研討日期	2025年02月10日10:30-12:20
研討地點	國立臺灣大學社會科學院710會議室
主講題目 Title of the paper	China’s unconventional nationwide CO2 emissions trading system: Cost-effectiveness and distributional impacts
作者 Authors of the paper	Lawrence H. Goulder, Xianling Long , Jieyi Lu , Richard D. Morgenstern
文獻出處 Journal, vol.(issue), pp	Journal of Environmental Economics and Management Volume 111, January 2022, 102561
主講人	Anggoro Prihandoko
參加人員	黃鴻、林燕淑、許至乙、王羿傑、林晏如、Bui Dang-Long、Ayu Sasni Munte、Micah Mainala、Anggoro Prihandoko
摘要 Abstract of the Paper	China is implementing what is expected to become the world’s largest CO2 emissions trading system. To reduce emissions, the nation employs a tradable performance standard (TPS), a ratebased instrument differing significantly from cap&trade (C&T) and a carbon tax, emissions pricing instruments used elsewhere. With matching analytically and numerically solved models, we assess the cost-effectiveness and distributional impacts of China’s TPS for reducing CO2 emissions from the power sector. The TPS implicitly subsidizes electricity output, which limits the use of output-reduction as a channel for reducing emissions. It also gives power plants with especially low emissions-output ratios incentives to expand output relative to business-as-usual levels. These features compromise the TPS’s cost-effectiveness relative to C&T. The use of differing benchmarks (emissionsintensity standards) also compromises cost-effectiveness by distorting relative production levels and by lowering the cost-reducing potential of allowance trading. In our central case simulations, the TPS’s overall costs are about 34 percent higher than those of C&T. Although the use of non-uniform benchmarks compromises cost-effectiveness, it can help serve regional distributional objectives. We assess the aggregate costs of customizing benchmarks in order to reduce the adverse profit impacts in provinces that otherwise would suffer a disproportionate cost from the TPS.