Will Markets Direct Investments Under the Kyoto Protocol? Lessons from the Activities Implemented Jointly Pilots
Under the Kyoto Protocol, countries can meet treaty obligations by investing in projects that reduce or sequester greenhouse gases elsewhere. Prior to ratification, treaty participants agreed to launch country-based pilot projects, referred to collectively as Activities Implemented Jointly (AIJ), to...
Gespeichert in:
| Veröffentlicht in: | Environmental & resource economics 2009-07, Vol.43 (3), p.433-456 |
|---|---|
| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext bestellen |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 456 |
|---|---|
| container_issue | 3 |
| container_start_page | 433 |
| container_title | Environmental & resource economics |
| container_volume | 43 |
| creator | Larson, Donald F Breustedt, Gunnar |
| description | Under the Kyoto Protocol, countries can meet treaty obligations by investing in projects that reduce or sequester greenhouse gases elsewhere. Prior to ratification, treaty participants agreed to launch country-based pilot projects, referred to collectively as Activities Implemented Jointly (AIJ), to test novel aspects of the project-related provisions. Relying on a ten-year history of projects, we investigate the determinants of AIJ investment. Our findings suggest that review-agency preferences related to national political objectives and possibly deeper cultural ties influenced project selection and limited the number of AIJ projects. Bilateral ties also appear to have affected investment decisions directly, possibly because of related transaction costs. The results suggest an investment process different from the assumptions that underlie well-known estimates of cost-savings related to the Protocol's flexibility mechanisms. We conclude that if approaches developed under the AIJ programs to approve projects are retained, the scale of investment under Kyoto's flexibility provisions and their cost-savings will be less than what is generally anticipated and the pattern of investment less driven by abatement costs. |
| doi_str_mv | 10.1007/s10640-009-9272-x |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_VO9</sourceid><recordid>TN_cdi_proquest_miscellaneous_37123241</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>20070948</sourcerecordid><originalsourceid>FETCH-LOGICAL-c5745-3f278dee5c422d9df33e6d7ac55de2a7f7e7b53faa766221155c9f7737721fe53</originalsourceid><addsrcrecordid>eNqFUctuEzEUHSGQCIUPYIXFgt2A386sUFVeKUFUgoil5c7cad147KntpM3f48kgkFjA4l5L1-ec-zhV9Zzg1wRj9SYRLDmuMW7qhipa3z-oFkQoVhOB6cNqgRvKa8klflw9SekGF6DiclGNP6xz6IuJW8gJvbMR2oxWfg8pD-BLaeM7iChfA_p8CDmgi1hyG9xbtIaUgk-oj2E4Ak7bbPc2W0hoNYwOJgHo0HmwPrsDurAu5PS0etQbl-DZr_ek2nx4__3sU73--nF1drquW6G4qFlP1bIDEC2ntGu6njGQnTKtEB1Qo3oF6lKw3hglJaWECNE2vVJMKUp6EOykejXrjjHc7so6erCpBeeMh7BLmilCGeXkv0BazosbvizAl38Bb8Iu-rKEphQvpeKKFhCZQW0MKUXo9RjtYOJBE6wnp_TslC4G6MkpfV845zMnwgjtb8LWjOAjlMpeM8NZSYcSdGIyY0tMpfH4xzQXUl_noYixWewuRNddGr_Voehsfbhz0F1B6RGSzeE4UbOUmks5XYvOrFS6-4L6s9u_5n4xk3oTtLmKNunNN4oJw0RywQhnPwEGBMw1</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>220867472</pqid></control><display><type>article</type><title>Will Markets Direct Investments Under the Kyoto Protocol? Lessons from the Activities Implemented Jointly Pilots</title><source>Open Knowledge Repository</source><creator>Larson, Donald F ; Breustedt, Gunnar</creator><creatorcontrib>Larson, Donald F ; Breustedt, Gunnar</creatorcontrib><description>Under the Kyoto Protocol, countries can meet treaty obligations by investing in projects that reduce or sequester greenhouse gases elsewhere. Prior to ratification, treaty participants agreed to launch country-based pilot projects, referred to collectively as Activities Implemented Jointly (AIJ), to test novel aspects of the project-related provisions. Relying on a ten-year history of projects, we investigate the determinants of AIJ investment. Our findings suggest that review-agency preferences related to national political objectives and possibly deeper cultural ties influenced project selection and limited the number of AIJ projects. Bilateral ties also appear to have affected investment decisions directly, possibly because of related transaction costs. The results suggest an investment process different from the assumptions that underlie well-known estimates of cost-savings related to the Protocol's flexibility mechanisms. We conclude that if approaches developed under the AIJ programs to approve projects are retained, the scale of investment under Kyoto's flexibility provisions and their cost-savings will be less than what is generally anticipated and the pattern of investment less driven by abatement costs.