Rethinking Baselines: An Efficiency-based Approash to Better REDD+ Governance

Majah-Leah Ravago and James Roumasset

No 201515, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: We present an approach for determining dynamic baselines for Reducing Emissions from Deforestation and Degradation plus sequestration (REDD+) based on the efficient path of forest emissions absent carbon prices. We show that, unlike industrial emissions, baseline emission permits for forests should be negative. Positive entitlements for forest emissions are unnecessary and may be ineffective in the absence of additional governance mechanisms. A numerical illustration for the case of Indonesia shows that the potential gains from the efficiency-based approach are nearly twice those from conventional REDD+ proposals.

Keywords: Governance; REDD+; deforestation; carbon emissions; sequestration; climate change (search for similar items in EconPapers)
JEL-codes: Q23 Q28 Q54 Q57 (search for similar items in EconPapers)
Date: 2015-11
New Economics Papers: this item is included in nep-agr, nep-eff, nep-env and nep-sea
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