• Title/Summary/Keyword: Carbon market

Search Result 282, Processing Time 0.026 seconds

An Empirical Study on Price discovery between Emission Spot and Futures Markets in EU ETS Emission Markets (EU ETS 탄소시장에서 EUA 선물의 가격발견에 관한 연구)

  • Kim, Soo-Kyung
    • Management & Information Systems Review
    • /
    • v.33 no.3
    • /
    • pp.93-104
    • /
    • 2014
  • This study investigates price discovery between BlueNext spot and futures in EU ETS carbon emission markets using vector error correction model, GG and Hasbruck information ratio. Especially EUA is European Union Allowances traded on the Emissions Trading Scheme. This emission asset attracts and increasing attention among operators, investors and brokers on emission markets. In this study, we found BlueNext spot and EUA futures market are cointegrated. Following the preceding studies, we judged that EUA futures market contribute to the price discovery process than BlueNext spot market when this GG and Hasbrouck information ratio for BlueNext market are larger than 0.5. In other words, the futures market of EUA plays a more dominant role in price discovery than the spot market.

  • PDF

Korean Application Plans for International Carbon Markets by Coping with the Paris Agreement (Post-2020 파리협정 대응 한국의 국제탄소시장 활용방안)

  • Lho, Sangwhan
    • Journal of Climate Change Research
    • /
    • v.9 no.1
    • /
    • pp.91-102
    • /
    • 2018
  • The Korean government submitted the Intended Nationally Determined Contributions (INDC) to UNFCCC which aims to reduce 37% greenhouse gas emission for the opportunity of developing new energy industry and industry innovation by 2030 compared with Business-As-Usual scenario taking into account its international responsibilities and hosting headquarters of Green Climate Fund (GCF) secretariat. The 37% reduction is composed of 25.7% in the domestic markets and 11.3% in the international carbon markets. To achieve the reduction target in the international carbon market mechanisms, it must use the linkage of international carbon markets and develop new renewable energy technology for CDM and ODA. Finally, it must improve carbon capture storage (CCS) technology and establish domestic CCS institutional systems as soon as possible. And, it must activate CCS information exchange for the international cooperation on UNFCCC movement.

Thermostable Adsorption Filter Immobilized with Super Activated Carbons by Quinoline Soluble Isotropic Pitch Binder (I-a Novel Adsorption Filter)

  • Park, Yeong-Tae;Im, Chul-Gyou;Kim, Yeong-Tae;Rhee, Bo-Sung
    • Carbon letters
    • /
    • v.10 no.3
    • /
    • pp.198-201
    • /
    • 2009
  • Among other filters such as light filter, wave filter, air filter, ultra filter and filter paper, a novel adsorption filter from thermostable polyester nonwoven fabrics immobilized with functional super activated carbon by means of quinoline soluble, activateable isotropic pitch binder were developed in this study. The activated carbon precursor is available in the market branded as coconut shell based activated carbon(CCS-AC) produced by Dongyang Carbon Co. Ltd. BET-surface area of this precursor was $1,355\;m^2/g$, after KOH-activation it increased over $2,970\;m^2/g$ and was named as super activated carbon. In the preliminary research, this precursor was impregnated with $PdCl_2$(0.188 wt%) $KMnO_4$(3 wt%) and redox-agent(CuCl2, 0.577 wt%) in order to promote TOF up to 100/h and Selectivity up 99% and patented as a functional AC for the ethylene adsorption. The enhancement of the isotropic pitch binder to the AC-immobilized adsorption filter was BET-surface area upgraded by $266\;m^2/g$ and promoted the Iodine- and MB-adsorption by 1.4 times, respectively and also micro pore wide ranges < $5{\AA}{\sim}30\;{\AA}$ >.

