2009
DOI: 10.3763/cpol.2008.0358
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Commitments through financial options: an alternative for delivering climate change obligations

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Cited by 17 publications
(13 citation statements)
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“…These gateways are subject to regular reviews. As an alternative, Ismer and Neuhoff (2006) propose that governments issue put options on the price of allowances. Such options would give investors in energy efficiency the right, but not the obligation, to sell allowances to the government at a predetermined (strike) price.…”
Section: Macrolevelmentioning
confidence: 99%
“…These gateways are subject to regular reviews. As an alternative, Ismer and Neuhoff (2006) propose that governments issue put options on the price of allowances. Such options would give investors in energy efficiency the right, but not the obligation, to sell allowances to the government at a predetermined (strike) price.…”
Section: Macrolevelmentioning
confidence: 99%
“…As better information about EU GHG supply and demand, and about the costs and benefits of reducing GHG emissions, arrives, so the intervention price can be modified, although there are probably good arguments for issuing long-term contracts for differences on the prevailing price to provide greater certainty for low-carbon investments. There are possibly stronger arguments for governments issuing put options on carbon to create credibility (Ismer and Neuhoff 2006).…”
Section: Discussionmentioning
confidence: 99%
“…in emissionshandelssystemen etwa können Mindestpreise durch die Ausgabe von Put-Optionen verankert werden (Ismer und Neuhoff 2009): Diese eigentumstitel würden von der regierung ausgegeben und garantieren ihrem Besitzer, zu einem bestimmten Zeitpunkt in der Zukunft -zum Beispiel im Jahr 2030 -Emissionszertifikate zu einem festgeschriebenen Preis an die regierung verkaufen zu können. Damit erhöht sich der Anreiz zukünftiger regierungen, den Preis im Handelssystem durch Verknappung über diesem Mindestwert zu halten, um den kostspieligen Aufkauf von Zertifikaten zu vermeiden.…”
Section: Glaubwürdige Klimapolitik Auf Nationalstaatlicher Ebeneunclassified