Global Carbon Market and Emission Trading Systems: Investment Perspective

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Course description

International community, through Paris Agreement, has agreed to reduce global emission levels to combat global warming. This instrument has provided a basis for recognizing the international carbon markets to allow Parties to use international emission trading systems (ETS) to help achieve emission reduction targets. The effectiveness of ETS will not only rely on institutional design, but also on its policy implementation. A number of challenges may arise related to emissions measurement, reporting, and verification, lack of sufficient incentives for compliance and weak financial penalties for non-compliance, as well as missing procedural uniformity from certain pilot projects. As one of the best-established markets, European ETS accounts for more than three-quarters of the total market value of all traded emission allowances. Having initiated its nation-wide ETS in February 2021, China is expected to become the largest carbon market soon. A Sino-European perspective will be applied to analyze the rights and obligations of market participants, specify the legal nature of the traded units, and examine the issues of market manipulation and abuse. The course will provide theoretical and practical knowledge on ESG investing opportunities in carbon markets in the EU and China. 

Key Benefits

Upon completion of the course, participants will be:

  • acquainted with carbon markets and investment opportunities in a low-carbon economy
  • familiar with functionality and compliance of emission trading systems in the EU and China

Course teacher

Assistant Professor Wen Xiang, Faculty of Law, University of Copenhagen

Associate Professor Wen Xiang, Faculty of Law, University of Copenhagen
Read about the instructor

See the course presentation video

Participant profile

Attorneys-at-law; in-house counsel; business professionals involved in ESG investing; governmental agencies facilitating carbon markets.


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