Thesis Presentation - Building Ratings & Carbon Trading

7/27/2019 Thesis Presentation - Building Ratings & Carbon Trading

1/31

B\MJ@MGF RCPMGF^%NCRBDG PRC@MGFC ncsl de Ndaalrnmcj Bumj`mgfs mg Mg`mc

Macfl

Ndurtlsy?CamtKujkcrgm


2/31

^durnl ? \GLY ^BNM

Lglrfy

09,

Rlsdurnls

09,

Vctlr

2>,

Cfrmnujturl

38,

Mg`ustry

05,

Dthlrs

6,

Ljlntrmnmty Ndgsuaptmdg mg Mg`mc

^durnl? @r'Cocy Acthur* Lglrfy leemnmlgny mg Bumj`mgfs mg Mg`mc! Cg dvlrvmlw* 2g` alltmgf de thl Mg`d!Flracg lglrfy edrua* Burlcu de Lglrfy Leemnmlgny* Amgmstry de Ydwlr* Mg`mc* @lnlablr* 2996

Mgtlrgctmdgcj Lglrfy Cflgny* Vdrj` Lglrfy Dutjddk 2990* pp' 0=8==

^durnl ? BLL

^durnl ? BLL

G L L @ edr thl stu`y

Ndaalrnmcj ^pcnl Mg Mg`mc

^durnl ? LND MMM prdolnt* \^CM@

Vmth maprdvmgf Lglrfy Leemnmlgny mg Bumj`mgfs

352 Amjjmdg Pdgs de Nd2 plr ylcr ncg bl rl`unl`


3/31

^durnl ? MYNN

G L L @ edr thl stu`y

Phrll acodr wcys td rlùnl FHF lamssmdgs?

3' Rlùnmgf lglrfy usl

2' Rlpjcnmgf edssmj euljs wmth rlglwcbjl %>' Mgnrlcsmgf lglrfy leemnmlgny

^durnl ? Csslssalgt de pdjmny mgstrualgts edr rlùnmgf FHF lamssmdgs erda bumj`mgfs* Rlpdrt edr thl \GLY!ûstcmgcbjl Bumj`mgfs cg` ndgstruntmdg mgmtmctmvl* Nlgtrcj Lurdplcg \gmvlrsmty* ^dgoc Kdlpplj*

@mcgc \rfc!Udrsctz* ^lptlablr 2996'

^mas lt'cjj* 2996? Lglrfy suppjy' Mg Njmactl Nhcgfl 2996? Amtmfctmdg* VF MMM* MYNNN

^durnl ? MYNN

Alcsurls

3' Ndgtrdj % Rlfujctdry Mgstrualgts3' Gdractmvl

3' Cppjmcgnl stcg`cr`s

2' Bumj`mgf nd`ls2' Mgedractmvl

3' Acg`ctdry cu`mts

2' Acg`ctdry jcbljmgf cg` nlrtmemnctmdg prdfrcas

2' Lndgdamn cg` acrklt!bcsl` mgstrualgts3' Lglrfy leemnmlgny nlrtmemnctl snhlals

2' Kydtd ejlxmbmjmty alnhcgmsas

>' Emsncj mgstrualgts cg` mgnlgtmvls3' Pcxctmdg2' Pcx lxlaptmdgs$rlùntmdgs

0' ûppdrt* mgedractmdg cg` vdjugtcry cntmdg3' Udjugtcry nlrtmemnctmdg cg` jcbljjmgf

Lx ? Prc`cbjl nlrtmemnctls edr lglrfy scvmgfs (whmtl nlrtmemnctls-

Lx? Odmgt Mapjlalgtctmdg (OM- cg` Njlcg @lvljdpalgt Alnhcgmsas (N@A-

Lx ? FRMHC* JLL@$MFBN* GB^RY* Lnd Hdusmgf* ltn'*


4/31

C M A

Pd stu`yYlredracgnl Bcsl` Rctmgf cg` mtspdtlgtmcj edr cnhmlvmgfLGLRF]

LEEMNMLGN]cg`NCRBDGPRC@MGFedrNdaalrnmcj Bumj`mgfsmg Mg`mc

R l s l c r n h S \ L ^ P M D G

Vhy ms Ylredracgnl Bcsl` Rctmgf gll`l` mgspmtl de lxmstmgf rctmgfs jmkl FRMHC % JLL@ mg Mg`mc4

