Howland Forest, ME, USA: Multi-Gas Flux (CO 2, CH 4, N 2 O) Social Cost Product Underscores Limited Carbon Proxies

Bruno D. V. Marino, Nahuel Bautista and Brandt Rousseaux
Additional contact information
Bruno D. V. Marino: Executive Management, Planetary Emissions Management Inc., Cambridge, MA 02139, USA
Nahuel Bautista: Executive Management, Planetary Emissions Management Inc., Cambridge, MA 02139, USA
Brandt Rousseaux: Executive Management, Planetary Emissions Management Inc., Cambridge, MA 02139, USA

Land, 2021, vol. 10, issue 4, 1-17

Abstract: Forest carbon sequestration is a widely accepted natural climate solution. However, methods to determine net carbon offsets are based on commercial carbon proxies or CO 2 eddy covariance research with limited methodological comparisons. Non-CO 2 greenhouse gases (GHG) (e.g., CH 4 , N 2 O) receive less attention in the context of forests, in part, due to carbon denominated proxies and to the cost for three-gas eddy covariance platforms. Here we describe and analyze results for direct measurement of CO 2 , CH 4 , and N 2 O by eddy covariance and forest carbon estimation protocols at the Howland Forest, ME, the only site where these methods overlap. Limitations of proxy-based protocols, including the exclusion of sink terms for non-CO 2 GHGs, applied to the Howland project preclude multi-gas forest products. In contrast, commercial products based on direct measurement are established by applying molecule-specific social cost factors to emission reductions creating a new forest offset (GHG-SCF), integrating multiple gases into a single value of merit for forest management of global warming. Estimated annual revenue for GHG-SCF products, applicable to the realization of a Green New Deal, range from ~$120,000 USD covering the site area of ~557 acres in 2021 to ~$12,000,000 USD for extrapolation to 40,000 acres in 2040, assuming a 3% discount rate. In contrast, California Air Resources Board compliance carbon offsets determined by the Climate Action Reserve protocol show annual errors of up to 2256% relative to eddy covariance data from two adjacent towers across the project area. Incomplete carbon accounting, offset over-crediting and inadequate independent offset verification are consistent with error results. The GHG-SCF product contributes innovative science-to-commerce applications incentivizing restoration and conservation of forests worldwide to assist in the management of global warming.

Keywords: California Air Resources Board; Climate Action Reserve; eddy covariance; Howland Forest; social cost of CO 2; CH 4; N 2 O (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2073-445X/10/4/436/pdf (application/pdf)
https://www.mdpi.com/2073-445X/10/4/436/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:10:y:2021:i:4:p:436-:d:539399

Access Statistics for this article

Land is currently edited by Ms. Carol Ma

More articles in Land from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().