Target-Setting Emissions Trading Program in Saitama Prefecture: Impact on CO2 Emissions in the First Compliance Period

Hamamoto, Mitsutsugu

doi:10.1007/978-981-15-6964-7_7

Cited by 5 publications

(5 citation statements)

References 4 publications

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“…The emissions trading scheme at the Japanese national level has not yet been introduced (for more details, see Abe & Arimura, 2021Arimura & Matsumoto, 2021;Hamamoto, 2021;Kurachi, Morishima, Kawata, Shibata, Bunya, & Moteki, 2022;Sadayuki & Arimura, 2021;International Carbon Action Partnership, 2022a;Asian development Bank, 2016;Poupard, Fetet, & Postic, 2022, etc.). The Tokyo-ETS is also the first emissions scheme worldwide to cover the commercial sector.…”

Section: Some Aspects Of the Tokyo-etsmentioning

confidence: 99%

Climate Change Policy, Emissions Trading Schemes and Carbon Pricing: California and Tokyo

Fung¹

2022

JEPF

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In this paper, we provide explicit critical comparisons of two very important and successful regional emissions trading schemes: California and Tokyo. We focus on the contrasts of the different rules and functioning of the carbon credit trading markets. We also compare the carbon leakages and the compliance of the two schemes. We highlight the “negative” carbon leakage and the voluntary compliance associated with the Tokyo- Saitama Prefecture schemes. Finally, we provide a formal model linking some “unique” Japanese labour market practices to the incentives facing the Japanese facilities.

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Section: Some Aspects Of the Tokyo-etsmentioning

confidence: 99%

Climate Change Policy, Emissions Trading Schemes and Carbon Pricing: California and Tokyo

Fung¹

2022

JEPF

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“…Regarding the Saitama ETS, Hamamoto (2020b) finds that the Saitama ETS reduced GHG emissions. Moreover, Hamamoto (2020a) finds that the Saitama ETS stimulated the adoption of high‐efficiency machines and devices for the first 3 years of the second compliance period. Despite the success of the two regional ETSs in Japan, there is no national‐level ETS in Japan.…”

Section: Market Policy Instrumentmentioning

confidence: 99%

“…Saitama, a neighboring prefecture of Tokyo, also introduced an ETS in 2011 (Hamamoto, 2020a). Saitama borrowed the design of the Tokyo ETS.…”

Section: Ets and Related Measuresmentioning

confidence: 99%

Energy‐Related Environmental Policy and Its Impacts on Energy Use in Asia

Arimura

Sugino

2020

Asian Economic Policy Review

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Economic growth in Asia has increased in the past three decades and has heightened energy demand, resulting in rising greenhouse gas emissions and severe air pollution. To tackle these issues, fuel switching and the deployment of renewables are essential. In the present paper, we discuss the environmental regulations, mainly carbon pricing, implemented in Asia and discuss their achievements. Empirical studies using microdata have shown that carbon pricing in Asia can reduce carbon emissions by promoting energy efficiency. At the macro level, we observe some evidence of fuel switching from coal to natural gas among major emitters. However, more carbon pricing is necessary in Asia if we aim for the decarbonization of the economy.

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“…ETS in collaboration with the Tokyo Metropolitan Government (Hamamoto 2021b). China has implemented seven pilot schemes since 2013 and launched a national capand-trade scheme in the power sector in 2021.…”

mentioning

confidence: 99%

“…Moreover, it is unique in that it restricts the role of the financial sector (Roppongi et al 2017). The Saitama ETS is characterized by its voluntary nature: there is no financial penalty for noncompliance (Hamamoto 2021b). The Korean ETS is the first nationwide cap-and-trade scheme in Asia.…”

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confidence: 99%

EEPS special issue on “Carbon Pricing in East Asia”

Arimura

Duan

2021

Environ Econ Policy Stud

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Announcements of carbon neutrality, i.e. net zero emissions, have become the norm in the international community. Given the unprecedented severe weather in many parts of the world, nations have started to declare carbon neutrality goals. In 2019, the European Union (EU) announced the goal of carbon neutrality by 2050. In September 2020, the Chinese government also announced a carbon neutrality goal by 2060. In October 2020, both the Japanese and Korean governments declared a goal of carbon neutrality by 2050. After winning the presidential election, the new US president Biden also announced a goal of carbon neutrality by 2050.Obviously, there is no free lunch in achieving carbon neutrality. Carbon neutrality comes with nonnegligible costs. According to the estimate of the Committee on Climate Change, reaching net zero emissions by 2050 could cost up to 1-2% of GDP per year by 2050 in the UK Ekins (2019). Therefore, we must find a way to reduce the costs of carbon mitigation. Economic theory suggests that the use of market mechanisms, i.e., carbon pricing, is one answer. In fact, many developed countries have adopted carbon pricing systems such as emissions trading schemes (ETS) or carbon taxes.The EU introduced its carbon market, known as the European Union Emissions Trading Scheme (EU ETS), in 2005. In the United States, 10 states in the northeast implemented the Regional Greenhouse Gas Initiative (RGGI) in 2009. New Zealand has also adopted an ETS. This trend has reached other parts of the world. In 2010, the Tokyo Metropolitan Government introduced the first ETS in Asia (Abe and Arimura 2021). In Japan, Saitama Prefecture, which is next to Tokyo, introduced an This special issue is based on the thematic session of "Carbon Pricing in East Asia" at the 9th annual congress of Asian Association of Environmental and Resource Economics in Beijing, 2019. We are grateful for the comments from the participants. Toshi Arimura is grateful to the Environment Research and Technology Development Fund (2-1707 and 2-2008) of the Environmental Restoration and Conservation Agency.

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Target-Setting Emissions Trading Program in Saitama Prefecture: Impact on CO2 Emissions in the First Compliance Period

Cited by 5 publications

References 4 publications

Climate Change Policy, Emissions Trading Schemes and Carbon Pricing: California and Tokyo

Climate Change Policy, Emissions Trading Schemes and Carbon Pricing: California and Tokyo

Energy‐Related Environmental Policy and Its Impacts on Energy Use in Asia

EEPS special issue on “Carbon Pricing in East Asia”

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