Ncg thl lxmstmgf blgnhacrk cnt cs cg bcsljmgl td `lvljdp ncrbdg trc`mgf


5/31

D B O L N P M U L ^

3' ^tu`y mg `ltcmj cbdut thl lxmstmgf bumj`mgf rctmgf prdfrcas FRMHC % JLL@ '

2' ^tu`y thl plredracgnl bcsl` rctmgf mg Mg`mc m'l Gctmdgcj Bumj`mgfs ^tcr RctmgfYrdfrca(GB^RY- cg` stu`y mg brmle cbdut NNA

>' ^tu`y thl lxmstmgf ncrbdg trc`mgf mg ndaalrnmcj bumj`mgf slntdr mg Mg`mc cg`

dthlr ndugtrmls'

0' Pd emg` cg lxmstmgf ncsl wmth c ndabmgctmdg de bumj`mgf rctmgfs cg` lamssmdg trc`mgfsnhlal cg` m`lgtmey pdtlgtmcj strctlfmls td mapjlalgt dgl sunh alnhcgmsa mg Mg`mc'

^ N D Y L % J M A M P CP M D G ^

3' Mt ms crlslcrnh bcsl`

stu`y'

2' Dgjy thl lglrfy slntmdg mg FRMHC % JLL@ rctmgfs wduj` bl `lcjt mg eurthlr `ltcmj'

>' Mt ednusls aunh dg thl dplrctmdgcj lglrfy rcthlr thcg labd`ml` lglrfy'


6/31

RCPMGF^ % LP^ cnrdss thl wdrj`

RCPMGF^ PRC@MGF RCPMGF^ + PRC@MGF

3==9 3==5 3==8 2999 2993 2992 299> 2990 299< 2995 2996 2998 299= 2939 2933 2932 293>

BRLLCA JLL@

^BPDDJ FRLLG

FJDBL^

BLCA

FRLLG

^PCR

NC^BLL JLL@

Mg`mc

FRMHC

PHRLL

^PCR

ADH\R@

F^BN Rctmgfs

Lamssmdg

Prc`mgf

\K \^ Hdgf Kdgf Nhmgc

NhmgcMg`mcOcpcg

HSL

Ercgnl

Custrcjmc\^ % Ncgc`cNcgc`c Flracgy

Mg`mc

LGLRF]

^PCR

LGLRF]

NDGNLYP

C@UM^DR

GCBLR^

LGLRF]^ACRP

GB^RY

Mg`mc

\^ Lurdpl Custrcjmc

^mgfcpdrl

\K LP^

\K

L\ LP^

Lurdpl

OULP^

Ocpcg

VHMPL

NLRPMEMNCPL^

Mtcjy Ercgnl

Ncp %

Prc`l

Ncjmedrgmc

N LP^

Ncgc`c

^ LP^

^wmtzlrjcg`

^K LP^

^duth Kdrlc

Pdkyd

LP^

Pdkyd

YCP

Mg`mc

LP^

Nhmgc

G^VFFC^

Custrcjmc


7/31

ALPHD@DJDF]

Cgcjysms de Lxmstmgf rctmgfs mg Mg`mc

Ncrbdg trc`mgf mg Bumj`mgf slntdr

N@A

vs

Bumj`mgf Rctmgfs cnrdss thl wdrj`

vs

Mgtlrgctmdgcj prcntmnl

Lamssmdg Prc`mgf ^nhlals Glw ^duth Vcjls

Nhmgc

Mtcjy % Ercgnl

Ydtlgtmcj mgtlfrctmdg de bumj`mgf

rctmgfs cg` ncrbdg trc`mgf mgndaalrnmcj bumj`mgf mg Mg`mc

Pdkyd

RCPMGF^

PRC@MGF

RCPMGF^ + PRC@MGF


8/31

M' ^uppdrt* mgedractmdg cg` vdjugtcry cntmdg

Udjugtcry Nlrtmemnctmdg % Jcbljjmgf

RCPMGF^


9/31^durnl ? Rll` Rmnhcr`* Bmjds Cgmtc* Vmjkmgsdg cg` Kcrj!VLRGLR nhujtl* Mgtlrgctmdgcj Ndapcrmsdg de ^ustcmgcbjl Rctmgf Pddjs

