Emissions trading worldwide: International Carbon Action Partnership (ICAP) status report 2014
Emissions trading continues to spread around the world, and 2013 was a record year: in total, nine new emissions trading schemes (ETS) started operation worldwide. Five of these new systems are in China, the world’s largest emitter of greenhouse gases. These Chinese pilot schemes on the metropolitan and provincial levels are planned as a prelude to a transition to emissions trading on the national level; a policy innovation for a country that has traditionally relied on more command and control measures such as bans and standards. By 2015, several other ETS will start; the share of global emissions covered by emissions trading is expected to rise by 70 percent from a 2005 basis, according to the new ‘Emissions Trading Worldwide: ICAP Status Report 2014’.