1 / 6

Prof Bobby Banerjee , Cass Business School +44 20 7040 5280 Bobby.Banerjee@city.ac.uk

Carbon Markets in Question:. Prof Bobby Banerjee , Cass Business School +44 20 7040 5280 Bobby.Banerjee@city.ac.uk Prof Veronica Hope-Hailey, Dean, School of Management, University of Bath +44 1225 383769 v.hope.hailey@bath.ac.uk

toan
Télécharger la présentation

Prof Bobby Banerjee , Cass Business School +44 20 7040 5280 Bobby.Banerjee@city.ac.uk

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Carbon Markets in Question: Prof Bobby Banerjee, Cass Business School +44 20 7040 5280 Bobby.Banerjee@city.ac.uk Prof Veronica Hope-Hailey, Dean, School of Management, University of Bath +44 1225 383769 v.hope.hailey@bath.ac.uk Prof David L. Levy, Department of Management and Marketing, Director, Center for Sustainable Enterprise and Regional Competitiveness, University of Massachusetts, BostonDavid.Levy@umb.edu Prof Stefanos Mouzas, Lancaster University Management School, +44 1524 510986 s.mouzas@lancaster.ac.uk Dr Shahzad Ansari, Cambridge Judge Business School +44 1223 768128 s.ansari@jbs.cam.ac.uk Dr Jane Davies, Cambridge Judge Business School +44 1223 339651 j.davies@jbs.cam.ac.uk Dr Gareth Veal, Prize Fellow Sustainability, School of Management, University of Bath +44 1225 384972 g.j.veal@bath.ac.uk

  2. Agenda

  3. Overall objective? To ask: How can management researchers inform improvements in the design and implementation of climate change regulation?

  4. Climate change as a market failure Objective: CO2 markets aim “to bring [CO2] emissions within the frame of economic calculation, by giving them a price” (MacKenzie, 2009: 441) Form: CO2 markets are “markets in permits to emit CO2 gases or in credits earned by not emitting them” (MacKenzie, 2009: 440). Selling points: Capital efficiency, reduction target set up front

  5. CO2 markets: As designed Sell CO2saved beyond allocation Option 1: ‘MAKE’ CO2 reductions in-house (facilities with cheap CO2 abatement options) CO2market Buy CO2to cover emissions above allocation Option 2: ‘BUY’ CO2reductions from CO2 market (facilities with expensive CO2 abatement options)

  6. CO2 markets: Some figures • Value: $176 billion in 2011 (World Bank) • Reach: United Nations, European Union, regional and state-level initiatives within the United States of America, New Zealand, even as pilot versions at 7 major cities within China • Penalties: E.g. Shenzhen’s pilot in China will carry fines of 3 times the market price for CO2 for those who don’t comply • Climate targets: CO2 markets underpinned by long-term government targets for CO2 emission reductions, e.g. European Union has set a target for an 80-95% reduction by 2050 against a 1990 baseline. • Opportunities: Minimising exposure may eventually provide competitive advantage.

More Related