Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process
This paper builds on the findings of an earlier unpublished discussion paper titled ‘designing a model for networked carbon markets’, with its objective being to describe key elements of the mitigation value assessment process. The outcome of this...
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| Format: | Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/02/25918945/networked-carbon-markets-key-elements-mitigation-value-assessment-process http://hdl.handle.net/10986/23812 |
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okr-10986-23812 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
GLOBAL WARMING POTENTIAL CERTIFIED EMISSION REDUCTIONS AUCTION EMISSION ALLOWANCES MARKET CAP REGIONAL GREENHOUSE GAS INITIATIVE PLEDGES WITHDRAWAL VISIBILITY LIABILITY BASES SULPHUR DIOXIDE ACCOUNTING TEMPERATURE CARBON DIOXIDE CALCULATION STOCK INTEREST CARBON FOREIGN EXCHANGE MARKET LEVELS OF EMISSIONS EXCHANGE LIQUIDITY EMISSIONS INTERNATIONAL EMISSIONS CREDIT RATING AGENCIES PAPER INSTRUMENTS CARBON MARKETS MORTGAGE ATMOSPHERE DEFAULT RISK EMISSION REDUCTION GHGS CREDITWORTHINESS GAS PROBABILITY OF DEFAULT BORROWERS GREENHOUSE GAS EMISSION MARGINAL ABATEMENT RESERVE EMISSION REDUCTIONS MONTREAL PROTOCOL AIR GREENHOUSE GAS INSTRUMENTS BUDGET MARKET PARTICIPANTS CENTRAL BANK CONVERSION EMISSION CAP LIQUID MARKETS CARBON ALLOWANCES MARKET LIQUIDITY CO2 MORTGAGES CREDIT RATINGS CURRENCY MARKET REGULATOR CAPACITY MARKET MAKERS CONTRACTS GHG GOLD EXCHANGE RATES TRADING OPTIONS GLOBAL WARMING MONETARY FUND FUEL SUBSTITUTION CONVENTION ON CLIMATE CHANGE MARKETS DEBT PRIVATE INVESTMENT MARKET MAKER SETTLEMENT EMISSION LIMITATION EMISSIONS MITIGATION CARBON POLICIES EMISSION TRADING GAS EMISSIONS ASSET CLASSES INVENTORY FINANCIAL SYSTEM ABATEMENT COST FINANCE GREENHOUSE GASES CARBON EMISSIONS BROKERS EMISSIONS REDUCTIONS SULPHUR TRANSACTIONS INVESTMENT BANKS INTERNATIONAL STANDARDS TRANSACTION INVESTORS GREENHOUSE GAS EMISSION REDUCTIONS GREENHOUSE EMISSION SOVEREIGN DEBT CARBON UNITS LEAD FRAUD FUNGIBLE IPCC CLIMATE CHANGE TRANSPARENCY CARBON TRADING FINANCIAL CRISIS CORPORATE BORROWERS CONFLICTS OF INTEREST CLIMATE EMISSIONS PROFILE GWP FINANCIAL INSTRUMENTS BOND MARKET FINANCIAL INSTRUMENT GLOBAL EMISSION CONTRACT CLIMATE SYSTEM CARBON PRICE CLIMATE CHANGE MITIGATION EMISSION FACTORS ISSUANCE MARGINAL ABATEMENT COST GLOBAL EMISSIONS MARKET DEFAULT CREDIT RATING ANNUAL EMISSIONS FOREIGN EXCHANGE GLOBAL CLIMATE CHANGE ANTHROPOGENIC EMISSIONS SECURITIES LEVY GAS EMISSION REGULATORY OVERSIGHT CURRENCIES CREDIT RATING AGENCY TAX CREDITS TRADING SYSTEM MARKET SHARE LEGAL SYSTEM FINANCIAL MARKET STOCK EXCHANGE INVESTMENT GREENHOUSE GAS INITIATIVE BOND SHARE FINANCIAL MARKETS TREATY INTERNATIONAL TRANSACTION CARBON MARKET RAIN LOW-CARBON PROFIT SO2 PUBLIC SECTOR DEBT INSTRUMENT EXCHANGE RATE CARBON TAX ACID RAIN GASES ACID FRAMEWORK CONVENTION ON CLIMATE CHANGE EMISSIONS SCENARIO INTERNATIONAL SETTLEMENTS CARBON EMISSION PRICES GUARANTEE CONSUMER PROTECTION BENEFITS BACKED SECURITIES ENERGY |
| spellingShingle |
