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Emission Trading Schemes and Carbon Markets in the NDCs: Their Contribution to the Paris Agreement
Abstract
At present there are 18 emission trading schemes (ETS) operating in the world. At the COP21 in Paris a clear path for climate and energy policies has been outlined over the coming decades: states have committed themselves to reach zero net emissions by the second half of this century and to maintain the average global temperature rise well below 2 °C, with an additional effort to stay within 1.5 °C. 191 countries, whose emissions cover 98.9% of global greenhouse gas emissions, have already submitted their INDCs/NDCs. The contribution of this paper is twofold. First, it presents a review of the existing ETS and the incumbent ones, like the Chinese national scheme. The ETS currently existing are summarized in a table and than described. Moreover, an overview of the countries which are planning to start new cap-and-trade systems is provided, as well as a table showing which countries included a reference to an ETS in their INDC/NDC. Second, it offers a comprehensive overview about what the countries included in their NDCs about national ETS and international carbon markets. In fact, many developing countries are now considering to access carbon finance to fulfil part of their commitments. But in order for them to receive this kind of finance, and therefore to be able to achieve their climate targets, there has to be a demand for credits. For this reason, understanding whether there will be this match between demand and offer for carbon credits will lead to more efficient choices in policy making, for both sides of the market and thus contribute to the achievement of the Paris Agreement.
... The scheme of ETS is to create an artificial market that cap the amount of emissions of a certain substance that can be released into the atmosphere within a set time period within an industry [37][38][39]. Emissions trading can be split into two categories: cap-and-trade or baseline and credit. Cap-and-trade schemes are "market-based approaches to controlling pollutions within industries by providing economic incentives for reaching reductions in emissions of pollutions" [38]. ...
... Within a statutory scheme, a government passes a law that establishes emissions trading with a goal to limit the amount of emissions from a specific type of GHG within a certain territory. This law allows for a transfer of ability from the emitting source to the government otherwise known as the allocation of credits [38,39]. After authorization of the law or voluntary agreement, enterprises must apply for permits to emit and carry out activities within the restriction of the scheme; during this time, enterprises within the industry will be allocated credits. ...
... There will be an industrialized policy in effect for the globalization era Inclusive growth Energy efficiency will increase 20% by 2020 state has implemented as of 2011-broken down via tax; duty, fee, and charge; and subsidy. The European Union emissions trading system (EU ETS) is currently the largest cap-and-trade program in the world [39]. With its launch in 2005, it allocated tradeable emissions permits to over 14,000 power stations and industrial plants within 31 countries-accounting for 40% of the European Union's total GHG emissions. ...
Climate and environmental pollution have a long-term effect on world economics. Evidence has shown that climatic events have had drastic impacts since pre-industrial times. Industrialization has played a key role in pollution-based emissions. Most industrialized countries come from the developed world. Mass industrial and economic development has burdened less developed countries by exposing them to harmful methods of emission development. This chapter examines the need for developed countries to reverse harmful environmental emissions by creating green energy-based policies that, in effect, reduce greenhouse gases and environmental pollution. A focalized breakdown of the European Union and the United States, i.e., two parties that produce substantial amounts of polluting emissions, is assessed by looking at effective green energy policy to foster stronger sustainable development and ecologically friendly human settlements for the timeframe 2005–2011. This historical-environmental perspective is valuable to understand where current green deal policy originates from and recognize the political and economic elements policy-makers should consider for future policy development.
... For example, mechanisms like the Clean Development Mechanism (CDM) under the Kyoto Protocol have successfully funded landfill gas (LFG)-to-energy projects in developing countries [81,82], emphasizing the potential for similar frameworks to support Algeria and other upper-middle-income countries in transitioning to sustainable waste management. Additionally, climate finance is critical for enabling developing nations to meet their Nationally Determined Contributions (NDCs) under the Paris Agreement, as access to international public climate funds is essential for reducing emissions and implementing climate-related initiatives [83]. The integration of Emission Trading Schemes (ETSs) and carbon markets into NDCs also offers developing countries opportunities to access carbon finance, further supporting their climate mitigation efforts [83]. ...
