The size of the carbon market study: discussion

Zhang, ZhongXiang (2000): The size of the carbon market study: discussion.

Abstract

This is an invited discussion on the Morozova and Stuart’s paper “The Size of the Carbon Market Study”. It suggests a number of issues for consideration in appropriately estimating the size of carbon markets. They include Annex 1 (industrialised) countries’ baseline emissions; qualitative and quantitative assessments of the role of carbon sinks; and the difficulty from an economic and legal perspective of interpreting and inferring impacts in relation to specific provisions attached to each flexibility mechanism for regulating the extent of their use.

• Item Type: MPRA Paper
• Language: English
• Keywords: Emissions trading; Clean development mechanism; Joint implementation; Carbon market; Greenhouse gases; European Union; Supplementarity restrictions
• Subjects: Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics > Q52 - Pollution Control Adoption and Costs ; Distributional Effects ; Employment Effects; R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R13 - General Equilibrium and Welfare Economic Analysis of Regional Economies; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics > Q54 - Climate ; Natural Disasters and Their Management ; Global Warming; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5 - Environmental Economics > Q58 - Government Policy

References

European Union (1999), “Community Strategy on Climate Change: Council Conclusions, No. 8346/99,” 18 May, Brussels.

Morozova, S. and M. Stuart (2000), “The Size of the Carbon Market Study”, Prepared for the United Nations Conference on Trade and Development, Geneva.

Zhang, Z.X. (1997), “The Economics of Energy Policy in China: Implications for Global Climate Change”, New Horizons in Environmental Economics Series, Edward Elgar Publishing Limited, Cheltenham, England.

Zhang, Z.X. (1999), “Estimating the Size of the Potential Market for All Three Flexibility Mechanisms under the Kyoto Protocol”, Report Prepared for the Asian Development Bank under Contract TA-5592-REG.

Zhang, Z.X. (2000), “Estimating the Size of the Potential Market for the Kyoto Flexibility Mechanisms”, Weltwirtschaftliches Archiv - Review of World Economics, Vol. 136, No. 3, pp. 491-521.

Zhang, Z.X. (2002), “The Economic Effects of An Alternative EU Emissions Baseline”, Journal of Policy Modeling, Vol. 24, pp. 667-677.

Zhang, Z.X. (2001), “An Assessment of the EU Proposal for Ceilings on the Use of Kyoto Flexibility Mechanisms”, Ecological Economics, Vol. 37, No. 1, pp. 53-69.