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1.
This study establishes theoretical models of supply and demand for carbon trading and proposes conditions for optimal trading prices and periods. Taiwan’s carbon market is used to verify the validity of the models. Simulations and empirical analysis position firms that emit greenhouse gases as the market buyers, and landowners that convert agricultural lands into plantation forests as the market sellers. The study compares four trading scenarios to determine optimal trading prices and time periods. There were four key conclusions. First, the higher the buyer’s cost to reduce carbon emissions, the higher the demand price is in the carbon trading market. The longer the trading period, the higher the carbon offsets, and the higher the demand price is for emissions trading. Second, the higher the emission trading price, the longer the optimal forest rotation period is for landowners. If emission costs do not exist at the time of logging, landowners are encouraged to log early, reducing the length of rotation periods. Furthermore, as the extension period in the trading scenarios increases, landowners’ costs increase, raising the market equilibrium price. Third, when landowners participate in forest carbon trading mechanisms or carbon subsidy policies, they may not always lengthen forest rotation periods. Therefore, if and when the government implements these mechanisms or policies, it should consider the factors affecting the length of forest rotation period. Finally, to respond to international interest in reducing greenhouse gas emissions, the government should design separate carbon programs and trading mechanisms for different types of private landowners. This would strengthen incentives for participating in the afforestation program. 相似文献
2.
This study establishes theoretical models of supply and demand for carbon trading and proposes conditions for optimal trading prices and periods. Taiwan’s carbon market is used to verify the validity of the models. Simulations and empirical analysis position firms that emit greenhouse gases as the market buyers, and landowners that convert agricultural lands into plantation forests as the market sellers. The study compares four trading scenarios to determine optimal trading prices and time periods. There were four key conclusions. First, the higher the buyer’s cost to reduce carbon emissions, the higher the demand price is in the carbon trading market. The longer the trading period, the higher the carbon offsets, and the higher the demand price is for emissions trading. Second, the higher the emission trading price, the longer the optimal forest rotation period is for landowners. If emission costs do not exist at the time of logging, landowners are encouraged to log early, reducing the length of rotation periods. Furthermore, as the extension period in the trading scenarios increases, landowners’ costs increase, raising the market equilibrium price. Third, when landowners participate in forest carbon trading mechanisms or carbon subsidy policies, they may not always lengthen forest rotation periods. Therefore, if and when the government implements these mechanisms or policies, it should consider the factors affecting the length of forest rotation period. Finally, to respond to international interest in reducing greenhouse gas emissions, the government should design separate carbon programs and trading mechanisms for different types of private landowners. This would strengthen incentives for participating in the afforestation program. 相似文献
3.
Carbon finance is considered one of the most efficient methods to address the issue of climate change. The problem of how to establish and improve China’s carbon financial system requires theoretical study as well as practical policies. A literature review of the effects of financial macroenvironment on carbon emissions was conducted. The purpose is to investigate the relationships of long-run equilibrium and short-run dynamics through the ARDL-ECM model among carbon intensity and macroenvironment factors including financial development, financial innovation, stock market turnover and foreign direct investment. And the former three are proven as long-term drivers of carbon intensity decline while FDI are insignificant to mitigate it. There is also a short-term dynamic adjustment among them. A main contribution to the literature in China studies the methods to reduce carbon intensity by taking into account the role of financial macroenvironment, especially the financing environment. Considering establishing an efficient carbon finance system, indirect financing tools represented by financial development could be more significant than direct financing ones represented by stock market turnover. 相似文献
4.
Based on an input–output model, this paper calculates carbon emissions from household energy consumption in 2002, 2005, 2007, and 2010 between China and the USA. By a comparative analysis of the two countries, the results indicate the following: (1) In terms of the total household indirect carbon emissions, the USA has always been at a higher level than China. However, in recent years, China has presented a rapidly rising trend. In contrast, the USA appears to be experiencing a downward trend. (2) Indirect carbon emissions from USA household consumption mainly focus on Residence; Education, Culture, and Recreation; and Transport and Communications. By comparison, residence accounts for 50 % of China’s household indirect carbon emissions, and seven other sectors are much less than the USA (3) Although the number of China’s household facilities is growing rapidly, the carbon emissions remain at a relatively steady level. (4) In terms of the absolute value of the indirect carbon emissions from housing, the USA maintains a steady 400 million ton, while China increased from 150 to 500 million ton over 2002–2010. 相似文献
5.
