Public attitudes to personal carbon allowances: findings from a mixed-method study

Wallace, Andrew; Irvine, Katherine N.; Wright, Andrew Jordan; Fleming, Paul

doi:10.4324/9781849776721-5

Cited by 6 publications

(7 citation statements)

References 1 publication

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“…Most research on PCT focuses on equity, effectiveness, public acceptability, barriers to implementation and its potential advantages over the existing climate policy instruments, such as upstream "cap and trade" systems and carbon taxes (Harwatt, 2008;Jagers, 2010;Eyre, 2010;Bristow et al, 2010;Parag and Eyre, 2010;Fawcett et al, 2007;Wallace et al, 2010;Sorrell, 2010;Parag et al, 2011;Wadud, 2011;Starkey, 2012). Compared with a simple tax system the costs of PCT, which include implementation cost, participation cost and transaction cost, may be higher (Fawcett, 2010).…”

Section: Introductionmentioning

confidence: 99%

Buffer effect and price effect of a personal carbon trading scheme

Fan

Wang

et al. 2015

Energy

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Personal carbon trading (PCT) is a downstream cap-and-trade scheme used to reduce carbon emissions from the household sector. It is argued that the PCT scheme could provide a buffer between the energy price and the total energy price, and thus energy demand remains stable. However these effects have never been verified. To fill in this gap in the literature, a price effect analysis is conducted. Firstly, a general utility optimization (GUO) model is proposed to obtain the general formulae of the price effect, substitution effect and income effect under the PCT scheme. Secondly, a specific version of the GUO model, namely a Cobb-Douglas utility function model, is employed to obtain the specific effect formulae to verify the buffer effect. Finally, a numerical example and a sensitive analysis are presented to demonstrate these effects. The results indicate that, under the PCT scheme, the total energy price and energy demand are less sensitive to the energy price changes. Thus, when energy prices fluctuate, the PCT scheme is capable of providing certainty in emissions reduction and is more effective than carbon taxes. On the basis of these results, implications of this research are discussed and suggestions for future research are provided.

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Section: Introductionmentioning

confidence: 99%

Buffer effect and price effect of a personal carbon trading scheme

Fan

Wang

et al. 2015

Energy

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“…PCT is a novel carbon abatement policy instrument, which has not yet been fully developed in theory and never been implemented in practice due to its high transaction costs (Fawcett and Parag []). Most studies of PCT focus on equity, effectiveness, public acceptability, barriers to implementation, and its potential advantages compared with the existing climate policy instruments, such as upstream “cap and trade” systems and carbon taxes (Harwatt [], Bristow et al [], Eyre [], Wallace et al [], Parag et al [], Wadud [], Starkey []).…”

Section: Introductionmentioning

confidence: 99%

Energy‐use Choices and Allowance Trading Under the Personal Carbon Trading Scheme

Fan

Wang

et al. 2015

Natural Resource Modeling

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Abstract. Carbon emissions caused by the household sector have become a major contributor to total emissions. Personal carbon trading (PCT), although untested in practice, could potentially be a powerful tool to induce change in consumer behavior. In this paper, we present an optimization model to determine the energy use choices and allowance trading, and a market equilibrium model to obtain the total supply and demand functions of allowances and then to derive the equilibrium allowance price. It is shown that the level of allocated allowance, energy price, emission rate, and transaction costs could influence the equilibrium allowance price and traded volume. Furthermore, the allowance price is affected negatively and slightly by changes in energy prices, so the total energy price variations will be lessened relatively in the PCT scheme. To further demonstrate these relationships, numerical simulations are conducted. On the basis of the simulation results, the implications of this study are discussed and suggestions for future study are provided.

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“…The government had ambitious carbon reduction goals and the PCT concept was explored, inspired by the belief that it is a policy that reduces emissions in an efficient and fair way (Fawcett 2010). Studies on social feasibility find support levels of around 25-40% (Owen et al 2008;Wallace et al 2010), up to 80% (Bristow et al 2010). These levels are relatively high given the radical novelty of the concept.…”

Section: Literature On the Feasibility Of Tradable Creditsmentioning

confidence: 99%

Exploring the feasibility of tradable credits for congestion management

Krabbenborg

Molin

Annema

et al. 2021

Transportation Planning and Technology

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Tradable credits for congestion management are a novel policy concept that is receiving increased interest in transportation research. This interest is mainly driven by the belief that the concept can count on stronger social support and hence has a better prospect for implementation than charging-based instruments. This paper is the first to provide an analysis of the social, political, economic and technical feasibility of this concept. To this end, policymakers and researchers from the field of transport have been interviewed. The results reveal so many barriers and challenges in the social and political context that some seem insurmountable, which exposes a difference with expectations formulated in the literature. We reflect on possible options to overcome or avoid barriers but conclude that the concept of tradable peak credits lies very far from the current way of thinking about road use and seems unable to compete with more established charging schemes.

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Public attitudes to personal carbon allowances: findings from a mixed-method study

Cited by 6 publications

References 1 publication

Buffer effect and price effect of a personal carbon trading scheme

Buffer effect and price effect of a personal carbon trading scheme

Energy‐use Choices and Allowance Trading Under the Personal Carbon Trading Scheme

Exploring the feasibility of tradable credits for congestion management

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