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来源类型Article
规范类型其他
DOI10.1016/j.enpol.2016.05.040
Fair pricing of REDD-based emission offsets under risk preferences and benefit-sharing.
Khabarov N; Obersteiner M
发表日期2016
出处Energy Policy 96: 193-205
出版年2016
语种英语
摘要We consider a risk-aware forest owner and electricity producer evaluating the Reduced Emissions from Deforestation and Degradation (REDD)-based offsets with a benefit-sharing mechanism under uncertain CO2 prices. For a range of CO2 prices and respective risks perceived by the forest owner (seller) and electricity producer (buyer), we apply a model of fair (indifference) pricing. Parties’ risk preferences are reflected by exponential utility functions. The potentially contracted amounts of REDD offsets are analyzed under various risk preferences and for different benefit-sharing opportunities. Our results show that a risk-averse attitude considerably increases the contracted offset amounts (compared to risk-neutral case) and, therefore, creates a higher potential for REDD implementation. We demonstrate possible situations, when parties could agree on a certain range of REDD contracts, e.g. smaller amounts of REDD offsets are traded for higher prices, and larger amounts – for lower prices, although contracting a moderate amount at a moderate price is impossible. The suggested benefit-sharing mechanism can help increase contracted offset amounts. Our modeling results highlight two ways to promote higher REDD participation: (i) strengthening the carbon price signal to reveal risk-averse behavior of energy producers, and (ii) implementing the mechanism of benefit/risk sharing between the REDD consumer and supplier.
主题Ecosystems Services and Management (ESM)
关键词Electricity generation CO2 emissions REDD offsets Benefit-sharing Risk preferences
URLhttp://pure.iiasa.ac.at/id/eprint/13286/
来源智库International Institute for Applied Systems Analysis (Austria)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/130555
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Khabarov N,Obersteiner M. Fair pricing of REDD-based emission offsets under risk preferences and benefit-sharing.. 2016.
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