... Additionally, climate finance is critical for enabling developing nations to meet their Nationally Determined Contributions (NDCs) under the Paris Agreement, as access to international public climate funds is essential for reducing emissions and implementing climate-related initiatives [83]. The integration of Emission Trading Schemes (ETSs) and carbon markets into NDCs also offers developing countries opportunities to access carbon finance, further supporting their climate mitigation efforts [83]. These financial mechanisms, combined with international cooperation, can significantly enhance the capacity of developing and upper-middle-income countries to adopt sustainable waste management practices and achieve their climate goals. ...
This paper presents several transformative scenarios of municipal solid waste landfilling sites from technical and ecological points of view, applicable to upper-middle-income countries, as per the classification of the World Bank. Our approach is based on numerical simulations of greenhouse gas (GHG) emissions in 2012 and 2025 and numerical simulations of methane emissions in a selected landfilling site, Oued Smar, in Algiers (Algerian capital city), according to the LandGem and IPCC models. Business-as-usual, landfill gas flaring, and electricity generation scenarios are considered in the numerical simulations. Finally, a novel metric dividing the recoverable electrical power by the amount of avoided greenhouse gas emissions is suggested. This paper reveals that the LandGem results were closer to reality and exhibited slightly higher values of energy recovery. A novel “techno-ecological” metric, computed as the ratio of energy recovery to avoided amounts of GHG emissions, was suggested for controlling landfill transformation. Accordingly, transitioning from uncontrolled landfilling to energy recovery could reduce GHG emissions by up to 99.87%, with a generated power of 0.89 W per ton of CO2-eq avoided by 2025.
... Furthermore, numerous studies have extensively examined longterm carbon tax policies using CGE models. Cao et al. (2021) [35] used 8 different CGE models to simulate the effects of low, medium, and high-intensity carbon taxes on macroeconomic aspects and carbon emissions. These models incorporated various tax return mechanisms, including strategies such as reducing value-added tax, corporate income tax, government holding, and returns to household, among others. ...
... Some scholars have researched China's carbon market, which can be divided into two aspects: one is about the characteristics of China's carbon market, including trading mechanisms, influencing factors, volatility features of carbon price, etc. Based on the total amount constraint and allocation of carbon emissions, the trading mechanism allows transaction entities to adjust CEA in the form of currency within a certain range so as to achieve regional carbon emission reduction goals at the lowest cost [2]. Therefore, setting the total amount of regional carbon emission, determining the scope of industry coverage, and allocating initial carbon emission has become fundamental issues in the design of carbon trading mechanisms [3]. ...
Under the efficient market hypothesis (EMH), part of the literature ignores the characteristics of carbon markets. Based on the fractal market hypothesis (FMH), using the MF-DCCA method, this empirical study complements related research. We studied the non-linear multifractal correlation between carbon price fluctuations and China’s economic policy uncertainty (CNEPU) in Shenzhen, Beijing, Tianjin, and the national carbon market. The results show the following: (1) There is no linear correlation between price volatility and CNEPU in all carbon markets. (2) In the national carbon market, the correlation linkage between price fluctuation and CNEPU has not yet formed. (3) In the three regional carbon markets of Shenzhen, Beijing, and Tianjin, the long-range correlations exist with anti-persistence multifractal characteristics, which means that an increase in CNEPU will reduce price fluctuations. (4) After dividing the time scale into long-term and short-term, we found that it does not change the multifractal characteristics but it does change the fractal intensity. Finally, some suggestions are given to policymakers and carbon finance investors.
... It is based on the "cap and trade" principle (Qian et al., 2018). ETS is widely adopted by European Union, Switzerland, Australia, New Zealand, South Korea, etc. (Caciagli, 2018). ...
