On April 19th, Dr. Qingliang Tang from Western Sydney University, delivered a lecture on topic of “To Internalize Nordhaus’s Social Cost of Carbon to Corporate Cost of Carbon Reduction: The Role of Blockchain” at LCC.
In the lecture, Dr. Tang first introduced the research results of William D.Nordhaus, the winner of the Nobel Prize in Economics in 2018, especially about his DICE model aimed to estimate the social cost of carbon(SCC).
Subsequently, he explained in detail how to internalize SCC to corporate cost of carbon reduction (CCCR) through a series of formulas and deduction. The calculation of CCCR is critical to the optimal level of green investment for the decision makers of corporates.
At the end, Dr. Tang proposed to apply Blockchain, a distributed ledger technology, to carbon asset management of firms. For instance, in the process of supply chain carbon accounting, Blockchain allows partners of supply chain to involve in tracking emissions through flow of products thanks to the characteristic of decentralization.
This lecture is very inspiring for LCC students who are struggling for a better future of digitalization, decentralization and decarbonization.