Title Page
ABSTRACT
Contents
1. INTRODUCTION 9
1.1. Background 9
1.2. Research questions 12
1.3. Research objectives 12
1.4. Scope 13
1.5. Significance of the research 14
1.6. Organization of the thesis 16
2. LITERATURE REVIEW 17
2.1. History of the carbon market 17
2.2. Emission trading system concept 19
2.3. History of Colombia's climate change policies 22
2.4. International emission trading systems overview 24
2.4.1. China 27
2.4.2. South Korea 30
2.4.3. European Union 33
2.4.4. Mexico 35
2.5. Barriers faced the compared international ETSs 37
2.5.1. China 37
2.5.2. South Korea 38
2.5.3. European Union 39
2.5.4. Mexico 41
2.6. Research gap 43
3. RESEARCH METHODOLOGY 47
3.1. Study area 47
3.2. Research method and data collection 49
3.3. Interview questions 50
3.4. Data validity 53
4. DATA ANALYSIS AND INTERPRETATIONS 54
4.1. Barriers encountered in the compared ETS 54
4.2. Interview insights challenges 58
4.2.1. Governance, policy, and legal framework 59
4.2.2. Stakeholder engagement 63
4.2.3. Capacity building 68
4.2.4. Financial constraints 70
4.3. Interview's results summary 74
4.4. Answered research questions 77
5. DISCUSSION AND POLICY IMPLICATIONS 80
5.1. Discussion 80
5.2. Recommendations for future studies 82
BIBLIOGRAPHY 84
초록 88
Table 1. ETS implementation challenges compared. 55
Table 2. Barriers identified from interviews insights 75