International climate policy dilemmas: Examining effective carbon tariff and cap-and-trade regulation from a sustainable insurance perspective
學年 112
學期 2
出版（發表）日期 2024-04-26
作品名稱 International climate policy dilemmas: Examining effective carbon tariff and cap-and-trade regulation from a sustainable insurance perspective
作品名稱（其他語言）
著者 Lin, Jyh-horng
單位
出版者
著錄名稱、卷期、頁數 Energy Economics 134,　107572
摘要 This paper introduces a contingent claim model, offering a financial perspective on the global climate policy challenge. The model prioritizes the use of carbon tariffs to prevent carbon leakage and cap-and-trade initiatives to incentivize carbon emission reductions. In this model, manufacturers in an exporting country's supply chain collaborate with a life insurance company to acquire carbon allowances through the cap-and-trade mechanism. The importing country enforces carbon tariffs to protect its import-substitution industries and to prevent carbon leakage, assessed by the effective carbon tariff rate. Our findings show that increasing carbon tariffs on final products and intermediate goods reduces equity for both the life insurance company and the importer but strengthens carbon tariff protection. Conversely, a stricter regulatory cap within the exporting country's cap-and-trade system bolsters equity for the life insurance company and the importer but weakens carbon tariff effectiveness in the importing country. This dilemma underscores the urgent need for global collaboration in managing carbon emissions. Our research highlights the complex challenges of global climate policies. It is suggested to foster efficient and sustainable international cooperation in shaping climate policies to address these challenges.
關鍵字 Cap-and-trade;Carbon leakage;Climate change;Effective carbon tariff;Life insurance company
語言 en
ISSN 1873-6181
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者 Jyh-Horng Lin
審稿制度 是
國別 NLD
公開徵稿
出版型式 ,電子版
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