Emission trading

Author: Wu Jian
Publisher:
Publish Date: 2005-05-01
Features: This book utilizes property rights theory and market theory to analyze the property rights system and market mechanisms of emissions trading, clarifying the essence of emissions trading policies—that they represent an institutional arrangement for the property rights of capacity resources. By establishing an emissions trading market, the allocation efficiency of capacity resources can potentially be improved. Alongside theoretical analysis, the book comprehensively summarizes and introduces the experiences and lessons learned from the implementation of emissions trading in the United States, as well as reviews the insights and issues identified in China's pilot programs for emissions trading. These valuable experiences will lay an important foundation for China to effectively manage environmental capacity resources using emissions trading policies. However, what effects will introducing emissions trading into China's environmental management system actually produce? Focusing on this practical policy choice, the book conducts an in-depth and specific empirical analysis of the power industry. As a foundational industry in the energy sector, the power industry serves as a barometer for China's economy. The pressure the power industry faces in reducing pollutants largely reflects the increasingly scarce environmental resource constraints encountered in China's economic development. Therefore, selecting the power industry for emission reduction policy analysis gives the theoretical research direct practical significance. Taking the emissions trading in the power industry as an example, the book comprehensively analyzes and predicts the potential policy effects of emissions trading, including innovations in the capacity resource management system, adjustments to the rules and relationships of relevant economic entities' environmental behaviors, and the resulting impacts on environmental management effectiveness and pollution reduction costs.