Due to an increasing number of climate-related events, for example more frequent floods, climate change has become a topic that almost everyone around the world cares about. To mitigate climate change, regions and countries worldwide, for example the EU, California, China, Japan, and Korea, are now using Greenhouse Gas (GHG) Emissions Trading Schemes (ETSs). In particular, from 2013 to 2014, China gradually established seven pilot ETSs, including those in Shenzhen, Shanghai, Beijing, Guangdong, Tianjin, Hubei, and Chongqing. In 2016 and 2021, respectively, the Fujian pilot ETS and the national ETS were put into operation. Most notably, the national ETS, which started in the power-generation sector, has become the largest in the world in terms of covered CO2 emissions. China’s active efforts to reduce GHG emissions are a response to its significant emissions. China has been the world’s largest GHG emitter since 2009, due to its past extensive economic growth model.