Edited by Qin Tianbao
Tianbao Qin and Meng Zhang
Currently China’s ETS (Emissions Trading Scheme) is going through a dynamic, varying and vigorous phase of local pilot experiments via a bottom-up approach pushed by incentive central policies. Although China has made remarkable progress on the development of emissions trading, there is still a long way to go to achieve the final goal. Based on the description and analysis concerning the specific features of the local pilots, we may draw a conclusion on the important problems at present and what China can do to achieve a sustainable development of a national ETS in the future. Key issues for the next pilot stage are the formulation and enforcement of a transparent and harmonious regulatory framework at both national and regional levels, capacity building, particularly concerning enterprise participation and creating a reliable carbon market, and, finally, the fusion of the Chinese ETS into the Asian and the international carbon market.