解析碳交易的经济学.pptVIP

Various Estimated Pricing Strips (VER/CER’s) * POINTCARBON ECX CCX Source: Nathan Clark, Director of Emissions Offset, CCX Various Estimated Pricing Strips (VER/CER’s) * Some final thoughts The voluntary market is really several markets Confusion regarding standards and practices What standards are “best”? Need for “one” common standard to emerge While not the solution to climate change, voluntary offsets have a role to play in reducing global GHG emissions in the U.S. Provide market flexibility Facilitate real reductions in GHG emissions Continued development of voluntary frameworks is needed Transparent verification processes and registries are emerging but need to converge to encourage more private risk capital to invest * Who will make money on climate change concerns? Developers of commercially viable clean energy technology Developers of legitimate carbon offset projects risk adjusted returns hard to predict due to regulatory unknowns medium-term upside is substantial Carbon credit certification companies time and materials Climate change scientific community grants Third world leaders, businessman and con-artist steal from U.N and sell bogus credits to global community * The Economics of Global Warming The Business of Carbon Trading Unlocking Carbon Value. . . Rich DiClaudio April 2009 Who is this guy and why do I care what he says? * 22 years of Private Equity Alpha (ai) investing in energy Invested over $1b of capital, lead on over $500 mm Co-Founder CEO of energy-focused private equity fund Henry Posner is partner in Fund With partners have combined 121 years of energy and tech investing Fund owns large VER generating asset in Utah Currently selling “pre-compliance” carbon offsets under CAR Is man warming the globe? * For 4.5 billion years the earth has been cooling and warming I don’t know if man is having a meaningful impact on cycle I don’t know the earth’s “ideal” temperature From an investor prospective - I don’t care