Abstract
This article critically analyses the background to China’s carbon market reforms and assesses the country’s current progress in introducing cap-and-trade systems for carbon credits, participating in the clean development mechanism provided for in the Kyoto Protocol, and promoting a voluntary carbon market. The article explains how China, using a command and control approach it has employed previously in other spheres, has established cap-and-trade emissions markets as pilot schemes in selected parts of the country, and is now quickly moving towards the creation of a national carbon market. The article then considers the potential for China’s carbon market to be linked with other commensurate markets overseas, in particular that of Australia, a development that would help achieve global emission reduction targets at lower overall cost.
Original language | English |
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Pages (from-to) | 446-458 |
Number of pages | 13 |
Journal | Environmental and Planning Law Journal |
Volume | 34 |
Issue number | 5 |
Publication status | Published - 1 Sept 2017 |
Bibliographical note
Publisher Copyright:© 2017, Thomson Reuters (Professional) Australia Ltd. All rights reserved.
Keywords
- Australian Carbon Markets
- Cap-and-Trade Systems
- China's Carbon Markets
- Clean Development Mechanism
- Kyoto Protocol