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- ItemCCS-Bonds as a superior instrument to incentivize secure carbon sequestration(Amsterdam : Elsevier, 2009) Held, Hermann; Edenhofer, OttmarGeological sequestration of CO2 on a massive scale implies that large area fractions of the underground could become flooded by CO2, imposing a unprecedented regulatory challenge to environmental authorities. Therefore we propose carbon sequestration bonds as complementary, market-based instruments that should further help to manage the risk of decadal-scale CO2 leakage. Such bond schemes address market failures that could occur if the investment behavior of operators under uncertainty differed from society’s preference. For a stylized setup we demonstrate that our bond system has the potential to simultaneously address regulatory challenges stemming from information asymmetries and diverging orders of preference.
- ItemWe need biosphere stewardship that protects carbon sinks and builds resilience(Washington, DC : National Acad. of Sciences, 2021) Rockström, Johan; Beringer, Tim; Hole, David; Griscom, Bronson; Mascia, Michael B.; Folke, Carl; Creutzig, Felix[no abstract available]