is a crucial component in the fight against climate change.

是應對氣候變化的一個重要組成部分。

One way governments are trying to reduce their emissions is through carbon trading, a market-based

政府試圖減少排放的一種方式是通過碳交易，這是一種基於市場的方法。

system that aims to provide the economic incentives for countries and businesses

體系，旨在為國家和企業提供經濟激勵措施

to reduce their environmental footprint.

以減少其環境足跡。

Almost every activity from travel to farming and even watching this video leads to the

從旅遊到農業，甚至看這個視頻，幾乎所有的活動都會導致

emission of gases such as carbon dioxide, contributing to the greenhouse effect

排放二氧化碳等氣體，造成溫室效應。

responsible for climate change.

應對氣候變化負責。

Unlike voluntary offsets, where consumers can choose to pay a company to balance out

與自願抵消不同的是，消費者可以選擇向公司支付費用來平衡他們的收入。

their carbon footprint, such as funding reforestation projects which absorb CO2, carbon trading

他們的碳足跡，如資助吸收二氧化碳的再造林項目、碳交易等。

is a legally binding scheme that caps total emissions and allows organizations to trade

是一個具有法律約束力的計劃，它規定了排放總量的上限，並允許各組織進行交易。

their allocation, hence the term “cap and trade."

他們的分配，是以被稱為 "上限和交易"。

All “cap-and-trade" systems have emissions limits calculated by governments and policymakers,

所有 "上限與交易 "系統都有政府和決策者計算的排放限制。

which are compatible with their target of limiting environmental damage.

符合其限制環境損害的目標；

Carbon allowances, or units, totalling up to this maximum are then allocated to companies

然後將總計達到這一最高限額的碳配額或組織、部門分配給公司。

and can be traded on a market.

並可以在市場上進行交易。

Each year, organizations with a large carbon footprint are allocated an allowance proportionate

每年，碳足跡大的組織都會按比例分配一定的津貼。

to their historical emissions, which can then be bought and sold on a secondary market.

到其歷史排放量，然後可以在二級市場上買賣。

If, for example, a company knows they have gone over their allowance, then they will

例如，如果一家公司知道他們已經超過了他們的津貼，那麼他們就會......。

need to buy more carbon units from their carbon market.

需要從其碳市場購買更多的碳組織、部門。

But if they implemented measures to reduce their emissions, they can sell any excess

但如果他們實施了減排措施，他們可以出售任何多餘的東西。

units on the market.

組織、部門在市場上。

A credit, which can start from $12 or run as high as $125, allows for the emission of

信用額度可以從12美元開始，也可以高達125美元，允許排放以下物質

pollutants equivalent to one ton of carbon dioxide.

相當於一噸二氧化碳的汙染物。

The price of carbon is determined by supply and demand.

碳的價格是由供求關係決定的。

Supply of units is capped at a level deemed acceptable and their cost will rise and fall

組織、部門的供應量被限制在被認為可接受的水準上，其成本將有增有減。

depending on whether firms find alternatives to polluting.

取決於企業是否找到汙染的替代品。

By assigning a price to damaging activity, the system provides a financial incentive

通過給破壞性活動定價，該系統提供了一種財政激勵措施。

for firms to reduce emissions, whilst lowering the overall cost of these reductions as the

企業減少排放，同時降低這些減排的總體成本，因

cheapest improvements are made first.

最便宜的改進是先進行的。

Although carbon trading seems great in theory, it hasn't been easy to put into practice.

雖然碳交易在理論上看起來很好，但要付諸實踐卻並不容易。

The first international carbon market was set up under the

第一個國際碳市場是根據《公約》建立的。

UN's 1997 Kyoto Protocol on Climate Change.

聯合國1997年《京都氣候變化議定書》；

However, following widespread reports of corruption and abuse of the system, the market collapsed.

然而，在腐敗和濫用制度的廣泛報道之後，市場崩潰了。

A report in 2015 found that an estimated 80% of sustainable projects under the trading

2015年的一份報告發現，估計有80%的可持續項目在交易下

scheme were questionable, enabling emissions to increase by roughly 600 million metric tons.

計劃是有問題的，使排放量增加了大約6億公噸。

Since then, there hasn't been a consensus on the best way to implement

從那時起，人們就一直沒有就實施最佳方式達成共識。

a cap-and-trade scheme globally.

