Upon completion, China’s national emissions trading scheme (C-ETS) will be the largest carbon market in the world. Recent research has evaluated China’s seven pilot ETSs launched from 2013 on, and academic literature on design aspects of the C-ETS abounds. Yet little is known about the specific details of the upcoming C-ETS. This article combines currently understood details of China’s national carbon market with lessons learned in the pilot schemes as well as from the academic literature. Our review follows the taxonomy of Emissions Trading in Practice: A Handbook on Design and Implementation (Partnership for Market Readiness & International Carbon Action Partnership. (2016). Retrieved from www.worldbank.org): The 10 categories are: scope, cap, distribution of allowances, use of offsets, temporal flexibility, price predictability, compliance and oversight, stakeholder engagement and capacity building, linking, implementation and improvements.
Key policy insights
Accurate emissions data is paramount for both design and implementation, and its availability dictates the scope of the C-ETS.
The stakeholder consultative process is critical for effective design, and China is able to build on its extensive experience through the pilot ETSs.
Current policies and positions on intensity targets and Clean Development Mechanism (CDM) credits constrain the market design of the C-ETS.
Most critical is the nature of the cap. The currently discussed rate-based cap with ex post adjustment is risky. Instead, an absolute, mass-based emissions cap coupled with the conditional use of permits would allow China to maintain flexibility in the carbon market while ensuring a limit on CO2 emissions.
AbstractThis study developed prestressed high-strength concrete (PHC) piles reinforced with high-strength materials (glass fiber-reinforced polymer (GFRP) bars) for flexural performance enhancement. Flexural strengths and behaviors of PHC piles reinforced with hybrid GFRP and steel bars were experimentally investigated, respectively. Large-scale specimens with total lengths of 12,000?mm and diameters of 600?mm were constructed and tested under bending, accompanied by evaluation of effects of non-prestressed reinforcement type and longitudinal reinforcement ratio. J-factors were calculated to evaluate deformability of all the specimens. PHC piles reinforced with GFRP bars were demonstrated to have much higher flexural capacity than those reinforced with steel bars. Moreover, strains at the midspans of cross sections of all the specimens basically conformed to the assumption of plane section. Failure of PHC piles reinforced with GFRP bars was attributable to gradual concrete crushing, while that of PHC piles reinforced with steel bars resulted from steel yielding. Results of this study were expected to provide theoretical basis for wide engineering applications of PHC piles reinforced with hybrid GFRP bars and steel bars in marine structures. 相似文献