Lxmstmgf Bumj`mgf RCPMGF^ cnrdss thl wdrj`



10/31


Pypl de Bumj`mgf RCPMGF^

3DYPMD

G

Mgtlgt$Yrlsnrmptmvl

2DYPMD

G

Ylredracgnl

>DYPMD

G

Dutndal bcsl`

MG@MC

\GMPL@ ^PCPL^

C\^PRCJMC


11/31

CGCJ]^M^ de J L L @ * F R M H C % G B ^ R Y

JLL@ Mg`mc FRMHC GB^RY

CbbrlvmctmdgJlc`lrshmp mg Lglrfy cg`

Lgvmrdgalgtcj @lsmfg

Frllg Rctmgf edr Mgtlfrctl` Hcbmtct

Csslssalgt Gctmdgcj Bumj`mgf ^tcr RctmgfYrdfrca

]lcr de Jcugnh 299< 299< 299=

Drfcgmzctmdg MFBN (Mg`mcg Frllg Bumj`mgf

Ndugnmj-

C@cR^H (Cssdnmctmdg edr

@lvljdpalgt cg` Rlslcrnh dg

^ustcmgcbjl Hcbmtcts-

BLL (Burlcu de Lglrfy Leemnmlgny-

Rctmgf Ulrsmdgs JLL@ Mg`mc GN (edr glw

ndgstruntmdg % rlgdvctmdg-

JLL@ Mg`mc Ndrl % ^hljj

MFBN Frllg Ecntdry Bumj`mgf

MFBN Frllg Hdals

MFBN Frllg Pdwgshmps

MFBN Frllg ^L_

^UCFRMHC Ulrsmdg 3

Deemnl

BYD

^hdppmgf

Acjjs

Ulrsmdg 2

Deemnl

Hdtljs/

Hdspmtcjs/

(/\g`lr `lvljdpalgt-

Bumj`mgf Nrmtlrmc Ndaalrnmcj* Mgstmtutmdgcj*

Rlnrlctmdgcj* Rlsm`lgtmcj* L_

% Ecntdrmls

Ndaalrnmcj* Mgstmtutmdgcj %

Rlsm`lgtmcj Bumj`mgfs

Deemnls* Hdspmtcjs* Hdtljs*

^hdppmgf Acjjs* BYDs (wmth cndgglntl` jdc` de 399kV % cbdvl-

Yrdolnts Rlfmstlrl` ! 3*0=5

Nlrtmeml` ! 230

Rlfmstlrl` ! 356

Nlrtmeml` ! 8

Deemnl Bumj`mgfs 398

BYD bumj`mgfs 33

Rcgkmgf Ydmgts de 3!399 (Nlrtmeml`*

^mjvlr* Fdj` % Yjctmgua-

Ydmgts de 3!399 ( 3! < ^tcr rctmgf- 3!< ^tcr Rctmgf

^durnl ? JLL@ GN % FRMHC cs de Elb* 2932



12/31

CGCJ]^M^ deJ L L @ * F R M H C % G B ^ R Y



JLL@ Mg`mc FRMHC GB^RY

Phlals$Ycrcaltlrs

3' ^ustcmgcbjl ^mtls

2' Vctlr Leemnmlgny

>' Lglrfy % Ctadsphlrl

Actlrmcjs % Rlsdurnls

0' Mg`ddr Lgvmrdgalgtcj Sucjmty

' Mggdvctmdg

3' kVh$sq'at$ylcr

2' kVh$d

>' kVh$rdda

@meelrlgnls 3' Cjtlrgctmvl trcgspdrtctmdg2' Bumj`mgf rlusl

>' Rlfmdgcj prmdrmty

0' @dlsgt hcvl pdmgts edr

acg`ctdry nrmtlrmc

3' Acg`ctdry nrmtlrmc edr

3' ^djcr pdwlr (3,-

2' Frdug` wctlr trlctalgt

edr `rmgkmgf

2' Dut`ddr sdug` ndgtrdj

>' C`hlrlgnl td NYNB edr gdras

0' Leemnmlgt wctlr usl urmgf

ndgstruntmdg


13/31

R L N D A A L G @ C P M D G

Adgmtdrmgf % Ulrmemnctmdg ms dgjy edr

dgl ylcr* ^d cetlr 3 ylcr 4444444

Nrdss nhlnk w'r't prl`mntmdgs % cntucj

plredracgnl

Phlracj ndaedrt jlvljs cg` mg`ddr cmr

qucjmty crl gdt ndgsm`lrl`

Rdjl de njmactl ms gdt sctmsecntdrmjy

ncpturl`

VHCP GLX P 444 444

Mgvlstalgts vs rlturgs

Cgy emgcgnmcj mgnlgtmvls 4

Vhct crl thl dthlr mgtlrlstsdthlr thcg fdmgf frllg w'r't

rctmgfs 4

By alrfmgf thlsl tddjs thl

jmamtctmdgs ncg bl cvdm`l`

NCRBDG PRC@MGF



14/31

N N A (\GLY ! ^BNM-Ndaadg Ncrbdg Altrmn

^durnl ? \GLY!^BNM* NNA Ymjdt Yhcsl ! MM

Jcugnhl` dg 3=th Acy 2939* Ycrms

(Ymjdt* Yhcsl 3; Emrst `rcet wcs rljlcsl` ct NDY 3< mg Ndplghcflg mg @lnlablr 299=-

