By Alex Lo
This e-book explores the political features of China's weather swap coverage, targeting the newly tested carbon markets and carbon buying and selling schemes. Lo makes a case for knowing the coverage switch when it comes to discourse and on the subject of narratives of nationwide strength and development.
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Additional resources for Carbon Trading in China: Environmental Discourse and Politics
Therefore, carbon trading and carbon markets are championed by what Boyd et al. (2011, p. 603) called the ‘confluence of potential beneficiaries from the carbon economy’. It is important to note that 24 Carbon Trading in China the rationale behind the adoption of the market mechanism cannot be reduced to one that emphasises the capacity for increasing economic efficiency in GHG mitigation. This is clearly articulated by Paterson (2010, p. 91): ‘[carbon markets] have been politically useful in the response to climate change not because they are an efficient response … but because they have enabled a particular cycle of investment and growth to take place, and thus the construction of a coalition of political forces, some of whom are direct beneficiaries from that cycle of growth’.
It encompasses a set of ideas that privilege trade liberalisation, market competition, privatisation of nationally owned establishments, and deregulation of the public domains. According to Harvey (2005, 2014), a standard neoliberal state is one that combines institutions that embrace these ideas with liberal democracy. Although perspectives on the importance of state intervention in materialising these imperatives remain contested and have changed over time, neoliberal policies seek to strengthen the role of the private sector in the economy relative to the state, under the assumption that a ‘big market’ will produce more efficient outcomes and improve the economic well-being of the country.
Carbon trading necessarily cuts across jurisdictional boundaries, rescaling the governance of what would have been managed within a sovereign space to external parties. For example, the EU ETS has shifted governance scales from European nation-states to the EC. Emissions caps imposed by the EC on EU member states were seen as an external intervention into the domain of domestic energy use with significant economic implications and met with strong resistance from individual European countries (Bailey, 2007).
Carbon Trading in China: Environmental Discourse and Politics by Alex Lo