The impacts of tree and horticultural plantations, and grassland on soil characteristics in the degraded hills of Chittagong District, Bangladesh are reported on this paper. The carbon sequestration potential and the present value of carbon revenue flow were also estimated for the degraded hills of Chittagong using A. auriculiformis plantations for the purpose. The results showed that the change of land use from degraded hill to vegetation cover had altered the physico‐chemical characteristics of soil in the study area. The organic carbon concentration and storage under vegetated land uses were significantly (p < 0·05) higher than those in the degraded hill areas. The results also showed that about 17 million megagram carbon (MgC) could be sequestered in the degraded hill areas of Chittagong District by planting A. auriculiformis trees in a 15‐year rotation. The present value of revenue flow generated by this sequestration at the current international market carbon price and assuming a realistic market interest rate could be as high as US$ 326 million. The net present value of the revenue stream is expected to be positive. Copyright © 2011 John Wiley & Sons, Ltd.

Expansion of global industrial forest plantations, i.e. intensively managed productive plantations is evident due to the prevailing demand and supply drivers. Forest plantations alone will not be sufficient for meeting the growing industrial roundwood demand. Natural and semi-natural forests in boreal and temperate zones will maintain their important role as the raw material source. The supply from these forests, however, is not likely to increase from the current level due to the constraints related to logistics, profitability and ownership structure. Moreover, sustainable management of tropical natural forests will not result in any increase of roundwood supply. Therefore, developing the global industrial forest plantations sustainably will be crucial to meeting increasing wood demand in the long term. Sustainable development of plantations is likely to face a number of economic, environmental and social challenges, and requires strong measures from the key stakeholders such as governments, strategic and financial investors.Vision des plantations: potentiels, défis, et options de politiques pour le développement de la plantation industrielle globale des forêts S.K. BARUA, P. LEHTONEN et T. PAHKASALO La croissance des plantations industrielles globales de forêts, c.a.d. des plantations de production gerées intensivement, est évidente du fait des pressions de l'offre et de la demande. Les plantations forestières seules ne vont pas être suffisantes pour faire face à la demande industrielle croissante de bois rond. Les forêts naturelles et semi-naturelles dans les zones tempérées et boréales vont maintenir leur rôle important de source principale du matériel brut. Cependant, la production de ces forêts ne va probablement pas augmenter du fait des contraintes liées à la logistique, au profit et às la structure des propriétés. De plus, la gestion durable des forêts naturelles tropicales ne va pas résulter en un accroissement de la production de bois rond. Par conséquent, le développement durable des plantations industrielles forestières va être crucial pour pourvoir à long terme à la demande croissante de bois. Le développement durable des plantations va très probablement faire face à un nombre de défis économiques, environnementaux et sociaux, et nécessite que des mesures fermes soient prise par les principales parties prenantes tels que les gouvernements et les investisseurs financiers stratégiques.Una visión sobre plantaciones: potencial, retos y opciones de políticas públicas para el desarrollo global de plantaciones forestales con las que abastecer la industria S.K. BARUA, P. LEHTONEN y T. PAHKASALO La expansión global de las plantaciones forestales para abastecer la industria, es decir, de las plantaciones productivas bajo un manejo intensivo, es evidente si atendemos a los aspectos preponderantes que impulsan la oferta y la demanda. Las plantaciones forestales no serán suficientes, por sí solas, para satisfacer la creciente demanda de madera en rollo de uso industrial. Los bosques naturales y semi-naturales de...

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The effects of profit and land value tax on harvesting decisions of nonindustrial private forest owners are investigated. We use a model of a utility-maximizing forest owner with amenity preferences for timber, which extends the basic two-period harvesting model to include both thinning and clear-cutting harvests. It is demonstrated that with no amenity preference, the profit and land value taxes are neutral to clear-cutting and thinning decisions. Under small to medium amenity preferences, the profit tax decreases the optimal clear-cutting volumes. However, the effect on thinning may be positive or negative, depending on the amenity preference level. The total effect of the profit tax on the shortrun timber supply is negative. The effects of the land value tax contrast with those of the profit tax. Also, a tax regime with a lowered profit tax rate combined with a land value tax is analysed. It is shown to be able to bring Pareto-improvement to a regime that uses a higher profit tax but no land value tax.