Forest Investment Framework as a Support Tool for the Sustainable Management of Planted Forests

Richard Yao (), David Palmer, Barbara Hock, Duncan Harrison, Tim Payn and Juan Monge
Additional contact information
David Palmer: Scion (New Zealand Forest Research Institute Ltd.), Private Bag 3020, Rotorua 3046, New Zealand
Barbara Hock: Candleford, P.O. Box 7365, Rotorua 3042, New Zealand
Duncan Harrison: Sector Partnerships and Programmes, Ministry for Primary Industries, Gisborne 4010, New Zealand
Tim Payn: Scion (New Zealand Forest Research Institute Ltd.), Private Bag 3020, Rotorua 3046, New Zealand
Juan Monge: Scion (New Zealand Forest Research Institute Ltd.), Private Bag 3020, Rotorua 3046, New Zealand

Sustainability, 2019, vol. 11, issue 12, 1-22

Abstract: Planted forest ecosystems provide a wide range of goods and services such as timber, carbon sequestration, and avoided erosion. However, only ecosystem services with market values (e.g., timber) are usually represented in decision making while those with non-market values (e.g., avoided erosion) that are difficult to quantify are often ignored. A spatial economic tool, the Forest Investment Framework (FIF), integrates data from forest growth models with spatial, biophysical, and economic data, to quantify the broader value of planted forests and to represent non-market values in sustainable forest management. In this paper, we have tested the applicability of FIF in three types of case studies: assessment of afforestation feasibility, regional economic analyses, and ecosystem service assessment. This study provides evidence that a spatial economic tool that quantifies the economic, environmental, and social values of the planted forest ecosystem is valuable in informing land management decisions for maintaining and enhancing the provision of market and non-market ecosystem services to society.

Keywords: ecosystem services; spatial economic framework; market value; non-market value; policy; New Zealand (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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