Abstract
The entry into force of the “Kyoto Protocol” means not only the start of legal binding of greenhouse gas emission reduction goals and duties on industrialized countries, but also the beginning of greenhouse gas emission reductions via market mechanism. Global carbon markets have been primarily established so far and can be divided into quota based markets and project based markets. Quota based carbon markets are represented by the CO2 emission trading scheme of EU, while project based carbon markets are mainly the CDM project markets and JI project markets. Carbon market plays an important role in CO2 emission reductions, decrease of emission reduction cost, publicity of emission reduction policy, carbon financing and promotion of low carbon development.
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© 2011 Science Press Beijing and Springer-Verlag Berlin Heidelberg
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Zhang, Y., Wang, K., Wei, Y., Liu, L. (2011). International Carbon Market and Its Impacts on CO2 Emission Abatement. In: Wei, Y., Wu, G., Liu, L., Zou, L. (eds) Energy Economics: CO2 Emissions in China. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-13847-8_9
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