The efforts of Taiwan to achieve NDC target: an integrated assessment on the carbon emission trading system
In this paper, we adopt a computable general equilibrium model to investigate the impacts of achieving Taiwan’s target of nationally determined contributions (NDC). We consider two types of scenarios: one implemented with the emission trading system (ETS) and the other designed under cap without tra...
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| Veröffentlicht in: | Natural hazards (Dordrecht) 2019-12, Vol.99 (3), p.1295-1310 |
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| creator | Wu, Yi-Hua Dai, Hancheng Xie, Yang Masui, Toshihiko |
| description | In this paper, we adopt a computable general equilibrium model to investigate the impacts of achieving Taiwan’s target of nationally determined contributions (NDC). We consider two types of scenarios: one implemented with the emission trading system (ETS) and the other designed under cap without trade. Our findings suggest that Taiwan’s NDC target is achievable in two policies but with different economic costs. On the one hand, ETS reconciles the demand and supply for emission allowances. More participants in the ETS increase the chance that a buyer can match the seller; moreover, the carbon price is lower. On the other hand, in the cap-without-trade scenario, industrial sectors have to pay higher prices for emission allowances if there is no market for emission–allowance exchanges. Furthermore, we find that the initial distribution of free emission allowances affects not only sectoral emissions but also GDP loss. In 2030, the GDP loss ranges from 1.8 to 2.2% in the cap-without-trade scenario and around 1.8% in the ETS. Therefore, the ETS helps achieve Taiwan’s NDC target with a lower economic loss. Taiwan, an independent energy system isolated from other countries or regions, can achieve its NDC target with the launch of ETS. |
| doi_str_mv | 10.1007/s11069-019-03660-x |
| format | Article |
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We consider two types of scenarios: one implemented with the emission trading system (ETS) and the other designed under cap without trade. Our findings suggest that Taiwan’s NDC target is achievable in two policies but with different economic costs. On the one hand, ETS reconciles the demand and supply for emission allowances. More participants in the ETS increase the chance that a buyer can match the seller; moreover, the carbon price is lower. On the other hand, in the cap-without-trade scenario, industrial sectors have to pay higher prices for emission allowances if there is no market for emission–allowance exchanges. Furthermore, we find that the initial distribution of free emission allowances affects not only sectoral emissions but also GDP loss. In 2030, the GDP loss ranges from 1.8 to 2.2% in the cap-without-trade scenario and around 1.8% in the ETS. Therefore, the ETS helps achieve Taiwan’s NDC target with a lower economic loss. Taiwan, an independent energy system isolated from other countries or regions, can achieve its NDC target with the launch of ETS.</description><identifier>ISSN: 0921-030X</identifier><identifier>EISSN: 1573-0840</identifier><identifier>DOI: 10.1007/s11069-019-03660-x</identifier><language>eng</language><publisher>Dordrecht: Springer Netherlands</publisher><subject>Allowances ; Carbon ; Civil Engineering ; Earth and Environmental Science ; Earth Sciences ; Economic impact ; Economics ; Emission analysis ; Emissions ; Emissions trading ; Environmental Management ; GDP ; Geophysics/Geodesy ; Geotechnical Engineering & Applied Earth Sciences ; Gross Domestic Product ; Hydrogeology ; Natural Hazards ; Original Paper ; Pricing ; Supply & demand ; Trade</subject><ispartof>Natural hazards (Dordrecht), 2019-12, Vol.99 (3), p.1295-1310</ispartof><rights>Springer Nature B.V. 2019</rights><rights>Natural Hazards is a copyright of Springer, (2019). All Rights Reserved.</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c319t-c34315343c51459a2912983345ec9fe2884854cc7e75333ea9ca8b42ecaaacee3</citedby><cites>FETCH-LOGICAL-c319t-c34315343c51459a2912983345ec9fe2884854cc7e75333ea9ca8b42ecaaacee3</cites><orcidid>0000-0003-4251-4707</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://link.springer.com/content/pdf/10.1007/s11069-019-03660-x$$EPDF$$P50$$Gspringer$$H</linktopdf><linktohtml>$$Uhttps://link.springer.com/10.1007/s11069-019-03660-x$$EHTML$$P50$$Gspringer$$H</linktohtml><link.rule.ids>314,780,784,27923,27924,41487,42556,51318</link.rule.ids></links><search><creatorcontrib>Wu, Yi-Hua</creatorcontrib><creatorcontrib>Dai, Hancheng</creatorcontrib><creatorcontrib>Xie, Yang</creatorcontrib><creatorcontrib>Masui, Toshihiko</creatorcontrib><title>The efforts of Taiwan to achieve NDC target: an integrated assessment on the carbon emission trading system</title><title>Natural hazards (Dordrecht)</title><addtitle>Nat Hazards</addtitle><description>In this paper, we adopt a computable general equilibrium model to investigate the impacts of achieving Taiwan’s target of nationally determined contributions (NDC). We consider two types of scenarios: one implemented with the emission trading system (ETS) and the other designed under cap without trade. Our findings suggest that Taiwan’s NDC target is achievable in two policies but with different economic costs. On the one hand, ETS reconciles the demand and supply for emission allowances. More participants in the ETS increase the chance that a buyer can match the seller; moreover, the carbon price is lower. On the other hand, in the cap-without-trade scenario, industrial sectors have to pay higher prices for emission allowances if there is no market for emission–allowance exchanges. Furthermore, we find that the initial distribution of free emission allowances affects not only sectoral emissions but also GDP loss. In 2030, the GDP loss ranges from 1.8 to 2.2% in the cap-without-trade scenario and around 1.8% in the ETS. Therefore, the ETS helps achieve Taiwan’s NDC target with a lower economic loss. Taiwan, an independent energy system isolated from other countries or regions, can achieve its NDC target with the launch of ETS.