The forest-based bioeconomy in Latvia: economic and environmental importance

Vineta Tetere, Jack Peerlings and Liesbeth Dries

Bio-based and Applied Economics Journal, 2023, vol. 12, issue 4

Abstract: The bioeconomy is considered a means to achieving a climate-neutral economy as aimed for in the EU Green Deal. For Latvia, the forest-based bioeconomy has the potential to contribute to this aim. An operational definition of the forest-based bioeconomy is needed to calculate its size. This research aims to provide such a definition and to determine the contribution of the forest-based bioeconomy to GDP, employment, and greenhouse gas emissions. The direct and indirect contribution of the forest-based bioeconomy to economic indicators and climate change is identified using an input-output model. The results of the model show that the forest-based bioeconomy contributes 6.4% to GDP and 6.6% to total employment in Latvia. The contribution to greenhouse gas emissions is 4.9%. Furthermore, if CO2 sequestration is included, the forest-based bioeconomy becomes climate neutral.

Keywords: Climate Change; Environmental Economics and Policy; Labor and Human Capital (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aieabj:347567

DOI: 10.22004/ag.econ.347567

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