Consulta: creatorFacets:"Tee,   James"
Registros recuperados: 3
Data/hora: 13/06/2024 07:30:38

Valuation of Carbon Forestry and the New Zealand Emissions Trading Scheme: A Real Options Approach Using the Binomial Tree Method
Provedor de dados: 31
Autores: Tee,   James; Scarpa,   Riccardo; Marsh,   Dan; Guthrie,   Graeme.
Under the New Zealand Emissions Trading Scheme, new forests planted on/after 1st January 1990 can earn carbon credits. These credits have to be repaid upon forest harvest. This paper analyses the effects of this carbon scheme on the valuation of bareland, on which radiata pine is to be planted. NPV/LEV and Real Options methods are employed, assuming stochastic timber and carbon prices. Valuation increases significantly and rotation age is likely to be lengthened. We include a scenario analysis of potential implications of rotation age lengthening on carbon stock management in New Zealand.
Tipo: Presentation
Palavras-chave: Emissions Trading Scheme (ETS); Climate change policy; Kyoto Protocol; Real options; Carbon forestry; Tradable permit; Demand and Price Analysis; Environmental Economics and Policy; Land Economics/Use; Resource /Energy Economics and Policy; Risk and Uncertainty; Q23; Q28; Q54.
Ano: 2012
URL: http://purl.umn.edu/123665

Climate Change Mitigation Policy: The Effect of the New Zealand Emissions Trading Scheme on New Radiata Pine Forest Plantations in New Zealand
Provedor de dados: 31
Autores: Tee,   James; Scarpa,   Riccardo; Marsh,   Dan; Guthrie,   Graeme.
Climate change is one of the toughest challenges facing the world today. Putting a price on carbon emissions is an important step towards climate change mitigation. A cap and trade system is one of the ways to create a carbon price. The New Zealand Emissions Trading Scheme (NZETS) is the world’s first economy-wide cap and trade system that covers all sectors and all 6 greenhouse gases. Forestry is a major part of the NZETS, allowing foresters to earn carbon credits for new forests planted on and after 1st January 1990 (afforestation and reforestation). At the same time, the NZETS also makes foresters liable for harvesting new forests planted on and after 1st January 1990, and deforesting forests existing on and before 31st December 1989. In this paper, we...
Tipo: Conference Paper or Presentation
Palavras-chave: Environmental Economics and Policy.
Ano: 2011
URL: http://purl.umn.edu/100703

A Binomial Tree Approach to Valuing Fixed Rotation Forests and Flexible Rotation Forests Under a Mean Reverting Timber Price Process
Provedor de dados: 31
Autores: Tee,   James; Scarpa,   Riccardo; Marsh,   Dan; Guthrie,   Graeme.
NPV and LEV are established and common approaches to valuing single rotation and infinite rotation forests respectively, when the rotation age is fixed in advanced. More recently, Real Options approaches have been employed to value single and infinite rotation forests with a flexible harvest age. Under a stochastic timber price process, it has been shown that the valuation of a flexible rotation forest is equal or higher than that of a fixed rotation forest, because a flexible harvest regime delays the harvest if the timber price is not favourable, whereas a fixed harvest regime would proceed to harvest regardless of the price. Often, valuation of fixed and flexible rotation ages are compared using 2 different methods – NPV (or LEV) and Real Options. The...
Tipo: Conference Paper or Presentation
Palavras-chave: NPV; LEV; Real Options; Optimal Harvest Decision; Agribusiness; Crop Production/Industries; Environmental Economics and Policy; Land Economics/Use.
Ano: 2010
URL: http://purl.umn.edu/96836