Carbon emissions trading systems management

This chapter discusses various carbon emission trading systems (CETS). Carbon emissions trading is a form of emissions trading that specifically targets carbon dioxide (CO₂) management and trading across nations. The global CETS market took off when the European Union (EU) instituted a CO₂ cap and trade program in 2005. They set a cap on the total amount of CO₂ that heavy industries and utilities in EU could emit. The world’s largest carbon market is currently the European Emissions Trading Scheme (EU-ETS). The EU ETS covers CO₂ emissions from emitters in the power sector, combustion plants, oil refineries plus iron and steel works, as well as installations producing cement, glass, lime, bricks, ceramics, pulp and paper. In 2011, the China National Development and Reform Commission announced seven official Emission Trading Scheme ETS pilot programs in five cities which included Beijing, Shanghai, Tianjin, Chongqing and Shenzhen plus two provinces which included Guangdong and Hubei.