GLOBAL WARMING POTENTIAL CERTIFIED EMISSION REDUCTIONS AUCTION EMISSION ALLOWANCES MARKET CAP REGIONAL GREENHOUSE GAS INITIATIVE PLEDGES WITHDRAWAL VISIBILITY LIABILITY BASES SULPHUR DIOXIDE ACCOUNTING TEMPERATURE CARBON DIOXIDE CALCULATION STOCK INTEREST CARBON FOREIGN EXCHANGE MARKET LEVELS OF EMISSIONS EXCHANGE LIQUIDITY EMISSIONS INTERNATIONAL EMISSIONS CREDIT RATING AGENCIES PAPER INSTRUMENTS CARBON MARKETS MORTGAGE ATMOSPHERE DEFAULT RISK EMISSION REDUCTION GHGS CREDITWORTHINESS GAS PROBABILITY OF DEFAULT BORROWERS GREENHOUSE GAS EMISSION MARGINAL ABATEMENT RESERVE EMISSION REDUCTIONS MONTREAL PROTOCOL AIR GREENHOUSE GAS INSTRUMENTS BUDGET MARKET PARTICIPANTS CENTRAL BANK CONVERSION EMISSION CAP LIQUID MARKETS CARBON ALLOWANCES MARKET LIQUIDITY CO2 MORTGAGES CREDIT RATINGS CURRENCY MARKET REGULATOR CAPACITY MARKET MAKERS CONTRACTS GHG GOLD EXCHANGE RATES TRADING OPTIONS GLOBAL WARMING MONETARY FUND FUEL SUBSTITUTION CONVENTION ON CLIMATE CHANGE MARKETS DEBT PRIVATE INVESTMENT MARKET MAKER SETTLEMENT EMISSION LIMITATION EMISSIONS MITIGATION CARBON POLICIES EMISSION TRADING GAS EMISSIONS ASSET CLASSES INVENTORY FINANCIAL SYSTEM ABATEMENT COST FINANCE GREENHOUSE GASES CARBON EMISSIONS BROKERS EMISSIONS REDUCTIONS SULPHUR TRANSACTIONS INVESTMENT BANKS INTERNATIONAL STANDARDS TRANSACTION INVESTORS GREENHOUSE GAS EMISSION REDUCTIONS GREENHOUSE EMISSION SOVEREIGN DEBT CARBON UNITS LEAD FRAUD FUNGIBLE IPCC CLIMATE CHANGE TRANSPARENCY CARBON TRADING FINANCIAL CRISIS CORPORATE BORROWERS CONFLICTS OF INTEREST CLIMATE EMISSIONS PROFILE GWP FINANCIAL INSTRUMENTS BOND MARKET FINANCIAL INSTRUMENT GLOBAL EMISSION CONTRACT CLIMATE SYSTEM CARBON PRICE CLIMATE CHANGE MITIGATION EMISSION FACTORS ISSUANCE MARGINAL ABATEMENT COST GLOBAL EMISSIONS MARKET DEFAULT CREDIT RATING ANNUAL EMISSIONS FOREIGN EXCHANGE GLOBAL CLIMATE CHANGE ANTHROPOGENIC EMISSIONS SECURITIES LEVY GAS EMISSION REGULATORY OVERSIGHT CURRENCIES CREDIT RATING AGENCY TAX CREDITS TRADING SYSTEM MARKET SHARE LEGAL SYSTEM FINANCIAL MARKET STOCK EXCHANGE INVESTMENT GREENHOUSE GAS INITIATIVE BOND SHARE FINANCIAL MARKETS TREATY INTERNATIONAL TRANSACTION CARBON MARKET RAIN LOW-CARBON PROFIT SO2 PUBLIC SECTOR DEBT INSTRUMENT EXCHANGE RATE CARBON TAX ACID RAIN GASES ACID FRAMEWORK CONVENTION ON CLIMATE CHANGE EMISSIONS SCENARIO INTERNATIONAL SETTLEMENTS CARBON EMISSION PRICES GUARANTEE CONSUMER PROTECTION BENEFITS BACKED SECURITIES ENERGY Macinante, Justin Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process |
| description |
This paper builds on the findings of an
earlier unpublished discussion paper titled ‘designing a
model for networked carbon markets’, with its objective
being to describe key elements of the mitigation value
assessment process. The outcome of this paper will inform a
model for the Networked Carbon Markets concept, to be
prepared at a later date. The following section two
acknowledges the subject matter of the NCM initiative,
namely the diverse and heterogeneous trading schemes and
other carbon pricing mechanisms that are being put in place
by jurisdictions around the globe. As this is the subject of
another World Bank paper, only a brief reference is
included. Section three sets out a conceptual framework
