Cap-and-trade and project-based framework: how do carbon markets work for greenhouse emissions reduction?

Godoy, Sara Gurfinkel Marques de; Saes, Maria Sylvia Macchione

doi:10.1590/1809-4422asoc795v1812015en

Cited by 10 publications

(6 citation statements)

References 3 publications

(2 reference statements)

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“…The second type specifies the obligation to sequester carbon dioxide during a certain time. Trading contracts of multiple types in an ETS is common [20].…”

Section: Nature Of the Traded Contractsmentioning

confidence: 99%

A price on warming with a supply chain directed market

Raffensperger

2021

Discov Sustain

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Existing emissions trading system (ETS) designs inhibit emissions but do not constrain warming to any fixed level, preventing certainty of the global path of warming. Instead, they have the indirect objective of reducing emissions. They provide poor future price information. And they have high transaction costs for implementation, requiring treaties and laws. To address these shortcomings, this paper proposes a novel double-sided auction mechanism of emissions permits and sequestration contracts tied to temperature. This mechanism constrains warming for many (e.g., 150) years into the future and every auction would provide price information for this time range. In addition, this paper proposes a set of market rules and a bottom-up implementation path. A coalition of businesses begin implementation with jurisdictions joining as they are ready. The combination of the selected market rules and the proposed implementation path appear to incentivize participation. This design appears to be closer to “first best” with a lower cost of mitigation than any in the literature, while increasing the certainty of avoiding catastrophic warming. This design should also have a faster pathway to implementation. A numerical simulation shows surprising results, e.g., that static prices are wrong, prices should evolve over time in a way that contradicts other recent proposals, and “global warming potential” as used in existing ETSs are generally erroneous.

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“…The second type specifies the obligation to sequester carbon dioxide during a certain time. Trading contracts of multiple types in an ETS is common [20].…”

Section: Nature Of the Traded Contractsmentioning

confidence: 99%

A price on warming with a supply chain directed market

Raffensperger

2021

Discov Sustain

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“…Despite the peculiar energetic matrix due to the major use of hydroelectric power in Brazil, this is a developing country and there is an increasing demand for cement and construction materials. Consequently, the development of sustainable cementitious materials with lower CO 2 emissions meets the Paris COP21 [50] resolution to reduce the greenhouse gases related to the climate changes. On the other hand, since GHG mitigation projects generate carbon credits [51], this approach can be also used to support the development of the necessary infrastructure of the country.…”

Section: Reduction Of Co 2 Emissions In the Cement Industry Due To Thmentioning

confidence: 99%

Partial replacement of cement with granular marble residue: effects on the properties of cement pastes and reduction of CO2 emission

Gonçalves

Andrade

2020

SN Appl. Sci.

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The effects of CP V Portland cement replacement with granular marble residues were investigated. The physical-chemical properties of the starting materials and of the pastes were characterized by XRD, XRF, TG/DTA, SEM and granulometric analyses. Axial compressive strength, apparent density, capillary and total capacity of water absorption of the hardened pastes with 0, 10, 20 and 30% replacements, aged for 28 days, were characterized. The results indicated that the partial replacement by the marble residue did not affect the cement hydration but provided packaging improvements and some filler action. The reduction of CO 2 emission was estimated as 0.28 million tons per year due to replacement of 10% CP V Portland cement with the marble residue. The results indicated that this is an alternative means to reduce the CO 2 emissions in the cement industry and to reuse marble residues that otherwise could be inadequately disposed.

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“…Além de obter vantagens financeiras com a venda dos créditos, as empresas brasileiras podem aliar à sua imagem a responsabilidade socioambiental e as tecnologias mais limpas (Paiva et al, 2012;Paiva, 2015). Entretanto, o interesse em participar deste mercado tem diminuído em razão do baixo preço dos créditos de carbono, reflexo da crise econômica global e da incerteza em relação ao futuro da governança ambiental do clima, particularmente antes da assinatura do Acordo de Paris (Souza, Alvarez & Andrade, 2013;Godoy & Saes, 2015).…”

Section: Revisão Da Literaturaunclassified

Projetos De MDL De Energia Eólica No Nordeste Do Brasil: Perfil E Co-Benefícios Declarados

Góes

Andrade

Silva

et al. 2018

RGSA

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RESUMO Os projetos do Mecanismo de Desenvolvimento Limpo (MDL) devem ter como objetivo complementar a promoção de cobenefícios ambientais, sociais e econômicos para o desenvolvimento sustentável. Assim, o objetivo desta pesquisa é analisar o perfil e os cobenefícios declarados nos projetos de MDL de energia eólica no Nordeste do Brasil. Para isso, foi realizada uma análise documental de 47 Documentos de Concepção do Projeto (DCP) de todos os projetos de energia eólica no Nordeste, registrados pelo Conselho Executivo do MDL até maio de 2016. Os resultados mostram uma predominância de projetos de pequeno porte, localizados em distritos ou pequenos municípios, em especial no estado do Rio Grande do Norte (43%). Mais de um terço dos projetos, apresenta estimativa de redução anual média de Gases do Efeito Estufa (GEE) de até 50.000 toneladas de CO2 equivalente. Em relação aos cobenefícios declarados, constatou-se que os cobenefícios ambientais são muito inferiores aos sociais e econômicos. O cobenefício ambiental mais citado foi a melhoria na qualidade do ar; o social mais citado foi a geração de novas oportunidades de emprego; e o econômico, o estímulo à economia regional. A análise concluiu que foi dada pouca ênfase à declaração dos cobenefícios nos DCP e que estes poderiam ser ampliados caso houvesse, no MDL, a previsão de mensuração e verificação dos cobenefícios gerados após a implantação do projeto, analogamente ao que já acontece com a redução das emissões de GEE. Palavras-chave:Brasil. Cobenefícios para o desenvolvimento sustentável. Energia eólica; Projetos de MDL.ABSTRACT CDM (Clean Development Mechanism) projects should have as a secondary objective the promotion of environmental, social and economic co-benefits for sustainable development. Thus, the purpose of this research is to analyze the profile and declared co-benefits in CDM wind energy projects in Northeast of Brazil. Thus, a documentary analysis of 47 Project Design Documents (PDD) of all wind energy projects in the Northeast recorded by the CDM Executive Board until May 2016 was carried out. Results show a predominance of small projects, located in districts or small municipalities, especially in the state of Rio Grande do Norte (43%). More than a third of the projects present an estimate of average annual reduction of Greenhouse Gases (GHG) of up to 50,000 tons of CO2 equivalent. With regard to declared co-benefits, we found that environmental co-benefits are much lower than the social and economic ones. The most cited environmental co-benefit was the improvement in air quality; the social most cited was the generation of new job opportunities; and the stimulus to regional economy. The analysis concludes that little emphasis was placed on declaration of the co-benefits in the PDD and that these could be expanded if there were in the CDM the prediction of measurement and verification of the co-benefits generated after the project implementation, similarly to what already happens with GHG emissions reduction.

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Cap-and-trade and project-based framework: how do carbon markets work for greenhouse emissions reduction?

Cited by 10 publications

References 3 publications

A price on warming with a supply chain directed market

A price on warming with a supply chain directed market

Partial replacement of cement with granular marble residue: effects on the properties of cement pastes and reduction of CO2 emission

Projetos De MDL De Energia Eólica No Nordeste Do Brasil: Perfil E Co-Benefícios Declarados

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