A quantitative approach to carbon price risk modeling
نویسندگان
چکیده
The climate change discussion in the framework of the Kyoto protocol has clearly emphasized the need for reliable methods to value projects targeted on reduction of greenhouse gases. Moreover, the recent carbon price development in the mandatory EU Emission Trading Scheme exhibits the insisting importance of accurate risk management when business is exposed to greenhouse gas emissions. In this work we suggest a model for price formation of carbon emission rights.
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