Guidebook to Carbon Neutrality in China : : Macro and Industry Trends under New Constraints.

• Place / Publishing House: Singapore : : Springer Singapore Pte. Limited,, 2022.; ©2022.
• Year of Publication: 2022
• Edition: 1st ed.
• Language: English
• Physical Description: 1 online resource (373 pages)

Table of Contents

Intro -- Foreword -- Peak Volume of Carbon Emissions: Careful Estimation is Essential -- Forming a Carbon Market and Determining Carbon Price -- Priority and Structural Optimization -- The Use of the CGE Model -- Emphasis on Green Governance -- Preface: Economics of Carbon Neutrality: Some Thoughts on the Coming Transformations -- Cost-Effectiveness Analysis with a Clear Objective -- Correcting Externality: What Carbon Prices Can and Cannot Do? -- Green Premium: A More Practical Tool for Analysis -- Technological Advances and Social Governance -- Green Finance: Correct Versus Incorrect Perceptions -- New Landscape in International Cooperation and Competition -- Stagflation or New Opportunity: Thoughts About Market Economy in Reality -- Acknowledgments -- Contents -- 1 Exploring the Road to Carbon Neutrality -- 1.1 Seeking a Peak: 9.9-10.8bn Tonnes of Net Carbon Emissions -- 1.2 Structural Path: Analysis Based on Green Premium -- 1.3 Four Scenarios: General Equilibrium Analysis Under CGE Model -- 1.3.1 Model Data -- 1.3.2 Scenario Assumptions -- 1.3.3 BAU Scenario -- 1.3.4 Carbon Tax Scenario (M1) -- 1.3.5 Carbon Trading Scenario (M2) -- 1.3.6 Carbon Tax + Carbon Trading + Technological Progress Scenario (M3) -- 1.3.7 Sensitivity Analysis of Technology Curve -- 1.3.8 Sensitivity Analysis of Carbon Tax -- 1.4 Road to Carbon Neutrality = Technology + Carbon Pricing + Social Governance -- 2 Balancing Efficiency and Fairness: Kaldor-Hicks Improvement? -- 2.1 Three Approaches to Achieving Carbon Neutrality: Innovation is the Key -- 2.1.1 Carbon Neutrality Cannot Be Achieved Through "zero-sum game" -- 2.1.2 Approach 1: Raising Carbon Price to Internalize External Costs -- 2.1.3 Approach 2: Accelerating Innovation to Fundamentally Alter Mode of Production -- 2.1.4 Multiple Barriers to Eco-Innovation -- 2.1.5 Innovation-Related Policy Suggestions.

2.1.6 Approach 3: Improving the Social Governance System and Encouraging Emission Reduction Among the General Public -- 2.2 Issues Related to Fairness -- 2.2.1 Distribution of Income -- 2.2.2 How to Share the Cost of Emission Reduction Among Industries and Regions? -- 3 The Capacity of Carbon Pricing Mechanism -- 3.1 Unified Carbon Price: Social Cost or Net Social Cost? -- 3.2 Green Premium and the Choice of Carbon Pricing Mechanisms -- 3.2.1 Pigou Versus Coase: Similarities and Differences Between Carbon Tax and Carbon Market -- 3.2.2 Carbon Pricing from the Perspective of Green Premium: Carbon Market to Be the Mainstay, with Carbon Tax as a Complement -- 3.2.3 Establishing a Carbon Market Trading Mechanism with Auctions and Futures at the Core -- 3.3 What Carbon Market Can and Cannot Do: Regional Transfer of Pollutants Under Carbon Trading -- 3.3.1 Social Governance: A Policy Instrument to Lower Green Premium in Addition to Carbon Pricing -- 3.3.2 Mandatory Policies Can Be Used to Regulate Waste of Financial Resources as Seen in Bitcoin Mining -- 3.3.3 Advocacy Policies as Necessary Move to Control Waste of Resources in the Real Economy -- 4 Green Finance: Clarifying Functions and Capacity -- 4.1 Green Finance: Serving or Guiding the Real Economy? -- 4.2 Green Finance in China -- 4.3 How Much Investment is Needed to Achieve Carbon Neutrality? -- 4.3.1 Bottom-up Analysis of China's Demand for Green Investment -- 4.3.2 Aggregate Investment Demand and Structural Features -- 4.4 New Targets Bring in New Challenges. What Are the Weaknesses in China's Green Finance? -- 4.4.1 Mismatch Between Supply and Demand in Green Investment -- 4.4.2 Lack of Widely Accepted Green Standards -- 4.4.3 Defects in Green-Information Disclosure System -- 4.4.4 Weak Guidance from Financial Institutions.

