Climate Change and the Cost of Carbon Sequestration: The Case of Forest Management
The Kyoto protocol allows Annex I countries to deduct carbon sequestered by land use, land-use change and forestry from their national carbon emissions. Thornley and Cannell (2000) demonstrated that the objectives of maximizing timber and carbon sequestration are not complementary. Based on this finding, this paper determines the optimal selective management regime taking into account the underlying biophysical and economic processes. The results show that the net benefits of carbon storage only compensate the decrease in net benefits of timber production once the carbon price has exceeded a certain threshold value. The sequestration costs are significantly lower than previous estimates.
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- Xabadia, Angels & Goetz, Renan U., 2010.
"The optimal selective logging regime and the Faustmann formula,"
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"Economics of Forest Ecosystem Carbon Sinks: A Review,"
2007-02, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
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"The Economic Value of a Forested Catchment with Timber, Water and Carbon Sequestration Benefits,"
Department of Economics - Working Papers Series
753, The University of Melbourne.
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- 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.
- Renan Goetz & Angels Xabadia & Elena Calvo, 2011. "Optimal Forest Management in the Presence of Intraspecific Competition," Mathematical Population Studies, Taylor & Francis Journals, vol. 18(3), pages 151-171.
- Lubowski, Ruben & Plantinga, Andrew & Stavins, Robert, 2005.
"Land-Use Change and Carbon Sinks: Econometric Estimation of the Carbon Sequestration Supply Function,"
Working Paper Series
rwp05-001, Harvard University, John F. Kennedy School of Government.
- 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.
- Tassone, Valentina C. & Wesseler, Justus & Nesci, Francesco S., 2004. "Diverging incentives for afforestation from carbon sequestration: an economic analysis of the EU afforestation program in the south of Italy," Forest Policy and Economics, Elsevier, vol. 6(6), pages 567-578, October.
- van 't Veld, Klaas & Plantinga, Andrew, 2005. "Carbon sequestration or abatement? The effect of rising carbon prices on the optimal portfolio of greenhouse-gas mitigation strategies," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 59-81, July.
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