全球智库信息集成服务系统(G2TT): Permits vs. Offsets Under Investment Uncertainty.

G2TT

来源类型	Article
规范类型	其他
DOI	10.2139/ssrn.2711321
	Permits vs. Offsets Under Investment Uncertainty.
	Koch N; Reuter W H; Fuss S; Grosjean G
发表日期	2017
出处	SSRN Electronic Journal 49: 33-47
出版年	2017
语种	英语
摘要	A global crediting mechanism would enable developing countries without binding emissions reduction targets to participate in the international carbon market. Linking the framework on Reducing Emissions from Deforestation and Forest Degradation (REDD) as an offset program to major cap-and-trade programs is a particularly promising approach to increase both climate finance and cost-efficiency. However, the coexistence of permits and offsets also creates a classic case of interaction effects. In this paper, we explore how the availability of multiple compliance instruments affects energy investment incentives. Alternative trading and linkage schemes are compared using a real options model of firm-level investment decisions under stochastic prices and the ability to delay investments. We first isolate the critical design factors that drive private investments in the energy sector. We then identify policy regimes that balance the different concerns in the polarized debate for and against the inclusion of forest carbon offsets.
主题	Ecosystems Services and Management (ESM)
关键词	cap-and-trade REDD offsets real option investment
URL	http://pure.iiasa.ac.at/id/eprint/12116/
来源智库	International Institute for Applied Systems Analysis (Austria)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/130982
推荐引用方式 GB/T 7714	Koch N,Reuter W H,Fuss S,et al. Permits vs. Offsets Under Investment Uncertainty.. 2017.