全球範圍內的上限和交易計劃。

However, there are a number of emission trading markets around the world

然而，世界上有許多排放交易市場。

at both national and regional levels.

在國家和區域兩級。

The oldest active carbon market is the European Union's Emission Trading System, which

最古老的活躍的碳市場是歐盟的排放交易系統，該系統包括

launched in 2005, while other schemes are operating in Canada, Japan, New Zealand, South

Korea, Switzerland and the United States. At the start of 2021, China launched the world's

韓國、瑞士和美國。2021年初，中國推出了世界上最。

largest carbon market for its thermal power industry.

其火電行業最大的碳市場。

The sector accounts for 40% of China's emissions, equivalent to double the emissions covered

該行業的排放量佔中國排放量的40%，相當於中國排放量的兩倍。

by the EU's carbon market.

由歐盟的碳市場。

As governments tightened environmental standards, the total value of global carbon markets grew

隨著各國政府對環境標準的收緊，全球碳市場的總價值也在不斷增長。

34% in 2019, reaching €194 billion.

34%，在2019年達到1940億歐元。

It's the third consecutive year of record growth and values these emissions nearly five

這是連續第三年創紀錄的增長，並將這些排放值近5。

times their worth in 2017.

2017年其價值的倍。

And the number of cap-and-trade markets is likely to increase as many countries, cities

而隨著許多國家、城市的發展，上限與交易市場的數量可能會增加。

and companies worldwide try to meet their ambitious pledge of net-zero carbon emissions

和世界各地的公司都在努力實現其零碳排放的宏偉承諾。

by 2050 — a target set by the United Nations.

到2050年 -- -- 這是聯合國確定的目標。

Cap-and-trade systems have been successful in tackling environmental problems in the

定量與交易制度在解決環境問題方面取得了成功。

past, including one covering sulphur dioxide emissions, which helped reduce acid rain in

過去，包括一個涉及二氧化硫排放的項目，這有助於減少酸雨。

the U.S. Compared to direct regulations or taxes, carbon trading doesn't require as

與直接的法規或稅收相比，碳交易並不需要那麼多的資金。

much government intervention in the economy, leaving businesses to find their solutions.

政府對經濟的干預太多，讓企業自己去尋找解決辦法。

And as long as the cost of emitting greenhouse gases is high enough to encourage these alternatives,

而只要排放溫室氣體的成本高到足以鼓勵這些替代品。

many environmentalists believe it could be a relatively straightforward and efficient

許多環保人士認為，這可能是一個相對直接和有效的。

method to drive decarbonization.

推動脫碳的方法；

However, an oversupply of carbon allowances during the 2008 financial crisis saw the price

然而，在2008年金融危機期間，由於碳排放配額供過於求，碳排放配額的價格也隨之上漲。

of polluting fall in the EU's trading system, reducing the incentive

在歐盟的貿易體系中，汙染程度的下降，減少了汙染的動力。

for businesses to change their behaviour.

為企業改變其行為。

In response, the EU created the 'market stability reserve,' or MSR, a decade later,

為此，歐盟在十年後建立了 "市場穩定儲備"，即MSR。

which gives the European Commission the ability to tighten or loosen the supply of carbon units.

這使歐盟委員會有能力收緊或放鬆碳組織、部門的供應。

As a result, their price tripled from 8 euros per tonne of CO2

是以，其價格從每噸二氧化碳8歐元增加了三倍。

to around 25 euros per tonne of CO2 over a year.

一年內每噸二氧化碳約為25歐元。

In turn, the energy sector moved output away from coal power stations to cleaner, natural

反過來，能源部門又將產出從煤電站轉移到更清潔的自然環境中。

gas powered-electricity production that produces less CO2.

以天然氣為動力的電力生產，產生的二氧化碳較少。

In 2019, emissions fell by 8.7%, the largest decline since 2009.

2019年，排放量下降8.7%，為2009年以來最大降幅。

The EU's carbon market has also caught the eye of hedge funds and traders.

歐盟的碳市場也引起了對沖基金和交易商的注意。

Whereas OPEC controls a third of the global oil supply, the EU regulates all carbon allowances

歐佩克控制了全球三分之一的石油供應，而歐盟則對所有的碳配額進行了監管。

within its emission trading system.

