迈向全球碳市场.pdfVIP

TOWARDS A GLOBAL CARBON MARKET PROSPECTS FOR LINKING THE EU ETS TO OTHER CARBON MARKETS Executive summary 1 Jurisdictions with carbon markets currently account for about 40% of global economic activity (GDP) . Linking these diferent carbon markets with the ultimate goal of establishing a global carbon market is seen by many as an integral part of the future climate regime, since it can increase the pool of mitigation options available, thereby reducing costs and allowing countries to increase their climate ambition. These beneits however only materialize if the linked carbon markets have a similar level of ambition and a similar design for a number of key features, such as price controls, quantitative and qualitative restrictions on carbon ofsets, and the type of allocation method. Paradoxically, while lower abatement costs are an important economic motive for linking two emission trading systems, they can also constitute a signiicant political barrier, since citizens of the higher cost system might be reluctant to pay for emission reductions in the other jurisdiction. An analysis of seven existing carbon markets shows that the experience from linking the carbon markets in California and Quebec can provide valuable lessons for any future linkages. Notably, the two regions had very similar policy designs of their carbon markets before linking in 2013 because both Quebec and California are part of the Western Climate Initiative, which is a regional collaboration among several jurisdictions. Moreover, in both regions, carbon pricing is only a suppor