Critical Issues in Environmental Taxation series
Edited by Larry Kreiser, Ana Yábar Sterling, Pedro Herrera, Janet E. Milne and Hope Ashiabor
Chapter 10: GHG emissions trading schemes in Northeast Asia: an overview and analysis of current scenarios
The three large economies in Northeast Asia, Japan, China and the Republic of Korea, are all on the top 10 global GHG emitters list. The emissions of China have accelerated in the past two decades, and now surpass the US with China now the largest GHG emitter in the world. The CO2 emissions of the Republic of Korea increased dramatically during 1990–2006, while the emissions of Japan showed only a slight rise in the same period. From an overall perspective, the per capita CO2 emissions of China were still low in 2006, about half those of Japan and Korea, and one quarter those of the US. The intensity of China’s CO2 emissions by gross domestic product (GDP) was over three times that of Japan and twice that of the US (World Bank, 2010). Under the Kyoto Protocol, Japan committed to reducing its 1990 GHG emissions by 6 per cent between 2008 and 2012. As a mid- term target, Japan recently pledged to reduce its GHG emissions by 25 per cent from 1990 levels by 2020, with the proviso that all other major emitting countries achieve aggressive reductions. The Chinese central government set two ambitious climate targets in 2006; one was to reduce the intensity of national energy by 20 per cent by 2010, and the other was to increase the share of renewable energy in the total energy mix to 15 per cent by 2020.
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