Clean Development, Energy Substitution, and Carbon Emissions: Evidence from Clean Development Mechanism (CDM) Project Implementation in China
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Abstract:
In the face of increasingly severe climate change and its disastrous effects, how to effectively tackle it and reduce carbon dioxide emissions has become an important global issue. Clean development mechanism (CDM) project implementation provides an opportunity for more developing countries to actively participate in global climate governance. As the largest global emitter of carbon dioxide, have China’s CDM projects slowed down carbon dioxide emissions? In order to answer this question, the study constructs panel data at the provincial level from 2000 to 2017 to investigate the emission-reduction effects of China’s CDM projects. Results showed that China’s CDM projects’ implementation significantly reduced carbon dioxide emissions per unit of gross domestic product (GDP) and the growth rate of carbon dioxide emissions. The emission reduction effects of different types of CDM projects have obvious heterogeneity. In addition, this study further found that China’s CDM projects’ implementation can not only effectively substitute traditional fossil energy, but also improve energy-utilization efficiency.The Kyoto Protocol, Emissions Trading and the CDM: An Analysis from Developing Countries Perspective
In this paper the Kyoto Protocol is analyzed from the perspective of developing countries. The literature on the Protocol's impact indicates that Annex B countries will benefit from an emissions trading regime and the benefit is highest when non-Annex B countries are also included in the trading system. The paper addresses the issue of allocation of gains to developing countries from the Clean Development Mechanism, when the CDM simulates emissions trading. It was found that gains to non-Annex B from participation in GHG mitigation might vary from $6 billion to $29 billion, about 7% and 20% respectively of the global gains in an emissions trading system. However, several institutional issues related to CDM design and implementation will have to be resolved before developing countries can optimize their gains. Indirect impacts of the Kyoto Protocol through trade, although expected to be significant, have not been included. To optimize their gains, non-Annex B countries need to actively participate in the design and implementation aspects of the CDM.
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