1. Economic and Environmental Impacts of China’s New Nationwide CO2 Emissions Trading System
- Author:
- Lawrence Goulder, Xianling Long, Chenfei Qu, and Da Zhang
- Publication Date:
- 05-2023
- Content Type:
- Working Paper
- Institution:
- Asia Society
- Abstract:
- China’s National Emissions Trading System (ETS) has already become the world’s largest ETS and is expected to contribute substantially toward meeting China’s pledge to peak its carbon emissions before 2030 and achieve carbon neutrality before 2060. The new system is based on a tradable performance standard (TPS), a rate-based system under which each covered facility receives from the government in each compliance period a certain number of emissions allowances based on its output and the government’s assigned “benchmark” ratio of emissions per unit of output. Economic and Environmental Impacts of China’s New Nationwide CO2 Emissions Trading System describes the results from a multi-sector multi-period general equilibrium model designed to assess the potential economic, energy mix, and emissions impacts of different future policy options under China’s National ETS over the period 2020–2035, by sector and province and in the aggregate
- Topic:
- Environment, Economy, Trade, and Carbon Emissions
- Political Geography:
- China and Asia