Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1088/1748-9326/aa54e8 |
Carbon dioxide removal and the futures market | |
Coffman, D&; 39;Maris | |
2017 | |
发表期刊 | ENVIRONMENTAL RESEARCH LETTERS |
ISSN | 1748-9326 |
出版年 | 2017 |
卷号 | 12期号:1 |
文章类型 | Letter |
语种 | 英语 |
国家 | England |
英文摘要 | Futures contracts are exchange-traded financial instruments that enable parties to fix a price in advance, for later performance on a contract. Forward contracts also entail future settlement, but they are traded directly between two parties. Futures and forwards are used in commodities trading, as producers seek financial security when planning production. We discuss the potential use of futures contracts in Carbon Dioxide Removal (CDR) markets; concluding that they have one principal advantage (near-term price security to current polluters), and one principal disadvantage (a combination of high price volatility and high trade volume means contracts issued by the private sector may cause systemic economic risk). Accordingly, we note the potential for the development of futures markets in CDR, but urge caution about the prospects for market failure. In particular, we consider the use of regulated markets: to ensure contracts are more reliable, and that moral hazard is minimised. While regulation offers increased assurances, we identify major insufficiencies with this approach-finding it generally inadequate. In conclusion, we suggest that only governments can realistically support long-term CDR futures markets. We note existing long-term CDR plans by governments, and suggest the use of state-backed futures for supporting these assurances. |
英文关键词 | forward contracts futures markets carbon dioxide removal negative emissions technologies voluntary carbon offsets |
领域 | 气候变化 |
收录类别 | SCI-E |
WOS记录号 | WOS:000394608900002 |
WOS关键词 | COUNTERPARTY RISK ; LIQUIDITY ; CAPTURE ; TECHNOLOGY ; CREDITS ; ENERGY |
WOS类目 | Environmental Sciences ; Meteorology & Atmospheric Sciences |
WOS研究方向 | Environmental Sciences & Ecology ; Meteorology & Atmospheric Sciences |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/26106 |
专题 | 气候变化 |
作者单位 | UCL, Sch Construct & Project Management, Bartlett Sch, 1-19 Torrington Pl, London WC1E 7HB, England |
推荐引用方式 GB/T 7714 | Coffman, D&,39;Maris. Carbon dioxide removal and the futures market[J]. ENVIRONMENTAL RESEARCH LETTERS,2017,12(1). |
APA | Coffman, D&,&39;Maris.(2017).Carbon dioxide removal and the futures market.ENVIRONMENTAL RESEARCH LETTERS,12(1). |
MLA | Coffman, D&,et al."Carbon dioxide removal and the futures market".ENVIRONMENTAL RESEARCH LETTERS 12.1(2017). |
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