Suchergebnisse

Tesis Doctoral le?da en la Universidad Rey Juan Carlos de Madrid en 2011. Director de la Tesis: Pablo Mart?nez de Anguita ; The destruction of forests-principally in the tropics-emits massive amounts of carbon dioxide. Reducing emissions from deforestation and forest degradation (REDD)-a prime source of lowcost reductions of greenhouse gas emissions-in tropical forest nations could make a substantial contribution to addressing climate change. To date, large-scale forest protection efforts have been financed primarily by official development assistance, which are in most cases orders of magnitude lower than required. A better way-both in terms of economic efficiency and political plausibility-is to draw capital flows from the carbon market. Using the market as a source of funds can free billions in financial flows. However there is no place for these tons in existing carbon market policy frameworks. The goal of this dissertation is to shed light on the issues preventing "market-based REDD" from taking off, as well as to illustrate some potential solutions and paths forward. "Market-based REDD" would enable developing nations themselves to earn carbon credits for verified emissions reductions against an agreed national baseline and sell them in existing carbon markets. This would encourage emissions reductions in tropical forest nations while helping to manage the costs of compliance in countries that take on economy-wide caps. However, a prominent concern with market-based REDD has been that emissions reductions from forests will be so abundant as to "flood the carbon market". We use a multi-period partial equilibrium modeling approach to assess the impact of REDD tons in frameworks with long time horizons. We conclude that the long-term horizon, the progressive tightening of emission caps, and the possibility of banking enable a direct market-based funding mechanism to deliver financing at significant scale and absorb the maximum quantity of REDD credit tons, even in the near-term. Absent an overarching ...