Many economic studies suggest that China would reap significant benefits from participating in a global cap-and-trade regime. The question then is that even if such a regime is so beneficial to China, why China has consistently refused in international negotiations even to discuss its...

Although many economic studies suggest that China would reap significant benefits from participating in a global cap-and-trade regime, China has consistently refused to participate in international negotiations on this issue. Understanding China's underlying concerns is a key to explaining why...

The U.S. and China are the world's largest and second largest CO2 emitters, respectively, and to what extent the U.S. and China get involved in combating global climate change is extremely important both for lowering compliance costs of climate mitigation and adaptation and for moving...

Experience with existing multilateral environmental agreements (MEAs) shows that trade measures agreed to within the MEAs themselves may not necessarily lead to a dispute between parties. On the contrary, there is a great chance that disputes may arise from national measures undertaken to fulfil...

The Kyoto Protocol incorporates emissions trading, joint implementation and the clean development mechanism to help Annex I countries to meet their Kyoto targets at a lower overall cost. This paper aims to estimate the size of the potential market for all three flexibility mechanisms under the...

The Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC) has set legally binding emissions targets for a basket of six greenhouse gases and timetables for industrialised countries. It has also incorporated three international flexibility mechanisms. However, the...

Many studies have emphasized the importance of China's participation in combating global climate change, but they looked at the role of China mainly from the point of view that future, uncontrolled increases in CO2 emissions in China will offset all emissions reductions in industrialized...

Article 17 of the Kyoto Protocol authorises emissions trading, but the rules governing emissions trading have been deferred to subsequent conferences. In designing and implementing an international greenhouse gas (GHG) emissions trading scheme, assigning liability rules has been considered to be...

Many studies have emphasized the importance of China's participation in combating global climate change, but they looked at the role of China mainly from the point of view that future, uncontrolled increases in CO2 emissions in China will offset all emissions reductions in industrialized...

The Kyoto Protocol is the first international environmental agreement that sets legally binding greenhouse gas emissions targets and timetables for Annex I countries. It incorporates emissions trading, joint implementation and the clean development mechanism. Because each of the Articles...