The fourth industrial revolution, the shift to a more service-based economy, and the Covid-19 pandemic have all helped to shape the new economic landscape of the 21st century. All of the aforementioned factors contribute to a business and organizational environment in which businesses and organizations are being asked to restructure their business models, change the way they operate and make decisions, and invest in human resources. Adaptability, flexibility, effective communication and decision-making leadership, innovation, and the ability to strengthen human resources and skills are thus characteristics of businesses that wish to continue operating and remaining viable. These elements make up the concept of organizational resilience, which is directly related to sustainability and is particularly important for achieving high rates of economic growth. The research question is whether organizations and firms in Greece during the Covid-19 period are governed by organizational resilience that will enable the country's sustainable economic growth. The survey was conducted using a questionnaire distributed to 156 employees from 62 firms, and correlations were performed based on the number of employees and the nature of the firms (national, multinational, etc.). It was discovered that economic organizations are governed by flexibility, adaptability, diffuse decision making, and individual and group accountability and discretion in terms of actions to achieve the organization's objectives, ability to acquire new resources and skills, and ability to identify new opportunities. However, they lack psychological security, social capital, meaning-making, and resourcefulness-learning. As a result, in order to support the country's long-term economic growth, steps must be taken to improve these dimensions of organizational resilience. On a theoretical level, this paper contributed to the filling of gaps in the literature concerning the relationship between organizational resilience and economic development, particularly in the Greek context. Furthermore, it is important to note that this study was conducted during the pandemic, after a year of attempting to adapt firms and organizations to the new reality in which the Covid-19 pandemic was a strong shock for firms and led to a decrease in economic recovery rates, highlighting the practical implications of using the current research, of which two points should be highlighted. The first is that not all organizational resilience dimensions received a high mean score, implying that economic organizations have significant room for further development of these aspects in order to achieve a high level of organizational adaptability that will benefit the economy by enhancing firm sustainability and continued operation while adapting to new conditions in the wider corporate environment. The second point to highlight is that businesses should prioritize social capital, meaning creation, and psychological security for their employees. Human resources are an organization's most valuable asset in adapting to the post-Covid-19 era, not only through their behavior, productivity, and efficiency, but also through their initiative, originality, and entrepreneurship. These elements are critical in ensuring the viability of businesses. The above components are essential in ensuring that businesses can continue to operate and contribute to economic growth.
As a result, in order to support the country's long-term economic growth, actions are required to improve these dimensions of organizational resilience. On a theoretical level, this paper contributed to the filling of gaps in the literature concerning the relationship between organizational resilience and economic growth, particularly in the Greek context. Furthermore, it is important to note that this study was conducted during the pandemic, after a year of trying to adapt organizations and businesses to the new reality in which the Covid-19 pandemic was a solid shock for firms and resulted in a reduction in economic recovery rates, showcasing the practical implications of using the current research, of which two points should be highlighted. In order to achieve a high level of organizational resilience that will support economic growth by enhancing firm sustainability and continued operation while adapting to new conditions in the larger business environment, economic organizations need to further develop these dimensions, as shown by the fact that not all of them received a high mean score. The second thing to underline is that businesses should pay particular attention to boosting social capital, giving work significance, and providing psychological security for workers. Future research could strengthen its findings by offering recommendations for particular economic sectors by extending its scope to include the analysis and comparison of different economic sectors. Similar comparative research on businesses in other EU nations as a whole and/or with a special emphasis on corresponding industry sectors would also produce very valuable findings that, when combined with an analysis of the effects of different variables (such as legislation, the economic climate, organizational structure and operation, etc.) on organizational resilience, could result in the formulation of pertinent practical implementation suggestions.
... It is based on the "cap and trade" principle (Qian et al., 2018). ETS is widely adopted by European Union, Switzerland, Australia, New Zealand, South Korea, etc. (Caciagli, 2018). ...
