The emission trading system is an important institutional innovation which effectively uses market mechanisms to improve the efficiency of environmental governance, and plays an important role in exploiting the potential of emission reduction for government and enterprise, which would realize the optimal allocation of environmental resources. The study analyses the design mechanism of emission trading system, the crucial parts including verification of emission rights, paid use for resources, emission trading, reserve and control mechanism, as well as management and incentive policies. Thereby, the current problems of emission trading system in China have been found out, including the deficiency of top-level design, ineffective cohesive mechanism between different systems, inactive trading market, and insufficient supporting policy guarantee policy. Based on the development trend of national policies and the practical problems faced by emission trading, the study proposes four prospects for the emission trading efforts. First, the issuance of guidance documents for deepening the emission trading system at the national level is an important foundation for the development of the emission trading system. Second, convergence between the emission rights trading and the emission permit system is the inevitable trend of the development of the system. Third, working on promoting the construction of a trading system dominated by market mechanisms is the focus of the optimal allocation of resources and environment. Last, establishing and improving relevant supporting mechanisms is an important guarantee for the stable development of the emission rights trading market and the efficient allocation of environmental resources.
| Published in | Journal of Energy and Natural Resources (Volume 13, Issue 4) |
| DOI | 10.11648/j.jenr.20241304.12 |
| Page(s) | 152-159 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Emission Trading, Environmental Resources, Policy Research
| [1] | Wang Jinnan, Zhang Bing, Wu Yueying, al. Paid use and trading of emission rights in china: practice and prospects [J] Environmental Protection, 2014 42(14): p. 22-25. |
| [2] | Wu Jian, Ma Zhong The theoretical contribution of Coase's theorem to emissions trading policies, Journal of Xiamen University (Philosophy and Social Sciences Edition) [J], 2004(03): p. 21-25. |
| [3] | Wang Jinnan, Dong Zhanfeng, Yang Jintian, al. The latest practice and prospect of emissions trading system [J] Environmental Economics 2008(10): p. 31-45 |
| [4] | Yu Jie, Zhou Weiduo, Jiang Jinxing. Emission trading: theoretical introduction and localization practice [J] Journal of China University of Geosciences: Social Sciences Edition, 2014, 14(6): 9. |
| [5] | Liu Congping. On the determinants of economic benefits in environmental pollution control [J] Environmental Science and Management, 2006, 31(2): 4. |
| [6] | Zhao Haixia. An analysis of the optimal design of emissions trading under transaction costs [J] Environmental Science and Technology, 2006, 29(5): 45-47. |
| [7] | Zhao Wenhui. A review of theoretical research on initial emission rights allocation [J] Industrial Technology and Economics, 2008, 27(8): 3. |
| [8] | Zheng Feifei, Jia Ailing Related issues and improvement of initial allocation of emission rights [J] Journal of China Environmental Management Cadre College, 2016(3): 4. |
| [9] | Duan Jiali, Zhang Baohui, Chang Chang, al. Exploration and research on the establishment of emission trading market [J] Environment and Sustainable Development, 2020, 45(2): 3. |
| [10] | Du Qunfei. Research on the problems and countermeasures of the current marketization mechanism of emission trading [J] Ecological Economy, 2015, 31(1): 6. |
| [11] |
Lv Zhongmei, You Mingqing. The path to improving the carbon market system under global weak aggregate constraints: from the perspective of global greenhouse gas total control Journal of Zhejiang University (Humanities and Social Sciences Edition), 2023(11): 28-39.
