Climate Change and the Cost of Carbon Sequestration: The Case of Forest Management

Natali Hritonenko, Ruben Mur, Yuri Yatsenko and Angels Xabadia
Authors registered in the RePEc Author Service: Renan Ulrich Goetz

No 329, Working Papers from Barcelona School of Economics

Abstract: The Kyoto protocol allows Annex I countries to deduct carbon sequestered by land use, land-use change and forestry from their national carbon emissions. Thornley and Cannell (2000) demonstrated that the objectives of maximizing timber and carbon sequestration are not complementary. Based on this finding, this paper determines the optimal selective management regime taking into account the underlying biophysical and economic processes. The results show that the net benefits of carbon storage only compensate the decrease in net benefits of timber production once the carbon price has exceeded a certain threshold value. The sequestration costs are significantly lower than previous estimates.

Keywords: Kyoto protocol; forest management; selective logging; carbon sequestration; dynamic optimization. (search for similar items in EconPapers)
JEL-codes: C61 Q23 Q54 (search for similar items in EconPapers)
Date: 2015-09
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