Sustainable development has been on the agenda not only of advanced and emerging economies but also of
international organizations and national institutions. The main challenge faced by these units, especially emerging
economies, is to provide social, economic, and environmental conditions that meet countries’ sustainable
development goals in the medium- and long term. In this parallel, the present study investigates the determinants
of sustainable development, proxied by Adjusted Net Saving Rate (ANS), in E7 economies over the period 1990-
2019 using pooled mean group (PMG) panel ARDL model. The empirical findings reveal that government
expenditure, foreign direct investment, and unemployment have a negative effect, where only the effect of
unemployment is insignificant, while per capita income growth and financial depth have an insignificant positive
effect in the short run. On the other hand, in the long run, the effects of unemployment and per capita income
growth turn out to be significant, whereas foreign direct investment loses its significance and becomes positive.
The findings may be interpreted in such a way that E7 economies should harness long-term macroeconomic
policies that would increase the efficiency of government expenditure and countries’ saving rate and decrease
unemployment to achieve sustainable development rather than short-term orientation.
... It is based on the "cap and trade" principle (Qian et al., 2018). ETS is widely adopted by European Union, Switzerland, Australia, New Zealand, South Korea, etc. (Caciagli, 2018). ...
... Maritime transport, in particular, carries approximately 80 % of the volume of global goods representing the sea routes and highways for international maritime trade [1]. Reducing CO 2 emissions from maritime transport has become one of the environmental challenges associated with climate change [2][3][4]. Previous ship measures that have dealt with pollution that have focused on SO x and NO x -with much less research on CO 2 emission levels. The fact that oceans and seas are important for sustainable development is undeniable [5]. ...
For decades, the shipping sector has been incorporated into the global decarbonization process. At present, global shipping – as a whole – aims to reduce its emission levels by 40 % by 2030 in relation to the 2008 level. In reducing greenhouse gas emissions, regulations such as the MARPOL 73/78 Convention and Energy Efficiency Design Index as well as other monitoring and managing schemes already in operation (e.g., Ship Energy Efficiency Management Plan and Energy Efficiency Operational Indicator) play a crucial role in measuring fuel consumption and ship engine emission output. Energy Efficiency Existing Ship Index (EEXI) is another measure, projected to be ratified in 2023, in-line with decarbonization targets in which the International Maritime Organization has planned a 70 % reduction in emissions level by 2050 using the same 2008 baseline. For this to happen, ship speed may need to be reduced, a decrease of fleet capacity may also need to be considered, and new ships may need to replace older ones already in service. The costs of implementing these types of reforms are obviously significant to the sector. Such change will augment the overall shipping overhead, effecting subsequent transportation and consumer costs. This paper aims to specify the scale of the expected costs of implementing EEXI globally. The current maritime fleet has been analyzed in terms of energy demand, deadweight tonnage, and expected CO2 emission reduction marginal abatement costs (MAC). Two pathways to achieve the desired EEXI values are presented, including the most common and available technologies to reduce demand. These technologies are subjected to MAC valuation and presented quantitatively for the world fleet. The research also investigates alternative fuel options in regard to lessening the CO2 impact, developing wind support systems, and avoiding conventional advancements to ships (e.g., upgrading the propeller or the propulsion system). At length, the target of the work is to elucidate a realistic CO2 reduction potential in 2030 with the long view of 2050.
Legal rules aimed at compensation for the harm caused by a particular state, individual, or legal entity (for example, oil pollution of the sea due to a tanker accident) are well studied and constantly used in scientific literature and international law practice. Meanwhile, every year, the number of cases of harm when the particular guilty party cannot be established grows; this is why it is almost impossible to compensate for the harm caused. Such cases include collisions of satellites causing space debris; the consequences of climate change for agriculture, forestry, and the health of citizens; and the pollution of the World Ocean with plastic debris, ballast water, and abandoned nets.