https://doi.org/10.3785/j.issn.1008-942X.CN33-6000/C.2022.11.198 |
| [12] | Markus Sahman, Lars Zetterberg. Options for Emission Allowance Allocation Under the EU Emission Trading Directive [J]. Mitigation and Adaptation Strategies for Global, 2007, 6(8): 23-28. |
| [13] | Benz, Sturm, Bodo, Andreas. Auctioning of CO2 Emission Allowances in Phase 3 of EU Emissions Trading Scheme [J]. Discussion Papers, 2009, 10(2): 37-63. |
| [14] | Verschuuren J M, Fleurke F M. Effective auctioning of European Union emissions trading scheme allowances in a globalized market for carbon dioxide [J]. IEEE International Engineering Management, 2013, 11(9): 48-59. |
| [15] | Lin Hong. Emissions trading: solving the bottleneck problem in economic development, Environmental Economics, 2004, (03): 29-34. |
| [16] | Xu Fang, Liu Fu, Tian Yiwen. A brief analysis of emissions trading [J] Environmental Protection, 2010, 6(28): 28-35. |
| [17] | Bai Li. Development of emission trading theory and practice. 1 ed. Zhejiang Province. Zhejiang Gongshang University Press, 2019, 96. |
| [18] | Hu Caijuan. The evolution of emission trading in the United States, basic experience and inspiration for China [J] Reform of Economic System, 2017(03): 164-169. |
APA Style
Zhang, H., Jiang, C., Huang, J., Wang, Y., Duan, Z. (2024). The Role and Prospect of Emission Trading in the Optimal Allocation of Environmental Resources. Journal of Energy and Natural Resources, 13(4), 152-159. https://doi.org/10.11648/j.jenr.20241304.12
ACS Style
Zhang, H.; Jiang, C.; Huang, J.; Wang, Y.; Duan, Z. The Role and Prospect of Emission Trading in the Optimal Allocation of Environmental Resources. J. Energy Nat. Resour. 2024, 13(4), 152-159. doi: 10.11648/j.jenr.20241304.12
AMA Style
Zhang H, Jiang C, Huang J, Wang Y, Duan Z. The Role and Prospect of Emission Trading in the Optimal Allocation of Environmental Resources. J Energy Nat Resour. 2024;13(4):152-159. doi: 10.11648/j.jenr.20241304.12
Share This Article
Twitter
Linked In
Facebook
Copy
Download@article{10.11648/j.jenr.20241304.12,
author = {Haixu Zhang and Chunlai Jiang and Jinying Huang and Yaolin Wang and Zhiguo Duan},
title = {The Role and Prospect of Emission Trading in the Optimal Allocation of Environmental Resources
},
journal = {Journal of Energy and Natural Resources},
volume = {13},
number = {4},
pages = {152-159},
doi = {10.11648/j.jenr.20241304.12},
url = {https://doi.org/10.11648/j.jenr.20241304.12},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jenr.20241304.12},
abstract = {The emission trading system is an important institutional innovation which effectively uses market mechanisms to improve the efficiency of environmental governance, and plays an important role in exploiting the potential of emission reduction for government and enterprise, which would realize the optimal allocation of environmental resources. The study analyses the design mechanism of emission trading system, the crucial parts including verification of emission rights, paid use for resources, emission trading, reserve and control mechanism, as well as management and incentive policies. Thereby, the current problems of emission trading system in China have been found out, including the deficiency of top-level design, ineffective cohesive mechanism between different systems, inactive trading market, and insufficient supporting policy guarantee policy. Based on the development trend of national policies and the practical problems faced by emission trading, the study proposes four prospects for the emission trading efforts. First, the issuance of guidance documents for deepening the emission trading system at the national level is an important foundation for the development of the emission trading system. Second, convergence between the emission rights trading and the emission permit system is the inevitable trend of the development of the system. Third, working on promoting the construction of a trading system dominated by market mechanisms is the focus of the optimal allocation of resources and environment. Last, establishing and improving relevant supporting mechanisms is an important guarantee for the stable development of the emission rights trading market and the efficient allocation of environmental resources.
},
year = {2024}
}
TY - JOUR T1 - The Role and Prospect of Emission Trading in the Optimal Allocation of Environmental Resources AU - Haixu Zhang AU - Chunlai Jiang AU - Jinying Huang AU - Yaolin Wang AU - Zhiguo Duan Y1 - 2024/11/21 PY - 2024 N1 - https://doi.org/10.11648/j.jenr.20241304.12 DO - 10.11648/j.jenr.20241304.12 T2 - Journal of Energy and Natural Resources JF - Journal of Energy and Natural Resources JO - Journal of Energy and Natural Resources SP - 152 EP - 159 PB - Science Publishing Group SN - 2330-7404 UR - https://doi.org/10.11648/j.jenr.20241304.12 AB - The emission trading system is an important institutional innovation which effectively uses market mechanisms to improve the efficiency of environmental governance, and plays an important role in exploiting the potential of emission reduction for government and enterprise, which would realize the optimal allocation of environmental resources. The study analyses the design mechanism of emission trading system, the crucial parts including verification of emission rights, paid use for resources, emission trading, reserve and control mechanism, as well as management and incentive policies. Thereby, the current problems of emission trading system in China have been found out, including the deficiency of top-level design, ineffective cohesive mechanism between different systems, inactive trading market, and insufficient supporting policy guarantee policy. Based on the development trend of national policies and the practical problems faced by emission trading, the study proposes four prospects for the emission trading efforts. First, the issuance of guidance documents for deepening the emission trading system at the national level is an important foundation for the development of the emission trading system. Second, convergence between the emission rights trading and the emission permit system is the inevitable trend of the development of the system. Third, working on promoting the construction of a trading system dominated by market mechanisms is the focus of the optimal allocation of resources and environment. Last, establishing and improving relevant supporting mechanisms is an important guarantee for the stable development of the emission rights trading market and the efficient allocation of environmental resources. VL - 13 IS - 4 ER -
Research Center for Emission Trading and Reduction, Chinese Academy of Envoronmental Planning, Beijing, China
Emissions Trading Section, Eco-environment Low Carbon Development Center of Inner Mongolia, Hohhot, China
