Tokyo's Emissions Trading System : A Case Study

Tokyo's Emissions Trading System : A Case Study

The Tokyo Metropolitan Government (TMG) has developed the world's first cap and trade program at the city level targeting energy-related CO2. Called the Emissions Trading System (ETS), the program took effect in April 2010 and covers 1,340 lar...

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Bibliographic Details
Main Authors:	Lee, Marcus, Colopinto, Kimberly
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	AIR AIR POLLUTION AIR POLLUTION PROBLEMS AIR QUALITY AIR QUALITY MANAGEMENT ALLOWANCE ALLOWANCES ANNUAL EMISSIONS APPROACH AUDITS AVERAGE EMISSIONS BALANCE BASE YEAR EMISSIONS CALCULATION CARBON CARBON CREDITS CARBON MARKETS CH4 CLEAN AIR CLIMATE CLIMATE CHANGE CLIMATE CHANGE MITIGATION CLIMATE CHANGE STRATEGY CO CO2 COMBUSTION CRUDE OIL CUMULATIVE EMISSIONS ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY PRODUCTION EMISSION EMISSION TRADING EMISSIONS EMISSIONS CAPS EMISSIONS INVENTORIES EMISSIONS PROFILES EMISSIONS REDUCTION EMISSIONS REDUCTION STRATEGY EMISSIONS REDUCTIONS ENERGY CONSERVATION ENERGY CONSUMPTION ENERGY EFFICIENCY ENERGY PRODUCERS ENVIRONMENTAL ENVIRONMENTAL ISSUES ENVIRONMENTAL PROTECTION ENVIRONMENTAL PROTECTION AGENCY EQUIVALENT CONSUMPTION FUEL FUEL BILLS FUELS GAS FLOW GASES GENERATION GHG GHGS GLOBAL WARMING GREENHOUSE GREENHOUSE GAS GREENHOUSE GAS REDUCTION HFCS HIGH ENERGY CONSUMPTION HISTORICAL EMISSIONS HYDROFLUOROCARBONS METHANE N2O NITROGEN NITROGEN OXIDES NOX NUCLEAR POWER OFFSET PROGRAM OIL EQUIVALENT ORGANIC MATERIALS PERFLUOROCARBONS PFCS POLLUTANTS POWER COMPANY POWER PLANTS PP PRODUCERS REDUCING EMISSIONS REGIONAL GREENHOUSE GAS INITIATIVE RENEWABLE ENERGY SF6 SOLAR ENERGY SOLAR POWER SOLAR WATER HEATING SOX STATIONARY SOURCES SULFUR SULFUR OXIDES SUSPENDED PARTICLES TOTAL EMISSIONS TROPOSPHERIC OZONE
Online Access:	http://documents.worldbank.org/curated/en/2010/06/13737872/tokyos-emissions-trading-system-case-study http://hdl.handle.net/10986/10184

Description
Summary:	The Tokyo Metropolitan Government (TMG) has developed the world's first cap and trade program at the city level targeting energy-related CO2. Called the Emissions Trading System (ETS), the program took effect in April 2010 and covers 1,340 large facilities including industrial factories, public buildings, educational institutions and commercial buildings. Targeting the city level for the reduction of Greenhouse Gas (GHG) emissions is of vital importance for climate change mitigation goals. Although there are several ETSs targeting GHGs around the world, none have operated at the city level until Tokyo's. City-based ETS systems have been largely aimed at enhancing local air quality by targeting local pollutants that may also happen to be GHGs. There are three particularly relevant cases of ETSs covering local pollutants at the city level. Tokyo's ETS is unique because it is the only one targeting GHGs, with the primary objective of mitigating climate change. Emissions trading are a market-based approach for addressing air pollution problems. If designed and implemented well, emissions trading systems can be economically efficient, providing incentives for participants to reduce their emissions of specified pollutants. An ETS, when functioning well, results in overall emissions remaining within the cap, while individual participants have the flexibility of a market-based mechanism within which to operate.

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