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Afforestation and timber management compliance strategies in climate policy. A computable general equilibrium analysis

TitleAfforestation and timber management compliance strategies in climate policy. A computable general equilibrium analysis
Publication TypeArticolo su Rivista peer-reviewed
Year of Publication2012
AuthorsMichetti, Melania, and Rosa R.
JournalEcological Economics
Volume77
Pagination139-148
ISSN09218009
Keywordsafforestation, agricultural management, agricultural policy, carbon sequestration, Climate change, compliance, computable general equilibrium analysis, Emission control, environmental policy, European Union, Gross Domestic Product, Timber
Abstract

This paper analyzes the role of forest-based carbon sequestration in a unilateral EU27 emissions reduction policy under a Global Computable General Equilibrium (CGE) framework. Forestry mitigation is introduced into the model relying on carbon sequestration curves provided by a global forestry model. The structure of the original CGE is extended to consider land use change and timber supply effects, resulting from the use of forest sinks to reduce carbon emissions. Results show that afforestation and timber management could lead to substantially lower policy costs. By using forest-carbon sinks it is possible to achieve the 30% emissions reduction target with an additional European effort of only 0.2% of GDP compared with the cost of a 20% emissions reduction without forestry. Carbon price is also reduced, by approximately 30% in 2020. European forest-carbon sequestration may have, however, the perverse effect of increasing timber production in areas of the world which already have high deforestation rates. A sensitivity analysis on main parameters confirms the robustness of our results. © 2012 Elsevier B.V..

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URLhttps://www.scopus.com/inward/record.uri?eid=2-s2.0-84860294325&doi=10.1016%2fj.ecolecon.2012.02.020&partnerID=40&md5=f90e0358faae45c1b0f6b0740186c5c0
DOI10.1016/j.ecolecon.2012.02.020
Citation KeyMichetti2012139