Alcsurmgf Lglrfy \sl % Rlpdrtmgf FHF Lamssmdgs erda Bumj`mgf Dplrctmdgs

Mg`mnctdrs

Althd`djdfy

Pdp!`dwg cpprdcnh

Bdttda!up cpprdcnh



15/31

MM'Lndgdamn cg` acrklt!bcsl` mgstrualgts

3'Kydtd ejlxmbmjmty alnhcgmsas

2'Lglrfy leemnmlgny nlrtmemnctl snhlals

PRC@MGF


16/31

N C R B D G (Lamssmdg- P R C @ M G F

Mt ms c acrklt!bcsl`mgstrualgt cmal` ct amtmfctmgf njmactl nhcgfl thct cjjdws pcrtmls td

buy cg` sljjplramts (cjjdwcgnls-edr lamssmdg* drnrl`mtsedr FHF

Nurrlgtjy thlrl crl slvlrcjLamssmdg Prc`mgf ^nhlals (LP^-; `meelr mg smzl* sndpls cg` `lsmfgs'

Phlrl crl vdjugtcrycg` acg`ctdrysnhlals'

Hdwlvlr* shcrl c ndaadg prlamsl? lamssmdg rl`untmdgs shduj` tckl pjcnl whlrl thl ndst de rl`untmdg

ms thl jdwlst* thus jdwlrmgf thl dvlrcjj ndstdendabctmgf njmactl nhcgfl'

^durnl ? Ylr`cg ^jdbd`cg* Czcpcfmn C`msc (2933-' Ncrbdg trc`mgf? Nurrlgt nhlals cg` Euturl @lvljdpalgts' ^nhddj de Nhlamncj Lgfmgllrmgf cg` Cgcjytmncj ^nmlgnl* Phl \gmvlrsmty de Acgnhlstlr* \K


Phl twd typls de ncrbdg ad`ljs crl

Ncp cg` Prc`l? Lurdplcg \gmdg LP^* Rlfmdgcj Frllghdusl Fcs Mgmtmctmvl (RFFM-* Pdkyd Ncp % Prc`l*

Nhmgc Ncp % Prc`l* Ylredra Cnhmlvl % Prc`l (YCP-? Mg`mc

Bcsljmgl cg` Nrl`mt? Njlcg @lvljdpalgt Alnhcgmsa(N@A-* Vhmtl Nlrtmemnctl ^nhlals* Glw duth

Vcjls Frllghdusl Fcs Cbctlalgt


17/31

C ncsl deN @ A (Njlcg @lvljdpalgt Alnhcgmsa-

^durnl \GLY ^BNM* 299= Phl Kydtd Yrdtdndj* PhlNjlcg @lvljdpalgt Alnhcgmsa cg` Phl Bumj`mgf cg` Ndgstruntmdg ^lntdr'

N@A \GENNN

Cs de2998

>*999 N@A prdolnts wlrl dgjy smx prdolntscrl rljctl` td LL

Dgjy dgl ms td`cy flglrctmgf thl NLRs'

Cs de2932

38 N@A prdolnts (rljctl` td LL-mgthl pmpljmgl (Mg Mg`mc- wmth cg

cvlrcfl cggucj 3*25*2=< NLRs

Rlcsdgs edr ecmjurl Gd smfgmemncgt Lndgdamn blglemts

Plnhgdjdfy splnmemn Jcnk de rlelrlgnls edr bcsljmgls

C``mtmdgcjmty rlqumrlalgt

Rlndaalg`ctmdgs Pd usl Ylredracgnl Bcsl` mg`mnctdrs* m'l' lglrfy usl plr ^q'at

@lvljdp ndaadg plredracgnl!bcsl` bcsljmgls

^uppjlalgt tlnhgdjdfy!bcsl` althd`djdfmls edr vlrmemnctmdg cg` adgmtdrmgfwmth stctmstmncj acgcflalgt tddjs



18/31

L A M ^ ^ M D G P R C @ M G F ^nhlals cnrdss thl Vdrj`


MacflNdurtlsy?www'dutjmgl!wdrj`!acp'nda

Bcsljmgl % Nrl`mt Ncrbdg Ad`lj

Ncp % Prc`l Ncrbdg Ad`lj

Pdkyd

Nhmgc

Mg`mc

Ercgnl Mtcjy

Glw ^duth

Vcjls

Ndgglntmnut

GP^

\gmtl` Kmgf`da


19/31

Ndaamttl` td rl`unl mts lamssmdgs by 09!


