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Monitoring the CO(2) Emission Trajectory and Reduction Effects by ETS and Its Market Performances for Pre- and Post-pandemic China

The COVID-19 pandemic has caused great shocks on economic activities and carbon emissions. This paper aims to monitor the CO(2) emission trajectory in China before and after the pandemic outbreak, and analyze the emission reduction effects by ETS and its market performances, which are important dete...

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Detalles Bibliográficos
Autores principales: Luo, Kun, Xu, Aidi, Ye, Rendao, Li, Wenqian
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Frontiers Media S.A. 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8891160/
https://www.ncbi.nlm.nih.gov/pubmed/35252105
http://dx.doi.org/10.3389/fpubh.2022.848211
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author Luo, Kun
Xu, Aidi
Ye, Rendao
Li, Wenqian
author_facet Luo, Kun
Xu, Aidi
Ye, Rendao
Li, Wenqian
author_sort Luo, Kun
collection PubMed
description The COVID-19 pandemic has caused great shocks on economic activities and carbon emissions. This paper aims to monitor the CO(2) emission trajectory in China before and after the pandemic outbreak, and analyze the emission reduction effects by ETS and its market performances, which are important determinants underlying the trajectory and key drivers for emission reductions. We firstly find out a rather consistent trajectory of CO(2) emissions in pre- and post-pandemic China over a 2-year time horizon, using the near-real-time datasets of daily CO(2) emissions by Carbon Monitor and applying the Cox-Stuart trend test and mean equality test. We then examine the emission reduction effects by China's carbon ETS and its pilot market performances, using the methodologies of DID and PSM-DID as well as pre-pandemic region-level emission datasets by CEADs. Furthermore, it's found that the ETS pilot markets, which are immature with defects, have been performing more vulnerably in terms of liquidity and transaction continuity under pandemic shocks, thus undermining the emission reduction effects by ETS. These findings are providing insights into further mechanism design of the carbon ETS to the end of steady emission reductions even under shocks for post-pandemic China. It's of particular importance now that the nationwide market has been launched and needs to be enhanced based on lessons learned.
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spelling pubmed-88911602022-03-04 Monitoring the CO(2) Emission Trajectory and Reduction Effects by ETS and Its Market Performances for Pre- and Post-pandemic China Luo, Kun Xu, Aidi Ye, Rendao Li, Wenqian Front Public Health Public Health The COVID-19 pandemic has caused great shocks on economic activities and carbon emissions. This paper aims to monitor the CO(2) emission trajectory in China before and after the pandemic outbreak, and analyze the emission reduction effects by ETS and its market performances, which are important determinants underlying the trajectory and key drivers for emission reductions. We firstly find out a rather consistent trajectory of CO(2) emissions in pre- and post-pandemic China over a 2-year time horizon, using the near-real-time datasets of daily CO(2) emissions by Carbon Monitor and applying the Cox-Stuart trend test and mean equality test. We then examine the emission reduction effects by China's carbon ETS and its pilot market performances, using the methodologies of DID and PSM-DID as well as pre-pandemic region-level emission datasets by CEADs. Furthermore, it's found that the ETS pilot markets, which are immature with defects, have been performing more vulnerably in terms of liquidity and transaction continuity under pandemic shocks, thus undermining the emission reduction effects by ETS. These findings are providing insights into further mechanism design of the carbon ETS to the end of steady emission reductions even under shocks for post-pandemic China. It's of particular importance now that the nationwide market has been launched and needs to be enhanced based on lessons learned. Frontiers Media S.A. 2022-02-17 /pmc/articles/PMC8891160/ /pubmed/35252105 http://dx.doi.org/10.3389/fpubh.2022.848211 Text en Copyright © 2022 Luo, Xu, Ye and Li. https://creativecommons.org/licenses/by/4.0/This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
spellingShingle Public Health
Luo, Kun
Xu, Aidi
Ye, Rendao
Li, Wenqian
Monitoring the CO(2) Emission Trajectory and Reduction Effects by ETS and Its Market Performances for Pre- and Post-pandemic China
title Monitoring the CO(2) Emission Trajectory and Reduction Effects by ETS and Its Market Performances for Pre- and Post-pandemic China
title_full Monitoring the CO(2) Emission Trajectory and Reduction Effects by ETS and Its Market Performances for Pre- and Post-pandemic China
title_fullStr Monitoring the CO(2) Emission Trajectory and Reduction Effects by ETS and Its Market Performances for Pre- and Post-pandemic China
title_full_unstemmed Monitoring the CO(2) Emission Trajectory and Reduction Effects by ETS and Its Market Performances for Pre- and Post-pandemic China
title_short Monitoring the CO(2) Emission Trajectory and Reduction Effects by ETS and Its Market Performances for Pre- and Post-pandemic China
title_sort monitoring the co(2) emission trajectory and reduction effects by ets and its market performances for pre- and post-pandemic china
topic Public Health
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8891160/
https://www.ncbi.nlm.nih.gov/pubmed/35252105
http://dx.doi.org/10.3389/fpubh.2022.848211
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