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The dynamics of carbon sequestration and alternative carbon accounting, with an application to the upper Mississippi River Basin

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  • Feng, Hongli

Abstract

Carbon sequestration is a temporal process in which carbon is continuously being stored/released over a period of time. Di erent methods of carbon accounting can be used to account for this temporal nature including annual average carbon, annualized carbon, and ton-year carbon. In this paper, starting by exposing the underlying connections among these methods, we examine how the comparisons of sequestration projects are a ected by these methods and the major factors a ecting them. We explore the empirical implications on carbon sequestration policies by applying these accounting methods to the Upper Mississippi River Basin, a large and important agriculture area in the US. We found that the di erences are signi cant in terms of the location of land that might be chosen and the distribution of carbon sequestration over the area, although the total amount of carbon sequestered does not di er considerably across programs that use di erent accounting methods or di erent values of the major factors.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 54 (2005)
Issue (Month): 1 (July)
Pages: 23-35

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Handle: RePEc:eee:ecolec:v:54:y:2005:i:1:p:23-35

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Web page: http://www.elsevier.com/locate/ecolecon

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References

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  1. Douglas J. Miller, 1999. "An Econometric Analysis of the Costs of Sequestering Carbon in Forests," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(4), pages 812-824.
  2. Oehmke, James F., 2000. "Anomalies in net present value calculations," Economics Letters, Elsevier, vol. 67(3), pages 349-351, June.
  3. Peter J. Parks & Ian W. Hardie, 1995. "Least-Cost Forest Carbon Reserves: Cost-Effective Subsidies to Convert Marginal Agricultural Land to Forests," Land Economics, University of Wisconsin Press, vol. 71(1), pages 122-136.
  4. Hongli Feng & Lyubov A. Kurkalova & Catherine L. Kling & Philip W. Gassman, 2004. "Environmental Conservation in Agriculture: Land Retirement versus Changing Practices on Working Land," Center for Agricultural and Rural Development (CARD) Publications 04-wp365, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  5. Saak, Alexander & Hennessy, David A., 2001. "Well-Behaved Cash Flows," Staff General Research Papers 5111, Iowa State University, Department of Economics.
  6. Philip Fearnside & Daniel Lashof & Pedro Moura-Costa, 2000. "Accounting for time in Mitigating Global Warming through land-use change and forestry," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 5(3), pages 239-270, September.
  7. Darius M. Adams & Ralph J. Alig & DBruce A. McCarl & John M. Callaway & Steven M. Winnett, 1999. "Minimum Cost Strategies for Sequestering Carbon in Forests," Land Economics, University of Wisconsin Press, vol. 75(3), pages 360-374.
  8. Robert N. Stavins, 1999. "The Costs of Carbon Sequestration: A Revealed-Preference Approach," American Economic Review, American Economic Association, vol. 89(4), pages 994-1009, September.
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Cited by:
  1. Feng, Hongli & Kling, Catherine L., 2005. "Consequences of Co-Benefits for the Efficient Design of Carbon Sequestration Programs, The," Staff General Research Papers 12269, Iowa State University, Department of Economics.
  2. Annie Levasseur & Pascal Lesage & Manuele Margni & Miguel Brandão & Réjean Samson, 2012. "Assessing temporary carbon sequestration and storage projects through land use, land-use change and forestry: comparison of dynamic life cycle assessment with ton-year approaches," Climatic Change, Springer, vol. 115(3), pages 759-776, December.
  3. Gonzalex-Ramirez, Jimena & Kling, Catherine Louise & valcu, adriana, 2012. "An Overview of Carbon Offsets from Agriculture," Staff General Research Papers 35575, Iowa State University, Department of Economics.
  4. Dale, Virginia H. & Polasky, Stephen, 2007. "Measures of the effects of agricultural practices on ecosystem services," Ecological Economics, Elsevier, vol. 64(2), pages 286-296, December.
  5. Feng, Hongli & Kling, Catherine L., 2005. "Carbon Sequestration in Agriculture: an Offset Program versus Other Conservation Programs," 2005 Annual meeting, July 24-27, Providence, RI 19177, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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