Research on the efficiency of carbon trading market in China

Xin-gang, Zhao; Wu, Lei; Li, Ang

doi:10.1016/j.rser.2017.05.034

Cited by 169 publications

(60 citation statements)

References 14 publications

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“…China introduced seven pilot schemes in 2013. Since the implementation of CN-ETS, its effectiveness becomes a hot issue for regulators and academicians in China [26][27][28][29][30][31][32]. Prior research concludes that the implementation of an ETS can effectively improve the carbon transparency of companies [33,34].…”

Section: Carbon Emission Trading System and Quality Of Carbon Emissiomentioning

confidence: 99%

Impact of Carbon Emission Trading System Participation and Level of Internal Control on Quality of Carbon Emission Disclosures: Insights from Chinese State-Owned Electricity Companies

et al. 2020

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In recent years, the quality of carbon emission disclosures has become a central area of concern for different stakeholders of companies. Specifically, stakeholders of state-owned enterprises (SOEs) want these companies to legitimize their actions regarding carbon emissions reductions reporting. The current study aims to explore the impact of carbon emission trading system participation and the level of internal control on the quality of carbon emission disclosures. Using a sample of Chinese state-owned electricity companies from 2012 to 2018 and employing the difference-in-differences (DID) method, we find a positive impact of the carbon emission trading system participation on the quality of carbon emission disclosures, which suggests that the state-owned electricity companies' participation in the carbon emission trading system leads to the higher quality of carbon emission disclosures. Likewise, we find a positive relationship between the level of internal control and the quality of carbon emission disclosures, which suggests that the state-owned electricity companies with stronger internal control provide the higher quality of carbon emission disclosures. In addition, we find that the findings are only significant in the case of central SOEs as compared to local SOEs. Our findings contribute to the practical, policy, and research implications as the quality of carbon disclosures is the primary concern from a variety of stakeholders.

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Section: Carbon Emission Trading System and Quality Of Carbon Emissiomentioning

confidence: 99%

Impact of Carbon Emission Trading System Participation and Level of Internal Control on Quality of Carbon Emission Disclosures: Insights from Chinese State-Owned Electricity Companies

et al. 2020

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“…The laws should focus on the quota attributes, market supervision subjects, the rights and responsibilities of the parties involved in the transactions, and strict punishment. Meanwhile, relevant explanatory documents are to be issued to reveal details of each of the trading steps [19,43,56,70].…”

Section: Legal and Policy Systemmentioning

confidence: 99%

China’s Carbon Market Development and Carbon Market Connection: A Literature Review

Hua

Dong

2019

Energies

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As a responsible world power, China has established quantitative carbon emission reduction targets and started to establish carbon trading pilots in 2013. Successfully connection and a certain size of the carbon market can further enhance the liquidity of carbon allowances and, to a certain extent, contribute to the enthusiasm of enterprises to participate. This paper gives an overview of the past operational development of China’s eight carbon market pilots, the current problems in the national carbon market, the elements that need to be improved during the establishment process, and the feasibility of future connection between China’s carbon market. In addition, the international carbon market was summarized and analyzed. We found that, compared with the already mature carbon market in the world, there is still a big gap between China and these countries’ carbon market in various respects, such as the carbon price formation mechanism, the carbon quota allocation, carbon emission coverage sources, and legal and policy systems. Thus, China should manifest the pricing mechanism, unify the allocation of carbon quotas, cover the sources of emissions, introduce clear laws and regulations in the construction of the carbon market, all these will ensure the smooth operation of the national carbon market.

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“…Here, we need to explain the numbers in the appendix so that the reader can understand the system better. The economic parameter values are determined as follows for some of the formulas of Appendix A, such as (3), (6), (8), (18), (22), (24), and (26). We first use the data of CES to estimate the value and magnitude of each economic parameter according to the relationships among GDP, energy consumption, and CO 2 emissions of the Beijing-Tianjin-Hebei region.…”

Section: Datamentioning

confidence: 99%

The Sustainable Development of the Economic-Energy-Environment (3E) System under the Carbon Trading (CT) Mechanism: A Chinese Case

Xin-gang

Zhang

et al. 2018

Sustainability

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Abstract:The implementation of the carbon trading (CT) mechanism is important for the transformation of China's renewable energy industry, thereby affecting the structure of energy, economy, and the environment, and determining the sustainable development of China's economic-energyenvironment (3E) system in the future. This paper constructs a 3E system simulation model under the CT mechanism based on the theory of system dynamics and taking the Beijing-Tianjin-Hebei region as an example. We study the internal operation mechanism of the carbon emissions trading system and its impact on 3E by combing the related mechanisms of the CT market, CO 2 emissions, energy consumption, and gross domestic product (GDP), thereby helping to provide references for policy-making institutions. The results show that the implementation of CT can effectively reduce energy consumption growth and carbon emissions in the Beijing-Tianjin-Hebei region, and the negative impact of CT implementation on GDP is significantly lower than its positive impact on reducing carbon emissions and energy consumption. Thus, the CT mechanism is conducive to the sustainable development of the Beijing-Tianjin-Hebei region's 3E system. In addition, reducing the total amount of quota, reducing free quota, and increasing CT price can effectively promote carbon emission reduction, thus promoting the sustainable development of the 3E system.

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Research on the efficiency of carbon trading market in China

Cited by 169 publications

References 14 publications

Impact of Carbon Emission Trading System Participation and Level of Internal Control on Quality of Carbon Emission Disclosures: Insights from Chinese State-Owned Electricity Companies

Impact of Carbon Emission Trading System Participation and Level of Internal Control on Quality of Carbon Emission Disclosures: Insights from Chinese State-Owned Electricity Companies

China’s Carbon Market Development and Carbon Market Connection: A Literature Review

The Sustainable Development of the Economic-Energy-Environment (3E) System under the Carbon Trading (CT) Mechanism: A Chinese Case

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