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Measuring the Potential of Unilateral CDM - A Pilot Study - AgEcon
Jahn, Michael; Michaelowa, Axel; Raubenheimer, Stefan; Liptow, Holger.
The Clean Development Mechanism (CDM) was originally seen as an instrument with a bilateral character where an entity from an industrialised country invests in a project in a developing country (DC). Also, multilateral funds were envisaged that would bundle investments to spread project risks. The sluggish implementation of incentives for industrialised country companies to embark on CDM projects and low carbon prices led to a preference of just buying Certified Emission Reductions (CERs) instead of investing in projects. Thus a third option has gained prominence - the unilateral option where the project development is planned and financed within the DC. We propose that a project should be called "pure unilateral" if it involves no foreign direct...
Tipo: Working or Discussion Paper Palavras-chave: Clean Development Mechanism; Unilateral; Institutions; Project participants; Financing; Risk premium; Environmental Economics and Policy; Q25; O13.
Ano: 2004 URL: http://purl.umn.edu/26400
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