</description><identifier>ISSN: 0924-6460</identifier><identifier>EISSN: 1573-1502</identifier><identifier>DOI: 10.1007/s10640-009-9272-x</identifier><language>eng</language><publisher>Dordrecht: Dordrecht : Springer Netherlands</publisher><subject>C34 ; Carbon emissions ; Climate ; Climate change ; Cost control ; Count model ; D72 ; Economic Policy ; Economics ; Economics and Finance ; Emission standards ; Emissions ; Environmental Economics ; Environmental Economics: Government Policy Q580 ; Environmental Law/Policy/Ecojustice ; Environmental Management ; Environmental policy ; Estimates ; F35 ; F37 ; Global warming ; Global Warming Q540 ; Greenhouse effect ; Greenhouse gas ; Greenhouse gases ; Investment policy ; Joint implementation ; Kyoto Protocol ; Natural Disasters ; P16 ; Pilot projects ; Politics ; Protocol ; Q58 ; Selection model ; Studies ; Transition economies</subject><ispartof>Environmental & resource economics, 2009-07, Vol.43 (3), p.433-456</ispartof><rights>Springer Science+Business Media B.V. 2009</rights><rights>World Bank</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c5745-3f278dee5c422d9df33e6d7ac55de2a7f7e7b53faa766221155c9f7737721fe53</citedby><cites>FETCH-LOGICAL-c5745-3f278dee5c422d9df33e6d7ac55de2a7f7e7b53faa766221155c9f7737721fe53</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://link.springer.com/content/pdf/10.1007/s10640-009-9272-x$$EPDF$$P50$$Gspringer$$H</linktopdf><linktohtml>$$Uhttps://link.springer.com/10.1007/s10640-009-9272-x$$EHTML$$P50$$Gspringer$$H</linktohtml><link.rule.ids>314,776,780,3994,18961,27901,27902,41464,42533,51294</link.rule.ids><linktorsrc>$$Uhttps://hdl.handle.net/10986/4665$$EView_record_in_World_Bank$$FView_record_in_$$GWorld_Bank</linktorsrc><backlink>$$Uhttp://econpapers.repec.org/article/kapenreec/v_3a43_3ay_3a2009_3ai_3a3_3ap_3a433-456.htm$$DView record in RePEc$$Hfree_for_read</backlink></links><search><creatorcontrib>Larson, Donald F</creatorcontrib><creatorcontrib>Breustedt, Gunnar</creatorcontrib><title>Will Markets Direct Investments Under the Kyoto Protocol? Lessons from the Activities Implemented Jointly Pilots</title><title>Environmental & resource economics</title><addtitle>Environ Resource Econ</addtitle><description>Under the Kyoto Protocol, countries can meet treaty obligations by investing in projects that reduce or sequester greenhouse gases elsewhere. Prior to ratification, treaty participants agreed to launch country-based pilot projects, referred to collectively as Activities Implemented Jointly (AIJ), to test novel aspects of the project-related provisions. Relying on a ten-year history of projects, we investigate the determinants of AIJ investment. Our findings suggest that review-agency preferences related to national political objectives and possibly deeper cultural ties influenced project selection and limited the number of AIJ projects. Bilateral ties also appear to have affected investment decisions directly, possibly because of related transaction costs. The results suggest an investment process different from the assumptions that underlie well-known estimates of cost-savings related to the Protocol's flexibility mechanisms. We conclude that if approaches developed under the AIJ programs to approve projects are retained, the scale of investment under Kyoto's flexibility provisions and their cost-savings will be less than what is generally anticipated and the pattern of investment less driven by abatement costs.</description><subject>C34</subject><subject>Carbon emissions</subject><subject>Climate</subject><subject>Climate change</subject><subject>Cost control</subject><subject>Count model</subject><subject>D72</subject><subject>Economic Policy</subject><subject>Economics</subject><subject>Economics and Finance</subject><subject>Emission standards</subject><subject>Emissions</subject><subject>Environmental Economics</subject><subject>Environmental Economics: Government Policy Q580</subject><subject>Environmental Law/Policy/Ecojustice</subject><subject>Environmental Management</subject><subject>Environmental policy</subject><subject>Estimates</subject><subject>F35</subject><subject>F37</subject><subject>Global warming</subject><subject>Global Warming Q540</subject><subject>Greenhouse effect</subject><subject>Greenhouse gas</subject><subject>Greenhouse gases</subject><subject>Investment policy</subject><subject>Joint implementation</subject><subject>Kyoto Protocol</subject><subject>Natural Disasters</subject><subject>P16</subject><subject>Pilot projects</subject><subject>Politics</subject><subject>Protocol</subject><subject>Q58</subject><subject>Selection model</subject><subject>Studies</subject><subject>Transition