China’s Carbon Market Development and Carbon Market Connection: A Literature Review
As a responsible world power, China has established quantitative carbon emission reduction targets and started to establish carbon trading pilots in 2013. Successfully connection and a certain size of the carbon market can further enhance the liquidity of carbon allowances and, to a certain extent,...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2019-05-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/12/9/1663 |
| _version_ | 1811184159205359616 |
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| author | Yifei Hua Feng Dong |
| author_facet | Yifei Hua Feng Dong |
| author_sort | Yifei Hua |
| collection | DOAJ |
| description | As a responsible world power, China has established quantitative carbon emission reduction targets and started to establish carbon trading pilots in 2013. Successfully connection and a certain size of the carbon market can further enhance the liquidity of carbon allowances and, to a certain extent, contribute to the enthusiasm of enterprises to participate. This paper gives an overview of the past operational development of China’s eight carbon market pilots, the current problems in the national carbon market, the elements that need to be improved during the establishment process, and the feasibility of future connection between China’s carbon market. In addition, the international carbon market was summarized and analyzed. We found that, compared with the already mature carbon market in the world, there is still a big gap between China and these countries’ carbon market in various respects, such as the carbon price formation mechanism, the carbon quota allocation, carbon emission coverage sources, and legal and policy systems. Thus, China should manifest the pricing mechanism, unify the allocation of carbon quotas, cover the sources of emissions, introduce clear laws and regulations in the construction of the carbon market, all these will ensure the smooth operation of the national carbon market. |
| first_indexed | 2024-04-11T13:08:30Z |
| format | Article |
| id | doaj.art-9d91128d9f6e4ead8f75edc6060e32cc |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-04-11T13:08:30Z |
| publishDate | 2019-05-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-9d91128d9f6e4ead8f75edc6060e32cc2022-12-22T04:22:39ZengMDPI AGEnergies1996-10732019-05-01129166310.3390/en12091663en12091663China’s Carbon Market Development and Carbon Market Connection: A Literature ReviewYifei Hua0Feng Dong1School of Management, China University of Mining and Technology, Xuzhou 221116, ChinaSchool of Management, China University of Mining and Technology, Xuzhou 221116, ChinaAs a responsible world power, China has established quantitative carbon emission reduction targets and started to establish carbon trading pilots in 2013. Successfully connection and a certain size of the carbon market can further enhance the liquidity of carbon allowances and, to a certain extent, contribute to the enthusiasm of enterprises to participate. This paper gives an overview of the past operational development of China’s eight carbon market pilots, the current problems in the national carbon market, the elements that need to be improved during the establishment process, and the feasibility of future connection between China’s carbon market. In addition, the international carbon market was summarized and analyzed. We found that, compared with the already mature carbon market in the world, there is still a big gap between China and these countries’ carbon market in various respects, such as the carbon price formation mechanism, the carbon quota allocation, carbon emission coverage sources, and legal and policy systems. Thus, China should manifest the pricing mechanism, unify the allocation of carbon quotas, cover the sources of emissions, introduce clear laws and regulations in the construction of the carbon market, all these will ensure the smooth operation of the national carbon market.https://www.mdpi.com/1996-1073/12/9/1663carbon marketcarbon market connectionreview |
| spellingShingle | Yifei Hua Feng Dong China’s Carbon Market Development and Carbon Market Connection: A Literature Review Energies carbon market carbon market connection review |
| title | China’s Carbon Market Development and Carbon Market Connection: A Literature Review |
| title_full | China’s Carbon Market Development and Carbon Market Connection: A Literature Review |
| title_fullStr | China’s Carbon Market Development and Carbon Market Connection: A Literature Review |
| title_full_unstemmed | China’s Carbon Market Development and Carbon Market Connection: A Literature Review |
| title_short | China’s Carbon Market Development and Carbon Market Connection: A Literature Review |
| title_sort | china s carbon market development and carbon market connection a literature review |
| topic | carbon market carbon market connection review |
| url | https://www.mdpi.com/1996-1073/12/9/1663 |
| work_keys_str_mv | AT yifeihua chinascarbonmarketdevelopmentandcarbonmarketconnectionaliteraturereview AT fengdong chinascarbonmarketdevelopmentandcarbonmarketconnectionaliteraturereview |