"State and Trends of Carbon Market in 2011" published by the World Bank in June 2011
2011) research report pointed out that most Annex I and non-Annex I countries of the Kyoto Protocol have promoted measures related to greenhouse gas emission reductions, among which the European Union will promote the third phase of the carbon emissions trading plan starting from 2013.
(2013-2020), Japan, South Korea, mainland China, etc. have also begun to plan and establish carbon emissions trading markets. Under the Kyoto Protocol carbon emissions trading mechanism, the international carbon emissions trading market will experience an oversupply trend in carbon rights from 2008 to 2012.
1. Major countries’ promotion of carbon emissions trading
(1) Countries in Annex I of the Kyoto Protocol
1. European Union: It plans to enter the third phase of carbon emissions trading plan starting from 2013. In order to gradually implement the polluter pays principle, it is expected that the proportion of emissions allocated through auction will be changed from the second phase of the plan.
(from 2008 to 2012), which increased significantly to more than 50%. The European Union also decided to include aircraft entering and leaving Europe into the European Emissions Trading Scheme (EUETS) starting in 2012. However, it was strongly opposed by the American Air Transport Association and the China Aviation Administration, and threatened to take retaliatory actions.
2. United States: Although the United States belongs to Annex I of the Kyoto Protocol, the protocol has not been approved by Congress and the federal government is unwilling to assume the responsibility for reduction. Therefore, it has not actively promoted the carbon emissions trading system. However, some state governments (such as California) and private organizations ( Such as the Chicago Board of Trade) has begun to establish relevant mechanisms.
3. Japan: Proposed the "Basic Act on Global Warming Measures" (draft) in March 2010
Countermeasures), set a target of reducing greenhouse gas emissions by 25% in 2020 compared with 1990, and planned to introduce a cap and emissions trading system. However, it encountered strong opposition from the industry, causing the draft to
The bill has not yet been passed by legislation.
4. Australia: In February 2011, it introduced a carbon emission rights swap system, and plans to promote the "Cabon Price Mechanism" from July 2012 and gradually introduce an emissions trading system.
(2) Non-Annex I countries under the Kyoto Protocol
1. Mainland China: The "Twelfth Five-Year Plan" was announced in March 2011, setting an emission reduction target of 40-45% lower carbon intensity (CO2/GDP) in 2015 than in 2005. It is expected that carbon dioxide will be introduced in 2015. Emissions trading system.
2. India: Since 2008, it has promoted eight major energy-saving and carbon-reducing plans, including solar photovoltaics, energy conservation, and sustainable homes. In 2011, it proposed an emission reduction target of reducing carbon intensity by 20 to 25% in 2020 compared with 2005. However, currently There is no relevant plan for a carbon emissions trading mechanism.
3. Brazil: In December 2009, the National Climate Change Policy was passed, setting a target of reducing greenhouse gas emissions by 36.1 to 38.9% in 2020 compared with the baseline (Business as Usual), and planning to build a carbon emission trading market.
4. South Korea: The Framework Act on Low Carbon, Green Growth was passed in 2010, authorizing administrative units to promote cap control and emissions trading systems, and plans to promote related systems from 2015.
2. Future trends of the international carbon emissions trading market
The World Bank estimates that between 2008 and 2012, the international carbon emissions trading market will have a supply of approximately 300 million tons of Clean Development Mechanism Carbon Emissions Certificates (CERs), while the carbon emissions demand of the parties to the Kyoto Protocol is only 130 million tons. The international carbon emissions trading The market as a whole shows an oversupply phenomenon.
Although our country is not a party to the Kyoto Protocol and will not be directly restricted by the protocol, in order to fulfill its responsibility as a member of the global village, the government approved the "National Energy Conservation and Carbon Reduction Master Plan" in May 2010 and formulated the 2020
Carbon dioxide emissions will return to 2005 and 2025, respectively.
annual level goals. In order to achieve the emission reduction target, the Environmental Protection Agency of the Executive Yuan has developed the "Greenhouse Gas Reduction Act" (draft) as a legal source to promote cap control and emissions trading in the future. Before legislation is passed, consider the essence of the draft law
God, the Ministry of Economic Affairs has first promoted the voluntary reduction agreement and offset project plan to encourage early reduction of emission sources and lay the foundation for the establishment of a domestic carbon emissions trading market in the future.
Source: Zili Evening News (2011-10-08)