Estimation of carbon storage in coastal wetlands and comparison of different management schemes in South Korea

  • Byun, Chaeho;Lee, Shi-Hoon;Kang, Hojeong
    • Journal of Ecology and Environment
    • /
    • v.43 no.1
    • /
    • pp.61-72
    • /
    • 2019
  • Background: Organic carbon stored in coastal wetlands, which comprises the major part of oceanic "blue carbon," is a subject of growing interest and concern. In this study, organic carbon storage in coastal wetlands and its economic value were estimated using the raw data of 25 studies related to soil carbon storage. Data were collected from three tidal flats (one protected and two developed areas) and two estuarine salt marshes (one protected and one restored area). Bulk density, soil organic matter content, and standing biomass of vegetation were all considered, with Monte Carlo simulation applied to estimate the uncertainty. Results: Mean carbon storage in two salt marshes ranged between 14.6 and $25.5kg\;C\;m^{-2}$. Mean carbon storage in tidal flats ranged from 18.2 to $28.6kg\;C\;m^{-2}$, with variability possibly related to soil texture. The economic value of stored carbon was estimated by comparison with the price of carbon in the emission trading market. The value of US $ $6600\;ha^{-1}$ is ~ 45% of previously estimated ecosystem services from fishery production and water purification functions in coastal areas. Conclusions: Although our study sites do not cover all types of large marine ecosystem, this study highlights the substantial contribution of coastal wetlands as carbon sinks and the importance of conserving these habitats to maximize their ecosystem services.

Study on the Risk Management of the CERs Investment - Regarding Registration Risks and Price Change Risk in Investing Primary CERs - (탄소배출권 투자와 위험관리방안 연구 - 일차배출권(Primary CER) 투자 시 등록위험 및 가격변동 위험을 중심으로 -)

  • Lee, Chang Seok;Kim, Yun Soung;Jeon, Eui Chan
    • Journal of Climate Change Research
    • /
    • v.2 no.2
    • /
    • pp.115-131
    • /
    • 2011
  • Out of all the possible actions that can be taken to respond to greenhouse gas reduction, including development of greenhouse gas reduction technology, infrastructure, actions to improve energy saving and efficiency, and offset with carbon emission reductions (CERs), this study shall focus on the investment on CERs. This study will take a look at risks involved with investing in CERs such as UN registration refusal risk and CERs price fluctuation, and will design risk management model which shall be verified. The goal of this paper is to provide optimized CERs investment strategies for different types of investors, such as general trading companies seeking for investment opportunities and financial companies with plans for green products development and investment by preparation for carbon market. It is expected that the global competitiveness of domestic financial companies shall be improved by taking actions on carbon market instead of previous passive response to climate change and that Korea, the number two Carbon Emissions supplier and number one derivatives market in terms of volume, shall be able to lead the worldwide carbon market.

Optimal Carbon Upcycling Technology Selection Method Considering Technology and Market (기술 및 시장을 고려한 최적 탄소자원화 기술 선정방법)

  • Ji Hyun Lee;Seong Jegarl;Jieun Jo
    • New & Renewable Energy
    • /
    • v.19 no.1
    • /
    • pp.41-52
    • /
    • 2023
  • Various carbon upcycling technologies have been proposed and are under development to achieve Korea's carbon neutrality target. Many chemical reactions are under development through various chemical reaction pathways, and different technological maturity levels are shown for each country and company. In this situation, it is essential to establish investment decisions such as research funds and human resources allocation through technological and economic analysis for close commercialization technologies and basic technologies with low technology readiness levels (TRL). Therefore, in this study, the technology development priority for developing carbon upcycling items was selected according to the domestic Carbon Capture & Utilization (CCU) technology roadmap using the stakeholder selection tool released by EU CarbonNext. As a result of the analysis, the TRL level of Korea's major carbon upcycling technologies was analyzed to be lower than that of other carbon resource technologies, and it was considered desirable to invest in mineral carbonization technologies among various candidate technologies.

Analysis of Life Cycle Assessment of Renovation Building Through Case Study (리모델링 건축물의 전과정 탄소배출량 사례 평가 분석)

  • Lim, Hyojin;Jang, Hyeongjae;Tae, Sungho
    • Proceedings of the Korean Institute of Building Construction Conference
    • /
    • 2022.04a
    • /
    • pp.47-48
    • /
    • 2022
  • In Korea, construction and development has been continued rapidly since the 1970s, and the reconstruction and renovation market has recently been activated to improve old buildings. Most of the environmental evaluation of reconstruction and renovation projects is focused on the use of operating energy, and It is necessary to analyze carbon emissions throughout the life cycle for a comprehensive evaluation of reconstruction and remodeling projects. Therefore, this study quantitatively predicted carbon emissions from reconstruction and renovation based on ISO 14040s through case analysis for the purpose of evaluating the carbon emissions of renovated buildings from the perspective of the whole life cycle. In additional, the amount of carbon savings of each was analyzed through comparison with existing building.