within which to consider the key elements described in the
glossary of terms, addressed in section four and annexure
‘C’. This section also looks at different transaction
scenarios, introducing the concepts of an international
transaction unit and an index. Section five turns attention
to the types of institutions that might be suitable to
participate in the mitigation value assessment process,
providing practical examples, and considering the types of
expertise and tools those institutions might leverage.
Section six considers options for regulatory supervision of
the MV assessment process. Section seven looks in more
detail at the relationship between mitigation value and the
compliance value that might be attached to carbon assets
and, in so doing, considers the role and function of the
settlement platform. This section also considers the
feasibility and potential benefits of an index. The
concluding section eight looks at the next steps that might
flow from this work. |
| format |
Working Paper |
| author |
Macinante, Justin |
| author_facet |
Macinante, Justin |
| author_sort |
Macinante, Justin |
| title |
Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process |
| title_short |
Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process |
| title_full |
Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process |
| title_fullStr |
Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process |
| title_full_unstemmed |
Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process |
| title_sort |
networked carbon markets : key elements of the mitigation value assessment process |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/02/25918945/networked-carbon-markets-key-elements-mitigation-value-assessment-process http://hdl.handle.net/10986/23812 |
| _version_ |
1764454949779931136 |
| spelling |
okr-10986-238122021-04-23T14:04:17Z Networked Carbon Markets : Key Elements of the Mitigation Value Assessment Process Macinante, Justin GLOBAL WARMING POTENTIAL CERTIFIED EMISSION REDUCTIONS AUCTION EMISSION ALLOWANCES MARKET CAP REGIONAL GREENHOUSE GAS INITIATIVE PLEDGES WITHDRAWAL VISIBILITY LIABILITY BASES SULPHUR DIOXIDE ACCOUNTING TEMPERATURE CARBON DIOXIDE CALCULATION STOCK INTEREST CARBON FOREIGN EXCHANGE MARKET LEVELS OF EMISSIONS EXCHANGE LIQUIDITY EMISSIONS INTERNATIONAL EMISSIONS CREDIT RATING AGENCIES PAPER INSTRUMENTS CARBON MARKETS MORTGAGE ATMOSPHERE DEFAULT RISK EMISSION REDUCTION GHGS CREDITWORTHINESS GAS PROBABILITY OF DEFAULT BORROWERS GREENHOUSE GAS EMISSION MARGINAL ABATEMENT RESERVE EMISSION REDUCTIONS MONTREAL PROTOCOL AIR GREENHOUSE GAS INSTRUMENTS BUDGET MARKET PARTICIPANTS CENTRAL BANK CONVERSION EMISSION CAP LIQUID MARKETS CARBON ALLOWANCES MARKET LIQUIDITY CO2 MORTGAGES CREDIT RATINGS CURRENCY MARKET REGULATOR CAPACITY MARKET MAKERS CONTRACTS GHG GOLD EXCHANGE RATES TRADING OPTIONS GLOBAL WARMING MONETARY FUND FUEL SUBSTITUTION CONVENTION ON CLIMATE CHANGE MARKETS DEBT PRIVATE INVESTMENT MARKET MAKER SETTLEMENT EMISSION LIMITATION EMISSIONS MITIGATION CARBON POLICIES EMISSION TRADING GAS EMISSIONS ASSET CLASSES INVENTORY FINANCIAL SYSTEM ABATEMENT COST FINANCE GREENHOUSE GASES CARBON EMISSIONS BROKERS EMISSIONS