There are more such cases at the national level. After studying acts of international environmental law, national legislation, and several examples from judicial practice, we show that compensation for the harm caused to life, health, or property in the absence of a particular harm-doer is difficult or impossible to prove. This is why actions that can prevent subjectless environmental harm are taken at the national level in certain countries by developing measures to mitigate and adapt to climate change, licensing space activities, and taking preventive measures against the formation of plastic debris and its pollution of the seas, etc. This trend should be continued, and the experience gained by certain states should be used in developing new acts of international environmental law. This will ensure the next step towards preventing environmental harm where it is impossible to establish the doer’s name.
China has committed to goals of reducing its carbon intensity by 60%–65% in 2030 above the 2005 levels and peaking its carbon emissions by latest 2030. While a unified national emission trading scheme (ETS) has been recognized as the crucial instrument to fulfill these ambitious dual goals, its potential performance remains underexplored. This paper quantifies China's need for emission reduction under the dual goals in 2030 by setting three scenarios for peak emissions. Four initial allocation schemes of carbon emission allowance (CEA) are compared according to the emission abatement costs (EACs) of China and its 30 provinces. By estimating the provincial marginal abatement cost curves, China's ETS is simulated through a nonlinear programming aimed at minimizing its total EACs. We find that in achieving the dual goals it makes economic sense to operationalize the ETS that would reduce China's EACs by 61.41%–80.33% in 2016–2030, at a carbon price of 394.55–425.75 RMB per ton CO2. Peaking China's emissions in 2030 is the preferred choice that will trigger the largest GDP in 2016–2030. The historical responsibility scheme is recommended for the CEA allocation because of the lowest initial EACs without ETS. To allow more room for economic growth after China peaks emissions, there is a need for overfulfilling the goal of carbon intensity reduction by 2030, which is consistent with China's latest climate mitigation targets. This research not only highlights the role of ETS in realizing China's dual goals, but provides a scientific framework for evaluating the environmental policies towards multiple goals in a cost-effective manner.
Carbon emissions trading is a market-based approach used to lower abatement costs for both sellers and purchasers of carbon. By simulating a scenario in which emissions trading takes place among China, Japan, and Korea in a low-carbon community, this chapter explores the possible impact of carbon emissions trading. The results show that developed countries, such as Japan and Korea, and developing countries, like China, can lower their total abatement costs through carbon trading, considering the costs of buying and selling carbon credits.
The Swiss government intends to link the Swiss Emissions Trading System to the EU ETS after 2012. Employing GENESwIS, a dynamic computable general equilibrium (CGE) model of the Swiss economy, we investigate the macroeconomic and sectoral effects of a post-2012 Swiss ETS with linking to the EU ETS. It is the first such CGE analysis for Switzerland with disaggregated sectors according to magnitude of CO2emissions from installations, which allows distinguishing ETS installations from non-ETS installations in the same sector. The reference scenario represents the announced post-2012 Swiss climate policy (but without ETS), implying a GHG emissions target for 2020 of -20% w.r.t. 1990. In the ETS policy scenarios, regulatory issues include participation thresholds and the share of auctioned permits. We show that the Swiss ETS reduction targets are not ambitious when declining baseline emissions are assumed. Thus, most ETS installations profit from an ETS, while non-ETS sectors have to reduce more emissions (and pay a higher CO2 tax). In the context of the simulated Swiss ETS scenarios, we find that distributional consequences of regulatory choices are far more important than efficiency considerations.
The EU parliament has accepted a proposal of the EU commission on the backloading of EU emission allowances (EUA), where the auctioning of EUAs is postponed to future time periods. The EU commission has also proposed a market stability reserve (MSR), which is a quantity-based stabilisation policy that is aimed at controlling the volume of EUAs in circulation. Using an agent-based electricity market simulation with endogenous investment and a CO2 market (including banking), we analyse the backloading reform and the proposed MSR. We find backloading to only have a short-term impact of CO2 prices; regardless, there is a significant risk of high CO2 prices and volatility in the EU ETS. Our simulations indicate that the triggers of the proposed MSR appear to be set too low for the hedging need of power producers, effectively leading to a stricter cap in its initial 10-15 years of operation. While the current proposal may be improved by choosing different triggers, a reserve that is based on volume triggers is likely to increase price volatility, contrary to its purpose. Additional problems are the two-year delay in the response time and the abruptness of the response function, combined with the difficulty of estimating future hedging behaviour.