  • PDF

Analysis of Forestry Carbon Offset Credits Using Project Design Documents (산림탄소상쇄 사업계획서를 이용한 산림탄소 배출권 분석)

  • Park, Jin Taek;Cho, Yongsung;Jang, Jin Koo
    • Journal of Climate Change Research
    • /
    • v.7 no.2
    • /
    • pp.185-191
    • /
    • 2016
  • Since 2013, the forest carbon offest scheme is operated by 'ACT ON THE MANAGEMENT AND IMPROVEMENT OF CARBON SINK'. Most of projects account for afforestation, reforestation and restoration. This study analyzed what is affected to pricing factors for the registered 71 project of forest carbon offset in Korea Forest Service. The purpose of this study is to introduce information on the business plans of forest carbon offset scheme and aid to understand the process from registration to issuing offset credits. Also it is meaningful to proposing a policy for price competitiveness and how to enable forest carbon offset schemes to produce activation by measuring the factors that affect the forest carbon offset scheme. The results showed forest carbon credit price is 92,827 won per ton on average, it could see less price-competitive than emission rights market when compared with the price.

Single Manufacturer and Multiple Retailers Multi-Product Inventory Model under Cap-and-Trade Mechanism (배출권거래제 하에서 단일 제조업자-다소매업자의 공급사슬에서 다품목의 재고모형)

  • Kim, Dae-Hong
    • Journal of Korean Society of Industrial and Systems Engineering
    • /
    • v.42 no.1
    • /
    • pp.158-166
    • /
    • 2019
  • In pursuing carbon emission reduction efforts, companies have focused for the most part on reducing emissions due to the more efficient equipment and facilities. However they overlook a significant source of carbon emissions, one that is driven by operational policies. Currently companies are looking for solutions to reduce carbon emissions associated with their operations. Operational adjustments, such as modifications in order quantities could an effective way in reducing carbon emissions in the supply chain. Also, Cap-and-Trade mechanism is generally accepted as on of the most effective market-based mechanism to reduce carbon emissions. In this paper, we investigate a supply chain with single manufacturer and multiple retailers multi-product inventory model under the cap-and-trade system incorporating the carbon emissions caused by transportation and warehousing activities. Also, we provide an iterative solution algorithm and derive the common order interval and the number of intervals for each product. We show by numerical example that the inventory model incorporating cap & trade mechanism can reduce total cost and carbon emissions compared to the classical inventory model. Using the numerical examples, we also investigates different carbon price on the performance of the inventory model.

An Analysis of Dynamic Conditional Correlation among International Carbon Emission Trading Prices (국제 탄소배출권 가격의 동태적 조건부 상관관계 분석)

  • Dan-Dan Luo;Yin-Hua Li
    • Korea Trade Review
    • /
    • v.47 no.1
    • /
    • pp.99-114
    • /
    • 2022
  • This paper analyzed the dynamic conditional correlation between the carbon emission trading prices of Korea, China, EU, New Zealand. This paper was analyzed using the daily data of carbon emission trading prices of each country from January 12, 2015 to January 13, 2021 using the DCC-GARCH model. Summarizing the research results, first, the dynamic conditional correlation between carbon emission trading prices in the EU, Korea, and China, excluding New Zealand, was strong, indicating that there was a co-movement phenomenon. Second, it was found that carbon emission trading prices in major countries have a stronger tendency to co-movement due to global shocks. Third, it appears that the dynamic conditional correlation between the carbon emission trading prices of Korea and China is gradually strengthening. This study confirmed that the co-movement between carbon emission trading prices in Korea and other countries gradually intensified as time passed. In particular, it is meaningful in suggesting the implication that the phenomenon of co-movement between carbon emission trading prices in Korea and China is gradually intensifying.