Carbon sequestration and uneven-aged management of loblolly pine stands in the Southern USA: A joint optimization approach

Parajuli, Rajan; Chang, Sun Joseph

doi:10.1016/j.forpol.2012.05.003

Cited by 26 publications

(17 citation statements)

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“…As C markets gain stature, determining the qualities of C pricing mechanisms sufficient to shift forest management towards C sequestration is an increasing priority. (23) Carbon prices have shown instability in some markets, (24) and the creation of broader-reaching C pricing schemes could shift management toward greater C sequestration as the price of C increases. (25) However, variability in the price of C makes the utility of C trading schemes to improve forest management for increased C storage difficult to predict.…”

Section: Introductionmentioning

confidence: 99%

“…(25) However, variability in the price of C makes the utility of C trading schemes to improve forest management for increased C storage difficult to predict. (26) For example, increasing C prices were insufficient to promote alternative lower-harvest management in Pinus taeda L. forests, (23) though Murray (27) found increasing C prices would increase rotation length in simulated Douglas-fir stands. Some carbon markets minimize price uncertainty and associated financial risk, such as the California cap-and-trade system's price floor starting at $10 per carbon credit.…”

Section: Introductionmentioning

confidence: 99%

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The Effect of Forest Management Strategy on Carbon Storage and Revenue in Western Washington: A Probabilistic Simulation of Tradeoffs

2016

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The objectives of this study are to understand tradeoffs between forest carbon and timber values, and evaluate the impact of uncertainty in improved forest management (IFM) carbon offset projects to improve forest management decisions. The study uses probabilistic simulation of uncertainty in financial risk for three management scenarios (clearcutting in 45- and 65-year rotations and no harvest) under three carbon price schemes (historic voluntary market prices, cap and trade, and carbon prices set to equal net present value (NPV) from timber-oriented management). Uncertainty is modeled for value and amount of carbon credits and wood products, the accuracy of forest growth model forecasts, and four other variables relevant to American Carbon Registry methodology. Calculations use forest inventory data from a 1,740 ha forest in western Washington State, using the Forest Vegetation Simulator (FVS) growth model. Sensitivity analysis shows that FVS model uncertainty contributes more than 70% to overall NPV variance, followed in importance by variability in inventory sample (3-14%), and short-term prices for timber products (8%), while variability in carbon credit price has little influence (1.1%). At regional average land-holding costs, a no-harvest management scenario would become revenue-positive at a carbon credit break-point price of $14.17/Mg carbon dioxide equivalent (CO e). IFM carbon projects are associated with a greater chance of both large payouts and large losses to landowners. These results inform policymakers and forest owners of the carbon credit price necessary for IFM approaches to equal or better the business-as-usual strategy, while highlighting the magnitude of financial risk and reward through probabilistic simulation.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The Effect of Forest Management Strategy on Carbon Storage and Revenue in Western Washington: A Probabilistic Simulation of Tradeoffs

2016

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“…Multiple-benefit forestry economic models are less frequent for uneven-aged stands, even though uneven forest structures are recognized for their biological, hydrological and aesthetic benefits [19]. Some exceptions include the use of uneven-aged forest management models to analyze the economic implications of maintaining certain levels of tree biodiversity [9,19,20], or the integration of carbon benefits into forest management decisions [21,22].…”

Section: Introductionmentioning

confidence: 99%

Optimal Harvesting Decision Paths When Timber and Water Have an Economic Value in Uneven Forests

Ovando

Speich

2020

Forests

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We developed an uneven-aged forest economic decision-making framework that combines: (i) a size-structured matrix model, based on growth and mortality predictions of a dynamic process-based forest landscape model, (ii) an optimal control model that determines the dynamics of control and state variables, which in turn are defined by tree harvesting and forest stock, respectively, and (iii) a water yield function that depends on changes in the leaf area index (LAI), the latter being affected by forest management. This framework was used to simulate the effects of economic-driven harvesting decisions on water yields on a catchment of South-Western Swiss Alps when both timber and water benefits are considered. Water benefits are estimated as environmental prices considering current water demands for drinking, irrigation and hydropower production. We simulated optimal harvesting decisions given the initial forest structure at each 200 m × 200 m grid cells, a set of restrictions to harvesting, and specific species survival, recruitment and growth probabilities, all of which are affected by the stand’s LAI. We applied this model using different harvesting restriction levels over a period of 20 to 40-years, and accounting for single and joint timber and water benefits. The results suggested that at the environmental prices estimated at the catchment area, water benefits have a slight influence on harvesting decisions, but when water is accounted for, harvesting decisions would include more tree species and different diameter classes, which, in principle, is expected to favor more diverse forest structures.

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“…While most models attempt to circumvent the dynamic complexities of optimizing uneven-aged management 1 , Haight (1985) and Haight and Getz (1987) specify and numerically compute a theoretically sound dynamic optimization model for uneven-aged management. In another line of research, Chang (1981) and Chang and Gadow (2010) study optimal partial cutting cycles and growing stocks in uneven-aged stands, while Parajuli and Chang (2012) extend the model with carbon sequestration. Recently it has been shown that both clearcut and continuous cover management can be covered by a single framework (Tahvonen 2015(Tahvonen , 2016.…”

Section: Introductionmentioning

confidence: 99%

Optimal carbon storage in even- and uneven-aged forestry

Assmuth

Tahvonen

2018

Forest Policy and Economics

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We study the effects of forest carbon storage on optimal stand management by applying a model where optimal harvests are partial cuttings, implying uneven-aged forestry, or both partial cuttings and clearcuts, implying even-aged forestry. Optimal carbon storage postpones partial cuttings and increases stand volume along the rotation. Carbon pricing may shorten or lengthen the rotation period depending on interest rate and speed of carbon release from wood products. If the carbon price is high, the shadow value of forest biomass is negative, implying that a higher interest rate leads to higher stand density. In empirically realistic examples, carbon pricing causes a switch from clearcuts to continuous cover management rather than vice versa.

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Carbon sequestration and uneven-aged management of loblolly pine stands in the Southern USA: A joint optimization approach

Abstract: and Agribusiness for their comments and suggestions to improve the thesis quality. I would also like to thank Dr. Quang V. Cao for his practical guidance and suggestions.

Cited by 26 publications

References 50 publications

The Effect of Forest Management Strategy on Carbon Storage and Revenue in Western Washington: A Probabilistic Simulation of Tradeoffs

The Effect of Forest Management Strategy on Carbon Storage and Revenue in Western Washington: A Probabilistic Simulation of Tradeoffs

Optimal Harvesting Decision Paths When Timber and Water Have an Economic Value in Uneven Forests

Optimal carbon storage in even- and uneven-aged forestry

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