@techreport{Dutschke2004Value,
abstract = {The Milan conference of the UN Framework Convention on Climate Change has
established two types of emission offsets under the Clean Development Mechanism
(CDM), valid for afforestation and reforestation activities. In order to account for the
non-permanent nature of carbon storage in forests, these credits expire after a predefined
periods, after which the buyer needs to replace them. The present article
assesses their market value in relation to ?permanent? credits, identifies their specific
risks and proposes how to mitigate and manage them. It analyzes strengths and
weaknesses of expiring credits for sellers and buyers. Taking the example of the EU
emissions trading system, the authors discuss how expiring credits could reach
fungibility with permanent emission allowances on domestic markets.},
author = {Michael Dutschke and Bernhard Schlamadinger and Jenny P. Wong-Leung and Michael Rumberg},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {Q13; Q25; Q23; 330; CDM; afforestation; reforestation; permanence; insurance; lCER; tCER; Klimaschutz; Clean Development Mechanism; Aufforstung; Emissionsrechte; Laufzeit; Theorie; Deutschland},
language = {eng},
number = {290},
title = {Value and Risks of Expiring Carbon Credits from CDM Afforestation and Reforestation},
type = {HWWA Discussion Paper},
url = {http://hdl.handle.net/10419/19262},
year = {2004}
}