The paper uses a capital asset pricing model to analyze the market risk in the European Union Emission Trading System (EU ETS) and clean development mechanisms (CDM) and Zipf analysis technology to analyze the carbon price volatility in different expectations of returns in the two markets. The results show that the systematic risk of the EU ETS market is around 0.07 %, but the CDM market is clearly divided into two stages; the systematic risk of the futures contracts in the first stage (DEC09–DEC12) is less than the EU ETS market, but the systematic risk of the futures contracts that enter the market is greater than the EU ETS market and has a higher market sensitivity, although on the unsystematic risk. The CDM market is always greater than the EU ETS market. Abnormal returns in the two carbon markets are both lower than 0.02 %, but CDM is higher. The probability of price down is greater than that of price up. The carbon price is affected by market mechanisms and external factors (economic crisis and environmental policies) in the low expectations of returns. However, in the high expectations of returns, compared with the CDM market, the carbon price change in the EU ETS market is less stable and has higher risks. 相似文献
6.
China’s petrochemical industries are playing an important role in China’s economic development. However, the industries consume large amounts of energy and have become primary sources of carbon emission. In this paper, the change in carbon emissions from China’s petrochemical industries between 2000 and 2010 was quantitatively analyzed with the Log-Mean Divisia Index method, which was decomposed into economic output effect, industrial structural effect and technical effect. The results show that economic output effect is the most important factor driving carbon emission growth in China’s petrochemical industries; industrial structural effect has certain decrement effect on carbon emissions; adjustment of industrial structure by developing low-carbon emission industrial sectors may be a better choice for reducing carbon emissions; and the impact of technical effect varies considerably without showing any clear decrement effect trend over the period of year 2000–2010. The biggest challenge is how to make use of these factors to balance the relationship between economic development and carbon emissions. This study will promote a more comprehensive understanding of the inter-relationships of economic development, industrial structural shift, technical effect and carbon emissions in China’s petrochemical industries and is helpful for exploration of relevant strategies to reduce carbon emissions. 相似文献
7.
The paper uses a capital asset pricing model to analyze the market risk in the European Union Emission Trading System (EU ETS) and clean development mechanisms (CDM) and Zipf analysis technology to analyze the carbon price volatility in different expectations of returns in the two markets. The results show that the systematic risk of the EU ETS market is around 0.07 %, but the CDM market is clearly divided into two stages; the systematic risk of the futures contracts in the first stage (DEC09–DEC12) is less than the EU ETS market, but the systematic risk of the futures contracts that enter the market is greater than the EU ETS market and has a higher market sensitivity, although on the unsystematic risk. The CDM market is always greater than the EU ETS market. Abnormal returns in the two carbon markets are both lower than 0.02 %, but CDM is higher. The probability of price down is greater than that of price up. The carbon price is affected by market mechanisms and external factors (economic crisis and environmental policies) in the low expectations of returns. However, in the high expectations of returns, compared with the CDM market, the carbon price change in the EU ETS market is less stable and has higher risks. 相似文献
8.
China’s petrochemical industries are playing an important role in China’s economic development. However, the industries consume large amounts of energy and have become primary sources of carbon emission. In this paper, the change in carbon emissions from China’s petrochemical industries between 2000 and 2010 was quantitatively analyzed with the Log-Mean Divisia Index method, which was decomposed into economic output effect, industrial structural effect and technical effect. The results show that economic output effect is the most important factor driving carbon emission growth in China’s petrochemical industries; industrial structural effect has certain decrement effect on carbon emissions; adjustment of industrial structure by developing low-carbon emission industrial sectors may be a better choice for reducing carbon emissions; and the impact of technical effect varies considerably without showing any clear decrement effect trend over the period of year 2000–2010. The biggest challenge is how to make use of these factors to balance the relationship between economic development and carbon emissions. This study will promote a more comprehensive understanding of the inter-relationships of economic development, industrial structural shift, technical effect and carbon emissions in China’s petrochemical industries and is helpful for exploration of relevant strategies to reduce carbon emissions. 相似文献
9.
