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Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

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Daily Overview

Session

Green preferences and climate policy
Location: Auditorium K
Session Chair: Tara L'Horty, Climate Economics Chair

Presentation 4

Exploring Willingness-to-Claim Voluntary Carbon Credits: a market-based approach

Tara L'Horty^1,2, Philippe Delacote^1,2, Anna Creti^1,3

1: Climate Economics Chair. Palais Brongniart, 28 Place de la Bourse, 75002 Paris, France; 2: Université de Lorraine, AgroParisTech-INRAe, BETA. 14 rue Girardet - CS 14216 54042 Nancy cedex, France; 3: Université Paris-Dauphine, PSL Research University, LEDa, CGEMP, 75016 Paris, France

Discussant: Jens Abildtrup (INRAE)

The global Voluntary Carbon Market (VCM) comprises a diverse range of carbon credits, of heterogeneous quality and purchased by a broad spectrum of buyers. Our paper aims to shed light on buyers preferences for voluntary carbon credits (VCC). The level of retirements of carbon offsetting projects is used to capture the cross-sectional variation of buyers’ willingness-to-claim certificates associated with project attributes and context characteristics. For this, it is estimated a random-effect tobit model for panel data on a subset of the Voluntary Registry Offsets Database in the period from 2010 to 2023. Key findings reveal that buyers’ willingness to claim voluntary carbon credits is influenced by certification standards, project vintage, and the socioeconomic and governance contexts of project locations. Specifically, Verified Carbon Standard (VCS) projects and newer vintages (2015–2021) are preferred, while projects in low human development index countries with strong rule of law see higher claim rates. The RE-Tobit model's robustness highlights the importance of capturing unobserved heterogeneity in analyzing buyer preferences in voluntary carbon markets.