Doctoral Dissertation Research: Understanding the Formation of an International Carbon Market: An Examination of Three Financial Service Centers

博士论文研究：理解国际碳市场的形成：三个金融服务中心的考察

• 批准号: 0802799
• 负责人: Amy Glasmeier
• 金额: $ 1.2万
• 依托单位: Pennsylvania State Univ University Park
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2008
• 资助国家: 美国
• 起止时间: 2008-05-01 至 2010-04-30
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=0802799&HistoricalAwards=false
• 关键词: Doctoral; Dissertation; Research; Understanding; Formation

Mitigating climate change calls for earth system governance -- the collaborative and international management of a range of socio-economic processes that produce greenhouse gas emissions. To date, the construction of earth system governance through supranational political channels has proven difficult. The growing momentum, particularly on the part of the global financial service industry, behind carbon markets suggests that carbon emissions trading schemes can instead be used to construct earth system governance. Using an interdisciplinary theoretical framework combining concepts from three fields -- environmental policy, economic geography and the sociology of finance -- the project seeks to: 1) investigate the nature of markets and their construction within an environmental context; 2) understand the relationship between market construction, design and path dependency; and 3) explain the role markets -- operating ahead of policymakers -- play in the construction of regulation. To accommodate the complex dynamic of the carbon markets, the research design includes an interdisciplinary mix of qualitative and quantitative elements. The primary method -- case studies of institutions in London, New York and Chicago as well as interviews with policymakers in Brussels at the European Commission, Washington D.C. and San Francisco -- will provide an in-depth understanding of a complicated and ongoing process. The role of financial service firms in constructing the market and the relationship between market processes and environmental policy are of particular interest. Quantitatively, Q-analysis applied to the interviews and close dialogue will reveal potential bias. The study will provide detailed analysis of the development of carbon markets through the lens of regulatory entities and the financial service industry (the market makers), and a transatlantic map of the demand-side of the carbon market network. The study will make a unique contribution by providing important information about the nature of the demand-side operation of carbon markets. The research further presents the opportunity to capture the creation of a market at its inception, providing an invaluable baseline of comparison for future studies of the carbon market and markets in general. The results of the research will answer questions about the nature of environmental markets, the processes that drive their construction and the relationship between markets and environmental policy. In particular the study will provide valuable insight on the relationship between the finance or economics of these markets and their potential for achieving real environmental gains. This information will aid policy and market makers in efforts to enhance the efficiency and performance of the markets, which will strengthen the ability of the markets to contribute to society's goals of addressing climate change.

减缓气候变化需要地球系统治理-对产生温室气体排放的一系列社会经济进程进行国际合作管理。 迄今为止，通过超国家政治渠道构建地球系统治理已被证明是困难的。 碳市场背后的增长势头，特别是全球金融服务业的增长势头，表明碳排放交易计划可以用来构建地球系统治理。 该项目采用跨学科理论框架，结合了环境政策、经济地理和金融社会学三个领域的概念，旨在：1）研究市场的性质及其在环境背景下的构建; 2）了解市场之间的关系建设、设计和路径依赖; 3）解释市场在政策制定者之前的作用-在监管建设中发挥的作用。 为了适应碳市场的复杂动态，研究设计包括定性和定量元素的跨学科组合。 主要方法-对伦敦、纽约和芝加哥的机构进行案例研究，以及在布鲁塞尔、欧洲联盟委员会、华盛顿特区和弗朗西斯科与决策者进行访谈-将使人们深入了解一个复杂和持续的进程。 金融服务公司在建立市场方面的作用以及市场进程与环境政策之间的关系特别令人感兴趣。 定量分析、访谈中的Q分析和密切对话将揭示潜在的偏见。 这项研究将通过监管实体和金融服务业（做市商）的透镜，详细分析碳市场的发展情况，并绘制一幅跨大西洋碳市场网络需求方的地图。 这项研究将作出独特的贡献，提供关于碳市场需求方运作性质的重要信息。 这项研究还提供了一个机会，可以在市场建立之初就抓住它，为今后对碳市场和一般市场的研究提供了宝贵的比较基线。 研究结果将回答有关环境市场的性质，推动其建设的过程以及市场与环境政策之间的关系等问题。 特别是，这项研究将对这些市场的金融或经济与其实现真实的环境收益的潜力之间的关系提供宝贵的见解。 这些信息将有助于决策者和市场制定者努力提高市场的效率和绩效，从而加强市场为社会实现应对气候变化的目标作出贡献的能力。