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The timing of biological carbon sequestration and carbon abatement in the energy sector under optimal strategies against climate risks

Author

Listed:
  • V. Gitz

    (Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement)

  • Jean Charles Hourcade

    (Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement)

  • Philippe Ciais

    (LSCE - Laboratoire des Sciences du Climat et de l'Environnement [Gif-sur-Yvette] - UVSQ - Université de Versailles Saint-Quentin-en-Yvelines - INSU - CNRS - Institut national des sciences de l'Univers - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - DRF (CEA) - Direction de Recherche Fondamentale (CEA) - CEA - Commissariat à l'énergie atomique et aux énergies alternatives, ICOS-ATC - ICOS-ATC - LSCE - Laboratoire des Sciences du Climat et de l'Environnement [Gif-sur-Yvette] - UVSQ - Université de Versailles Saint-Quentin-en-Yvelines - INSU - CNRS - Institut national des sciences de l'Univers - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - DRF (CEA) - Direction de Recherche Fondamentale (CEA) - CEA - Commissariat à l'énergie atomique et aux énergies alternatives)

Abstract

This paper addresses the timing of the use of biological carbon sequestration and its capacity to alleviate the carbon constraint on the energy sector. We constructed a stochastic optimal control model balancing the costs of fossil emission abatement, the opportunity costs of lands allocated to afforestation, and the costs of uncertain climate damages. We show that a minor part of the sequestration potential should start immediately as a "brake" slowing down both the rate of growth of concentrations and the rate of abatement in the energy sector, thus increasing the option value of the emission trajectories. But, most of the potential is put in reserve to be used as a "safety valve" after the resolution of uncertainty, if a higher and faster decarbonization is required: sequestration cuts off the peaks of costs of fossil abatement and postpones the pivoting of the energy system by up to two decades. Copyright © 2006 by the IAEE. All rights reserved.

Suggested Citation

  • V. Gitz & Jean Charles Hourcade & Philippe Ciais, 2006. "The timing of biological carbon sequestration and carbon abatement in the energy sector under optimal strategies against climate risks," Post-Print hal-00719282, HAL.
    • Handle: RePEc:hal:journl:hal-00719282
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    Cited by:

    1. Haim, David & Plantinga, Andrew J. & Thomann, Enrique, 2014. "The optimal time path for carbon abatement and carbon sequestration under uncertainty: The case of stochastic targeted stock," Resource and Energy Economics, Elsevier, vol. 36(1), pages 151-165.
    2. Tavoni, Massimo & Sohngen, Brent & Bosetti, Valentina, 2007. "Forestry and the carbon market response to stabilize climate," Energy Policy, Elsevier, vol. 35(11), pages 5346-5353, November.
    3. H. Böttcher & A. Freibauer & Y. Scholz & V. Gitz & Philippe Ciais & M. Mund & T. Wutzler & E.-D. Schulze, 2012. "Setting priorities for land management to mitigate climate change," Post-Print hal-00716172, HAL.

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