Optimum forest program when the carbon sequestration service of a forest has value

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Abstract

This paper develops an optimum forest program for even-aged and multi-age forest management when the carbon sequestration service of a forest has value. It is shown that for even-aged forest management, the optimum rotation might be longer or shorter than when the carbon sequestration service is not considered. For multi-age forest management, it is shown that the optimum steady state is characterized by the optimum rotation for an even-aged forest. The optimum rotation is affected by how to evaluate the carbon release after harvesting, which is a central concern for the issue of "harvested wood products" in the United Nations Framework Convention on Climate Change.

Original languageEnglish
Pages (from-to)323-343
Number of pages21
JournalEnvironmental Economics and Policy Studies
Volume13
Issue number4
DOIs
Publication statusPublished - 2011 Dec

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Keywords

  • Carbon sequestration
  • Climate change
  • Faustmann formula
  • Harvested wood products debate
  • Mitra-Wan tree farm

ASJC Scopus subject areas

  • Management, Monitoring, Policy and Law
  • Economics and Econometrics

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