The relationships between CDM project characteristics and CER market prices

Trotter, Ian Michael; Cunha, Dênis Antônio da; Féres, José Gustavo

doi:10.1016/j.ecolecon.2015.08.016

Cited by 14 publications

(5 citation statements)

References 57 publications

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“…It highlights the difficulties of establishing project‐level baselines (i.e., determining whether the projects in question would have been done independently) and ensuring additionality . Small(er)‐scale projects in particular facing higher transaction costs usually have not profited from project‐based approaches . Moreover, leakage and doubts with regard to the permanence of achieved emission reductions are issues hampering the effectiveness of project‐based schemes.…”

Section: Past Focus Of Climate Financementioning

confidence: 99%

“…24,25 Small(er)-scale projects in particular facing higher transaction costs usually have not profited from project-based approaches. 26 Moreover, leakage and doubts with regard to the permanence of achieved emission reductions are issues hampering the effectiveness of project-based schemes. In addition, while the CDM was also designed to make contributions to sustainable socioeconomic development and technology transfer, many CDM projects have failed to make significant progress toward these goals.…”

Section: Past Focus Of Climate Financementioning

confidence: 99%

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From climate finance toward sustainable development finance

Steckel

Jakob

Flachsland

et al. 2016

WIREs Climate Change

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Decarbonizing the global energy system requires large‐scale investment flows, with a central role for international climate finance to mobilize private funds. The willingness to provide international finance in accordance with common but differentiated responsibilities was acknowledged by the broad endorsement of the Paris Agreement, and the Green Climate Funds in particular. The international community aims to mobilize at least USD 100 billion per year for mitigation and adaption in developing countries. In this article, we argue that too little attention has been paid on the spending side of climate finance, both in the political as well as the academic debate. To this end, we review the challenges encountered in project‐based approaches of allocating climate finance in the past. In contrast to project‐based finance, we find many advantages to spending climate finance in support of price‐based national policies. First, the support for international climate cooperation is improved when efforts of successively rising domestic carbon pricing levels are compensated. Second, carbon pricing sets incentives for least‐cost mitigation. Third, investing domestic revenues from emission pricing schemes could advance a country's individual development goals and ensure the recipient's ‘ownership’ of climate policies. We conclude that by reconciling the global goal of cost‐efficient mitigation with national policy priorities, climate finance for carbon pricing could become a central pillar of sustainable development and promote international cooperation to achieve the climate targets laid down in the Paris Agreement. WIREs Clim Change 2017, 8:e437. doi: 10.1002/wcc.437 This article is categorized under: Climate Economics > Economics and Climate Change Climate and Development > Decoupling Emissions from Development

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Section: Past Focus Of Climate Financementioning

confidence: 99%

Section: Past Focus Of Climate Financementioning

confidence: 99%

From climate finance toward sustainable development finance

Steckel

Jakob

Flachsland

et al. 2016

WIREs Climate Change

View full text Add to dashboard Cite

show abstract

“…However, neither study mentioned ODA projects as a counterfactual to their analyses. Similarly, other scholars, pointing out the malfunctioning of the CDM in the case of low international demand for CERs (and the consequent dramatic drop of their prices, as after the global financial crisis) and the dependency of CDM project characteristics on CER price, did not include ODA-CDM comparisons in their narrative [37,38,39].…”

Section: Research Questionsmentioning

confidence: 99%

Climate cooperation from Kyoto to Paris: What can be learnt from the CDM experience?

Mele¹,

Paglialunga²,

Sforna³

2021

Socio-Economic Planning Sciences

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“…The economic incentives associated with policy instruments, for example emission trading or carbon credits, can also be important in influencing investment in low carbon technologies (Wordsworth & Grubb, 2003). In the context of developing countries, the sale of carbon credits is likely to provide an important incentive for investment in clean technologies (Trotter, da Cunha, & Féres, 2015). In order to benefit from carbon credits under emissions trading, for instance, projects are expected to offer real emissions reductions as well as benefits to host countries, such as the transfer of technology and know-how (Fischer, 2005;Gillenwater and Seres, 2011).…”

Section: Market Incentivesmentioning

confidence: 99%

The roles of network embeddedness, market incentives, and slack resources in the adoption of clean technologies by firms in developing countries

et al. 2018

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Worldwide carbon dioxide emissions continue to increase driven by fossil fuel consumption and industrial discharges. Progress on carbon emission reduction requires firms to adopt clean technologies which minimize material and energy consumption. Technological change is particularly required in developing countries, where industrial emissions often lead to chronic urban pollution problems. In this study, we explore the antecedents of clean technology strategy by firms in developing countries. We combine the contingent natural resource based view with the relational view to examine how network embeddedness, market incentives and slack resources influence adoption of clean technology. The empirical support for our hypotheses comes from data obtained from 342 firms that operated in the carbon-offset market during the years 2007 to 2009. We find that a firm's relational network structure influences adoption of clean technologies, particularly when market incentives are low. Contrary to one of the hypotheses, the results of our paper suggest a negative relationship between a firm's slack resources and its clean technology strategy. Our study highlights the benefits of networks in fostering adoption of clean technology in developing countries. Furthermore, we find that high market incentives (carbon price) decrease the probability of clean technology adoption, so adding to the view that firms respond to carbon offset rules to realise high carbon revenues at the lowest cost.

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The relationships between CDM project characteristics and CER market prices

Cited by 14 publications

References 57 publications

From climate finance toward sustainable development finance

From climate finance toward sustainable development finance

Climate cooperation from Kyoto to Paris: What can be learnt from the CDM experience?

The roles of network embeddedness, market incentives, and slack resources in the adoption of clean technologies by firms in developing countries

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