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SUMMARY:The Value of Compliance Carbon Offsets in Cap-and-Trade Markets
DTSTART:20260303T121500
DTEND:20260303T131500
DTSTAMP:20260314T212354Z
UID:48bb920e7ea759e87fc6fbeab1a4c73e9afd087d162335f7c57d2431
CATEGORIES:Conferences - Seminars
DESCRIPTION:Federica Zeni - SFI@EPFL\nWe study compliance carbon offsets i
 n cap-and-trade markets. We develop a model predicting that firms sort int
 o offset use by carbon productivity: highly productive firms rely solely o
 n allowances\, while less productive firms use offsets because they trade 
 at a discount but carry invalidation risk. Using administrative data from 
 California's cap-and-trade program\, we find strong empirical support for 
 these predictions. Structural estimation suggests that roughly one-third o
 f compliance offsets fail to reduce emissions\, generating about 2 percent
  uncounted emissions. Nevertheless\, offsets can increase efficiency relat
 ive to an equivalent tightening of the emissions cap under certain conditi
 ons.\n 
LOCATION:UNIL\, Extranef\, room 126
STATUS:CONFIRMED
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