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If invisible carbon waste can be traded, why not visible construction waste? Establishing the construction waste trading ‘missing market’
Resources, Conservation and Recycling ( IF 13.2 ) Pub Date : 2022-08-17 , DOI: 10.1016/j.resconrec.2022.106607
Ziyu Peng, Weisheng Lu, Chris Webster

Of all the solid waste produced by the world's rapidly urbanising regions, a significant proportion flows from construction activities. While construction waste permit trading could incentivise both reduction and recycling, there are no known examples of such trading. Meanwhile, trading carbon permits has been successfully mainstreamed. Drawing on Coase Theorem, our research specifies a cap-and-trade construction waste trading scheme. We investigate various emissions trading schemes to propose and elaborate a preparation-implementation-evolution-review roadmap. In the first step, we decide a waste cap based on social optimum and a benchmarking method to allocate permits. Second, we establish a market that minimises transaction costs. Third, we set up a reward scheme to subsidise low-waste behaviours so that, in the fourth step, the cap can be decreased through regular reviews. Two major risks are identified, namely price volatility and fly-tipping, in response to which we propose a market stability reserve and deposit-refund system, respectively.



中文翻译:

如果看不见的碳废料可以交易,为什么不可以交易看得见的建筑废料?建立建筑垃圾交易“缺失市场”

在世界快速城市化地区产生的所有固体废物中,很大一部分来自建筑活动。虽然建筑废物许可证交易可以激励减少和回收,但没有此类交易的已知例子。同时,碳许可证交易已成功主流化。借鉴科斯定理,我们的研究指定了限额交易建筑垃圾交易方案。我们研究了各种排放交易计划,以提出和阐述准备-实施-演变-审查路线图。第一步,我们根据社会最优确定废物上限和分配许可证的基准方法。其次,我们建立了一个交易成本最小化的市场。第三,我们建立了一个奖励计划来补贴低浪费行为,以便在第四步中,可以通过定期审查降低上限。确定了两个主要风险,即价格波动和飞行倾倒,作为应对,我们分别提出了市场稳定准备金和押金退还制度。

更新日期:2022-08-17
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