中国国土资源经济2024，Vol.37Issue(1)：48-55,8.DOI:10.19676/j.cnki.1672-6995.000949
福建省林业碳汇项目价值评估及金融产品定价
Value Assessment and Financial Product Pricing of Forestry Carbon Sink Projects in Fujian Province
摘要
Abstract
Combining the features of large-scale forestry carbon sink investment,long recovery cycle,and difficult pricing of carbon sink products,the article conducts an empirical study on the value of carbon sink afforestation projects and carbon sink transaction price in Fujian province based on the theory of real options pricing and using the Black-Scholes model.The results show that the project value calculated based on the conventional Net Present Value(NPV)method is lower than that calculated based on the introduction of the real options valuation model,while the results calculated according to the gray prediction model are higher than the average deal price of forest carbon sink in Fujian province in 2022,which indicates the value of forest carbon sink projects and the trading price of carbon sink products are seriously underestimated.The valuation method of forest carbon sink product pricing based on the real options theory is more scientific and reasonable.In order to further enrich the trading system of forest carbon sink products and increase the activity of the carbon sink market,the article puts forward countermeasures as follow:①Deepen the reform of forest rights system,encourage forest farmers to build forests.②Account investment returns scientifically to improve operators'enthusiasm.③Innovate carbon financial products to avoid the risk of price fluctuations.④Introduce diversified trading entities to promote the circulation and trading of carbon sinks.关键词
福建省/林业碳汇/金融产品定价/实物期权/Black-Scholes模型Key words
Fujian province/forest carbon sink/pricing of financial products/real options/Black-Scholes model分类
管理科学引用本文复制引用
柯文岚,李泽伟,罗世兴..福建省林业碳汇项目价值评估及金融产品定价[J].中国国土资源经济,2024,37(1):48-55,8.基金项目
福建省社会科学基金青年项目"基于'两山'理论的福建省林业碳汇价值动态优化研究"(FJ2021C018) （FJ2021C018）
福建省自然科学基金面上项目"碳中和目标下福建省生物质能优化利用政策模拟研究"(2021J011227) （2021J011227）