Purpose
This study aims to propose a set of institutional frameworks, as well as practical polices and steps, with a view to facilitating the establishment of a unified carbon trading market in China.
Design/methodology/approach
Based on existing empirical studies and reviews of the socioeconomic contexts, this study followed a qualitative approach consisting of secondary data collection and analysis, semi-structured interviews to collect primary data and comparative analysis.
Findings
The establishment of a national carbon trading market in China is a systemic and complex process which requires coordination among various concerned government agencies and supporting mechanisms. Currently, the development of a unified national carbon market has been impeded by the lack of coordination among local pilot programs, and there is no specific law passed by the People’s Congress or by its Standing Committee to regulate the emerging carbon trading market. It is of vital importance for China, in terms of both practical and strategic aspects, to take a gradualist approach in establishing laws and institutions to guide and support the development of its emerging carbon market.
Research limitations/implications
This present study forms a part of a regional research project aiming to identify sound policy approaches for the establishment of a carbon trading market in China. Due to scope reasons, it focuses only on policy analysis and recommendations.
Originality/value
China’s emerging national carbon trading market has attracted much research attention. However, little has been done from the perspectives of legislations and policies.
The Paris climate agreement aims at holding global warming to well below 2 degrees Celsius and to “pursue efforts” to limit it to 1.5 degrees Celsius. To accomplish this, countries have submitted Intended Nationally Determined Contributions (INDCs) outlining their post-2020 climate action. Here we assess the effect of current INDCs on reducing aggregate greenhouse gas emissions, its implications for achieving the temperature objective of the Paris climate agreement, and potential options for overachievement. The INDCs collectively lower greenhouse gas emissions compared to where current policies stand, but still imply a median warming of 2.6–3.1 degrees Celsius by 2100. More can be achieved, because the agreement stipulates that targets for reducing greenhouse gas emissions are strengthened over time, both in ambition and scope. Substantial enhancement or over-delivery on current INDCs by additional national, sub-national and non-state actions is required to maintain a reasonable chance of meetin
The European Union's Emissions Trading Scheme (EU ETS) is the world's largest market for carbon and the most significant multinational initiative ever taken to mobilize markets to protect the environment. It will be an important influence on the development and implementation of trading schemes in the US, Japan, and elsewhere. However, as is true of any pioneering public policy experiment, this scheme has generated much controversy. Pricing Carbon provides the first detailed description and analysis of the EU ETS, focusing on the first ‘trial’ period of the scheme (2005–7). Written by an international team of experts, it allows readers to get behind the headlines and come to a better understanding of what was done and what happened based on a dispassionate, empirically based review of the evidence. This book should be read by anyone who wants to know what happens when emissions are capped, traded, and priced. © Association Pour la Recherche sur l'Economie du Carbone 2010.