Human activities have become a major source of Earth’s climate change, which brings the rise of surface air temperature and subsurface ocean temperature. Therefore, promoting sustainable consumption and production patterns is imperative to minimize the use of natural resources and reduce emissions of pollutants. This study uses Economic Input–Output Life-Cycle Assessment method and structural decomposition model to identify the driving forces that influence the changes in carbon emissions from China’s residential consumption in the context of sustainable consumption. The findings of the study are as follows: (1) indirect carbon emissions from Chinese household consumption increase rapidly over time; (2) the largest carbon dioxide emitting sector turns from agriculture sector in 1992 into service sector in 2007; (3) the consumption level and the emission intensity are the main drivers that influence the change in indirect carbon emissions; and (4) the factor of consumption level presents positive effect on the emissions, while the emission intensity effect plays a negative role. Besides, the factors of urbanization, production structure, population size and consumption structure also promote the rapid increase in carbon emissions. 相似文献
10.
Human activities have become a major source of Earth’s climate change, which brings the rise of surface air temperature and subsurface ocean temperature. Therefore, promoting sustainable consumption and production patterns is imperative to minimize the use of natural resources and reduce emissions of pollutants. This study uses Economic Input–Output Life-Cycle Assessment method and structural decomposition model to identify the driving forces that influence the changes in carbon emissions from China’s residential consumption in the context of sustainable consumption. The findings of the study are as follows: (1) indirect carbon emissions from Chinese household consumption increase rapidly over time; (2) the largest carbon dioxide emitting sector turns from agriculture sector in 1992 into service sector in 2007; (3) the consumption level and the emission intensity are the main drivers that influence the change in indirect carbon emissions; and (4) the factor of consumption level presents positive effect on the emissions, while the emission intensity effect plays a negative role. Besides, the factors of urbanization, production structure, population size and consumption structure also promote the rapid increase in carbon emissions. 相似文献
11.
Private sector actors are playing an increasingly significant role in the definition and governance of ‘sustainable’ agri-food practices. Yet, to date little attention has been paid by social scientists to how greenhouse gas (GHG) emissions are addressed as part of private agri-food governance arrangements. This paper examines how private actors within agri-food supply chains respond to emerging pressure for measures to reduce GHG emissions from agriculture. Drawing upon the Anglo-Foucauldian governmentality literature, we introduce the notion of the corporate carbon economy to conceptualise the practical techniques that enable private agri-food actors to make GHG emissions thinkable and governable in the context of existing market, regulatory, and supply chain pressures. Using a case study of the Australian dairy industry, we argue that private agri-food actors utilise a range of techniques that enable them to respond to existing government environmental regulations, balance current market pressures with future supply chain requirements, and demonstrate improved eco-efficiency along food supply chains. These techniques – which include environmental self-assessment instruments, tools for measuring GHG emissions, and sustainability reporting – have little direct relevance to the ‘international climate regime’ of carbon trading, and carbon markets more broadly, yet individually and in combination they are crucial in enacting an alternative regime of GHG governance. In concluding, we contend that the growing use of sustainability metrics by international food companies is likely to have the most powerful implications for GHG governance in the agri-food sector, with potentially far-reaching consequences for how future action on climate change is rendered thinkable and practicable. 相似文献
12.
Agriculture produced the largest methane emissions in China. It is of great importance to investigate effect of fertilizer using intensity on the environmental efficiency of China’s agriculture. This paper mainly investigates the determinants of environmental efficiency of China’s agriculture. First, we estimate environmental efficiency of China’s agriculture of 30 provinces from 1997 to 2014 through metafrontier SBM super efficiency with undesirable outputs, which allow for technology heterogeneity in different regions. Then, we compare environmental efficiency in different regions. Furthermore, we also analyze whether heterogeneity of environmental technology widened or decreased. Last, we also explore the determinants of environmental efficiency of China’s agriculture through bootstrap truncation regression. We find that fertilizer intensity negatively affects environmental efficiency. Urbanization has significant positive (1.454) effect on environmental efficiency under metafrontier in the east. It is significant use more organic fertilizer to decrease CO 2 (carbon dioxide) emissions. It is important to enhance environmental innovation for China’s agriculture. 相似文献
13.
