Journal of Climate Change Research (한국기후변화학회지)

The Korean Society of Climate Change Research (한국기후변화학회)
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Analysis of Design Elements and Barriers to Link the Emission Trading Systems between the Republic of Korea and China

한·중 배출권거래제 연계를 위한 설계요소 및 장애요인 분석

  • Park, Su Gyeong (Dept. of Climatic Environment, Korea University) ;
  • Park, Soon chul (Korea Institute of Industrial Technology) ;
  • Song, Cholho (Dept. of Environmental Science and Ecological Engineering, Korea University) ;
  • Lim, Chul-Hee (Institute of Life Science and Natural Resources, Korea University) ;
  • Lee, Soo Jeong (Dept. of Environmental Science and Ecological Engineering, Korea University) ;
  • Lee, Woo-Kyun (Division of Environmental Science and Ecological Engineering, Korea University)
  • 박수경 (고려대학교 기후환경학과) ;
  • 박순철 (한국생산기술연구원) ;
  • 송철호 (고려대학교 환경생태공학과) ;
  • 임철희 (고려대학교 생명자원연구소) ;
  • 이수정 (고려대학교 환경생태공학과) ;
  • 이우균 (고려대학교 환경생태공학부)
  • Received : 2018.11.30
  • Accepted : 2018.12.24
  • Published : 2018.12.31
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Abstract

The Republic of Korea (ROK) has made many efforts to reduce greenhouse gases through a legal framework, making obligations to reach domestic and overseas targets via the Paris Convention in 2015. China recently launched a nation-wide emission trading system (ETS) and has considered extending this ETS to include the ROK. This study examines the possibility of linking the ETS between ROK and China by considering the institutional design elements of the ETS. Additionally, this study provides policy implications to reach Korea's overseas reduction target. For the research methodology, the design elements of both the ROK and China policies were analyzed by categorizing their standard design elements based on the International Carbon Action Partnership. This paper focuses on four main barriers (cap type, borrowing, offset and price ceiling) based on their environmental benefits and analyzes the challenges to combining the design elements between the ROK and China systems. The two ETS commonly share the same cap types, and there is similar institutional progress regarding the offset and price ceiling. In addition to this, note that China has a borrowing system that is opposite to the borrowing system in ROK. According to these findings, there are major challenges to linking the ROK and China systems due to differences in the major design elements. Thus, it is necessary to modify the Korean domestic borrowing system and understand the Chinese institutional processes related to environmental negotiation to achieve further cooperation.

Keywords

Acknowledgement

Supported by : 환경부