A market without trading: China’s ambition to create a nationwide Emission Trading Scheme (ETS) and its challenges

It is 10 years since the European Emissions Trading Scheme (EU-ETS) launched. Now China is working on its own equivalent scheme, with a huge potential impact. But China’s businesses – key to its success or failure – haven’t fully embraced the scheme. In a new paper in Climate Policy, incoming STEPS member Wei Shen examines…