Carbon Sequestration in Global Forests Under Different Carbon Price Regimes

Author

Brent Sohngen and Roger Sedjo
Authors registered in the RePEc Author Service: Brent Sohngen and Roger A. Sedjo (sedjo@rff.org)

The Energy Journal, 2006, vol. Multi-Greenhouse Gas Mitigation and Climate Policy, issue Special Issue #3, pages 109-126

Abstract: This paper examines the potential role of carbon sequestration in forests under a range of exogenously chosen carbon price paths. The price paths were chosen to simulate several different climate change policies. The results indicate that global sequestration could range from 48Ð147 Pg C by 2105 for carbon prices ranging from $100 to more than $800 per t C by the end of the century. The timing of sequestration is found to be sensitive to the assumed carbon price path. Low initial carbon prices ($10 - $20 per t C in 2010) followed by rapid price increases, as might occur if policy makers try to stabilize future concentrations, suggest little, if any, sequestration during the next 20 years (-0.2 to 4.5 Pg C). If policy makers develop policies that support higher initial carbon prices, ranging from $75 to $100 per t C, 17 to 23 Pg C could be sequestered in forests over the next 20 years. Overall, our results indicate that forestry is not an efficient stopgap measure for long-term policy goals, but that it is instead an important long-term partner with other mitigation options.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 2006
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