Natural Hazards - Whether China’s carbon emissions trading (CET) has an impact on the financial performance of the market players of carbon trading, i.e., firms, is crucial to the sustainable... 相似文献
14.
Climate change is a common problem in human society. The Chinese government promises to peak carbon dioxide emissions by 2030 and strives to achieve carbon neutralization by 2060. The proposal of the goal of carbon peak and carbon neutralization has led China into the era of climate economy and set off a green change with both opportunities and challenges. On the basis of expounding the objectives and specific connotation of China’s carbon peak and carbon neutralization, this paper systematically discusses the main implementation path and the prospect of China’s carbon peak and carbon neutralization. China’s path to realizing carbon neutralization includes four directions: (1) in terms of carbon dioxide emission control: energy transformation path, energy conservation, and emission reduction path; (2) for increasing carbon sink: carbon capture, utilization, and storage path, ecological governance, and land greening path; (3) in key technology development: zero-carbon utilization, coal new energy coupling, carbon capture utilization and storage (CCUS), energy storage technology and other key technology paths required to achieve carbon peak and carbon neutralization; (4) from the angle of policy development: Formulate legal guarantees for the government to promote the carbon trading market; Formulate carbon emission standards for enterprises and increase publicity and education for individuals and society. Based on practicing the goal and path of carbon peak and carbon neutralization, China will vigorously develop low carbon and circular economy and promote green and high-quality economic development; speed up to enter the era of fossil resources and promoting energy transformation; accelerate the integrated innovation of green and low-carbon technologies and promote carbon neutrality.©2021 China Geology Editorial Office. 相似文献
15.
本文通过系统分析2003-2008年石油期货市场过度炒作的影响和动因, 结合不同历史时期国际石油期货市场机制的演变, 指出目前的石油期货市场已由以往的价格发现、平抑油价和规避风险的场所, 转变为发达国家和国际大型金融机构借以谋利和制约发展中国家经济社会发展的工具; 提出目前的石油市场机制使中国的石油安全乃至经济安全面临严峻的挑战, 中国应一方面提高国内企业和金融机构参与国际金融市场交易的能力, 积极参与国际石油期货市场交易, 以规避价格波动的风险; 另一方面加快步伐打造中国的石油期货市场, 获得国际石油定价权。 相似文献
16.
The transport sector is a major consumer of fossil fuels and, consequently, one of the largest sources of greenhouse gas emissions and air pollutant emissions. In recent years, global transport’s emissions have experienced a remarkable increase and will become a crucial cause of global warming in the next few decades. The public has become well aware of the issues regarding carbon emissions in this sector, and reducing greenhouse gases has also become a regulatory agenda of governments around the globe. Emissions trading schemes are considered one of the most cost-efficient ways of controlling greenhouse gas emissions and have been implemented by many countries around the world. While several countries have already incorporated the transport sector into their emissions trading schemes, China is in the process of incorporating a part of the transport sector into its emission trading scheme pilots. Introducing a market mechanism to reduce carbon emissions in the transport sector is still at a nascent stage and much is still to be explored. This paper explores the current development and challenges of applying carbon trading mechanisms in the transport sector around the world. Then, the paper analyzes the policies and current developments of incorporating the transport sector in China’s carbon trading pilots. Several suggestions are then provided in regard to options on transport sector entities coverage, initial allowance allocation models, integration of carbon trading policies with existing policies, collection of transportation statistics and rolling out a nationwide carbon trading system. 相似文献
17.
China’s macroeconomic policy framework has been determined to ensure steady growth, adjust the industrial structure and advance the socioeconomic reforms in recent years. And urbanization is supposed to be one of the most important socioeconomic reform directions. Meanwhile, China also committed to reduce carbon emissions intensity by 2020, then it should be noted that what kind of impact of these policy orientations on carbon emission intensity. Therefore, based on the historical data from 1978 to 2011, this paper quantitatively studies the impact of China’s economic growth, industrial structure and urbanization on carbon emission intensity. The results indicate that, first, there is long-term cointegrating relationship between carbon emission intensity and other factors. And the increase in the share of tertiary industry [i.e., the ratio of tertiary industry value added to gross domestic product (GDP)] and economic growth (here we use the real GDP per capita) play significant roles in curbing carbon emission intensity, while the promotion of population urbanization (i.e., the share of population living in the urban regions of total population) may lead to carbon emission intensity growth. Second, there exists significant one-way causality running from the urbanization rate and economic growth to carbon emission intensity, respectively. Third, among the three drivers, economic growth proves the main influencing factor of carbon emission intensity changes during the sample period. 相似文献
18.
