Assessment of the application of contingent valuation theory to bio-sequestered carbon

Blake, Andrea & Eves, Chris (2012) Assessment of the application of contingent valuation theory to bio-sequestered carbon. In International Real Estate Symposium IRERS 2012, 24-25 April 2012, INSPEN 2nd Campus, Selangor, Malaysia. (In Press)

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The issue of carbon sequestration rights has become topical following the United Nations Convention on Climate Change (United Nations 1992 at page 1414) and the subsequent Kyoto Protocol (United Nations Climate Change Secretariat 1998) which identified emissions trading as one of the mechanisms to reduce greenhouse gas emissions. Australian states have responded by creating a legal framework for the recognition of rights to bio-sequestered carbon. There is a lack of uniformity in the approach of each state to the recognition of these rights, which vary from the creation of new and novel interests in land to the adoption of more traditional rights such as a profit a prendre.

Rights to bio-sequestered carbon are likely to have an impact on the utility, marketability, value and financing of rural land holdings. Despite the creation of the legal framework for recognition of rights to sequestrated carbon, there has been a delay in the introduction of a formalised carbon trading scheme in Australia. In the absence of an established carbon market, this paper addresses the applicability of contingent valuation theory to assess the value of bio-sequestered carbon rights to a rural land holder. Limitations and potential controversies associated with this application of contingent valuation theory are also addressed in this paper.

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ID Code: 58915
Item Type: Conference Paper
Refereed: No
Keywords: carbon sequestration, contingent valuation theory, rural land
Divisions: Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2012 [please consult the author]
Deposited On: 04 Apr 2013 22:31
Last Modified: 11 Apr 2013 21:31

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