Carbon capture and storage investment strategy towards the dual carbon goals

This paper develops a real option model combined with the Monte Carlo simulation to analyze the impact of the “dual carbon goals” on the CCS investment timing in China. The trajectory of CO₂ prices is predicted to follow a geometric Brownian motion with jump. The CO₂ prices are predicted on the basis of three scenarios: high, medium, and low shocks, respectively. Furthermore, the real option method is adopted to derive the appropriate incentive schemes and corresponding target CO₂ prices that sustain CCS operations to assist China’s dual carbon goals. Notably, portfolios of two government incentive policies are compared, including clean electricity tariff and carbon tax. The results show that building an efficient national carbon emissions trading scheme (ETS) is crucial to catalyzing the deployment of CCS technology, shortening the waiting time of CCS investment to 5.9 years at best. Government incentives could further bring the threshold CO₂ prices down and the expected waiting time of CCS investment forward.     

京津冀区域低碳交通指标体系构建研究

有效的低碳交通系统是地区经济社会可持续发展的有效保障。京津冀区域现行交通系统评价指标与能源规划相分离,不能准确地指导区域低碳交通建设。采用平衡计分卡(BSC)模型和关键绩效指标(KPI)方法建立京津冀区域低碳交通评价指标体系,在传统四维平衡计分卡的基础上,添加环境与能源维度,构建区域低碳交通五维平衡计分卡。依据指标设计支持可持续发展、平衡性和利益相关者价值导向原则,设计区域低碳交通评价指标体系。最后,应用关键绩效指标方法筛选关键指标,并确定各指标的关键成功因素。京津冀区域低碳交通指标体系能够将地区交通规划、能源规划与实际评估工作紧密结合,实现对区域低碳交通建设的跟踪监测与评价。     

Which types of product attributes lead to aviation voluntary carbon offsetting among air passengers?

Tourism contributes 8% to global carbon emissions. Yet, only 10% of air passengers purchase voluntary carbon offsets. We test the effectiveness of different communication messages to increase voluntary purchasing of carbon offsets by air passengers. Results of a discrete choice experiment indicate that air passengers prefer carbon offset schemes that fund local programs (as opposed to international programs), that are effective in mitigating emissions, and are accredited. The ability to choose the specific offsetting program to be funded is not important. The willingness-to-pay for carbon offsets when booking for a group is lower than when booking an individual flight for oneself. Three market segments with distinct preferences exists. Segments also differ in key personal characteristics, including age, employment status, frequent flyer membership, and flight behaviour, making them actionable target segments for aviation carbon offsetting.     

Influencing stakeholders to reduce carbon footprints: Hotel managers’ perspective

Reducing the carbon footprint is an important strategy in addressing the greenhouse effect. Some businesses in the hotel industry have started to consider implementing programmes that involve their stakeholders so that they can reduce their carbon footprints together. However, little research into how hoteliers influence their key stakeholders has been conducted. The aim of this study is to identify who hotel managers consider to be their key stakeholders and what strategies they use to encourage the stakeholders to act co-operatively. These issues are examined by taking a qualitative research approach, in which data were collected from 22 hotel executives through in-depth interviews. The findings reveal the stakeholders identified by the executives are hotel owners, employees, customers, hotels/hotel owners’ associations, governments, consultants, investors, suppliers, environmental NGOs and the wider community. The different influencing strategies used with these stakeholders are discussed.     

房地产开发经营的顾客满意管理研究

基于房地产开发的问题。本首先分析了目前我国房地产消费市场状况及实施满意度战略的重要意义。然后对顾客满意度和房地产品牌建立的关系进行了研究，最后给出实施顾客满意管理战略的框架和具体措施。     

Food management in tourism: Reducing tourism’s carbon ‘foodprint’

Food production and consumption have a range of sustainability implications, including their contribution to global emissions of greenhouse gases (GHGs). As some foodstuffs entail higher GHG emissions than others, managing their use in tourism-related contexts could make a significant contribution to climate change mitigation. This article reviews the carbon intensity of selected foods and discusses how foodservice providers could adapt their practices. It shows that even though food management could substantially reduce the GHG emissions of foodservice providers, its application is currently hampered by the complexity of food production chains and a lack of dependable data on the GHG intensity of foodstuffs. Nevertheless, it is possible to make a number of recommendations in respect of how foodservice providers can better purchase, prepare and present foods. Further research is now needed to refine and extend our understanding of the contribution that food management can make to reducing tourism’s carbon ‘foodprint’.     

“金砖四国”碳排放绩效比较研究

实现低碳型发展的关键是提高碳生产率和碳排放绩效。基于广义碳生产率构建碳排放绩效测度指标,对金砖四国1990-2007年碳排放绩效进行测度发现:碳排放经济绩效排序为巴西、印度、俄罗斯和中国,福利绩效排序为巴西、印度、中国和俄罗斯,造成四国绩效差异的关键因素是经济规模、城市化进程、产业结构、能耗水平和服务效率。     

海水养殖的碳汇潜力估算及其与经济发展的脱钩分析——以三大沿海地区为例

海洋渔业具有"碳源"和"碳汇"的双重属性,加速海洋渔业低碳发展是实现蓝色经济的重要通道。通过测算我国三大沿海地区2009-2017年海水养殖碳汇潜力,并构建海水养殖净碳汇与其产业经济发展的脱钩模型,得出以下结论:（1） 2017年中国三大沿海地区海水贝藻类养殖量最大的地区是环渤海地区,占全国总产量的48.4%,海水贝藻类养殖的主要品种分别是蛤和海带。（2）我国三大沿海地区海水贝藻类养殖直接碳汇量比重排序为:环渤海地区>珠三角地区>长三角地区。（3）海水贝类养殖所形成的直接碳汇量是海藻养殖碳汇量的1.5倍。牡蛎是海水贝类养殖碳汇量最大的品种,海带是海水藻类养殖碳汇量最大的品种。（4） 2009-2017年我国沿海地区整体上以"强脱钩"和"弱脱钩"状态为主,三大沿海地区的脱钩状态整体差异性较大。最后,从区域的视角针对性地提出促进我国海洋渔业减排增汇的对策建议,从而为区域海洋环境合作治理及实现海洋可持续发展提供决策指引。     

Improving the predictability of real economic activity and asset returns with forward variances inferred from option portfolios

This paper presents an option positioning that allows us to infer forward variances from option portfolios. The forward variances we construct from equity index options help to predict (i) growth in measures of real economic activity, (ii) Treasury bill returns, (iii) stock market returns, and (iv) changes in variance swap rates. Our yardstick for measuring predictive ability is both individual and joint parameter statistical significance within a market, as well as across a set of markets.     

Research on the Dynamic Relation between Chinese Real Estate Price and Bank Credit

本文运用矢量误差修正模型（VEC）,对2000-2011年我国房地产价格与银行信贷的动态关系进行实证分析,结果表明,银行信贷余额变动是导致实际房地产价格变动的原因,但反之并不成立。当期房地产价格变动对未来房价变动具有持续影响,短期内房地产价格可能背离银行信贷余额的变动趋势,但长期内二者的变动趋势是一致的。