Sandor Richard, Walsh Michael, Marques Rafael
Environmental Financial Products LLC, Suite 1404, 111 W. Jackson, Chicago, IL 60604, USA.
Philos Trans A Math Phys Eng Sci. 2002 Aug 15;360(1797):1889-900. doi: 10.1098/rsta.2002.1038.
This paper summarizes the extension of new market mechanisms for environmental services, explains of the importance of generating price information indicative of the cost of mitigating greenhouse gases (GHGs) and presents the rationale and objectives for pilot GHG-trading markets. It also describes the steps being taken to define and launch pilot carbon markets in North America and Europe and reviews the key issues related to incorporating carbon sequestration into an emissions-trading market. There is an emerging consensus to employ market mechanisms to help address the threat of human-induced climate changes. Carbon-trading markets are now in development around the world. A UK market is set to launch in 2002, and the European Commission has called for a 2005 launch of an European Union (EU)-wide market, and a voluntary carbon market is now in formation in North America. These markets represent an initial step in resolving a fundamental problem in defining and implementing appropriate policy actions to address climate change. Policymakers currently suffer from two major information gaps: the economic value of potential damages arising from climate changes are highly uncertain, and there is a lack of reliable information on the cost of mitigating GHGs. These twin gaps significantly reduce the quality of the climate policy debate. The Chicago Climate Exchange, for which the authors serve as lead designers, is intended to provide an organized carbon-trading market involving energy, industry and carbon sequestration in forests and farms. Trading among these diverse sectors will provide price discovery that will help clarify the cost of combating climate change when a wide range of mitigation options is employed. By closing the information gap on mitigation costs, society and policymakers will be far better prepared to identify and implement optimal policies for managing the risks associated with climate change. Establishment of practical experience in providing tradeable credits for carbon-absorbing land-use practices, especially reforestation and conservation management of agricultural soils, will also help demonstrate the viability of a new tool for financing activities that improve water quality, support biodiversity and constitute important elements of long-term sustainability in land-use management.
本文总结了环境服务新市场机制的扩展情况，解释了生成表明温室气体减排成本的价格信息的重要性，并阐述了温室气体交易试点市场的基本原理和目标。它还描述了北美和欧洲为定义和启动碳市场试点正在采取的步骤，并审视了将碳固存纳入排放交易市场的相关关键问题。人们逐渐达成共识，即采用市场机制来应对人为引起的气候变化威胁。碳交易市场目前正在全球范围内发展。英国市场定于2002年启动，欧盟委员会呼吁在2005年启动全欧盟范围的市场，北美目前正在形成一个自愿碳市场。这些市场是解决在定义和实施应对气候变化的适当政策行动方面的一个基本问题的初步举措。政策制定者目前面临两大信息空白：气候变化可能造成的潜在损害的经济价值高度不确定，而且缺乏关于温室气体减排成本的可靠信息。这两个空白严重降低了气候政策辩论的质量。作者作为主要设计者的芝加哥气候交易所旨在提供一个有组织的碳交易市场，涉及能源、工业以及森林和农场的碳固存。这些不同部门之间的交易将实现价格发现，当采用广泛的减排方案时，这将有助于厘清应对气候变化的成本。通过填补减排成本方面的信息空白，社会和政策制定者将能更好地准备好识别和实施管理与气候变化相关风险的最优政策。在为吸收碳的土地利用做法（特别是重新造林和农业土壤的养护管理）提供可交易信贷方面积累实际经验，也将有助于证明一种为改善水质、支持生物多样性以及构成土地利用管理长期可持续性重要要素的活动融资的新工具的可行性。
