| Summary: | 碩士 === 國立清華大學 === 經濟學系所 === 106 === As an environmental pollution control measure, tradable permit has gradually gained attention in recent years. In December 2017, China's Environmental Protection Agency issued "The National Emission Trading Market Construction Plan (Power Generation Industry)", aiming to promote the construction of the national emission trading market. Using data on emissions and reduction costs of {NO}_x in Shanghai, this study analyzed the behavior and the reduction costs of the regulated firms in a permit trading market with different initial permit allocation rules. Finally, the equity index is used to measure which rule is the fairest and with less resistance during the regulation implementation process.
This study found that when the reduction target is set to reduce NOx emissions to 75% of the discharge level in 2014, the emission trading system can save 32.74% of the reduction cost compared with the command and control regulation. The results also showed that when the "Grandfathering Rule" was adopted, the reduction costs of most firms were lower than those under the command and control regulation. Among the six distribution rules for initial permit allocation, the principle of the “Equalized Emissions” can achieve the highest equity index value. However, if the purpose is to let most firms’ reduction costs lower than the costs under the command and control regulation, the "Grandfathering Rule" should be used. The simulation results also suggest that only incorporating firms with high pollution levels at the beginning of implementing the permit system would increase the value of the equity index and make the system run more smoothly.
|
|---|
