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SUSAKI Ayato
Mitsubishi Research Institute, INC.
susaki@mri.co.jp
ASUKA-ZHANG Shouchuan(Jusen)
Tohoku University
Associate Professor, The Center for Northeast Asian Studies
Email Address: asuka@sal.tohoku.ac.jp


for Discussion Roundtables 1, 25, and 28


Table of Contents









 
The Impact of Carbon Credits on Financial Viability of the AIJ/JI/CDM Projects


Abstract

To examine the potential impact of carbon credit revenues on the attractiveness of projects, we conducted a financial assessment of thirty-five energy projects and one forestry project that have been supported with the AIJ/JI/CDM feasibility study subsidy schemes by the Japanese Government. For scenarios with different carbon credit price, we calculated the payback period, internal rate of return (IRR), or net present value (NPV) of the projects. The results indicate that: 1) majority of energy projects proposed were .$B!H.(Bplant rehabilitation.$B!I.(B and .$B!H.(Bfuel use change.$B!I.(B; 2) in general, financial viability of the projects proposed in the subsidy scheme was not so high considering the opportunity cost and transaction cost; 3) revenue from carbon credits will have the most impact for forestry projects. Therefore, for energy projects that are not very attractive to the private sector without carbon credits, the additional incentive provided by such revenues may not be sufficient to induce private investment in many cases.

For the 1st draft paper, simply go to the following URL and download it:

http://www2s.biglobe.ne.jp/~stars

Sincerely yours,
ASUKA-ZHANG Shouchuan(Jusen)



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Article 2



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Article 3



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Article 4



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Article 5



 
Article 6



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