The aim of the thesis was to figure out an appropriate way to solve the Chinese heavysulphur dioxide pollution problem, to design an emissions trading system for China andto try to demonstrate that the designed emissions trading system is feasible for China.The aim of the thesis was approached by using the means of case study based research,and focused on the environment policy — emissions trading. Emissions trading is aneconomic instrument to reduce environmental pollution, and it is used all over the world.And it is generally acknowledged to have been successful in the US Acid Rain Program.The design of emissions trading for China is based on the theory of emissions trading andexperiences from the Acid Rain Program and Chinese emissions trading pilot project inTaiyuan.The study concluded that China's current command and control method should bechanged into a market-based instrument. And this change should be started in the Chinesepower industry because it is the biggest contributor of Chinese SO2 pollution and becausethe control of it with the current environmental policy in China has up till nowunsuccessful.There are many conditions that can influence the implementation of Chinese emissionstrading program, such as: Can emissions trading appropriately address the Chinese SO2pollution problem? The situation of partner and different abatement costs; The problemof accurate measurements; The question whether the ETS is compatible with the existingenvironmental policy; Especially whether the market is free enough to implementemissions trading in China and the problem of adequate legal authority. According to myanalysis, the emissions trading system is considered to be feasible, in spite of the fact thatthe market is not totally free and in spite of the fact that the Chinese society still lacks inlegal regulation.
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