20/31

C ncsl deL ^ ^ (Lglrfy ^cvmgf ^nhlal- mg G^V

^durnl ? www'lss'gsw'fdv'cu


Ylr nlrtmemnctl Nlrtmemnctl prmnl ? $2< td $>9

Ylgcjty prmnl? $>0'26(wmthdut tcx-
http://www.ess.nsw.gov.au/http://www.ess.nsw.gov.au/


21/31

EMG@MGF^


^durnl ? \gmtl` ^tctls ?Brmgkljy % Nmndhlttm * 299=' Ncrbdg Acrklts? C glw rlvlgul sdurnl edr ndaalrnmcj rlcj lstctl

Mgnrlcsl mg N@A prdolnts rljctl` td LLB mg Mg`mc

Nurrlgtjy thlrl ms c prdpdscj edr JLL@ Mg`mc edr Lxmstmgf Bumj`mgfs? Dplrctmdgs % Acmgtlgcgnl rctmgf

Hcvl smfgl` cg cfrllalgt dg Dntdblr 39* 2939whmnh cmas td

@ladgstrctl hdw Mg`mcg bumj`mgf prdolnts ncg qucjmey edr ncrbdg deeslt nrl`mts

`ljmvlrmgf sustcmgcbjl bumj`mgf blglemts td Mg`mc cg` prdvm`mgf hufl dppdrtugmtmls edr

Custrcjmcg mgvlstdrs* `lvljdplrs cg` slrvmnl prdvm`lrs wmth lxplrtmsl mg frllg bumj`mgf'

Phl lamssmdgs wmjj bl alcsurl` thrdufh Ndaadg Ncrbdg Altrmn

Deeslts nduj` bl sdj` thrdufh thl N@A dr vdjugtcry trc`mgf snhlals'

A d \

RCPMGF^ PRC@MGF RCPMGF^ PRC@MGF


22/31

EMG@MGF^


3DYPMD

GMgtlgt$Yrlsnrmptmvl

2DYPMD

GYlredracgnl

>DYPMD

GNcrbdg Prc`mgf

MG@MC

\GMPL@ PCPL^ Nhmncfd Njmactl

Lxnhcgfl

C\^PRCJMC


Yrdpdscj

^ndrl de

6< % cbdvl

GCBLR^ Altlrl`

bcsljmgl althd`



23/31

RLNDAALG@CPMDG^



Yrdpdscj

Phlrl ms c prdpdscj edr YCP snhlal edr Ndaalrnmcj bumj`mgfs cg` mt ms mg thl gcsnlgt

stcfl* mgstlc` de `lsmfgmgf cjj tdflthlr c glw prdfrca* thl GB^RY ncg bl lvdjvl` cs c

L^^ snhlal* jmkl thl L^^ de Custrcjmc

Phl GB^RY ncg bl usl` cs c bcsljmgl cg` lamssmdgs ncg bl trc`l`

Phms ncg bl rlfmstlrl` ug`lr bumj`mgf Gctmdgcjjy Cpprdprmctl Amtmfctmdg Cntmdgs

(GCACs-

Rctmgf typdjdfy Rctmgfs Gd Ncrbdg nrl`mts Ncrbdg nrl`mts crl

cnhmlvcbjl

Ncrbdg nrl`mts crl

cssurl`

Mgtlgt bcsl` rctmgf JLL@$MFBN rctmgfNlrtmeml`* ^mjvlr Fdj` Yjctmgua

FRMHC 3* 2 % > ^tcr 0 ^tcr < ^tcr

Ylredracgnl bcsl`

rctmgf

GB^RY 3* 2 % > ^tcr 0 ^tcr < ^tcr



24/31

RLNDAALG@CPMDG^


Jcnk de Mgedractmdg

Phlrl ms hcr`jy cgy `ctc cvcmjcbjl mg thl pubjmn `dacmg'

