jaue2023037: Research on Carbon Emissions Trading System in Zhejiang of Building Sector

Abstract

The Kyoto Protocol was signed in 1997 limited the emission of greenhouse gases resulting in the scarcity of carbon emission rights. This led to the global carbon market and carbon emission rights trading. China has witnessed a significant increase in carbon emissions over the last two decades. Carbon emissions generated from the construction industry is commonly appreciated as a major contributor (Chau et al., 2015), due to the development of urbanization, and the continuously increasing demand for energy service (Shuai et al., 2017). There are ten emissions trading systems (ETS) in China. So far, both Beijing and Shanghai have achieved sectoral coverage of buildings. Zhejiang does not currently have an emissions trading market. The paper uses the literature research method and comparative analysis method to provide a construction plan for a carbon emissions trading system in Zhejiang and to promote the building sector to be included in ETS. Meanwhile, the Saitama Target Setting Emissions Trading System and the Tokyo Cap-and-Trade Program in Japan both cover building sectors, which provide an essential reference for research and application. The construction of a carbon emission trading market in the construction industry will promote China's carbon peak and carbon neutrality.