Transaction costs of the Kyoto Mechanisms

被引:78
作者
Michaelowa, A
Stronzik, M
Eckermann, F
Hunt, A
机构
[1] Hamburg Inst Int Econ, D-20347 Hamburg, Germany
[2] Ctr European Econ Res, D-68059 Mannheim, Germany
[3] Metroecon Ltd, Bath BA2 2AR, Avon, England
关键词
CDM; JI; emissions trading; small scale projects; transaction costs;
D O I
10.1016/S1469-3062(03)00061-5
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
Transaction costs will reduce the attractiveness of the Kyoto Mechanisms compared to domestic abatement options. Especially the project-based mechanisms Clean Development Mechanism (CDM) and Joint Implementation (JI) are likely to entail considerable costs of baseline development, verification and certification. The Activities Implemented Jointly (AIJ) pilot phase and the Prototype Carbon Fund (PCF) programme give indications about the level of these costs. Under current estimates of world market prices for greenhouse gas emission permits, projects with annual emission reductions of less than 50,000 t CO2 equivalent are unlikely to be viable; for micro projects transaction costs can reach several hundred E per t CO2 equivalent. Thus, the Marrakech Accord rule to have special rules for small scale CDM projects makes sense, even if the thresholds chosen advantage certain project types; projects below 1000 t CO2 equivalent per year should get further exemptions. An alternative solution with no risk for the environmental credibility of the projects would be to subsidise baseline setting and charge lower, subsidised fees for small projects for the different steps of the CDM/second track JI project cycle. (C) 2003 Elsevier Ltd. All rights reserved.
引用
收藏
页码:261 / 278
页数:18
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