Phlrl ms gd bmjctlrcj mgedractmdg lxnhcgfl bltwllg thl drfcgmzctmdgs cbdut thl

bumj`mgfs whmnh wlrl mg ndaadg cppjymgf edr thl rctmgfs$trc`mgf'

Phlrl ms jdt pdtlgtmcj edr eurthlr rlslcrnh mg thlsl crlcs* but jcnk de mgedractmdg mg thl

pubjmn `dacmg ms c acodr jmamtctmdg td lxpjdrl thlsl tdpmns'

Phlrl shduj` bl nlrtcmg alnhcgmsa whlrlby thlsl drfcgmzctmdgs wmjj bl cbjl td

m`lgtmey$trcnk thl mgedractmdg cbdut bumj`mgfs whmnh crl cppjymgf edr dthlr

rctmgfs$trc`mgf' Lx? MFBN td cg lxtlgt hcs c trcnk de bumj`mgfs cppjymgf edr N@A

C\^PRCJMC



25/31

RLNDAALG@CPMDG^


@lvljdpmgf thl GB^RY

Gd rctmgf lxmsts wmth c ndabmgctmdg de mgtlgt % plredracgnl bcsl` rctmgf

Phl GB^RY ncg bl mgtlrgcjmzl` wmth JLL@$MFBN dr FRMHC td cvdm` thl jmamtctmdgs

Nurrlgtjy thl G^BRY ncjnujctls dgjy thl LYM mt ncg bl ndgvlrtl` mgtd ND2 lqumvcjlgt* cs

mg thl ncsl de NNA'

Phlrl ms c fdd` pdtlgtmcj td `lvljdp thl GB^RY mgtd c NNA tddj cs bdth thlsl usl` thl

scal slt de pcrcaltlrs td crrmvl ct thl LYM (Lglrfy Ylredracgnl Mg`lx-

Edr gctmdgcj lamssmdg trc`mgf wmthmg thl ndugtry GB^RY ncg bl usl` cg` edr

mgtlrgctmdgcj lamssmdg trc`mgf Ndaadg Ncrbdg Altrmn (NNA- tddj ncg bl usl`'



26/31

NDGNJ\^MDG^


Phl rlslcrnh hc` blfug wmth thl qulstmdg* whlthlr thl plredracgnl bcsl` rctmgfs ncg

bl usl` cs c bcsljmgl td `lvljdp ncrbdg trc`mgf cg` thl emg`mgfs de thl stu`y hcs

shdwl` thct thlrl crl lxmstmgf ncsls whmnh usl plredracgnl rctmgf cs c bcsljmgl edr

ncrbdg trc`mgf'

Phlrl ms fdd` pdtlgtmcj td mapjlalgt c ncrbdg trc`mgf snhlal mg Mg`mc w'r't td thl

frdwmgf LP^ cnrdss dthlr ndugtrmls cg` prdpdscj edr YCP mg Mg`mc; GB^RY ncg bl

lalrfl` cs c whmtl nlrtmemnctl dr L^^ cg` tml` up wmth thl YCP

Edr gctmdgcj lamssmdg trc`mgf wmthmg thl ndugtry GB^RY ncg bl usl` cg` edr

mgtlrgctmdgcj lamssmdg trc`mgf Ndaadg Ncrbdg Altrmn (NNA- tddj ncg bl usl`'

Phms stu`y ncg bl usleuj edr BLL td `lvljdp thl YCP edr ndaalrnmcj bumj`mgfs mg Mg`mc'

Phms stu`y hcs c pdtlgtmcj td bl ncrry edrwcr` mg `lvljdpmgf GCACs edr thl bumj`mgf

slntdr mg thl Mg`mcg ndgtlxt'



27/31

CNKGDVJL@FLALGP^


3' NMM MFBN (JLL@ Rctmgfs-

^capcth Kuacr* Gcflsh Fuptc* Ycàcgcbh ûbrcacgmcg* Rdhmt Rcvujc % Rcvm Ploc

2' ^cklt ^crcee* ps ndjjlntmvl (GB^RY-

>' Nurt Fcrrmfcg* \GLY ^BNM (NNA-

0' @r'Rcoct Fuptc* Dxedr` Mgstmtutl edr ûstcmgcbjl @lvljdpalgt* \K


28/31

PHCGK ]D\ ^hrcvcgm Fuptc



29/31

CGCJ]^M^ deF R M H C % J L L @


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Thesis Presentation - Building Ratings & Carbon Trading

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Transcript of Thesis Presentation - Building Ratings & Carbon Trading