Market-based solution in China to finance the clean from the dirty

作     者：Haoqi Qian Rong Ma Libo Wu Haoqi Qian;Rong Ma;Libo Wu

作者机构：Institute for Global Public PolicyFudan UniversityShanghai 200433China LSE-Fudan Research Centre for Global Public PolicyFudan UniversityShanghai 200433China School of EconomicsFudan UniversityShanghai 200433China Shanghai Institute for Energy and Carbon Neutrality StrategyFudan UniversityShanghai 200433China 

出 版 物：《Fundamental Research》 (自然科学基础研究（英文版）)

年 卷 期：2024年第4卷第2期

页      面：324-333页

核心收录：

学科分类：12[管理学] 02[经济学] 0202[经济学-应用经济学] 1201[管理学-管理科学与工程(可授管理学、工学学位)] 020204[经济学-金融学（含∶保险学）] 

基　　金：supported by the National Key Research and Development Program of China(2020YFA0608600) the National Natural Science Foundation of China(71925010,72121002,71703027) Shanghai Talent Development Fund(2021098) 

主　　题：Emission trading scheme Renewable energy portfolio standard Green finance Policy interactions China certified emission reduction Distribution effect 

摘      要：Financial incentives play a key role in promoting renewable energy investments that can help China achieve the‘dual carbon’*** national emissions trading scheme(ETS)and the renewable energy portfolio standard(RPS)are two existing market-based policy instruments that can generate stable expected returns for low-carbon *** paper studies the interactive distribution effects of these two market-based *** use the micro-level thermal power plant data to investigate the abatement effects of the national ETS,in which the details show that the existing rate-based ETS will result in higher negative impacts on power units,whose installed capacities are smaller than 400 *** interactive distribution effects between the two markets will occur when the permit allocation standards of the national ETS become stricter than the existing *** in Eastern China and Northern China will face high pressure on costs in both ETS and RPS *** the levels of the permit allocation standards are set as 70%of the existing ones and the carbon price is assumed to be 200 yuan/ton in 2030,the annual market size of the national ETS will be nearly 100 billion yuan,and the annual market size is predicted to be 250 billion *** the existing rate-based national ETS,the China Certified Emission Reduction(CCER)mechanism will have an offsetting effect,which should be taken into serious consideration during the policy-making processes in the future.