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The Global ETD Search service is a free service for researchers
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Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
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Showing 1 to 6 of 6 (0.149 seconds)| 1 |
Options Based on CO<sub>2</sub> Emissions : A Comparison with Traditional OptionsNilsson, Martin, Kristiansson, Gustaf January 2009 (has links)
<p>Abstract</p><p>Title: Options Based on CO2 Emissions: A Comparison with Traditional Options</p><p>Seminar date: 2009-06-17</p><p>Course: Bachelor thesis in business administration, 15 ECTS</p><p>Authors: Gustaf Kristiansson, Martin Nilsson</p><p>Instructor: Bengt Kjellgren</p><p>Key words: Black & Scholes, Certified Emission Reductions, emission markets, European Union Allowances, options, pricing</p><p>Purpose: This study intends to compare traditional options with the CO2 based instruments EUAs and CERs options in the fields of pricing, cap and trade, political influence, economical effects and market function.</p><p>Methodology: A combined research methodology is used in this study, which includes both a quantitative and a qualitative approach. A deductive research approach is brought out over the whole study.</p><p>Theoretical perspectives: The theoretical framework is based upon previous empirical research concerning the fields in this study. The Black & Scholes formula for option pricing has a central position.</p><p>Empirical foundation: Market data has been used to analyse the field of pricing. Interviews have been conducted with actors on the European emission trading market for a further understanding of cap and trade, political influence, economical effects and market function.</p><p>Conclusions: We have in this research identified that the CO2 based market differs from the financial market when it comes to political decisions and price fluctuation. We have also identified that the CO2 based market is not mature enough for a complete internationalisation.</p> / En formell presentation utfördes ej pga utlandsstudier.
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Options Based on CO2 Emissions : A Comparison with Traditional OptionsNilsson, Martin, Kristiansson, Gustaf January 2009 (has links)
Abstract Title: Options Based on CO2 Emissions: A Comparison with Traditional Options Seminar date: 2009-06-17 Course: Bachelor thesis in business administration, 15 ECTS Authors: Gustaf Kristiansson, Martin Nilsson Instructor: Bengt Kjellgren Key words: Black & Scholes, Certified Emission Reductions, emission markets, European Union Allowances, options, pricing Purpose: This study intends to compare traditional options with the CO2 based instruments EUAs and CERs options in the fields of pricing, cap and trade, political influence, economical effects and market function. Methodology: A combined research methodology is used in this study, which includes both a quantitative and a qualitative approach. A deductive research approach is brought out over the whole study. Theoretical perspectives: The theoretical framework is based upon previous empirical research concerning the fields in this study. The Black & Scholes formula for option pricing has a central position. Empirical foundation: Market data has been used to analyse the field of pricing. Interviews have been conducted with actors on the European emission trading market for a further understanding of cap and trade, political influence, economical effects and market function. Conclusions: We have in this research identified that the CO2 based market differs from the financial market when it comes to political decisions and price fluctuation. We have also identified that the CO2 based market is not mature enough for a complete internationalisation. / En formell presentation utfördes ej pga utlandsstudier.
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Reformation of the CDM (clean development mechanism) for sustainable development in least developed countries : focusing on a case study of the Grameen Shakti program in BangladeshHwang, Jinsol 06 January 2011 (has links)
The threat of global warming is bringing a new pro-environmental paradigm all over the world under the Kyoto Protocol. Addressing climate change is beneficial to all countries because environment is global public good. However, because global warming is also closely related to each country’s specific condition such as industrial development and political situation, prudent approaches considering different situations of each country are required in order prevent unintended negative consequences.
This study focuses on the weakness of the current CDM (Clean Development Mechanism) in terms of impeding sustainable development in LDCs (Least Development Countries). As a case study, the Grameen Shakti Program in Bangladesh demonstrates the potential scenario of sustainable development in LDCs through CDM markets and a new financial model of CERs (Certified Emissions Reductions) is suggested to support and replicate the Grameen Shakti Program other LDCs. / text
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A unique energy-efficiency-investment-decision-model for energy services companies / Gerhardus Derk BoltBolt, Gerhardus Derk January 2008 (has links)
To remain competitive in an environment with limited natural resources and ever-increasing
operational costs, energy efficiency cannot be ignored. From this perspective the need for
Energy Service Companies (ESCos) has arisen to address the supply constraint of national
utilities and emission reductions faced by governments, to mitigate climate change. This has
led to the development of two energy-efficiency finance business applications in South
Africa, namely Demand-Side Management (DSM) under Eskom and the Clean Development
Mechanism (CDM) under the Kyoto Protocol.
The technologies developed by ESCos, primarily for DSM energy efficiency projects, can be
directly applied to generate Certified Emission Reduction (CERs) units, or carbon credits
under the CDM business model. ESCo executives now need to decide which option will be
more profitable; a once-off Rand/MW value from Eskom-DSM or an annual return on
investment (ROI) from selling CERs over an extended crediting period. With a volatile CER
price and bureaucratic registration procedures, it is very important that managers have all the
right information at hand before making such decisions.
