排放交易系統和投資機會

Emission Trading Systems and Investment Opportunities

費馬凱(Mikhail Fefelov)

指導教授 ： 郭維裕

國立政治大學/商學院/國際經營管理英語碩士學位學程(IMBA)/碩士(2022年)

https://doi.org/10.6814/NCCU202201128

摘要

無

關鍵字

排放交易系統 ； 排放配額 ； 投資

並列摘要

This thesis examines investment characteristics of emerging emission allowance markets, which are created under special mandatory regimes – emissions trading systems (ETSs). As a relatively new class of assets emission allowances can potentially provide many opportunities for diversification, hedging, and enhanced returns in the context of global climate policy responses. Using a broad secondary literature analysis, the thesis shows that the four emission allowance markets, where participation of financial investors is permitted, have stabilized over the recent years and can generally be considered investable in terms of liquidity, size, product standardization, price transparency, and credibility of market infrastructure. Nevertheless, investors need to pursue a balanced approach as the markets remain highly susceptible to regulatory changes, which can significantly impact the risk-return profile of emission allowances.

並列關鍵字

Emissions trading systems ； emission allowances ； investments

參考文獻

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4. Azlen, M et al. (2022). ‘The Carbon Risk Premium’. The Journal of Alternative Investments, Summer. https://jai.pm-research.com/content/iijaltinv/early/2022/06/11/jai.2022.1.166.full.pdf (accessed 18 June, 2022)

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