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Transfers and Environmental Co-Benefits of Carbon Sequestration in Agricultural Soils: Retiring Agricultural Land in the Upper Mississippi River Basin

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  • Feng, Hongli
  • Kurkalova, Lyubov A.
  • Kling, Catherine L.
  • Gassman, Philip W.

Abstract

This study investigates the carbon sequestration potential and co-benefits from policies aimed at retiring agricultural land in the Upper Mississippi River Basin, a large, heavily agricultural area. We extend the empirical measurement of co-benefits from the previous focus on environmental benenfits to include economic transfers. These transfers have often been mentioned as a co-benenfit, but little empirical work measruring the potential magnitude of these transfers has previously been undertaken. We compare and contrast five targeting schemes, each based on maximizing different physical environmental measures, including carbon sequestration, soil erosion, nitrogen runoff, nitrogen leaching, as well as the area enrolled in the program. In each case, the other environmental benefits and economic transfers are computed. We find that the geographic distribution of co-benefits (including economic transfers) varies significantly with the benefit targeted, implying that policy design related to targeting can have very important implications for both environmental condition and income distributions in sub-regions.

Suggested Citation

  • Feng, Hongli & Kurkalova, Lyubov A. & Kling, Catherine L. & Gassman, Philip W., 2005. "Transfers and Environmental Co-Benefits of Carbon Sequestration in Agricultural Soils: Retiring Agricultural Land in the Upper Mississippi River Basin," Staff General Research Papers Archive 12439, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genres:12439
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    References listed on IDEAS

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    1. Burtraw, Dallas & Krupnick, Alan & Palmer, Karen & Paul, Anthony & Toman, Michael & Bloyd, Cary, 2003. "Ancillary benefits of reduced air pollution in the US from moderate greenhouse gas mitigation policies in the electricity sector," Journal of Environmental Economics and Management, Elsevier, vol. 45(3), pages 650-673, May.
    2. Andrew J. Plantinga & JunJie Wu, 2003. "Co-Benefits from Carbon Sequestration in Forests: Evaluating Reductions in Agricultural Externalities from an Afforestation Policy in Wisconsin," Land Economics, University of Wisconsin Press, vol. 79(1), pages 74-85.
    3. Zhao, Jinhua & Kurkalova, Lyubov A. & Kling, Catherine L., 2004. "Alternative Green Payment Policies When Multiple Benefits Matter," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 33(1), pages 1-11, April.
    4. Kurkalova, Lyubov A. & Kling, Catherine L. & Zhao, Jinhua, 2003. "Multiple Benefits of Carbon-Friendly Agricultural Practices: Empirical Assessment of Conservation Tillage in Iowa," Staff General Research Papers Archive 10194, Iowa State University, Department of Economics.
    5. Zhao, Jinhua & Kling, Catherine L. & Kurkalova, Lyubov A., 2003. "Alternative Green Payment Policies Under Heterogeneity When Multiple Benefits Matter," Staff General Research Papers Archive 10682, Iowa State University, Department of Economics.
    6. Schneider, Uwe A. & Kumar, Pushpam, 2008. "Greenhouse Gas Mitigation through Agriculture," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 23(1), pages 1-5.
    7. Matthews, Stephen & O'Connor, Raymond & Plantinga, Andrew J., 2002. "Quantifying the impacts on biodiversity of policies for carbon sequestration in forests," Ecological Economics, Elsevier, vol. 40(1), pages 71-87, January.
    8. Feather, Peter & Hellerstein, Daniel & Hansen, LeRoy T., 1999. "Economic Valuation of Environmental Benefits and the Targeting of Conservation Programs: The Case of the CRP," Agricultural Economics Reports 34027, United States Department of Agriculture, Economic Research Service.
    9. Alig, Ralph J. & Adams, Darius M. & McCarl, Bruce A., 1998. "Ecological and economic impacts of forest policies: interactions across forestry and agriculture," Ecological Economics, Elsevier, vol. 27(1), pages 63-78, October.
    10. Ralph Alig & Darius Adams & Bruce McCarl & J. Callaway & Steven Winnett, 1997. "Assessing effects of mitigation strategies for global climate change with an intertemporal model of the U.S. forest and agriculture sectors," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 9(3), pages 259-274, April.
    11. Elbakidze, Levan & McCarl, Bruce A., 2004. "Should We Consider the Co-Benefits of Agricultural GHG Offsets?," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 19(3), pages 1-2.
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    Cited by:

    1. Hediger, Werner, 2009. "The non-permanence of optimal soil carbon sequestration," 83rd Annual Conference, March 30 - April 1, 2009, Dublin, Ireland 51057, Agricultural Economics Society.
    2. Rodríguez-Entrena, Macario & Espinosa-Goded, María & Barreiro-Hurlé, Jesús, 2014. "The role of ancillary benefits on the value of agricultural soils carbon sequestration programmes: Evidence from a latent class approach to Andalusian olive groves," Ecological Economics, Elsevier, vol. 99(C), pages 63-73.
    3. Balderas Torres, Arturo & MacMillan, Douglas C. & Skutsch, Margaret & Lovett, Jon C., 2015. "Reprint of ‘Yes-in-my-backyard’: Spatial differences in the valuation of forest services and local co-benefits for carbon markets in México," Ecological Economics, Elsevier, vol. 117(C), pages 283-294.
    4. Yong Jiang & Won Koo, 2014. "The Short-Term Impact of a Domestic Cap-and-Trade Climate Policy on Local Agriculture: A Policy Simulation with Producer Behavior," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(4), pages 511-537, August.
    5. Balderas Torres, Arturo & MacMillan, Douglas C. & Skutsch, Margaret & Lovett, Jon C., 2015. "‘Yes-in-my-backyard’: Spatial differences in the valuation of forest services and local co-benefits for carbon markets in México," Ecological Economics, Elsevier, vol. 109(C), pages 130-141.

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