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Afforestation and Timber Management Compliance Strategies in Climate Policy. A Computable General Equilibrium Analysis

Author

Listed:
  • Melania Michetti

    (Fondazione Eni Enrico Mattei)

  • Renato Nunes Rosa

    (Fondazione Eni Enrico Mattei)

Abstract
This paper analyzes the role of afforestation-reforestation and timber management activities, and their major and secondary economic effects in stabilizing climate during the first commitment period of the Kyoto Protocol. In particular, with a Computable General Equilibrium framework, the ICES model, it is inferred how forest carbon sequestration fits within the European domestic portfolio of a 2020-20 and 2020-30 climate stabilization policy. Afforestation and land use are accounted for by introducing their effects in the model. This is done by relying on carbon sequestration curves provided by Sohngen (2005), which describe the average annual cost of sequestration for selected world regions. Results show that afforestation and timber management could lead to substantially lower policy costs if included. By allowing afforestation alone it is possible to achieve the 30% emissions reduction target with an additional European effort of only 0.2% compared with the cost of a 20% emissions reduction without afforestation. The introduction of these alternatives for mitigating climate is expected to reduce carbon price by around 30% in 2020 and the already contained leakage effect (around 1%), coming from an independent European commitment, by 0.2%.

Suggested Citation

  • Melania Michetti & Renato Nunes Rosa, 2011. "Afforestation and Timber Management Compliance Strategies in Climate Policy. A Computable General Equilibrium Analysis," Working Papers 2011.04, Fondazione Eni Enrico Mattei.
    • Handle: RePEc:fem:femwpa:2011.04
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    Citations

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    Cited by:

    1. Mohammad Zahangeer Alam & Md Manjurul Haque & Mimi Talukdar & Md Moniruzzaman & Joan Halsey & Alex R Crump & Md Abdul Qayum & Hasan Mohammad Abdullah Author-Workplace-Name: Department of Agroforestry , 2018. "Effect of Natural Disasters and their Coping Strategies in the Kuakata Coastal Belt of Patuakhali Bangladesh," International Journal of Environmental Sciences & Natural Resources, Juniper Publishers Inc., vol. 14(4), pages 105-119, September.
    2. Marc Vielle, 2020. "Navigating various flexibility mechanisms under European burden-sharing," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 22(2), pages 267-313, April.
    3. Monge, Juan J. & Bryant, Henry L. & Gan, Jianbang & Richardson, James W., 2016. "Land use and general equilibrium implications of a forest-based carbon sequestration policy in the United States," Ecological Economics, Elsevier, vol. 127(C), pages 102-120.
    4. Gren, Ing-Marie & Carlsson, Mattias & Elofsson, Katarina & Munnich, Miriam, 2012. "Stochastic carbon sinks for combating carbon dioxide emissions in the EU," Energy Economics, Elsevier, vol. 34(5), pages 1523-1531.
    5. Carol McAusland & Nouri Najjar, 2015. "Carbon Footprint Taxes," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(1), pages 37-70, May.
    6. Gren, Ing-Marie & Zeleke, Abenezer Aklilu, 2016. "Policy design for forest carbon sequestration: A review of the literature," Forest Policy and Economics, Elsevier, vol. 70(C), pages 128-136.
    7. Xinyue Yang & Ye Song & Mingjun Sun & Hongjun Peng, 2020. "Strategies for Capital Constrained Timber and Carbon Sink Supply Chain under the Cap-and-Trade Scheme," Sustainability, MDPI, vol. 12(11), pages 1-15, May.
    8. Gren, Ing-Marie & Carlsson, Mattias, 2013. "Economic value of carbon sequestration in forests under multiple sources of uncertainty," Journal of Forest Economics, Elsevier, vol. 19(2), pages 174-189.
    9. Melania Michetti & Matteo Zampieri, 2014. "Climate–Human–Land Interactions: A Review of Major Modelling Approaches," Land, MDPI, vol. 3(3), pages 1-41, July.
    10. Gren, Ing-Marie Gren & Elofsson, Katarina, 2013. "Value of land use for carbon sequestration: An application to the EU climate policy," Working Paper Series 2012:4, Swedish University of Agricultural Sciences, Department Economics.

    More about this item

    Keywords

    Climate Change; General Equilibrium Modelling; Forestry; Afforestation;
    All these keywords.

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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