The impact of trade on the environment and the climate has become a focus of attention. Tending to develop industries with higher added values, developed countries rely on importing high energy consumption goods from developing countries, and however, some CO 2 emissions are embodied in the process of import. Currently, the accounting method of the territorial responsibility used to get the international data of greenhouse gas inventories ignores the difference between domestic consumption and export demands. Thus, developing countries bear the responsibility of pollution emissions from the export. The steel industry is an important basic industry of China’s national economy as well as a vital part in the industrial system. With the expansion of trade scale, the impact of the export and import of China’s steel on CO 2 emissions is growing. This paper studied the embodied CO 2 emissions in the trade of China’s steel from 2005 to 2014, using the input–output model and the trade data of the China’s steel imports and exports. The results indicate that (1) the complete CO 2 emissions of China’s steel industry are high. (2) The increase in the export scale makes the embodied CO 2 emissions in the trade of China’s steel export increase, and (3) China is a net exporter of CO 2 emissions in the steel trade. Especially after 2007, the value of China’s steel exports has been larger than that of China’s steel imports, so China had borne much CO 2 emissions responsibility in the trade of China’s steel. Therefore, this paper puts forward that, in the future, the export structure of goods should be optimized into the high-tech products with the high added value, low energy consumption and low carbon emissions, and meanwhile, service industry is promoted to improve technical support to reduce CO 2 emissions in the steel industry. 相似文献
19.
In order to investigate the main drivers of CO 2 emissions changes in China during the 11th Five-Year Plan period (2006–2010) and seek the main ways to reduce CO 2 emissions, we decompose the changes of energy-related CO 2 emissions using the production-theoretical decomposition analysis approach. The results indicate that, first, economic growth and energy consumption are the two main drivers of CO 2 emissions increase during the sample period; particularly in the northern coastal, northwest and central regions, where tremendous coal resources are consumed, the driving effect of their energy consumption on CO 2 emissions appears fairly evident. Second, the improvement of carbon abatement technology and the reduction in energy intensity play significant roles in curbing carbon emissions, and comparatively the effect of carbon abatement technology proves more significant. Third, energy use technical efficiency, energy use technology and carbon abatement technical efficiency have only slight influence on CO 2 emissions overall. In the end, we put forward some policy recommendations for China’s government to reduce CO 2 emissions intensity in the future. 相似文献
20.
This paper explores China’s strategies for addressing climate change on the industrial level. Focusing on six energy-intensive industries, this paper applies gray relational analysis theory to the affecting factors to CO 2 emissions of each industry after calculating each industry’s CO 2 emissions during 2001–2010. Further research based on GM(1, 1) model is conducted to forecast the trend of the factors, the energy consumption and each industry’s CO 2 emissions during the 12th Five-Year Plan period. As a breakthrough in previous conclusions, energy consumption structure was divided into the respective proportion of coal, oil, natural gas and electricity in the primary energy consumption, with which industrial output and energy intensity are combined to analyze each of their impacts on the energy-intensive industries. It turns out that all the factors’ impacts on emissions of the six major energy-intensive industries are significant, despite their differentiated extents. It is worth noting that, contrary to previous findings, industrial output is not the leading affecting factor to CO 2 emissions of the energy-intensive industries compared with the proportion of coal and electricity in the primary energy consumption. The GM(1, 1) forecast results of energy consumption and CO 2 emissions by the end of 2015 show that coal and electricity will remain a large proportion in primary energy consumption. This research may shed some light on China’s adjustment of energy structure under the pressure of addressing climate change and hence provide decision support for the acceleration of renewable energy utilization in the industrial departments. 相似文献
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