Carbon Sequestration, Co-Benefits, and Conservation Programs
AbstractLand use changes to sequester carbon also provide "co-benefits," some of which (for example, water quality) have attracted at least as much attention as carbon storage. The non-separability of these co-benefits presents a challenge for policy design. If carbon markets are employed, then social efficiency will depend on how we take into account co-benefits, that is, externalities, in such markets. If carbon sequestration is incorporated into conservation programs, then the weight given to carbon sequestration relative to its co-benefits will partly shape these programs. Using the Conservation Reserve Program (CRP) as an example, we show that CRP has been sequestering carbon, which was not an intended objective of the program. We also demonstrate that more carbon would have been sequestered had CRP targeted this objective, although the "co-benefits" would have increased or decreased.
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Bibliographic InfoPaper provided by Center for Agricultural and Rural Development (CARD) at Iowa State University in its series Center for Agricultural and Rural Development (CARD) Publications with number 04-wp379.
Date of creation: Nov 2004
Date of revision:
carbon sequestration; co-benefits; Conservation Reserve Program.;
Other versions of this item:
- Feng, Hongli & Kling, Catherine L. & Gassman, Philip W., 2004. "Carbon Sequestration, Co-Benefits, and Conservation Programs," Choices, Agricultural and Applied Economics Association, vol. 19(3).
- Feng, Hongli & Kling, Catherine L. & Gassman, Philip W., 2010. "Carbon Sequestration, Co-Benefits, and Conservation Programs," Staff General Research Papers 31453, Iowa State University, Department of Economics.
- Feng, Hongli & Kling, Catherine L. & Gassman, Philip W., 2004. "Carbon Sequestration, Co-Benefits, and Conservation Programs," Staff General Research Papers 12220, Iowa State University, Department of Economics.
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Center for Agricultural and Rural Development (CARD) Publications
04-wp365, Center for Agricultural and Rural Development (CARD) at Iowa State University.
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