Factorial equilibrium analyses for socio-economic implications of emission trading

As the largest emitter of CO2 emissions in the world, China has pledged to reach its CO2 emission peak before 2030 and achieve carbon neutrality before 2060. In 2021, it implemented the policy of emission trading scheme to manage emissions from electricity sector. However, such a policy is unable to achieve its emission-mitigation target. This study aims to analyze the socio-economic effects of early carbon peak (i.e., before 2030) and sectoral …