A pilot regional carbon emission trading scheme (ETS) has been implemented in China for more than two years. An investigation into the impacts of different factors on carbon dioxide (CO2) emission allowance prices provides guidance for price-making in 2017 when the nation-wide ETS of China will be established. This paper adopts a quantile regression approach to estimate the impacts of different...

As an important tool to control CO2 emission, carbon emission trading (CET) has been highlighted in prior studies for its positive effects on firms. However, we are concerned about the role of CET corporate financing. Through a quasi-natural experiment from China’s pilot, regarded as start-up stage system, investigate manufacturing financing (i.e., debt and commercial credit financing). The res...

8 We investigate how different designs for a carbon offset mechanism like the Kyoto Protocol’s Clean Development Mechanism (CDM) affect the success of self-enforcing climate treaties. In a game-theoretic numerical model of coalition formation it is shown that effects of emission trading with non-signatories are generally negative if strategic behaviour and free-rider incentives are explicitly c...

This paper proposes a real options model for evaluating the biomass power generation investment in China. The uncertainties in the market price of electricity, CO2 price and straw price are considered. Meanwhile the dynamic relationship between installed capacity and fuel cost, as well as the long-term reduction of subsidy are described. Two scenarios, i.e., with the carbon emission trading sch...

Clean development mechanism (CDM) is encountering many uncertainties due to the coming end of the commitment period and critically suggested reformation. As the largest participant in the CDM market, China shoulders the biggest proportion of market risk. Among the studies on CDM in China, few have focused upon the legal aspect of CDM, which is crucial in defending developers’ interests. To fill...

Aiming at the problems existing in low-carbon technology of Chinese manufacturing industries, such as irrational energy structure, lack of technological innovation, financial constraints, this paper puts forward the suggestion that the leading role of the government is combined with the roles of enterprises and market. That is, through increasing the governmental funding the adjustment of the i...

Article history: Received 20 August 2014 Received in revised form 7 January 2015 Accepted 10 January 2015 Available online 31 January 2015 Emission trading scheme was devised to lower the cost of achieving greenhouse gas emission reductions: emissions are reducedwhere it is cheapest and emission certificates are then traded to meet the nominal targets for each participant. However, carbon marke...