TY  - JOUR
TI  - Economic Efficiency of Climatic Projects: Conventional and Temporal Approaches
T2  - HSE Economic Journal 
IS  - HSE Economic Journal 
KW  - climate change
KW  - carbon offset
KW  - nature-based solution
KW  - methodology
KW  - temporal approach
KW  - discounting
KW  - carbon supersites of Russia
AB  - Nature-based carbon offsets are worldwide used for issuing certificated carbon units that allow emitters compensate their GHG emissions within voluntary and compliance carbon markets. Despite of their widespread, prices remain to be volatile due to imperfection of these tools: unreliable removal, short-term accumulation, high risks of double accounting and overcrediting, low trustworthy verification, not realistic the baseline emissions and overestimated additionality. Mastering the methodology for assessing climatic projects could rid of these shortcomings. In this article temporal approach is proposed for economic estimation of climatic projects on the basis of applying the physics concept of the atmospheric lifetime of CO2 emission and the economic concept of discounting. Temporal approach has been examined by assessing pilot climatic project of carbon supersites in Russia. Our research results demonstrate the controversy between conventional and temporal approaches, and some of these disparities can be softened by improving calculation methods, but fundamental contradictions demand the normative justification. By practice short-termed nature-based carbon offsets remain valid, thou for new generation carbon markets it is necessary to produce hybrid approach on the basis converging conventional and temporal approaches for assessing climatic initiatives.
AU  - Natalya Gorbacheva
UR  - https://ej.hse.ru/en/2024-28-4/995803801.html
PY  - 2024
SP  - 587-614
VL  - 28