Abstract
Since implementing the reform and opening-up policy in 1978, China has been making considerable progress in building a socialist economy with Chinese characteristics, and exhibiting the intrinsic value of land, labor force, and capital which function as production factors in value creation and distribution. While the Chinese economic volume keeps expanding the resources and environment, energy and carbon emissions credits have become scarce elements that have received attention of policymakers. As such, establishing a market mechanism with energy consumption and carbon emissions as basic elements has become an especially important task.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Adopted at the Third Plenary Session of the 18th Central Committee of the Communist Party of China on November 12, 2013.
- 2.
Guangdong carbon market won total transaction amount above 1 billion yuan, becoming an inaugurator in several aspects across China http://economy.southcn.com/e/2016-05/13/content_147636109.htm.
- 3.
Allowances auction revenues to be injected into carbon fund for boosting emissions reduction [EB/OL]. Nanfang Daily [2014-12-11] http://epaper.southcn.com/nfdaily/html/2014-12/11/node_8.htm.
- 4.
Guangdong carbon trading turnover ranked first in China, a nationwide carbon trading platform is brewing [EB/OL]. Clean Development Mechanism in China (http://cdm-en.ccchina.org.cn/) [2016-7-14].
- 5.
GPS: generalized system of preference.
- 6.
The letters “P” and “H” in “PHCER” are two initials of Chinese Pinyin, respectively representing “generalized” (P) and “preferences” (H).
- 7.
References
Weidong Liu. Guangdong allowances trading revenue exceeding 1 bln yuan, ranking first in many areas [EB/OL]. Nanfang Daily: http://economy.southcn.com/e/2016-05/13/content_147636109.htm.
Nanfang Daily. Allowances auction revenues to be injected into carbon fund for boosting emissions reduction [EB/OL]. http://epaper.southcn.com/nfdaily/html/2014-12/11/node_8.htm [2014-12-11].
Nanfang Weekly. Guangdong: allowances demand exceeding supply in the first auction of each year for four years in a row [EB/OL]. China Carbon Trading website: http://www.tanjiaoyi.com/article-18785-1.html.
Nanfang Daily. Guangdong carbon trading turnover ranked first in China, a nationwide carbon trading platform is brewing [EB/OL]. Clean Development Mechanism in China: http://cdm.ccchina.gov.cn/Detail.aspx?newsId=62452 [2016-7-14].
Jianjun Zhang, Guangdong carbon trading volume hitting 180 Mt, rising to the world third largest carbon market [EB/OL]. http://finance.sina.com.cn/china/dfjj/20150811/055022929891.shtml [2015-8-11].
Guangdong Provincial Development and Reform Commission. Guangdong Carbon Emission Allowance Management and Implementation Rules [EB/OL]. http://www.gd.gov.cn/govpub/bmguifan/201503/t20150324_210857.htm. [2015-2-16].
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2019 China Environment Publishing Group Co., Ltd. and Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Zhao, D., Wang, W., Luo, Z. (2019). Development Track and Policy Context of Guangdong Carbon Market. In: A Brief Overview of China’s ETS Pilots. Springer, Singapore. https://doi.org/10.1007/978-981-13-1888-7_8
Download citation
DOI: https://doi.org/10.1007/978-981-13-1888-7_8
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-13-1887-0
Online ISBN: 978-981-13-1888-7
eBook Packages: Earth and Environmental ScienceEarth and Environmental Science (R0)