The European emissions trading scheme (EU ETS) is the centerpiece of Europe׳s climate policy. The system has been undermined variously by the weakness of its regulation, an undesirable overlap with other public policies and the far-reaching economic and financial crisis that caused the market price of allowances to plunge. This article attempts to identify the conditions for making the coming years of the EU ETS a success. It draws historical lessons from the eight years the scheme has been in operation, and then presents the various interventions by the public authorities currently under discussion in order to revive the market. Finally, the article proposes to draw lessons from monetary policy by outlining what might be the mandate of an Independent Carbon Market Authority, with responsibility for the dynamic management of the supply of allowances, and whose main mission would be to ensure the optimal linkage between the different temporal horizons of the climate strategy. This article could provide important lessons for schemes developing in the rest of the world, especially in South Korea or in China.KeywordsEmission tradingEU ETSGovernance
The price of EU allowances (EUAs) in the EU Emissions Trading Scheme (EU ETS) fell from almost 30€/tCO2 in mid-2008 to less than 5€/tCO2 in mid-2013. The sharp and persistent price decline has sparked intense debates both in academia and among policy-makers about the decisive allowance price drivers. In this paper we examine whether and to what extent the EUA price drop can be justified by three commonly identified explanatory factors: the economic recession, renewable policies and the use of international credits. Capitalizing on marginal abatement cost theory and a broadly extended data set, we find that only variations in economic activity and the growth of wind and solar electricity production are robustly explaining EUA price dynamics. Contrary to simulation-based analyses, our results point to moderate interaction effects between the overlapping EU ETS and renewable policies. The bottom line, however, is that 90% of the variations of EUA price changes remains unexplained by the abatement-related fundamentals. Together, our findings do not support the widely-held view that negative demand shocks are the main cause of the weak carbon price signal. In view of the new evidence, we evaluate the EU ETS reform options which are currently discussed.
In recognition of fundamental changes in the way governments approach energy-related environmental issues, the IEA has prepared this publication on CO2 emissions from fuel combustion. This annual publication was first published in 1997 and has become an essential tool for analysts and policy makers in many international fora such as the Conference of the Parties.
The data in this book are designed to assist in understanding the evolution of the emissions of CO2 from 1971 to 2010 for more than 140 countries and regions by sector and by fuel. Emissions were calculated using IEA energy databases and the default methods and emission factors from the Revised 1996 IPCC Guidelines for National Greenhouse Gas Inventories.
An Additional Action Reserve (AAR) is proposed as a mechanism to allow for initiatives by government and voluntary private interests to make additional emissions reductions beyond a nationally set cap. The key idea of the AAR is to annually set aside a proportion of the Australian Emission Units (AEUs) which can then be retired if state or local government, businesses or individuals take specific emission reduction measures which go beyond those expected to be driven by the CPRS. AEUs allocated to the reserve that are not retired through additional activities would then be made available to CPRS participants. By providing an upper bound to such actions, the scheme would limit the uncertainty as to the quantity of available permits for emitters and provide a limit to the potential losses of auctioning revenue from AEU retirements. Compared to some other options to allow for additional action (such as buying-and-retiring of permits or future reductions of the national cap) the scheme combines the favorable features of accounting for tangible, psychologically-satisfying actions (such as installing a home solar PV system) with a transparent process that assures the participant that such actions are having an immediate effect in reducing national emissions. Elements of this approach have already been seen in the Regional Greenhouse Gas Initiative (RGGI), an inter-state emissions trading scheme which began in the United States in 2009.
Emission trading, del back-loading e di altre riforme
- V Caciagli
Macron seeking stiff carbon costs to avert climate change
- F De Beaupuy
- H Fouquet
Methods for evaluating the performance of emissions trading schemes
- M Sato
- T Laing
- S Cooper
- L Wang
Linking emissions trading schemes-Considerations and recommendations for a joint EU-Korean carbon market
- S Hawkins
- I Jegou
A guide to INDCs, intended nationally determinated contributions
- E Holdaway
- C Dodwell
Assessing the effectiveness of the EU emissions trading scheme
- T Laing
- M Sato
- M Grubb
- C Comberti
Taiwan to introduce emissions trading system
- Icap
Project implementation status report
- Pmr
Report of the conference of the parties on its nineteenth session, held in Warsaw from 11 to 23
- Unfccc
Emissions trading worldwide-Status Report
- Icap
Rules on cap setting and allowance allocation for emissions trading in China approved
- Icap
Effective carbon rates: Pricing CO2 through taxes and emissions trading systems
- Oecd
Nova Scotia releases cap-and-trade design options
- Icap
ICAP Quarterly-Global trends in emissions trading
- Icap