economies</subject><issn>0924-6460</issn><issn>1573-1502</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2009</creationdate><recordtype>article</recordtype><sourceid>VO9</sourceid><sourceid>X2L</sourceid><sourceid>BENPR</sourceid><recordid>eNqFUctuEzEUHSGQCIUPYIXFgt2A386sUFVeKUFUgoil5c7cad147KntpM3f48kgkFjA4l5L1-ec-zhV9Zzg1wRj9SYRLDmuMW7qhipa3z-oFkQoVhOB6cNqgRvKa8klflw9SekGF6DiclGNP6xz6IuJW8gJvbMR2oxWfg8pD-BLaeM7iChfA_p8CDmgi1hyG9xbtIaUgk-oj2E4Ak7bbPc2W0hoNYwOJgHo0HmwPrsDurAu5PS0etQbl-DZr_ek2nx4__3sU73--nF1drquW6G4qFlP1bIDEC2ntGu6njGQnTKtEB1Qo3oF6lKw3hglJaWECNE2vVJMKUp6EOykejXrjjHc7so6erCpBeeMh7BLmilCGeXkv0BazosbvizAl38Bb8Iu-rKEphQvpeKKFhCZQW0MKUXo9RjtYOJBE6wnp_TslC4G6MkpfV845zMnwgjtb8LWjOAjlMpeM8NZSYcSdGIyY0tMpfH4xzQXUl_noYixWewuRNddGr_Voehsfbhz0F1B6RGSzeE4UbOUmks5XYvOrFS6-4L6s9u_5n4xk3oTtLmKNunNN4oJw0RywQhnPwEGBMw1</recordid><startdate>20090701</startdate><enddate>20090701</enddate><creator>Larson, Donald F</creator><creator>Breustedt, Gunnar</creator><general>Dordrecht : Springer Netherlands</general><general>Springer Netherlands</general><general>European Association of Environmental and Resource Economists</general><general>Springer Nature B.V</general><scope>FBQ</scope><scope>VO9</scope><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>0U~</scope><scope>1-H</scope><scope>3V.</scope><scope>7ST</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>87Z</scope><scope>8AO</scope><scope>8BJ</scope><scope>8FE</scope><scope>8FG</scope><scope>8FK</scope><scope>8FL</scope><scope>ABJCF</scope><scope>ABUWG</scope><scope>AEUYN</scope><scope>AFKRA</scope><scope>ATCPS</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>BGLVJ</scope><scope>BHPHI</scope><scope>C1K</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRNLG</scope><scope>F~G</scope><scope>GNUQQ</scope><scope>HCIFZ</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>L.0</scope><scope>L6V</scope><scope>M0C</scope><scope>M7S</scope><scope>PATMY</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PTHSS</scope><scope>PYCSY</scope><scope>Q9U</scope><scope>SOI</scope><scope>7TV</scope><scope>7U6</scope></search><sort><creationdate>20090701</creationdate><title>Will Markets Direct Investments Under the Kyoto Protocol? Lessons from the Activities Implemented Jointly Pilots</title><author>Larson, Donald F ; Breustedt, Gunnar</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c5745-3f278dee5c422d9df33e6d7ac55de2a7f7e7b53faa766221155c9f7737721fe53</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2009</creationdate><topic>C34</topic><topic>Carbon emissions</topic><topic>Climate</topic><topic>Climate change</topic><topic>Cost control</topic><topic>Count model</topic><topic>D72</topic><topic>Economic Policy</topic><topic>Economics</topic><topic>Economics and Finance</topic><topic>Emission standards</topic><topic>Emissions</topic><topic>Environmental Economics</topic><topic>Environmental Economics: Government Policy Q580</topic><topic>Environmental Law/Policy/Ecojustice</topic><topic>Environmental Management</topic><topic>Environmental policy</topic><topic>Estimates</topic><topic>F35</topic><topic>F37</topic><topic>Global warming</topic><topic>Global Warming Q540</topic><topic>Greenhouse effect</topic><topic>Greenhouse gas</topic><topic>Greenhouse gases</topic><topic>Investment policy</topic><topic>Joint implementation</topic><topic>Kyoto Protocol</topic><topic>Natural Disasters</topic><topic>P16</topic><topic>Pilot projects</topic><topic>Politics</topic><topic>Protocol</topic><topic>Q58</topic><topic>Selection model</topic><topic>Studies</topic><topic>Transition economies</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Larson, Donald F</creatorcontrib><creatorcontrib>Breustedt, Gunnar</creatorcontrib><collection>AGRIS</collection><collection>Open Knowledge Repository</collection><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>Global News & ABI/Inform Professional</collection><collection>Trade PRO</collection><collection>ProQuest Central (Corporate)</collection><collection>Environment Abstracts</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Global (Alumni Edition)</collection><collection>ProQuest Pharma Collection</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>ProQuest SciTech Collection</collection><collection>ProQuest Technology Collection</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>Materials Science & Engineering Collection</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest One Sustainability</collection><collection>ProQuest Central UK/Ireland</collection><collection>Agricultural & Environmental Science Collection</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>Technology Collection</collection><collection>Natural Science Collection</collection><collection>Environmental Sciences and