Climate Change Research ›› 2013, Vol. 9 ›› Issue (2): 144-149.doi: 10.3969/j.issn.1673-1719.2013.02.010

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Review and Analysis on U. S. Carbon Emissions Trading System

Wen Yan1, Liu Changsong2, Luo Yong3, 4   

  1. 1 School of Economics and Management, Nanjing University of Information Science & Technology
    2 National Center for Climate Change Strategy and International Cooperation of China
    3 National Climate Center, China Meteorological Administration
    4 Center for Earth System Science/Institute for Global Change Studies, Tsinghua University
  • Received:2012-08-21 Revised:2013-01-21 Online:2013-03-30 Published:2013-03-30

Abstract: The current status and development prospects of two major carbon emissions trading systems in the U. S., namely voluntary emission reduction and cap-and-trade system, are reviewed in this paper. Voluntary emission reduction is hard to maintain due to lack of sufficient demand. In order to achieve the carbon reduction targets, the cap-and-trade system should be established to keep continuous carbon trading. Based on the experience from the U. S. Regional Greenhouse Gas Initiative, the Western Climate Initiative and California’s cap-and-trade system, it is suggested that China should have a trial implement of cap-and-trade system firstly in some provinces and industries with suitable conditions; in the beginning, free emission allowance should dominate, supplemented by auction, with restriction of the quantity and scope of carbon offsets. Then it gradually transited to full auction.

Key words: United States of America, carbon emissions trading system, cap-and-trade system

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