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- W4362606637 abstract "Efforts to avert dangerous climate change by conserving and restoring natural habitats are hampered by widespread concerns over the credibility of methods used to quantify their net long-term benefits. We develop a novel, flexible framework for estimating the long-run social benefit of impermanent carbon credits generated by nature-based interventions which integrates three substantial advances: the conceptualisation of the permanence of a project’s impact as its additionality over time (relative to a statistically-derived counterfactual); the risk-averse estimation of the social cost of future reversals of carbon gains; and the deployment of post-credit monitoring to correct for errors in deliberately pessimistic release forecasts. Our framework generates incentives for safeguarding already-credited carbon while enabling would-be investors to make like-for-like comparisons of diverse carbon projects. Preliminary comparisons suggest that after fully adjusting for the impermanence of their effects, nature-based interventions may offer less costly ways of reducing climate damages than more technological solutions." @default.
- W4362606637 created "2023-04-06" @default.
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- W4362606637 date "2023-04-05" @default.
- W4362606637 modified "2023-10-05" @default.
- W4362606637 title "Realising the social value of impermanent carbon credits" @default.
- W4362606637 doi "https://doi.org/10.33774/coe-2023-5v93l-v2" @default.
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