China is currently the world's largest single source of fossil fuel related CO2 emissions. In response to pressure from the international community, and in recognition of its role in global climate change mitigation, the Chinese government has announced a series of climate policy commitments, in...

We present a summary of current initiatives to climate change management including a review of existing carbon trading schemes and the economic arguments supporting those schemes. We also outline conditions under which the existing carbon market structures are optimal as well as those under...