The information on the China national ETS represents early unofficial estimates based on the announcement of China’s National Development and Reform Commission on the launch of the national ETS of December 2017. Due to the dynamic approach to continuously improve data quality, changes to the graph do not only reflect new developments, but also corrections following new information from official government sources. If emissions that are covered by multiple carbon pricing initiatives shown in the graph, these are attributed to the carbon pricing initiative that was introduced first. The GHG emissions coverage for each jurisdiction is based on official government sources and/or estimates. From 2015 onwards, the share of global GHG emissions is based on 2015 emissions from EDGAR. The coverage of each carbon pricing initiative is presented as a share of annual global GHG emissions for 1990-2015 based on data from the Emission Database for Global Atmospheric Research (EDGAR) version 5.0 including biofuels emissions. Voluntary carbon markets allow carbon emitters to offset their emissions by purchasing carbon credits emitted by projects targeted at removing or reducing. Note: Only the introduction or removal of an ETS or carbon tax is shown. Carbon pricing has evolved over the years and initiatives do not necessarily follow the two categories in a strict sense.ĭue to the dynamic approach to continuously improve data quality, changes to the map do not only reflect new developments, but also corrections following new information from official government sources. However, systems operating like a baseline-and-offsets program, such as Australia Safeguard Mechanism, fall outside the scope of the definition of ETS. ETS does not only refer to cap-and-trade systems, but also baseline-and-credit systems such as in British Columbia. Carbon pricing initiatives have been classified as ETSs and carbon taxes according to how they operate technically local terminology may vary. Jurisdictions that only mention carbon pricing in their NDCs are not included as different interpretations of the NDC text are possible. Note: Carbon pricing initiatives are considered "scheduled for implementation" once they have been formally adopted through legislation and have an official, planned start date.Ĭarbon pricing initiatives are considered “under consideration” if the government has announced its intention to work towards the implementation of a carbon pricing initiative and this has been formally confirmed by official government sources.
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