4.5 Turning Challenges into Opportunities: How to Address the Weaknesses in China's Green Finance? -- 4.5.1 Setting a Unified Green Standard in China -- 4.5.2 Establishing a Binding Green-Information Disclosure Mechanism -- 4.5.3 Improving Incentive Policy to Boost the Overall Development of Green Financial Market -- 4.5.4 Strengthening Education of Green Concept -- Financial Institutions Offering Both Services and Guidance -- 4.5.5 Incorporating Environmental Risks into Prudential Regulations -- 5 Green Technology: From Quantity to Quality -- 5.1 Technological Breakthrough and Carbon Neutrality -- 5.1.1 Why Do We Need a Technological Breakthrough? -- 5.1.2 What Can Become Carbon Neutral by Technological Advances and What Cannot? -- 5.1.3 What Are the Technological Routes for the Carbon Neutrality Initiative? What Are the Constraints? -- 5.2 Cost is a Touchstone for the Development of Technology -- 5.2.1 What Kind of Technologies Are Capable of Reaching Emission Peak and Carbon-Neutral as Planned? What Are the Differences in the Choices of Various Technological Routes? -- 5.2.2 Three Measures to Reduce the Cost of Developing Energy Technologies -- 5.3 Existing and Potential Technologies for Net Zero Carbon Emissions and Carbon Neutrality Initiatives -- 5.3.1 Technologies to Help Cut CO2 Emissions Focus on Reducing Energy Consumption and Shifting to Energy Technologies that Produce Lower CO2 Emissions -- 5.3.2 Carbon-Neutral Technologies: Technologies that Help Achieve Zero-Carbon and Negative-Carbon Emissions -- 5.4 "Photovoltaic + Energy Storage", Hydrogen Energy, and Carbon Capture Becoming the Main Technological Routes -- 5.4.1 The Main and Auxiliary Technological Routes for the Carbon Neutrality Initiative -- 5.4.2 The Main Technological Route for the Carbon Neutrality Initiative in the Power Industry.

5.5 Policy Suggestions: Enhancing Technology R&amp -- D Protection -- Supporting the Industrialization of New Technologies -- 5.5.1 Technologies that May Develop More Rapidly Than Expected -- 5.5.2 Technologies that May Develop More Slowly Than Expected -- 6 Green Energy: A New Chapter in China -- 6.1 Overview of China's Current Energy Structure -- 6.1.1 Energy Sector Produces Nearly 90% of Carbon Emissions in China -- Building Green Energy Supply System is Top Priority -- 6.1.2 Total Energy Demand May Increase Under Steady Economic Growth Despite Decline in Energy Consumption Per Unit of GDP -- 6.1.3 Carbon Emissions Reduction is Difficult to Achieve Under Current Energy Structure -- The Country Needs Stronger Top-Down Planning and Policy Support -- 6.2 Start from More Feasible Methods to Achieve Energy Transition Through More Economical Ways -- 6.3 Lowering Costs to Raise Non-fossil Fuels' Proportion in Power Generation -- 6.3.1 Calculation of Green Premiums in Power Sector -- 6.3.2 Power Generation: Non-fossil Energy's Lower Costs Per kWh Fuels Transition to Cleaner Energy Mix -- 6.3.3 Absorption: Complementary Multi-energy System Minimizes Absorption Costs -- 6.4 Non-power Sector: Electrification, Hydrogen Power and Carbon Capture Fuel Energy Transition -- 6.4.1 China's Electrification Rate Will Likely Reach 70% -- The Remaining 30% Demand Requires Non-electric Power and Other Energy Resources Supported by New Technologies to Achieve Carbon Neutrality -- 6.4.2 Non-power Sector: Hydrogen Power and Carbon Capture is Feasible Technology Solution to Carbon Neutrality -- 6.4.3 Other Energy Resources Adopted Carbon Capture and Hydrogen Power to Meet 22% and 8% Energy Demand in 2060 -- 6.4.4 Costs and Green Premiums of Non-power Carbon Neutrality Solutions.

6.5 Policy Recommendation: Power System Reform Accelerates Non-fossil Energy Absorption and Helps the Development of Hydrogen Power -- 6.5.1 Policy Recommendation for the Power Sector: Stabilize New Energy Absorption -- 6.5.2 Policy Recommendation for Non-power Sector: Building Supporting System for Carbon Reduction -- Establishing Reward and Penalty System to Fuel Clean Energy Development -- 7 Green Manufacturing: Carbon Emissions Reduction Roadmap of Carbon Intensive Sectors -- 7.1 Cost of Zero Emissions: Analyzing the Carbon Neutrality Roadmaps of Manufacturing Industries from Perspective of Green Premiums -- 7.2 Steel Industry: Mature Emission Reduction Path with Electric Arc Furnace Gradually Demonstrating Advantages -- 7.2.1 Industry Green Premium: Cost for the Steel Industry to Achieve Carbon Neutrality at the Current Stage -- 7.2.2 Technology Roadmaps for Carbon Emissions Reduction in the Steel Industry -- 7.2.3 Lowering the Green Premium: Will the Steel Industry Achieve Carbon Peak and Carbon Neutrality as Planned? -- 7.3 Cement Industry: Achieving Carbon Neutrality is Difficult. Demand and Cost of Carbon Capture are the Key -- 7.3.1 Industry Green Premium: Cost of Achieving Carbon Neutrality at Current Stage for Cement Industry -- 7.3.2 Technology Roadmaps for Carbon Emissions Reduction in the Cement Industry -- 7.3.3 Lowering the Green Premium: Feasible Paths to Carbon Peak and Carbon Neutrality in the Cement Industry -- 7.4 Aluminum Industry: The Decarbonization of Electricity is the Key to Carbon Neutrality -- 7.4.1 Industry Green Premium: Cost for the Aluminum Industry to Achieve Carbon Neutrality at the Current Stage -- 7.4.2 Technology Roadmap for Carbon Emissions Reduction in the Aluminum Industry -- 7.4.3 Lowering the Green Premium: A Feasible Path for Carbon Peak and Carbon Neutrality in the Aluminum Industry.

7.5 Chemical Industry: When Carbon Negative Becomes Possible.