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Efficient Contracts For Carbon Credits From Reforestation Projects

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Author Info
Suzi Kerr

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Abstract

This paper tackles the complex issue of how buyers and sellers within a domestic carbon credit system designed to include regenerating indigenous forest would optimally design contracts for trades of the new good, “carbon sink credits”. The paper begins by briefly defining the constraints that sink projects must meet. This implicitly shows the freedom we have in designing contracts. In the context of a simple numerical example I discuss the constraints that the market puts on contracts. In particular I consider the interests of the buyers and sellers, and how they can maximise and share gains through contract design. I outline the sources of risk and discuss who has advantages in dealing with these risks. The best contract designs impose the risk on those most able to address or absorb it. I illustrate the potential gains from sink contracts with a range of conditions and contracts.

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File URL: http://129.3.20.41/eps/othr/papers/0401/0401003.pdf
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Publisher Info
Paper provided by EconWPA in its series Others with number 0401003.

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Date of creation: 08 Jan 2004
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Handle: RePEc:wpa:wuwpot:0401003

Note: Type of Document - pdf; prepared on Word 2000; to print on PC;
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Web page: http://129.3.20.41

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Related research
Keywords: climate; contracts; carbon credits; reforestation; projects;

Other versions of this item:

Find related papers by JEL classification:
Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Toman, Michael & Kerr, Suzi & Sedjo, Roger & Birdsey, Richard & Kauppi, Pekka & Noble, Ian & Brown, Sandra & Krankina, Olga & Moura-Costa, Pedro, 2001. "Can Carbon Sinks be Operational? An RFF Workshop Summary," Discussion Papers dp-01-26, Resources For the Future. [Downloadable!]
  2. Philip Fearnside & Daniel Lashof & Pedro Moura-Costa, 2000. "Accounting for time in Mitigating Global Warming through land-use change and forestry," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 5(3), pages 239-270, September. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Suzi Kerr & Joanna Hendy & Shuguang Liu & Alexander S.P. Pfaff, 2004. "Tropical Forest Protection, Uncertainty, and the Environmental Integrity of Carbon Mitigation Policies," Others 0411001, EconWPA. [Downloadable!]
    Other versions:
  2. Suzi Kerr & Emma Brunton & Ralph Chapman, 2005. "Policy to Encourage Carbon Sequestration in Plantation Forests," Others 0509009, EconWPA. [Downloadable!]
    Other versions:
  3. Michelle Poland & David C Maré, 2005. "Defining Geographic Communities," Urban/Regional 0509016, EconWPA. [Downloadable!]
    Other versions:
  4. David C Maré, 2005. "Indirect Effects of Active Labour Market Policies," HEW 0509004, EconWPA. [Downloadable!]
    Other versions:
  5. Arthur Grimes, 2005. "Regional and Industry Cycles in Australasia: Implications for a Common Currency," Macroeconomics 0509020, EconWPA. [Downloadable!]
    Other versions:
  6. Arthur Grimes, 2005. "Intra & Inter-Regional Industry Shocks: A New Metric with an Application to Australasian Currency Union," Macroeconomics 0509019, EconWPA. [Downloadable!]
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This page was last updated on 2009-12-2.

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