Carbon Beta - A Framework for Determining Carbon Price Impacts on Valuation

2019 ◽  
Author(s):  
Andre Bertolotti ◽  
Michael Kent
Keyword(s):  
Carbon Price ◽  
Price Impacts

scholarly journals Comparison of integrated assessment models: Carbon price impacts on U.S. energy

Energy Policy ◽  
2015 ◽  
Vol 76 ◽  
pp. 18-31 ◽  
Author(s):  
Jordan T. Wilkerson ◽  
Benjamin D. Leibowicz ◽  
Delavane D. Turner ◽  
John P. Weyant
Keyword(s):  
Integrated Assessment ◽  
Carbon Price ◽  
Integrated Assessment Models ◽  
Price Impacts

scholarly journals Carbon Price Impacts on the Chinese Tourism Industry

2020 ◽  
Vol 60 (2) ◽  
pp. 370-383
Author(s):  
Samuel Meng ◽  
Tien Pham ◽  
Larry Dwyer ◽  
Bligh Grant
Keyword(s):  
Carbon Price ◽  
Tourism Industry ◽  
Energy Prices ◽  
Subsidy Policy ◽  
Goods And Services ◽  
Adverse Impacts ◽  
Price Impacts ◽  
Short Run ◽  
Negative Impacts ◽  
Trading Scheme

This study simulates the short-run effects of an Emissions Trading Scheme (ETS) and two auxiliary policies on the Chinese tourism industry. The results show that the ETS alone will increases energy prices and have significant adverse impacts on China’s economy. The adverse impacts are relatively stronger on the energy sectors than they are on tourism. Two auxiliary policies—a tourism subsidy and a reduced goods and services tax (GST)—are examined as policy options to soften the negative impacts of the ETS. Results show that the tourism-subsidy policy is more effective than the GST reduction policy.

Reduced deforestation and the carbon market: the role of market regulations and future commitments

2012 ◽  
Vol 17 (3) ◽  
pp. 269-292 ◽  
Author(s):  
Niels Anger ◽  
Alistair Dixon ◽  
Erich Livengood
Keyword(s):  
Carbon Price ◽  
Emissions Reduction ◽  
Carbon Markets ◽  
Compliance Cost ◽  
Economic Implications ◽  
Climate Policies ◽  
Price Impacts ◽  
Developed Nations

AbstractReducing emissions from deforestation and degradation (REDD) has been proposed as an economic and extensive source of emission abatement to supplement other long-term climate policies. However, critics suggest an excess supply of REDD credits may disrupt emerging carbon markets and raise north–south equity concerns. In this context, we investigate the economic implications of REDD regulations and future emissions reduction commitments. Numerical model simulations show that unrestricted exchange of REDD units reduces the international carbon price by half and cuts compliance costs by roughly one-third. Developed nations’ requirements for policy supplementarity, which restrict demand for REDD credits, reduce such price impacts but go at the expense of both economic efficiency and benefits to rainforest areas. Instead, unlimited REDD access facilitates climate policy targets to be tightened by almost a quarter at constant compliance cost, tripling the environmental ambition of the Kyoto Protocol and providing considerable wealth transfers to developing countries.

Comparing the Clean Air Act and a Carbon Price

2013 ◽  
Author(s):  
Nathan D. Richardson ◽  
Arthur G. Fraas
Keyword(s):  
Clean Air Act ◽  
Carbon Price ◽  
Clean Air

scholarly journals Carbon Price Forecasting Based on Improved CEEMDAN and Extreme Learning Machine Optimized by Sparrow Search Algorithm

2021 ◽  
Vol 13 (9) ◽  
pp. 4896
Author(s):  
Jianguo Zhou ◽  
Dongfeng Chen
Keyword(s):  
Prediction Model ◽  
Extreme Learning Machine ◽  
Emission Reduction ◽  
Search Algorithm ◽  
Carbon Price ◽  
Integration Scheme ◽  
Combination Model ◽  
Price Prediction ◽  
Price Series ◽  
Learning Machine

Effective carbon pricing policies have become an effective tool for many countries to encourage emission reduction. An accurate carbon price prediction model is helpful for the implementation of energy conservation and emission reduction policies and the decision-making of governments and investors. However, it is difficult for a single prediction model to achieve high prediction accuracy because of the high complexity of the carbon price series. Many studies have proved the nonlinear characteristics of carbon trading prices, but there are very few studies on the chaotic nature of carbon price series. As a consequence, this paper proposes an innovative hybrid model for carbon price prediction. A decomposition-reconstruction-prediction-integration scheme is designed to predict carbon prices. Firstly, several intrinsic mode functions (IMFs) and one residue were obtained from the raw data decomposed by ICEEMDAN. Next, the decomposed subsection is reconstructed into a new sequence according to the calculation results by the Lempel-Ziv complexity algorithm. Then, considering the chaotic characteristics of sequence, the input variables of the models are determined through the phase space reconstruction (PSR) algorithm combined with the partial autocorrelation function (PACF). Finally, the Sparrow search algorithm (SSA) is introduced to optimize the extreme learning machine (ELM) model, which is applied in the carbon price prediction for the purpose of verifying the validity of the proposed combination model, which is applied to the pilots of Hubei, Beijing, and Guangdong. The empirical results show that the combination model outperformed the 13 other models in predicting accuracy, speed, and stability. The decomposition-reconstruction-prediction-integration strategy is a method for predicting the carbon price efficiently.

scholarly journals Carbon pricing under uncertainty

2021 ◽  
Author(s):  
Frederick van der Ploeg
Keyword(s):  
Term Structure ◽  
Discount Rate ◽  
Carbon Price ◽  
Abatement Cost ◽  
Risk Tolerance ◽  
Policy Uncertainty ◽  
Carbon Pricing ◽  
Policy Makers ◽  
Macroeconomic Uncertainty ◽  
Wide Range

AbstractEconomists have adopted the Pigouvian approach to climate policy, which sets the carbon price to the social cost of carbon. We adjust this carbon price for macroeconomic uncertainty and disasters by deriving the risk-adjusted discount rate. We highlight ethics- versus market-based calibrations and discuss the effects of a falling term structure of the discount rate. Given the wide range of estimates used for marginal damages and the discount rate, it is unsurprising that negotiators and policy makers have rejected the Pigouvian approach and adopted a more pragmatic approach based on a temperature cap. The corresponding cap on cumulative emissions is lower if risk tolerance and temperature sensitivity are more uncertain. The carbon price then grows much faster than under the Pigouvian approach and discuss how this rate of growth is adjusted by economic and abatement cost risks. We then analyse how policy uncertainty and technological breakthrough can lead to the risk of stranded assets. Finally, we discuss various obstacles to successful carbon pricing.

Sign in / Sign up

Export Citation Format

Share Document