@article{58295,
  keywords = {China, China Energy Group, Energy Analysis and Environmental Impacts Division, International Energy Department, Climate change, Policies for Low-Carbon Markets, Cap-and-trade, Greenhouse gas emissions trading},
  author = {Bo Shen and Fan Dai and Lynn K Price and Hongyou Lu},
  title = {California{\textquoteright}s Cap-and-Trade Programme and Insights for China{\textquoteright}s Pilot Schemes},
  abstract = {<p>California{\textquoteright}s cap-and-trade programme under the Assembly Bill 32 is a key element in California{\textquoteright}s comprehensive plan for reducing its greenhouse gas (GHG) emissions to 1990 levels by 2020. In China, separate local cap-and-trade pilot schemes are being developed to explore a market-based solution for addressing the country{\textquoteright}s increasing GHG emissions. The Californian cap-and-trade scheme and China{\textquoteright}s local pilots are similar in that both have been developed in the absence of a national emissions trading scheme. This paper reviews the Californian scheme and draws insights for China{\textquoteright}s pilots from various perspectives including the legal basis, institutional arrangement, programme structure, market design, the implementation process, and mechanisms for ensuring compliance.</p>},
  year = {2014},
  booktitle = {Energy \& Environment},
  journal = {Energy \& Environment},
  series = {Energy \& Environment},
  volume = {25},
  pages = {551-575},
  month = {05/2014},
  institution = {Multi Science Publishing},
  publisher = {Multi Science Publishing},
  url = {http://multi-science.metapress.com/content/h3t857475k75t360/},
}