| Research Abstract |
It is always said, A gold is a gold is a gold. The objective of this research is to clarify whether it can be applied also to the GHG credit. Actually, the preference of the governments to the specific type of projects differs from each other. The credit accepted in one market is not necessarily accepted in other markets, either. Moreover, the risk and return, which accompany a project, are also different. The size of side-benefits, such as sulfur emission reduction etc., changes greatly with the projects.
At present, the difference in a price also exists and most of the GHG credits currently dealt with are forwards, and a price differs from the issued credits by existence of various risks. AAU, CER, ERU, and RMU are dealt with at a different price, respectively, and the prices of the GHG credit in different markets, such as UK, EU, and Chicago, differ greatly. In the international tender of the GHG credit by the Dutch government, purchase price differ according to a technology type.
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this background, we have performed the detailed market research using questionnaire that observed the relationship between quality and the price. As value determination factors, aside from the demand and supply, 1) production cost, 2) risks, 3) contribution to the sustainable development, 4) technology type, 5) additionality, were considered and we have analyzed each factors in detail.
Using the results of the market survey, we have created a proto-type of the method to rate the quality of the GHG credits by applying method that was originally used to judge the contribution to the sustainable development. To be more specific, first, we have identified the standardized value of the each value determination factor. Second, we have calculated the size of the premiums for these factors and identified the ranking by using the results of the questionnaire. Third, we have decided the weighing factors. Finally, we have added up numbers that lead to show the rating of the concrete CDM project's quality. Less
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