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Using Markets for Woody Biomass Energy to Sequester Carbon in Forests

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  • Alice Favero
  • Robert Mendelsohn

Abstract

Although storing more carbon in forests should be part of an efficient mitigation program, it is unclear how to create effective incentives to make this happen. The literature largely has focused on giving landowners direct incentives to store carbon. This paper explores an alternative mechanism to increase forest carbon sequestration by creating a market for wood bioenergy. By raising the value of wood, the program encourages landowners to convert vast amounts of land to forest, which incidentally increases forest carbon. By providing an indirect subsidy on woody biomass, governments can give even more incentive to reward this carbon sequestration.

Suggested Citation

  • Alice Favero & Robert Mendelsohn, 2014. "Using Markets for Woody Biomass Energy to Sequester Carbon in Forests," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 1(1), pages 75-95.
  • Handle: RePEc:ucp:jaerec:doi:10.1086/676033
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    7. Valentina Bosetti, Carlo Carraro, Marzio Galeotti, Emanuele Massetti, Massimo Tavoni, 2006. "A World induced Technical Change Hybrid Model," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 13-38.
    8. Bosetti, Valentina & Longden, Thomas, 2013. "Light duty vehicle transportation and global climate policy: The importance of electric drive vehicles," Energy Policy, Elsevier, vol. 58(C), pages 209-219.
    9. Kenneth Richards & Krister Andersson, 2001. "The leaky sink: persistent obstacles to a forest carbon sequestration program based on individual projects," Climate Policy, Taylor & Francis Journals, vol. 1(1), pages 41-54, March.
    10. Roger A. Sedjo & Gregg Marland, 2003. "Inter-trading permanent emissions credits and rented temporary carbon emissions offsets: some issues and alternatives," Climate Policy, Taylor & Francis Journals, vol. 3(4), pages 435-444, December.
    11. Rose, Steven K. & Ahammad, Helal & Eickhout, Bas & Fisher, Brian & Kurosawa, Atsushi & Rao, Shilpa & Riahi, Keywan & van Vuuren, Detlef P., 2012. "Land-based mitigation in climate stabilization," Energy Economics, Elsevier, vol. 34(1), pages 365-380.
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    Cited by:

    1. repec:spr:climat:v:144:y:2017:i:2:d:10.1007_s10584-017-2034-9 is not listed on IDEAS
    2. repec:eee:resene:v:50:y:2017:i:c:p:124-134 is not listed on IDEAS
    3. Favero, Alice & Mendelsohn, Robert & Sohngen, Brent, 2016. "Carbon Storage and Bioenergy: Using Forests for Climate Mitigation," MITP: Mitigation, Innovation and Transformation Pathways 232215, Fondazione Eni Enrico Mattei (FEEM).
    4. Johnston, Craig M.T. & van Kooten, G. Cornelis, 2016. "Global trade impacts of increasing Europe's bioenergy demand," Journal of Forest Economics, Elsevier, vol. 23(C), pages 27-44.
    5. repec:wsi:ccexxx:v:06:y:2015:i:01:n:s2010007815500025 is not listed on IDEAS
    6. Withers, Mitch R. & Malina, Robert & Barrett, Steven R.H., 2015. "Carbon, climate, and economic breakeven times for biofuel from woody biomass from managed forests," Ecological Economics, Elsevier, vol. 112(C), pages 45-52.
    7. Randall Jackson & Péter Járosi & Amir B. Ferreira Neto & Elham Erfanian, 2017. "Woody Biomass Processing and Rural Regional Development," Working Papers Working Paper 2017-01, Regional Research Institute, West Virginia University.

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