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The Role of Forests as Carbon Sinks: Land-Use and Carbon Accounting

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  • Renato Rosa

    (Fondazione Eni Enrico Mattei)

  • Clara Costa Duarte

    (Universidade Nova de Lisboa)

  • Maria A. Cunha-e-Sá

    (Universidade Nova de Lisboa)

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    Abstract

    The 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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    File URL: http://www.feem.it/userfiles/attach/Publication/NDL2009/NDL2009-061.pdf
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    Bibliographic Info

    Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2009.61.

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    Date of creation: Aug 2009
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    Handle: RePEc:fem:femwpa:2009.61

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    Related research

    Keywords: Land Allocation Model; Forest Vintages; Carbon Sequestration; Carbon Accounting; Optimal Rotation; Transition/steady-state;

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    References

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    1. Stavins, Robert & Newell, Richard, 1999. "Climate Change and Forest Sinks: Factors Affecting the Costs of Carbon Sequestration," Discussion Papers dp-99-31-rev, Resources For the Future.
    2. repec:reg:wpaper:225 is not listed on IDEAS
    3. Robert N. Stavins, 2007. "Environmental Economics," NBER Working Papers 13574, National Bureau of Economic Research, Inc.
    4. Salo, Seppo & Tahvonen, Olli, 2002. "On Equilibrium Cycles and Normal Forests in Optimal Harvesting of Tree Vintages," Journal of Environmental Economics and Management, Elsevier, vol. 44(1), pages 1-22, July.
    5. repec:reg:wpaper:276 is not listed on IDEAS
    6. Lubowski, Ruben N. & Plantinga, Andrew J. & Stavins, Robert N., 2006. "Land-use change and carbon sinks: Econometric estimation of the carbon sequestration supply function," Journal of Environmental Economics and Management, Elsevier, vol. 51(2), pages 135-152, March.
    7. Ralph Alig & Darius Adams & Bruce McCarl & J. Callaway & Steven Winnett, 1997. "Assessing effects of mitigation strategies for global climate change with an intertemporal model of the U.S. forest and agriculture sectors," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 9(3), pages 259-274, April.
    8. Seppo Salo & Olli Tahvonen, 2004. "Renewable Resources with Endogenous Age Classes and Allocation of Land," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 513-530.
    9. 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.
    10. 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.
    11. Brent Sohngen & Robert Mendelsohn, 2003. "An Optimal Control Model of Forest Carbon Sequestration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(2), pages 448-457.
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