Establishing National Carbon Emission Prices for China

The purpose of the paper is to establish national carbon emissions prices for the People’s Republic of China, which is one of the world’s largest producers of carbon emissions. Several measures have been undertaken to address climate change in China, including the establishment of a carbon trading s...

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Detalles Bibliográficos
Autores: Chang, Chia-Lin, Mai, Te-Ke, McAleer, Michael
Tipo de recurso: informe técnico
Fecha de publicación:2018
País:España
Institución:Universidad Complutense de Madrid (UCM)
Repositorio:Docta Complutense
Idioma:inglés
OAI Identifier:oai:docta.ucm.es:20.500.14352/17417
Acceso en línea:https://hdl.handle.net/20.500.14352/17417
Access Level:acceso abierto
Palabra clave:C22
C58
G12
Q35
Q48
Pricing Chinese carbon emissions
National pricing policy
Energy
Volatility
Energy finance
Provincial decisions.
Econometría (Economía)
Mercados bursátiles y financieros
5302 Econometría
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oai_identifier_str oai:docta.ucm.es:20.500.14352/17417
network_acronym_str ES
network_name_str España
repository_id_str
spelling Establishing National Carbon Emission Prices for ChinaChang, Chia-LinMai, Te-KeMcAleer, MichaelC22C58G12Q35Q48Pricing Chinese carbon emissionsNational pricing policyEnergyVolatilityEnergy financeProvincial decisions.Econometría (Economía)Mercados bursátiles y financieros5302 EconometríaThe purpose of the paper is to establish national carbon emissions prices for the People’s Republic of China, which is one of the world’s largest producers of carbon emissions. Several measures have been undertaken to address climate change in China, including the establishment of a carbon trading system. Since 2013, eight regional carbon emissions markets have been established, namely Beijing, Shanghai, Guangdong, Shenzhen, Tianjin, Chongqing, Hubei and Fujian. The Central Government announced a national carbon emissions market, with power generation as the first industry to be considered. However, as carbon emissions prices in the eight regional markets are very different, for a variety of administrative reasons, it is essential to create a procedure for establishing a national carbon emissions price. The regional markets are pioneers, and their experience will play important roles in establishing a national carbon emissions market, with national prices based on regional prices, turnovers and volumes. The paper considers two sources of regional data for China’s carbon allowances, which are based on primary and secondary data sources, and compares their relative strengths and weaknesses. The paper establishes national carbon emissions prices based on the primary and secondary regional prices, for the first time, and compares both national prices and regional prices against each other. The carbon emission prices in Hubei, Guangdong, Shenzhen and Tianjin are highly correlated with the national prices based on the primary and secondary sources. Establishing national carbon emissions prices should be very helpful for the national carbon emissions market that is under construction in China, as well as for other regions and countries worldwide.Facultad de CC Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)Universidad Complutense de Madrid20182018-01-0120182018-01-01technical reporthttp://purl.org/coar/resource_type/c_18ghinfo:eu-repo/semantics/reportapplication/pdfhttps://hdl.handle.net/20.500.14352/17417reponame:Docta Complutenseinstname:Universidad Complutense de Madrid (UCM)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Atribución-NoComercial-CompartirIgual 3.0 Españahttps://creativecommons.org/licenses/by-nc-sa/3.0/es/info:eu-repo/semantics/openAccessoai:docta.ucm.es:20.500.14352/174172026-06-02T12:44:21Z
dc.title.none.fl_str_mv Establishing National Carbon Emission Prices for China
title Establishing National Carbon Emission Prices for China
spellingShingle Establishing National Carbon Emission Prices for China
Chang, Chia-Lin
C22
C58
G12
Q35
Q48
Pricing Chinese carbon emissions
National pricing policy
Energy
Volatility
Energy finance
Provincial decisions.
Econometría (Economía)
Mercados bursátiles y financieros
5302 Econometría
title_short Establishing National Carbon Emission Prices for China
title_full Establishing National Carbon Emission Prices for China
title_fullStr Establishing National Carbon Emission Prices for China
title_full_unstemmed Establishing National Carbon Emission Prices for China
title_sort Establishing National Carbon Emission Prices for China
dc.creator.none.fl_str_mv Chang, Chia-Lin
Mai, Te-Ke
McAleer, Michael
author Chang, Chia-Lin
author_facet Chang, Chia-Lin
Mai, Te-Ke
McAleer, Michael
author_role author
author2 Mai, Te-Ke
McAleer, Michael
author2_role author
author
dc.contributor.none.fl_str_mv Universidad Complutense de Madrid
dc.subject.none.fl_str_mv C22
C58
G12
Q35
Q48
Pricing Chinese carbon emissions
National pricing policy
Energy
Volatility
Energy finance
Provincial decisions.
Econometría (Economía)
Mercados bursátiles y financieros
5302 Econometría
topic C22
C58
G12
Q35
Q48
Pricing Chinese carbon emissions
National pricing policy
Energy
Volatility
Energy finance
Provincial decisions.
Econometría (Economía)
Mercados bursátiles y financieros
5302 Econometría
description The purpose of the paper is to establish national carbon emissions prices for the People’s Republic of China, which is one of the world’s largest producers of carbon emissions. Several measures have been undertaken to address climate change in China, including the establishment of a carbon trading system. Since 2013, eight regional carbon emissions markets have been established, namely Beijing, Shanghai, Guangdong, Shenzhen, Tianjin, Chongqing, Hubei and Fujian. The Central Government announced a national carbon emissions market, with power generation as the first industry to be considered. However, as carbon emissions prices in the eight regional markets are very different, for a variety of administrative reasons, it is essential to create a procedure for establishing a national carbon emissions price. The regional markets are pioneers, and their experience will play important roles in establishing a national carbon emissions market, with national prices based on regional prices, turnovers and volumes. The paper considers two sources of regional data for China’s carbon allowances, which are based on primary and secondary data sources, and compares their relative strengths and weaknesses. The paper establishes national carbon emissions prices based on the primary and secondary regional prices, for the first time, and compares both national prices and regional prices against each other. The carbon emission prices in Hubei, Guangdong, Shenzhen and Tianjin are highly correlated with the national prices based on the primary and secondary sources. Establishing national carbon emissions prices should be very helpful for the national carbon emissions market that is under construction in China, as well as for other regions and countries worldwide.
publishDate 2018
dc.date.none.fl_str_mv 2018
2018-01-01
2018
2018-01-01
dc.type.none.fl_str_mv technical report
http://purl.org/coar/resource_type/c_18gh
dc.type.openaire.fl_str_mv info:eu-repo/semantics/report
format report
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.14352/17417
url https://hdl.handle.net/20.500.14352/17417
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Atribución-NoComercial-CompartirIgual 3.0 España
https://creativecommons.org/licenses/by-nc-sa/3.0/es/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Atribución-NoComercial-CompartirIgual 3.0 España
https://creativecommons.org/licenses/by-nc-sa/3.0/es/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Facultad de CC Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
publisher.none.fl_str_mv Facultad de CC Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
dc.source.none.fl_str_mv reponame:Docta Complutense
instname:Universidad Complutense de Madrid (UCM)
instname_str Universidad Complutense de Madrid (UCM)
reponame_str Docta Complutense
collection Docta Complutense
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.811543

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