Carbon sequestration through the planting of multi-annual energy crops: A dynamic and spatial assessment
In this study, we examine the spatial and dynamic implications of policies aimed at increasing carbon sequestration in agricultural soils. We consider incentive mechanisms designed to encourage the planting of energy multi-annual crops that allow higher carbon sequestration rates for a longer period of time. By using a dynamic micro-economic model, we simulate the sequence of crop plantings over a given time horizon and investigate different payment mechanisms (per-ton or per-hectare). We discuss their implications in terms of regulation policy and efficiency. This model is then applied to the Central Plains of Thessaly, Greece, to assess the marginal costs of carbon sequestration and the optimal timing of switching to multi-annual energy crops. To do so, we combine the dynamic microeconomic model with a carbon accounting model and a geophysical database. We assess the efficiency loss of constant per-hectare payments compared to per-ton mechanisms. The dynamic and spatial implications of these mechanisms are compared and discussed.
|Date of creation:||01 Oct 2004|
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- Newell, Richard G. & Stavins, Robert N., 2000.
"Climate Change and Forest Sinks: Factors Affecting the Costs of Carbon Sequestration,"
Journal of Environmental Economics and Management,
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- Feng, Hongli & Zhao, Jinhua & Kling, Catherine L., 2002. "Time Path and Implementation of Carbon Sequestration (The)," Staff General Research Papers 5068, Iowa State University, Department of Economics.
- repec:inr:wpaper:156214 is not listed on IDEAS
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- Antle, John & Capalbo, Susan & Mooney, Sian & Elliott, Edward & Paustian, Keith, 2003. "Spatial heterogeneity, contract design, and the efficiency of carbon sequestration policies for agriculture," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 231-250, September.
- Hongli Feng, 2002. "Dynamics of Carbon Sequestration and Measures of Cost-Effectiveness, The," Center for Agricultural and Rural Development (CARD) Publications 02-wp320, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- S De Cara & P-A Jayet, 2000. "Emissions of greenhouse gases from agriculture: the heterogeneity of abatement costs in France," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 27(3), pages 281-303, September.
- de Cara, Stephane & Jayet, Pierre-Alain, 2001. "Agriculture And Climate Change In The Eu: Greenhouse Gas Emissions And Abatement Costs," 2001 Annual meeting, August 5-8, Chicago, IL 20577, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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