REDUCTIONS SULPHUR TRANSACTIONS INVESTMENT BANKS INTERNATIONAL STANDARDS TRANSACTION INVESTORS GREENHOUSE GAS EMISSION REDUCTIONS GREENHOUSE EMISSION SOVEREIGN DEBT CARBON UNITS LEAD FRAUD FUNGIBLE IPCC CLIMATE CHANGE TRANSPARENCY CARBON TRADING FINANCIAL CRISIS CORPORATE BORROWERS CONFLICTS OF INTEREST CLIMATE EMISSIONS PROFILE GWP FINANCIAL INSTRUMENTS BOND MARKET FINANCIAL INSTRUMENT GLOBAL EMISSION CONTRACT CLIMATE SYSTEM CARBON PRICE CLIMATE CHANGE MITIGATION EMISSION FACTORS ISSUANCE MARGINAL ABATEMENT COST GLOBAL EMISSIONS MARKET DEFAULT CREDIT RATING ANNUAL EMISSIONS FOREIGN EXCHANGE GLOBAL CLIMATE CHANGE ANTHROPOGENIC EMISSIONS SECURITIES LEVY GAS EMISSION REGULATORY OVERSIGHT CURRENCIES CREDIT RATING AGENCY TAX CREDITS TRADING SYSTEM MARKET SHARE LEGAL SYSTEM FINANCIAL MARKET STOCK EXCHANGE INVESTMENT GREENHOUSE GAS INITIATIVE BOND SHARE FINANCIAL MARKETS TREATY INTERNATIONAL TRANSACTION CARBON MARKET RAIN LOW-CARBON PROFIT SO2 PUBLIC SECTOR DEBT INSTRUMENT EXCHANGE RATE CARBON TAX ACID RAIN GASES ACID FRAMEWORK CONVENTION ON CLIMATE CHANGE EMISSIONS SCENARIO INTERNATIONAL SETTLEMENTS CARBON EMISSION PRICES GUARANTEE CONSUMER PROTECTION BENEFITS BACKED SECURITIES ENERGY This paper builds on the findings of an earlier unpublished discussion paper titled ‘designing a model for networked carbon markets’, with its objective being to describe key elements of the mitigation value assessment process. The outcome of this paper will inform a model for the Networked Carbon Markets concept, to be prepared at a later date. The following section two acknowledges the subject matter of the NCM initiative, namely the diverse and heterogeneous trading schemes and other carbon pricing mechanisms that are being put in place by jurisdictions around the globe. As this is the subject of another World Bank paper, only a brief reference is included. Section three sets out a conceptual framework within which to consider the key elements described in the glossary of terms, addressed in section four and annexure ‘C’. This section also looks at different transaction scenarios, introducing the concepts of an international transaction unit and an index. Section five turns attention to the types of institutions that might be suitable to participate in the mitigation value assessment process, providing practical examples, and considering the types of expertise and tools those institutions might leverage. Section six considers options for regulatory supervision of the MV assessment process. Section seven looks in more detail at the relationship between mitigation value and the compliance value that might be attached to carbon assets and, in so doing, considers the role and function of the settlement platform. This section also considers the feasibility and potential benefits of an index. The concluding section eight looks at the next steps that might flow from this work. 2016-03-02T17:23:39Z 2016-03-02T17:23:39Z 2015-10 Working Paper http://documents.worldbank.org/curated/en/2016/02/25918945/networked-carbon-markets-key-elements-mitigation-value-assessment-process http://hdl.handle.net/10986/23812 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper |