Assessing the maturity of China's seven carbon trading pilots

Indicators based on the developed version of the Capability Maturity Model were set up to access the maturity degree of China's seven pilot carbon markets from 2013 to 2017. Results show that the maturity degree of Shenzhen and Beijing pilot carbon markets ranks first; while those of Guangdong,...

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Main Authors: Zhe Liu, Yong-Xiang Zhang
Format: Article
Language:English
Published: KeAi Communications Co., Ltd. 2019-09-01
Series:Advances in Climate Change Research
Online Access:http://www.sciencedirect.com/science/article/pii/S167492781930022X
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spelling doaj-2c4bcf1505944bfea32ac724257c39c12021-02-02T07:36:43ZengKeAi Communications Co., Ltd.Advances in Climate Change Research1674-92782019-09-01103150157Assessing the maturity of China's seven carbon trading pilotsZhe Liu0Yong-Xiang Zhang1Policy Research Centre for Environment and Economy, Ministry of Ecology and Environment, Beijing, 100029, ChinaNational Climate Center, China Meteorological Administration, Beijing, 100081, China; Corresponding author.Indicators based on the developed version of the Capability Maturity Model were set up to access the maturity degree of China's seven pilot carbon markets from 2013 to 2017. Results show that the maturity degree of Shenzhen and Beijing pilot carbon markets ranks first; while those of Guangdong, Hubei, and Shanghai rank second. Tianjin and Chongqing rank lowest. Most of pilot markets failed to perform well on price efficiency except Shenzhen. There is significant disparity in the scores that the pilot carbon markets got, with a range from 9 to 73. The drivers to maintain market maturity is different among the pilot markets, either with a good performance on market structure, scale, or efficiency could lead to a certain score. Much could be done to increase the maturity level of the carbon market. Further downscaling the firm size, raising the legislation level, and increasing the participation of the third party entities may help the carbon market to grow healthier. Keywords: China, Carbon market pilots, Maturity assessment, Market structure, Market scale, Market efficiencyhttp://www.sciencedirect.com/science/article/pii/S167492781930022X
collection DOAJ
language English
format Article
sources DOAJ
author Zhe Liu
Yong-Xiang Zhang
spellingShingle Zhe Liu
Yong-Xiang Zhang
Assessing the maturity of China's seven carbon trading pilots
Advances in Climate Change Research
author_facet Zhe Liu
Yong-Xiang Zhang
author_sort Zhe Liu
title Assessing the maturity of China's seven carbon trading pilots
title_short Assessing the maturity of China's seven carbon trading pilots
title_full Assessing the maturity of China's seven carbon trading pilots
title_fullStr Assessing the maturity of China's seven carbon trading pilots
title_full_unstemmed Assessing the maturity of China's seven carbon trading pilots
title_sort assessing the maturity of china's seven carbon trading pilots
publisher KeAi Communications Co., Ltd.
series Advances in Climate Change Research
issn 1674-9278
publishDate 2019-09-01
description Indicators based on the developed version of the Capability Maturity Model were set up to access the maturity degree of China's seven pilot carbon markets from 2013 to 2017. Results show that the maturity degree of Shenzhen and Beijing pilot carbon markets ranks first; while those of Guangdong, Hubei, and Shanghai rank second. Tianjin and Chongqing rank lowest. Most of pilot markets failed to perform well on price efficiency except Shenzhen. There is significant disparity in the scores that the pilot carbon markets got, with a range from 9 to 73. The drivers to maintain market maturity is different among the pilot markets, either with a good performance on market structure, scale, or efficiency could lead to a certain score. Much could be done to increase the maturity level of the carbon market. Further downscaling the firm size, raising the legislation level, and increasing the participation of the third party entities may help the carbon market to grow healthier. Keywords: China, Carbon market pilots, Maturity assessment, Market structure, Market scale, Market efficiency
url http://www.sciencedirect.com/science/article/pii/S167492781930022X
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