兰州大学机构库
Linking Emissions Trading Schemes: Economic Valuation of a Joint China-Japan-Korea Carbon Market
Ma, Zhongyu1; Cai, Songfeng1; Ye, Weifeng2; Gu, Alun3
2019-10
Source PublicationSUSTAINABILITY   Impact Factor & Quartile Of Published Year  The Latest Impact Factor & Quartile
EISSN2071-1050
Volume11Issue:19
page numbers12
AbstractLinking carbon emissions trading systems across countries has become an important tool for global emission reduction. The three high-emission Asian countries, China, Japan, and South Korea (ROK), all have initiated carbon trading and published ambitious Intended Nationally Determined Contribution targets. Since 2016, the three countries have discussed establishing a long-term unified market for carbon emissions trading, and have sought a scheme for such exchange. This study aimed to investigate whether linking the carbon emissions trading systems of these three countries could potentially achieve more ambitious emission reduction targets. A dynamic energy-environmental version of the Global Trade Analysis Project model was used to simulate carbon market linkages across the three countries. The results indicated that a linked China-Japan-ROK carbon market would be highly cost-effective, have positive economic benefits for all three countries, and improve the carbon market's liquidity and transaction scale. Under a scenario with no carbon market linking, the economic losses in China, Japan, and ROK would be $51.55 billion, $13.55 billion, and $74.19 billion, respectively. Meanwhile, with carbon trading linking, the losses would be reduced to $47.08 billion, $5.37 billion, and $9.10 billion, respectively. Therefore, a joint China-Japan-ROK carbon market could greatly promote the adoption of market-based tools for emission reduction.
Keywordcarbon emissions trading scheme GTAP-E (an energy-environmental version of the Global Trade Analysis Project model) economic valuation cost-effectiveness
PublisherMDPI
DOI10.3390/su11195303
Indexed BySCIE ; SSCI
Language英语
Funding ProjectNational Key R&D Program of China[2016YFA0602601]
WOS Research AreaScience & Technology - Other Topics ; Environmental Sciences & Ecology
WOS SubjectGreen & Sustainable Science & Technology ; Environmental Sciences ; Environmental Studies
WOS IDWOS:000493525500162
PublisherMDPI
Original Document TypeArticle
Citation statistics
Document Type期刊论文
Identifierhttps://ir.lzu.edu.cn/handle/262010/418588
Collection兰州大学
Corresponding AuthorYe, Weifeng
Affiliation
1.State Informat Ctr, Beijing 100045, Peoples R China
2.Lanzhou Univ, Coll Earth & Environm Sci, Lanzhou 730000, Gansu, Peoples R China
3.Tsinghua Univ, Inst Energy Environm & Econ, Beijing 100084, Peoples R China
Recommended Citation
GB/T 7714
Ma, Zhongyu,Cai, Songfeng,Ye, Weifeng,et al. Linking Emissions Trading Schemes: Economic Valuation of a Joint China-Japan-Korea Carbon Market[J]. SUSTAINABILITY,2019,11(19).
APA Ma, Zhongyu,Cai, Songfeng,Ye, Weifeng,&Gu, Alun.(2019).Linking Emissions Trading Schemes: Economic Valuation of a Joint China-Japan-Korea Carbon Market.SUSTAINABILITY,11(19).
MLA Ma, Zhongyu,et al."Linking Emissions Trading Schemes: Economic Valuation of a Joint China-Japan-Korea Carbon Market".SUSTAINABILITY 11.19(2019).
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