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Is forest sequestration at the expense of bioenergy and forest products cost-effective in EU climate policy to 2050?

Münnich Vass, Miriam and Elofsson, Katarina (2013). Is forest sequestration at the expense of bioenergy and forest products cost-effective in EU climate policy to 2050? Uppsala: (NL, NJ) > Dept. of Economics, Sveriges lantbruksuniversitet. Working paper series / Swedish University of Agricultural Sciences, Department of Economics ; 2013:11
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Abstract

Forest management affects the quantity of CO2 emissions in the atmosphere by carbon sequestration in standing biomass, carbon storage in forest products and production of bioenergy that replace fossil fuels. The main question in this paper is whether forest sequestration is worth increasing at the expense of bioenergy and forest products to achieve EU’s emission reduction target to 2050 cost-effectively. The assessment is based on numerical calculations using a dynamic, partial equilibrium model of cost-effective solutions, where three abatement methods in the forest sector are included together with abatement in the fossil fuel sector. The results show that forest sequestration in standing biomass is cost-effective compared to bioenergy. When sequestration is taken into account, net present costs for meeting EU carbon targets can be reduced by 18%. This is achieved through an increase in annual carbon sequestration by 30-158 million ton CO2. The overall cost of reaching the 80 per cent carbon reduction target amounts to 2,002 billion Euros when sequestration is included in the policy, but increases to 2,371 billion Euros without sequestration. Results suggest that forests can serve as a cost-efficient carbon sink over the considered time period.

Authors/Creators:Münnich Vass, Miriam and Elofsson, Katarina
Title:Is forest sequestration at the expense of bioenergy and forest products cost-effective in EU climate policy to 2050?
Series/Journal:Working paper series / Swedish University of Agricultural Sciences, Department of Economics (1401-4068)
Year of publishing :20 November 2013
Volume:2013:09
Number:2013:11
Page range:1-64
Number of Pages:64
Place of Publication:Uppsala
Publisher:Department of Economics, Swedish University of Agricultural Sciences
ISSN:1401-4068
Language:English
Publication Type:Report
Version:Submitted version
Full Text Status:Public
Agris subject categories.:E Economics, development, and rural sociology > E11 Land economics and policies
Subjects:(A) Swedish standard research categories 2011 > 5 Social Sciences > 502 Economics and Business > Economics
Keywords:Forest sequestration, bioenergy, cost-effectiveness
URN:NBN:urn:nbn:se:slu:epsilon-e-1710
Permanent URL:
http://urn.kb.se/resolve?urn=urn:nbn:se:slu:epsilon-e-1710
ID Code:10903
Faculty:NL - Faculty of Natural Resources and Agricultural Sciences (until 2013)
Department:(NL, NJ) > Dept. of Economics
Deposited By: Mrs Miriam Munnich Vass
Deposited On:21 Nov 2013 11:03
Metadata Last Modified:06 Nov 2015 11:58

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