에너지경제연구원 전자도서관

로그인

에너지경제연구원 전자도서관

자료검색

  1. 메인
  2. 자료검색
  3. 통합검색

통합검색

보고서(전자자료)

Firm Selection and Growth in Carbon Offset Markets: Evidence from the Clean Development Mechanism

카테고리
국외자료
개인저자
Qiaoyi Chen, Nicholas Ryan, Daniel Xu
발행기관
NBER
발행년월
2025.04
페이지수
97p
URL
요약
We study carbon offsets sold by firms in China under the Clean Development Mechanism (CDM). We find that offset-selling firms, meant to cut carbon emissions, instead increase them by 49% after starting an offset project. In a model of firm investment decisions and offset review, we estimate that CDM firms increase emissions due to both the selection of higher-growth firms into projects (35 pp) and because offset projects themselves boost firm growth and therefore emissions (14 pp). The CDM reduces global surplus by causing damages from increased emissions four times greater than private gains from trade in the offset market.