Forestry and the Carbon Market Response to Stabilize Climate

Massimo Tavoni (), Valentina Bosetti and Brent Sohngen

No 2007.15, Working Papers from Fondazione Eni Enrico Mattei

Abstract: This paper investigates the potential contribution of forestry management in meeting a CO2 stabilization policy of 550 ppmv by 2100. In order to assess the optimal response of the carbon market to forest sequestration we couple two global models. An energy-economy-climate model for the study of climate policies is linked with a detailed forestry model through an iterative procedure to provide the optimal abatement strategy. Results show that forestry is a determinant abatement option and could lead to significantly lower policy costs if included. Linking forestry management to the carbon market has the potential to delay the policy burden, and is expected to reduce the price of carbon of 40% by 2050. Biological sequestration will mostly come from avoided deforestation in tropical forests rich countries. The inclusion of this mitigation option is demonstrated to crowd out some of the traditional abatement in the energy sector and to lessen induced technological change in clean technologies.

Keywords: Forestry; Climate Policy; Technological Innovation (search for similar items in EconPapers)
JEL-codes: Q23 Q52 Q55 (search for similar items in EconPapers)
Date: 2007-01
New Economics Papers: this item is included in nep-agr, nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (65)

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Related works:
Journal Article: Forestry and the carbon market response to stabilize climate (2007)
Working Paper: Forestry and the Carbon Market Response to Stabilize Climate (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2007.15

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