Cai,W., Wang,C., Chen,J. and Wang,S.(2012): Sectoral crediting mechanism: How far China has to go. Energy Policy, 48, 770-778.

『部門別クレジット・メカニズム:中国はどこまでやらなければならないか』


Abstract
 Based on the review of the basic design of the sectoral crediting mechanism (SCM) - a promising option for developing countries' emission reduction commitments - this paper analyzes five important practical issues for China to solve before participating in SCM, which include (1) difficulties in determining a crediting baseline (2) the unsolved over-supply problem in the carbon market (3) the very likely “carbon credits falling short of mitigation costs” problem (4) the immature market-oriented price system jeopardizing the success of motivation incentives and (5) inadequate capacity building. Corresponding suggestions or compromise solutions are given after a discussion of each issue. It is also recommended that in order to witness SCM come into being, researchers and negotiators should endeavor to solve the practical issues that SCM meets now, bearing in mind the balance of interests of both developing and developed countries. Finally we believe that SCM's political barriers can be overcome when technical, economic institutional and capacity problems are solved.

Keywords: Sectoral crediting mechanism; Practical issues; China』

1. Introduction
2. Review on the basic design of SCM
 2.1. Which sectors are eligible to participate in SCM?
 2.2. Which type of sectoral crediting baseline is the most feasible in developing countries? How ambitious should be the baseline?
 2.3. How should SCN be implemented within developing countries?
3. Five important practical issues to solve for China to implement SCM
 3.1. Huge difficulties to determine crediting baseline and the acknowledgement of previous mitigation contributions
 3.2. Unresolved over-supply problem in carbon market
 3.3. Carbon credits May be far below domestic mitigation costs, jeopardizing the well-functioning of SCM incentives
 3.4. The market-oriented price system in China needs to be consolidated and strengthened
 3.5. Stakeholders need enormous capacity building and the domestic emission trading scheme needs to be established
4. Conclusions remarks
Acknowledgements
Appendix A. Different institutions' selections of suitable sectors to participate in sectoral approaches (criteria and results)
Appendix B. Important figures in calculations in Section 3.3
References


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