ABSTRACT

Emissions trading is a cost-effective climate policy for reducing greenhouse gas emissions. It could also be useful for addressing road transport emissions, especially given that this sector is the largest CO₂ emitter in the transportation sector and its emissions continue to increase. However, emissions trading for road transport (ETS-RT) has rarely been implemented due to its complexity. This paper designs a novel and practical policy framework for an ETS-RT based on advanced blockchain technology, including all related entities upstream, midstream and downstream of the road transport sector. First, the government determines the cap and allocates the initial permits. Then, fuel producers, vehicle manufacturers, and vehicle users are involved as regulated entities with tradable emission permits. They are responsible for the three determinants of CO₂ emissions in the road transport sector: fuel emission factors, vehicle fuel economy, and vehicle miles travelled, respectively. With all the regulated entities collaborating on compliance, the three determinants can be synergistically optimized so that the efficiency of the emissions abatement can be maximized. In addition, all trading, monitoring, reporting, and verification of the emission permits are automatically executed and recorded via a smart contract deployed on a decentralized blockchain. This approach can dramatically reduce administrative costs, improve transparency and traceability, and eliminate double counting and fraud. Finally, the proposed policy was evaluated using a multicriteria analysis method compared with other possible ETS-RT approaches.

Key policy insights

• Fuel producers, vehicle manufacturers, and vehicle users – who are respectively responsible for fuel emission factors, vehicle fuel economy and vehicle miles travelled – should be synergistically regulated in an ETS-RT to maximize the efficiency of emissions abatement.

• This can be enabled by advanced blockchain technology, which can eliminate the need for a central authority, while enhancing transparency, traceability and cost-effectiveness.

• Blockchain technology could also be useful for monitoring, reporting and verification under the Paris Agreement.

• A blockchain-based ETS-RT is found to outperform other forms of ETS on criteria of acceptability, feasibility and environmental performance.

抽象的

排放交易是减少温室气体排放的经济有效的气候政策。这对于解决公路运输的排放也可能很有用，尤其是考虑到该部门是最大的CO ₂交通部门的排放量及其排放量继续增加。但是，由于其复杂性，很少实施公路运输的排放交易（ETS-RT）。本文基于先进的区块链技术设计了一种适用于ETS-RT的新颖实用的政策框架，包括公路运输行业上游，中游和下游的所有相关实体。首先，政府确定上限并分配初始许可证。然后，燃料生产商，车辆制造商和车辆用户将成为具有可交易排放许可证的受监管实体。他们负责CO ₂的三个决定因素公路运输部门的排放：分别为燃料排放因子，车辆燃料经济性和行驶里程。通过所有受监管实体在合规方面的合作，可以协同优化三个决定因素，从而最大程度地减少排放。此外，排放许可证的所有交易，监控，报告和验证均通过部署在去中心化区块链上的智能合约自动执行和记录。这种方法可以大大降低管理成本，提高透明度和可追溯性，并消除重复计算和欺诈行为。最后，与其他可能的ETS-RT方法相比，使用多准则分析方法对提议的政策进行了评估。

重要政策见解

• 燃油生产商，车辆制造商和车辆使用者（分别负责燃油排放因子，车辆燃油经济性和行驶里程）应在ETS-RT中进行协同监管，以最大程度地减少排放。

• 这可以通过先进的区块链技术来实现，该技术可以消除对中央管理机构的需求，同时提高透明度，可追溯性和成本效益。

• 区块链技术对于《巴黎协定》下的监测，报告和核查也可能有用。

• 在可接受性，可行性和环境绩效的标准上，基于区块链的ETS-RT被认为优于其他形式的ETS。