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Cited by 70Climate Change Policy and EconomicsEnergy, Environment, Economic GrowthEnergy, Environment, and Transportation Policies

The impact of the Tokyo emissions trading scheme on office buildings: what factor contributed to the emission reduction?

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Arimura, Toshi H., Abe, Tatsuya·2021·Environmental Economics and Policy Studies
DOI 10.1007/s10018-020-00271-w
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Abstract

Abstract Tokyo ETS is the first emissions trading scheme to control GHG emissions from office buildings. Although the Tokyo government claimed that Tokyo ETS had been successful, some argued that the emission reduction under Tokyo ETS was actually the result of electricity price increases triggered by the Great East Japan Earthquake in 2011. Using a facility-level data set for Japanese office buildings, we conducted an econometric analysis to examine the impact of Tokyo ETS. We found that half of the emission reduction is a result of the ETS, while the rest of the reduction is due to the electricity price increase. Another unique feature of Tokyo ETS is that an accurate permit price is not publicly available due to its design. Using our estimated model, we found that the price is approximately $50 per ton of CO2 in the early phase.

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  • The performance of China's regional pilot ETSs is far below that (19-24%) of the Regional Greenhouse Gas Initiative (RGGI), nearing that (7-12%) of the European Union Emissions Trading System (EU ETS), almost equals to that (5-7%) of the Tokyo ETS, and being superior to the California ETS.

    “This performance is far below that (19–24%) of the Regional Greenhouse Gas Initiative (RGGI),55,56 nearing that (7–12%) of the European Union Emissions Trading System (EU ETS),57,58 almost equals to that (5–7%) of the Tokyo ETS,59,60 and being superior to the California ETS.61,62”

    From Carbon Abatement and Leakage in China's Regional Carbon Emission Trading (2024) · cites this paper as [59]

  • The finding is consistent with two previous studies on China's regional ETSs, and the comparison of the industry-based RGGI and the EU ETS with the service-based Tokyo ETS shows similar result.

    “The finding is consistent with two previous studies on China’s regional ETSs,35,39 and the comparison of the industry-based RGGI and the EU ETS with the service-based Tokyo ETS shows similar result,55,57,59”

    From Carbon Abatement and Leakage in China's Regional Carbon Emission Trading (2024) · cites this paper as [59]

  • Results of studies on emissions trading markets outside Europe remain inconclusive, showing little impact or none.

    “However, the results remain inconclusive, showing little impact (Arimura and Abe  2021) or even none (Wakabayashi and Kimura 2018).”

    From The Impact of Carbon Pricing on Corporate Sustainability: Evidence From the European Union (2026) · cites this paper as Arimura and Abe 2021

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Authors
Arimura, T. H., & Abe, T.
Affiliations
Waseda University (JP)
Corresponding author
Arimura, Toshi H.
ORCID
Venue
Environmental Economics and Policy Studies
Publisher
Springer Science and Business Media LLC
Published
2020-03-18
Volume
23
Issue
3
Pages
517-533
ISSN
  • 1432-847X (ISSN-L)
  • 1867-383X
DOI
10.1007/s10018-020-00271-w
OpenAlex
W2982515141
Cited by
70
References
3
Citations by year
2026: 3 · 2025: 13 · 2024: 11 · 2023: 15 · 2022: 7 · 2021: 9 · 2020: 12
FWCI
9.14
Type
journal article
Language
en
Open access
Licence
Locations
  • Environmental Economics and Policy Studies (publishedVersion, cc-by)
  • SSRN Electronic Journal (acceptedVersion)
  • RePEc: Research Papers in Economics (submittedVersion, cc-by)
  • RePEc: Research Papers in Economics (submittedVersion)
Funders
Environmental Restoration and Conservation Agency (2-1707)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Climate Change Policy and Economics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Energy, Environment, Economic Growth
  • Physical Sciences › Energy › Renewable Energy, Sustainability and the Environment › Energy, Environment, and Transportation Policies
Keywords
emissions trading, office buildings, greenhouse gas emissions reduction, electricity price increase, Great East Japan Earthquake, permit prices, carbon pricing, building energy emissions

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