2008年-世界发展银行全球_Factors_Affecting_Levels_of_International_Cooperation_in_Carbon_Abatement_Projects_40页_236kb

Summary of "Factors Affecting Levels of International Cooperation in Carbon Abatement Projects"

Core Content

This working paper explores the factors influencing the level of international cooperation in carbon abatement projects, specifically focusing on the Clean Development Mechanism (CDM) under the Kyoto Protocol. The paper investigates how bilateral and multilateral cooperation between developed (investor) and developing (host) countries is affected by various economic, institutional, and political variables.

Main Viewpoints

• CDM as a Cooperation Mechanism: The CDM is designed to facilitate low-cost carbon abatement for developed countries while promoting sustainable development in developing countries through capital and technology flows.
• Factors Influencing Cooperation: The paper identifies several key factors that affect the level of cooperation in CDM projects:
  • Economic Development: Higher economic development in both investor and host countries is associated with increased cooperation.
  • Institutional Development: Stronger institutions and governance structures enhance the likelihood of cooperation.
  • Energy Structure: The energy mix and dependency of countries play a significant role in determining their interest in CDM projects.
  • Climate Vulnerability: Countries more vulnerable to climate change are more likely to engage in CDM projects.
  • International Relations: Better trade and political relations between countries increase the probability of cooperation.

Key Information

Variables Used to Measure Cooperation

• CDM Incidence (CDMI): A dichotomous variable indicating whether a country pair has any joint CDM projects (1) or not (0).
• Number of Projects (NPRJ): The count of joint CDM projects between a host and investor country.
• Total CO₂ Abatement: Measured in million tons of CO₂ equivalent, representing the total reduction in emissions achieved through CDM projects.
• Volume of Investment (VINV): Measured in million constant US dollars, indicating the total investment in CDM projects.

Data and Methodology

• The dataset includes all CDM projects validated by the UNFCCC up to December 31, 2007, with 2,966 projects.
• The paper excludes unilateral projects and focuses on bilateral and multilateral projects.
• Data on economic development, energy resources, climate vulnerability, governance, and trade are sourced from the World Bank and other international organizations.
• Variables are constructed using both macroeconomic and project-specific data, with a focus on the relationship between these variables and the level of cooperation.

Empirical Models

• The paper uses a Principal Component Analysis (PCA) to construct a composite governance variable (GOVR).
• Trade variables (TRD1 and TRD2) are calculated to reflect trade importance and trade dependency, respectively.
• The paper also considers transaction costs and ease of doing business as proxies for the feasibility of CDM projects.

Policy Implications

• Simplify Regulation: The paper emphasizes the need for simplifying the project regulation and clearance process to enhance cooperation.
• Improve Governance: Strengthening governance structures in both host and investor countries is crucial for successful CDM implementation.
• Enhance Trade and Investment: Promoting trade and long-term economic activities can foster international cooperation in CDM projects.
• Post-2012 Prospects: The CDM's future depends on policy signals and the continued demand for Certified Emission Reductions (CERs) beyond 2012.

Conclusion

The paper concludes that cooperation in CDM projects is influenced by a combination of economic, institutional, and political factors. It suggests that policy interventions aimed at improving these factors can enhance the effectiveness and sustainability of the CDM mechanism, ensuring its continued relevance in global climate change mitigation efforts.