DOI: 10.1080/14693062.2014.905443
Scopus记录号: 2-s2.0-84922235705
论文题名: Time to market in the CDM: variation over project characteristics and time
作者: Magnusson R
刊名: Climate Policy
ISSN: 1469-3062
EISSN: 1752-7457
出版年: 2015
卷: 15, 期: 2 起始页码: 183
结束页码: 222
语种: 英语
英文关键词: Clean Development Mechanism (CDM)
; climate change
; emissions trading schemes
; Kyoto Protocol
; policy instruments
; UNFCCC
Scopus学科分类: nvironmental Science: General Environmental Science
; Earth and Planetary Sciences: Atmospheric Science
英文摘要: Not only is the carbon market inundated with Certified Emissions Reductions (CERs) issued by successful projects, it is also littered with failed projects, that is, projects that either fail to be registered under the Clean Development Mechanism (CDM) or projects that have been successfully registered but fail to issue CERs. By relying on a novel application of survival analysis in the context of the CDM, this article shows that half of all projects that start the Global Stakeholder Process fail to issue CERs, while the other half have a median time to market of four years. Furthermore, it is shown that some of the best projects, in terms of being additional, are those that are least likely to make it to market, whereas some of the worst projects, in terms of not being additional, are the ones that are most likely to make it to market. This presents a fundamental challenge for the CDM and future offset schemes that rely on the same design as the CDM. In contrast with previous studies, it is shown that, when project characteristics are controlled for, not all durations measured along the CDM project cycle have increased over time.Policy relevance: This article develops a novel method for analysing durations measured along the CDM project cycle that avoids the biases of previous studies, and corrects for some misconceptions of what the delays faced by CDM projects are and how these delays have changed over time. Developing an understanding of the delays is important in order not to draw the wrong lessons from the CDM experience. As the leading example of an offset scheme, both in terms of geographical scope and sectoral coverage, and some would say institutional complexity, the CDM serves as a benchmark and reference for all future offset schemes, among others, for the New Market Mechanisms (NMMs) and the Chinese domestic offset programme. While the NMMs are still very much in development, China has announced that it will rely on the methodologies and procedures developed under the CDM for generating offsets for their regional carbon trading schemes. © 2014, © 2014 Taylor & Francis. Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/80432
Appears in Collections: 科学计划与规划
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作者单位: University of Helsinki, Department of Political and Economic Studies, Helsinki Center of Economic Research, Discipline of Economics, Arkadiankatu 7 (P.O. Box 17), Finland
Recommended Citation:
Magnusson R. Time to market in the CDM: variation over project characteristics and time[J]. Climate Policy,2015-01-01,15(2)