</description><subject>Allowances</subject><subject>Carbon</subject><subject>Civil Engineering</subject><subject>Earth and Environmental Science</subject><subject>Earth Sciences</subject><subject>Economic impact</subject><subject>Economics</subject><subject>Emission analysis</subject><subject>Emissions</subject><subject>Emissions trading</subject><subject>Environmental Management</subject><subject>GDP</subject><subject>Geophysics/Geodesy</subject><subject>Geotechnical Engineering & Applied Earth Sciences</subject><subject>Gross Domestic Product</subject><subject>Hydrogeology</subject><subject>Natural Hazards</subject><subject>Original Paper</subject><subject>Pricing</subject><subject>Supply & demand</subject><subject>Trade</subject><issn>0921-030X</issn><issn>1573-0840</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2019</creationdate><recordtype>article</recordtype><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><recordid>eNp9UMtOwzAQtBBIlMIPcLLEOeBHXuaGylOq4FIkbtbW3aQpJCleF9q_xxAkbhx2drU7MysNY6dSnEshiguSUuQmETKWznORbPfYSGaFTkSZin02EkbJeBIvh-yIaCWElLkyI_Y6WyLHqup9IN5XfAbNJ3Q89BzcssEP5I_XEx7A1xguebw0XcDaQ8AFByIkarELvI-SaOTAz-OIbUPUfO88LJqu5rSjgO0xO6jgjfDkt4_Z8-3NbHKfTJ_uHiZX08RpaULEVMssgstkmhlQRipTap1m6EyFqizTMkudK7DItNYIxkE5TxU6AHCIeszOBt-17983SMGu-o3v4kurVG6KUplCR5YaWM73RB4ru_ZNC35npbDfodohVBtDtT-h2m0U6UFEkdzV6P-s_1F9AVrOezY</recordid><startdate>20191201</startdate><enddate>20191201</enddate><creator>Wu, Yi-Hua</creator><creator>Dai, Hancheng</creator><creator>Xie, Yang</creator><creator>Masui, Toshihiko</creator><general>Springer Netherlands</general><general>Springer Nature B.V</general><scope>AAYXX</scope><scope>CITATION</scope><scope>3V.</scope><scope>7ST</scope><scope>7TG</scope><scope>7UA</scope><scope>7XB</scope><scope>88I</scope><scope>8FD</scope><scope>8FE</scope><scope>8FG</scope><scope>8FK</scope><scope>ABJCF</scope><scope>ABUWG</scope><scope>AEUYN</scope><scope>AFKRA</scope><scope>ATCPS</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BGLVJ</scope><scope>BHPHI</scope><scope>BKSAR</scope><scope>C1K</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>F1W</scope><scope>FR3</scope><scope>GNUQQ</scope><scope>H96</scope><scope>HCIFZ</scope><scope>KL.</scope><scope>KR7</scope><scope>L.G</scope><scope>L6V</scope><scope>M2P</scope><scope>M7S</scope><scope>PATMY</scope><scope>PCBAR</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PTHSS</scope><scope>PYCSY</scope><scope>Q9U</scope><scope>SOI</scope><orcidid>https://orcid.org/0000-0003-4251-4707</orcidid></search><sort><creationdate>20191201</creationdate><title>The efforts of Taiwan to achieve NDC target: an integrated assessment on the carbon emission trading system</title><author>Wu, Yi-Hua ; 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We consider two types of scenarios: one implemented with the emission trading system (ETS) and the other designed under cap without trade. Our findings suggest that Taiwan’s NDC target is achievable in two policies but with different economic costs. On the one hand, ETS reconciles the demand and supply for emission allowances. More participants in the ETS increase the chance that a buyer can match the seller; moreover, the carbon price is lower. On the other hand, in the cap-without-trade scenario, industrial sectors have to pay higher prices for emission allowances if there is no market for emission–allowance exchanges. Furthermore, we find that the initial distribution of free emission allowances affects not only sectoral emissions but also GDP loss. In 2030, the GDP loss ranges from 1.8 to 2.2% in the cap-without-trade scenario and around 1.8% in the ETS. Therefore, the ETS helps achieve Taiwan’s NDC target with a lower economic loss. Taiwan, an independent energy system isolated from other countries or regions, can achieve its NDC target with the launch of ETS.</abstract><cop>Dordrecht</cop><pub>Springer Netherlands</pub><doi>10.1007/s11069-019-03660-x</doi><tpages>16</tpages><orcidid>https://orcid.org/0000-0003-4251-4707</orcidid></addata></record> |
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| subjects | Allowances Carbon Civil Engineering Earth and Environmental Science Earth Sciences Economic impact Economics Emission analysis Emissions Emissions trading Environmental Management GDP Geophysics/Geodesy Geotechnical Engineering & Applied Earth Sciences Gross Domestic Product Hydrogeology Natural Hazards Original Paper Pricing Supply & demand Trade |
| title | The efforts of Taiwan to achieve NDC target: an integrated assessment on the carbon emission trading system |
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