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About this document
- Pages
- 88 pages
- Price
- $45 one-time, yours to keep
- Membership
- Included in every plan
- Format
- Subject
- Business, Environmental Science, Finance
This thesis discusses emission trading and risk hedging, focusing on the cost of carry model for arbitrage opportunities and risk management. It analyzes the spot and futures markets, basis risk, and hedge efficiency, using data from the Multi Commodity Exchange in India.
What's inside
- Introduction to the Kyoto Protocol
- Indian market-based mechanism: Perform Achieve and Trade
- Emission trading mechanisms
- European Emission Trading Scheme price determinants
- Problem identification and methodology
Who it is for: Students of a joint academic program in Business Administration. (Postgraduate)
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Summary
Emission trading and risk hedging are two financial strategies. Students learn about them and how they relate to each other.
Emission trading and climate change
Emission trading is a market-based approach to controlling pollution. Countries and companies can buy and sell emission allowances. The Kyoto Protocol set binding targets for developed countries to reduce greenhouse gas emissions.
Descriptive statistics of returns
Descriptive statistics summarise data on spot and log returns. They include measures of central tendency and variability. These statistics help in analysing security returns.
Hedging strategies with futures
Futures contracts can help hedge against price changes. The document shows examples of buying and selling futures and spot positions. These examples illustrate different hedging strategies.
Timeline of climate change agreements
The document lists key events in the development of climate change agreements. These include the creation of the IPCC, the Kyoto Protocol, and the EU Emission Trading Scheme.
Key terms
- Emission trading
- A market where companies buy and sell the right to emit greenhouse gases.
- Kyoto Protocol
- An international agreement setting binding targets for reducing greenhouse gas emissions.
- Descriptive statistics
- Numbers that summarise the main features of a set of data.
- Futures contracts
- Agreements to buy or sell an asset at a future date at a price agreed today.
- Hedging
- A strategy to reduce the risk of price changes in the market.
- Greenhouse gases
- Gases that trap heat in the atmosphere, contributing to global warming.
Questions this document helps with
- What are the main mechanisms for meeting emission reduction targets?
- How do futures contracts help in hedging risk?
- What are the key milestones in the development of emission trading?
Summary written with AI from the document's text.
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