The Introduction of a CO2 Emissions Trading System for Realizing an East Asian Low-Carbon Community

Based on a scenario study of the introduction of CO 2 emissions trading system using Glocal Century Energy Environment Planning (G-CEEP) model, this study proposes a policy framework of East Asian Low-Carbon Community among Japan, Korea and China, which is similar to EU Emissions Trading System (EU ETS).Achieving the CO 2 emission reduction targets in 2020, Japan, Korea and China would reduce 40.9%, 41.1% and 11.5% of their total abatement costs, if an East Asian Low-Carbon Community could be built by introducing carbon trading.For carbon credit selling countries such as China, they also gain extra carbon reductions and "cleaner" environments.The carbon leakage in this carbon trading scenario shows a nega-tive result of -1.79%, indicating that there is no carbon leakage and even more carbon emissions are reduced than no trading scenario.In this sense, an East Asian Low-Carbon Community is worth considering to deal with the problem of global warming.