Willingness to pay for gold standard carbon credits

Piya Parnphumeesup, Sandy Kerr

Research output: Contribution to journalArticle

4 Citations (Scopus)
116 Downloads (Pure)

Abstract

It is increasingly clear that carbon credits generated by clean development mechanism (CDM) projects do not all deliver the same sustainable development (SD) benefits, as intended by the Kyoto Protocol. Independent certification of has now been developed to meet the needs of buyers searching for carbon credit with high SD benefits. This paper use the contingent valuation method (CVM) to better understand the buyers’ valuation of the SD benefits of CDM projects through their willingness to pay (WTP) a price premium for carbon credits with Gold Scandard (GS) certificationscheme. This study finds that 56.4% of the buyers are willing to pay a price premium for GS carbon credits. The cCharity groups and the governments group have more likely to place a proice premium on cerified credite than private sector buyers. a greater percentage of the “yes” WTP responses than the private group. On average, buyers are willing to pay a price premium of €1.12 per tonne of CO2e for GS carbon credit in recognition of SD benefits.
Original languageEnglish
Pages (from-to)412-417
Number of pages5
JournalEnergy Sources, Part B: Economics, Planning and Policy
Volume10
Issue number4
Early online date12 Jan 2015
DOIs
Publication statusPublished - 2015

Keywords

  • carbon credit, clean development mechanism, contingent valuation, sustainable development, willingness to pay

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