Energy transition: Cap-and-trade and carbon capture and storage for achieving net-zero emissions with sustainable insurance

doi:10.1016/j.jenvman.2024.121902

淡江大學機構典藏 > 商管學院 > 國際企業學系暨研究所 > 期刊論文 > Item 987654321/125871

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題名:	Energy transition: Cap-and-trade and carbon capture and storage for achieving net-zero emissions with sustainable insurance
作者:	Lin, Jyh-horng
關鍵詞:	Cap-and-trade Carbon capture and storage Energy transition Net-zero emissions Sustainable insurance
日期:	2024-07-20
上傳時間:	2024-08-07 12:05:49 (UTC+8)
出版者:	Journal of Environmental Management
摘要:	This paper introduces an energy transition model featuring a carbon-intensive manufacturer that adopts sustainable insurance, participates in a cap-and-trade scheme, and implements carbon capture and storage (CCS) transit, all aimed at achieving the net-zero carbon emission target. The model utilizes a down-and-out call (DOC) approach to evaluate the manufacturer’s equity, considering the bankruptcy risk prior to maturity due to carbon intensity. The equity of the life insurer providing funds is assessed using a capped DOC method to address the capped credit risk from the manufacturer. The findings reveal that increased adoption of CCS transit diminishes manufacturer equity, heightens default risk, and reduces insurer equity, with these effects exacerbated by advanced CCS technology and stringent cap-and-trade caps. Both stringent cap-and-trade schemes and rapid advancements in CCS transit practices, particularly with the use of advanced CCS technology, deviate from the net-zero target. A critical policy implication is the necessity for the precise calibration of cap-and-trade schemes and the pace of CCS transit adoption to ensure alignment with net-zero targets.
關聯:	Journal of Environmental Management 366,　121902
DOI:	10.1016/j.jenvman.2024.121902
顯示於類別:	[國際企業學系暨研究所] 期刊論文

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