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China's relaunch of the Certified Voluntary Emission Reduction (CCER) market is essential to the operation of the carbon emission trading market. Traditional single policy effect evaluation models cannot comprehensively reflect the economic and environmental impacts brought about by China's restart of the CCER market. To effectively assess the comprehensive policy effects of introducing the CCER into the carbon trading mechanism in the power industry, it is necessary to construct a coupled model for policy effect evaluation. Therefore, against the backdrop of China's restart of the CCER market and utilizing China's 2020 input–output table, we have developed a comprehensive assessment model. This model couples a dynamic recursive computable general equilibrium model with a greenhouse gas and air pollution interactions and synergies model to analyze the effects of introducing CCERs into the carbon trading mechanism in the power industry on the economy, energy, residents' welfare, and environmental health. Results show that restarting the CCER market leads to a gradual increase in the gap between the price of carbon allowances and the price of CCERs. Carbon trading and the CCER mechanism exert a considerable inhibiting effect on the growth of total energy consumption, and the proportion of nonfossil energy on the consumption side is forecasted to exceed 80% by 2060. In terms of residents' welfare, the introduction of CCERs into the carbon trading mechanism does not substantially improve the welfare level of residents but drastically reduces the level of residents' carbon emissions. Furthermore, this study confirms that CCER restart can successfully stimulate pollutant emission reduction and effectively reduce the number of attributable deaths, which in turn enhances health benefits. We also provide targeted recommendations for the restart of the CCER market regarding the proportion of CCER offsets, the structure of population consumption, and regional emission reduction policies to help facilitate the smooth operation of the carbon trading market. © 2025 The Authors
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Advances in Climate Change Research
ISSN: 1674-9278
Year: 2025
7 . 4 0 0
JCR@2022
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ESI Highly Cited Papers on the List: 0 Unfold All
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30 Days PV: 12
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