The Tokyo ETS is the first emission trading scheme to control GHG emissions from office buildings. Although the Tokyo government claimed that Tokyo ETS had been successful, some argued that the emission reduction under Tokyo ETS was actually the result of electric power price increases triggered...

The Tokyo emissions trading scheme (ETS) is the first regional ETS in Japan where a national ETS has not been introduced. In this study, we estimate the policy impacts of the Tokyo ETS on energy usage and economic activities in the scheme’s first phase (2010-2014) and the first four years of...