKC for decoupled countries...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Nature Portfolio
2023-01-01
|
| Series: | Scientific Reports |
| Online Access: | https://doi.org/10.1038/s41598-023-28154-6 |
| _version_ | 1797945936304930816 |
|---|---|
| author | Hail Jung Chang-Keun Song |
| author_facet | Hail Jung Chang-Keun Song |
| author_sort | Hail Jung |
| collection | DOAJ |
| description | Abstract This paper investigates the effects of Emission Trading Scheme (ETS) adoption on the country-level reduction rate of carbon emission. We first used Environmental Kuznets Curve (EKC) tests to group countries into three categories: inverse U-shaped and gamma-shaped EKC for decoupled countries, and a positive linear EKC for non-decoupled countries. We then examined the effectiveness of ETS adoption. We found ETS was effective for both post-industrial and pre-industrial economies. Compared to countries that have not adopted ETS, the carbon emission reduction (increment) rate of decoupled (non-decoupled) countries that have adopted ETS is faster (slower). Furthermore, ETS adoption significantly reduces overall carbon emissions per capita compared to other global events, such as oil crises. The results imply that a market-based mechanism is an effective strategy for achieving sustainable development, thus, providing insights for policymakers and governments to design effective carbon neutrality policies to achieve sustainable development. |
| first_indexed | 2024-04-10T21:02:55Z |
| format | Article |
| id | doaj.art-32c6a22f1faf43a188ed685584424a34 |
| institution | Directory Open Access Journal |
| issn | 2045-2322 |
| language | English |
| last_indexed | 2024-04-10T21:02:55Z |
| publishDate | 2023-01-01 |
| publisher | Nature Portfolio |
| record_format | Article |
| series | Scientific Reports |
| spelling | doaj.art-32c6a22f1faf43a188ed685584424a342023-01-22T12:11:22ZengNature PortfolioScientific Reports2045-23222023-01-0113111310.1038/s41598-023-28154-6Effects of emission trading scheme (ETS) on change rate of carbon emissionHail Jung0Chang-Keun Song1Graduate School of Carbon Neutrality, Ulsan National Institute of Science and TechnologyGraduate School of Carbon Neutrality, Ulsan National Institute of Science and TechnologyAbstract This paper investigates the effects of Emission Trading Scheme (ETS) adoption on the country-level reduction rate of carbon emission. We first used Environmental Kuznets Curve (EKC) tests to group countries into three categories: inverse U-shaped and gamma-shaped EKC for decoupled countries, and a positive linear EKC for non-decoupled countries. We then examined the effectiveness of ETS adoption. We found ETS was effective for both post-industrial and pre-industrial economies. Compared to countries that have not adopted ETS, the carbon emission reduction (increment) rate of decoupled (non-decoupled) countries that have adopted ETS is faster (slower). Furthermore, ETS adoption significantly reduces overall carbon emissions per capita compared to other global events, such as oil crises. The results imply that a market-based mechanism is an effective strategy for achieving sustainable development, thus, providing insights for policymakers and governments to design effective carbon neutrality policies to achieve sustainable development.https://doi.org/10.1038/s41598-023-28154-6 |
| spellingShingle | Hail Jung Chang-Keun Song Effects of emission trading scheme (ETS) on change rate of carbon emission Scientific Reports |
| title | Effects of emission trading scheme (ETS) on change rate of carbon emission |
| title_full | Effects of emission trading scheme (ETS) on change rate of carbon emission |
| title_fullStr | Effects of emission trading scheme (ETS) on change rate of carbon emission |
| title_full_unstemmed | Effects of emission trading scheme (ETS) on change rate of carbon emission |
| title_short | Effects of emission trading scheme (ETS) on change rate of carbon emission |
| title_sort | effects of emission trading scheme ets on change rate of carbon emission |
| url | https://doi.org/10.1038/s41598-023-28154-6 |
| work_keys_str_mv | AT hailjung effectsofemissiontradingschemeetsonchangerateofcarbonemission AT changkeunsong effectsofemissiontradingschemeetsonchangerateofcarbonemission |