Collaborative performance of CCER project concerning uncertain industrial benchmark and average sector reference points

In the framework of Chinese Certified Emission Reduction (CCER), carbon reduction projects greatly contribute to achieve the "dual carbon" targets. According to prospect theory, the collaborative performance of a CCER is greatly influenced by uncertain external reference points, such as industrial benchmark and average sector levels. This study proposes a novel method to assess the perceived collaborative performance of CCER projects concerning dual grey reference points. Specially, an aggression method is proposed to calculate the comprehensive performance of a CCER project through data standardization. According to comparison results between comprehensive performance and grey reference points, four scenarios are exploded with associated probabilities. Moreover, the perceived performance assessment of a CCER project is explored including competitive perception performance (CPP) and industry performance increment (IPI), which are generated by the comparisons to industrial benchmark and average sector references. Finally, a numerical case is conducted to demonstrate its feasibility and effectiveness. This paper contributes to (1) Aggregation process of CCER actual performance through data standardization operation; (2) Computation method for perceived collaborative performances influenced by dual grey external reference levels; (3) Feasibility analysis reflecting the evolution of the perceived collaborative performances. Policy implications can assist CCER participants in selecting relevant carbon reduction key performance indicators (KPIs), identifying suitable innovation strategies, determining appropriate benchmarks, and mitigating information uncertainty.