The Role of Forests as Carbon Sinks: Land-Use and Carbon Accounting
AbstractThe use of forests as carbon sinks is examined by introducing carbon sequestration benefits’ accounting in a multi-vintage land allocation model. Following the IPCC, three carbon accounting methods are considered. We compare the results in each case with those without carbon sequestration, as well as the performances of the ton-year and the average methods (second-best) to the carbon flow (first-best) concerning optimal land allocation between forestry and alternative uses, total carbon sequestered, timber production and social welfare. A full proof of long-run optimality of steady state forest is provided. Numerical simulations are performed and results discussed illustrating the setup’s potential.
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Bibliographic InfoPaper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2009.61.
Date of creation: Aug 2009
Date of revision:
Land Allocation Model; Forest Vintages; Carbon Sequestration; Carbon Accounting; Optimal Rotation; Transition/steady-state;
Find related papers by JEL classification:
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
- Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
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