在其排放交易系統內。

And with the EU's long-term aim of gradually increasing the price of carbon units, these

而隨著歐盟逐步提高碳組織、部門價格的長期目標，這些

are seen as a popular long-term investment.

被視為受歡迎的長期投資。

While the COVID-19 pandemic led to a glut of carbon allowances as activity across the

雖然COVID-19的大流行導致碳配額過剩，因為整個國家的活動都在進行。

economy fell, prices are now back up above pre-COVID levels.

經濟下降，現在價格又回到了COVID前的水準之上。

However, there are concerns that heavy emitters may find loopholes in carbon trading systems.

然而，有人擔心，重度排放者可能會在碳交易系統中找到漏洞。

Unlike the earlier Kyoto Protocol agreement, the 2015 Paris Climate Agreement commits all

與此前的《京都議定書》不同，2015年《巴黎氣候協定》承諾所有

signatories, not just the most developed economies, to impose carbon emission targets.

簽署國，而不僅僅是最發達的經濟體，實施碳排放目標；

If implemented successfully, analysts believe that international emissions trading could

分析人士認為，如果成功實施，國際排放交易可以做到

cut global emissions by around 60% to 80% by 2035.

到2035年將全球排放量減少約60%至80%。

Critics of carbon trading worry that countries facing economic difficulties might be tempted

碳交易的批評者擔心，面臨經濟困難的國家可能會受到誘惑。

to cheat, either by making their overall emissions cap too generous,

來作弊，要麼是使其整體排放上限過於寬鬆。

or using accounting tricks to overstate reductions.

或利用會計技巧多報減量。

For example, a nation might reduce its carbon emissions by building a wind farm to replace

例如，一個國家可能會通過建設一個風力發電場來減少其碳排放，以取代傳統的 "風場"。

a coal-fired power station.

一座燃煤發電站；

This would free up a portion of its carbon allowance, which could be sold to another

這將騰出一部分碳排放額度，可以出售給另一個國家。

country but might still count as a reduction in the first country's emissions, even though

但仍可算作第一個國家的排放減少量，即使是

overall output hasn't changed.

整體輸出沒有變化。

There are also fears that major polluters might relocate across borders to avoid signing

還有人擔心，主要汙染者可能會越境搬遷，以避免簽署。

up for a cap-and-trade scheme, or finding a more lenient jurisdiction.

上限與交易計劃，或尋找一個更寬鬆的管轄區。

Another criticism of carbon markets is that developed countries, which have done most

對碳市場的另一個責備是，發達國家做得最多的是，它們的碳市場是一個很好的市場。

of the polluting to date, are able to invest in low-carbon technology and have reoriented

的汙染，能夠投資於低碳技術，並已調整方向。

their economies to less carbon-intensive activities, unlike poorer nations.

與較貧窮的國家不同，它們的經濟轉向碳密集度較低的活動。

Climate campaigners also argue that too much focus on merely redistributing pollution obscures

氣候運動者還認為，過於關注僅僅是汙染的再分配，會掩蓋了 "汙染 "一詞。

the fundamental need for all countries to transition away from fossil fuels in the near

所有國家都必須在近期內擺脫化石燃料的基本需要

future to avoid severe and irreversible damage to the environment.

以避免對環境造成嚴重和不可逆轉的損害。

The increasing popularity of cap-and-trade schemes, and the rising price of carbon allowances

上限與交易計劃越來越受歡迎，碳排放額度的價格也在上漲

are forcing companies to consider their effect on the climate

迫使公司考慮其對氣候的影響。

and has led to a reduction in emissions.

並帶來了減排效果。

Although imperfect, the EU's carbon trading scheme is a model for other economies to emulate.

歐盟的碳交易計劃雖然不完善，但卻是其他經濟體可以效仿的模式。

With the creation of the biggest carbon market in China and the US's return to the Paris

隨著中國最大碳市場的建立和美國重返巴黎

Climate Agreement, the global carbon market's size and importance look set to grow.

氣候協議，全球碳市場的規模和重要性看起來會越來越大。

Hi guys, thanks for watching our video.

大家好，感謝觀看我們的視頻。

So do you think carbon trading is an effective way to tackle climate change

那麼你認為碳交易是應對氣候變化的有效途徑嗎？

or is there a better way?

還是有更好的方法？

Comment below the video to let us know and we'll see you next time.

在視頻下方留言讓我們知道，我們下次再見。