Carbon Sequestration, Co-Benefits, and Conservation Programs
AbstractLand use changes to sequester carbon also provide ï¾“co-benefits,ï¾” 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 ï¾“co-benefitsï¾” would have increased or decreased.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12220.
Date of creation: 19 Nov 2004
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Publication status: Published in Choices, Third Quarter 2004,, pp. 19-23
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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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).
- Hongli Feng & Catherine L. Kling & Philip W. Gassman, 2004. "Carbon Sequestration, Co-Benefits, and Conservation Programs," Center for Agricultural and Rural Development (CARD) Publications 04-wp379, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- 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.
- NEP-ALL-2004-11-22 (All new papers)
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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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