A unique energy-efficiency investment decision model is developed that incorporates cost
benefit analysis, based on the ESCos chosen risk profile. All attributes to the model of both DSM and CDM are defined, discussed and quantified into a decision analysis framework that
would minimize risk and maximize profit. These attributes include life cycle analysis,
technology transfer, cash flow, future CER prices, and associated project and political risks.
The literature and background information that builds up to the development of this decision
model serves as a complete handbook with guidelines to the South African energy services
industry and investors.
This study proposes a new energy-efficiency methodology under the United Nations
Framework Convention on Climate Change (UNFCCC) that would increase the amount of
CDM energy efficiency projects in South Africa and internationally. The methodology is
designed to improve control system efficiency of any large electricity consumer instead of
being equipment-specific. This implies that developers can use the same methodology
regardless of whether the end-users are clear water pumping systems, compressed air
systems, fans etc. This will reduce the cost of registering new methodologies with the
UNFCCC and make CDM a more lucrative option to ESCos and other developers.
This new energy-efficiency methodology and finance decision model was used in a case
study to test its validity and accuracy. Two supporting technologies, REMS-CARBON and
OSIMS, were developed in conjunction with HVAC International and tested at the clear
water pumping system of Kopanang gold mine. The results from the case study demonstrated
that this model is an acceptable tool in ensuring that ESCos gain maximum benefit from
energy efficiency finance initiatives.
Due to the experience gained with the modalities, procedures and pitfalls of DSM and CDM,
further suggestions are made for new protocols to follow the Kyoto Protocol post-2012.
South Africa and specifically ESCos could be very well positioned in a global “cap-andtrade”
future carbon market. / PhD (Mechanical Engineering), North-West University, Potchefstroom Campus, 2009
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A unique energy-efficiency-investment-decision-model for energy services companies / Gerhardus Derk BoltBolt, Gerhardus Derk January 2008 (has links)
To remain competitive in an environment with limited natural resources and ever-increasing
operational costs, energy efficiency cannot be ignored. From this perspective the need for
Energy Service Companies (ESCos) has arisen to address the supply constraint of national
utilities and emission reductions faced by governments, to mitigate climate change. This has
led to the development of two energy-efficiency finance business applications in South
Africa, namely Demand-Side Management (DSM) under Eskom and the Clean Development
Mechanism (CDM) under the Kyoto Protocol.
The technologies developed by ESCos, primarily for DSM energy efficiency projects, can be
directly applied to generate Certified Emission Reduction (CERs) units, or carbon credits
under the CDM business model. ESCo executives now need to decide which option will be
more profitable; a once-off Rand/MW value from Eskom-DSM or an annual return on
investment (ROI) from selling CERs over an extended crediting period. With a volatile CER
price and bureaucratic registration procedures, it is very important that managers have all the
right information at hand before making such decisions.
A unique energy-efficiency investment decision model is developed that incorporates cost
benefit analysis, based on the ESCos chosen risk profile. All attributes to the model of both DSM and CDM are defined, discussed and quantified into a decision analysis framework that
would minimize risk and maximize profit. These attributes include life cycle analysis,
technology transfer, cash flow, future CER prices, and associated project and political risks.
The literature and background information that builds up to the development of this decision
model serves as a complete handbook with guidelines to the South African energy services
industry and investors.
This study proposes a new energy-efficiency methodology under the United Nations
Framework Convention on Climate Change (UNFCCC) that would increase the amount of
CDM energy efficiency projects in South Africa and internationally. The methodology is
designed to improve control system efficiency of any large electricity consumer instead of
being equipment-specific. This implies that developers can use the same methodology
regardless of whether the end-users are clear water pumping systems, compressed air
systems, fans etc. This will reduce the cost of registering new methodologies with the
UNFCCC and make CDM a more lucrative option to ESCos and other developers.
This new energy-efficiency methodology and finance decision model was used in a case
study to test its validity and accuracy. Two supporting technologies, REMS-CARBON and
OSIMS, were developed in conjunction with HVAC International and tested at the clear
water pumping system of Kopanang gold mine. The results from the case study demonstrated
that this model is an acceptable tool in ensuring that ESCos gain maximum benefit from
energy efficiency finance initiatives.
Due to the experience gained with the modalities, procedures and pitfalls of DSM and CDM,
further suggestions are made for new protocols to follow the Kyoto Protocol post-2012.
South Africa and specifically ESCos could be very well positioned in a global “cap-andtrade”
future carbon market. / PhD (Mechanical Engineering), North-West University, Potchefstroom Campus, 2009
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Reasons for the Underperformance of Clean Development Mechanism Project Activities in the Animal Waste Management Sector / An Analysis of Swine Manure treating Facilities in Latin America / Ursachen des geringen Erfolgs von Abwasserbehandlungsprojekten in der Tierproduktion im Rahmen des Clean Development Mechanism / Eine Analyse von Schweineproduktionsbetrieben in LateinamerikaDeecke, Imme Dorothea 04 February 2010 (has links)
No description available.
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