12116 10 35707 2 79449 document 35707 Permits vs. offsets under investment uncertainty.pdf application/pdf e9a0cb0e5db6b7f0f8a721675ed9de01 MD5 838429 2016-03-01 10:37:22 https://pure.iiasa.ac.at/id/eprint/12116/1/Permits%20vs.%20offsets%20under%20investment%20uncertainty.pdf 12116 1 1 application/pdf text en public cc_by

Permits vs. offsets under investment uncertainty.pdf

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/35707 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/35707 http://eprints.org/relation/ismediumThumbnailVersionOf https://pure.iiasa.ac.at/id/document/35707 35718 2 79469 document 35718 small.jpg image/png 858eb424b598fb79359c928d2bc4bbc1 MD5 1878 2016-03-01 10:47:57 https://pure.iiasa.ac.at/id/eprint/12116/6/small.jpg 12116 6 6 image/png other Thumbnails conversion from text to thumbnail_small en public

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/35707 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/35707 http://eprints.org/relation/issmallThumbnailVersionOf https://pure.iiasa.ac.at/id/document/35707 archive 353 disk0/00/01/21/16 2016-03-01 10:39:27 2021-08-27 17:40:18 2016-03-01 10:39:27 article show Koch N. Reuter W. H. Fuss S. 8259 Grosjean G. pub prog_esm cap-and-trade; REDD; offsets; real option; investment 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. 2017-08-01 published 10.2139/ssrn.2711321 101 public SSRN Electronic Journal 49 33-47 TRUE 1556-5068 FALSE no info:eu-repo/semantics/article