Pollution Management</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>International Bibliography of the Social Sciences</collection><collection>Business Premium Collection (Alumni)</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>ProQuest Central Student</collection><collection>SciTech Premium Collection</collection><collection>International Bibliography of the Social Sciences</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Professional Standard</collection><collection>ProQuest Engineering Collection</collection><collection>ABI/INFORM Global</collection><collection>Engineering Database</collection><collection>Environmental Science Database</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>Engineering Collection</collection><collection>Environmental Science Collection</collection><collection>ProQuest Central Basic</collection><collection>Environment Abstracts</collection><collection>Pollution Abstracts</collection><collection>Sustainability Science Abstracts</collection><jtitle>Environmental & resource economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext_linktorsrc</fulltext></delivery><addata><au>Larson, Donald F</au><au>Breustedt, Gunnar</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Will Markets Direct Investments Under the Kyoto Protocol? Lessons from the Activities Implemented Jointly Pilots</atitle><jtitle>Environmental & resource economics</jtitle><stitle>Environ Resource Econ</stitle><date>2009-07-01</date><risdate>2009</risdate><volume>43</volume><issue>3</issue><spage>433</spage><epage>456</epage><pages>433-456</pages><issn>0924-6460</issn><eissn>1573-1502</eissn><abstract>Under the Kyoto Protocol, countries can meet treaty obligations by investing in projects that reduce or sequester greenhouse gases elsewhere. Prior to ratification, treaty participants agreed to launch country-based pilot projects, referred to collectively as Activities Implemented Jointly (AIJ), to test novel aspects of the project-related provisions. Relying on a ten-year history of projects, we investigate the determinants of AIJ investment. Our findings suggest that review-agency preferences related to national political objectives and possibly deeper cultural ties influenced project selection and limited the number of AIJ projects. Bilateral ties also appear to have affected investment decisions directly, possibly because of related transaction costs. The results suggest an investment process different from the assumptions that underlie well-known estimates of cost-savings related to the Protocol's flexibility mechanisms. We conclude that if approaches developed under the AIJ programs to approve projects are retained, the scale of investment under Kyoto's flexibility provisions and their cost-savings will be less than what is generally anticipated and the pattern of investment less driven by abatement costs.</abstract><cop>Dordrecht</cop><pub>Dordrecht : Springer Netherlands</pub><doi>10.1007/s10640-009-9272-x</doi><tpages>24</tpages></addata></record> |
| fulltext | fulltext_linktorsrc |
| identifier | ISSN: 0924-6460 |
| ispartof | Environmental & resource economics, 2009-07, Vol.43 (3), p.433-456 |
| issn | 0924-6460 1573-1502 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_37123241 |
| source | Open Knowledge Repository |
| subjects | C34 Carbon emissions Climate Climate change Cost control Count model D72 Economic Policy Economics Economics and Finance Emission standards Emissions Environmental Economics Environmental Economics: Government Policy Q580 Environmental Law/Policy/Ecojustice Environmental Management Environmental policy Estimates F35 F37 Global warming Global Warming Q540 Greenhouse effect Greenhouse gas Greenhouse gases Investment policy Joint implementation Kyoto Protocol Natural Disasters P16 Pilot projects Politics Protocol Q58 Selection model Studies Transition economies |
| title | Will Markets Direct Investments Under the Kyoto Protocol? Lessons from the Activities Implemented Jointly Pilots |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-31T10%3A49%3A27IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_VO9&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Will%20Markets%20Direct%20Investments%20Under%20the%20Kyoto%20Protocol?%20Lessons%20from%20the%20Activities%20Implemented%20Jointly%20Pilots&rft.jtitle=Environmental%20&%20resource%20economics&rft.au=Larson,%20Donald%20F&rft.date=2009-07-01&rft.volume=43&rft.issue=3&rft.spage=433&rft.epage=456&rft.pages=433-456&rft.issn=0924-6460&rft.eissn=1573-1502&rft_id=info:doi/10.1007/s10640-009-9272-x&rft_dat=%3Cproquest_VO9%3E20070948%3C/proquest_VO9%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=220867472&rft_id=info:pmid/&rfr_iscdi=true |