California's regulatory forest carbon market: Viability for northeast landowners

Forest Policy and Economics

Volumn 50, Issue , 2015, Pages 70-81

  Kerchner, Charles D ^a,b   Keeton, William S ^a,b  

^a UNIVERSITY OF VERMONT   (United States)

^b Spatial Informatics Group ^*  (United States)

Author keywords

Cap and trade; Carbon markets; Carbon sequestration; Forest carbon; Improved forest management; Private landowners

Indexed keywords

CARBON; CLIMATE CHANGE; CLIMATE MODELS; COMMERCE; CONSERVATION; COST EFFECTIVENESS; COSTS; INVESTMENTS;

CAP AND TRADE; CARBON MARKETS; CARBON SEQUESTRATION; FOREST CARBONS; PRIVATE LANDOWNERS;

FORESTRY;

CARBON; CHELATION; FOREST MANAGEMENT;

EID: 84919458966     PISSN: 13899341     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.forpol.2014.09.005     Document Type: Article

References (65)

1. Air Resources Board (ARB) Compliance Offset Protocol U.S. Forest Projects http://www.arb.ca.gov/regact/2010/capandtrade10/copusforest.pdf.
2. Albu M., Griffiths A. Mapping the market: participatory market-chain development in practice. Small Enterp. Dev. J. 2006, 17(2):12-22.
3. Antinori C., Sathaye J. Assessing transaction costs of project-based greenhouse gas emissions trading. Report Number LBNL-57315 2007, Ernest Orlando Lawrence Berkeley National Laboratory, Berkeley, CA, (134 p.).
4. Bankowski J., Dey D., Boysen E., Woods M., Rice J. Validation of NE-TWIGS for tolerant hardwood stands in Ontario. Forest Research Information Paper 1996, 21. Ontario Ministry of Natural Resources, Ontario Forest Research Institute, Sault Ste. Marie, Ontario.
5. Birdsey R.A., Plantinga A.J., Heath L.S. Past and prospective carbon storage in United States forests. For. Ecol. Manag. 1993, 58(1-2):33-40.
6. Birdsey R., Pregitzer K., Lucier A. Forest carbon management in the United States: 1600-2100. J. Environ. Qual. 2006, 35:1461-1469.
7. Breinman L., Friedman J.H., Olshen R., Stone C. Classification and Regression Trees 1984, Wadsworth International Group, Belmont, CA, USA.
8. Brown S., Shoch D., Pearson T., Delaney M. Methods for Measuring and Monitoring Forest Carbon Projects in CA 2004, Winrock International, Arlington VA, for the Regents of California/ California Institute of Energy Efficiency.
9. Butler B. Family forest owners of the United States, 2006. Gen. Tech. Rep. NRS-27 2008, U.S. Department of Agriculture, Forest Service, Northern Research Station, Newtown Square, PA, (72 p.).
10. CAR Forest Project Protocol v 3.2. Climate Action Reserve 2010, (Los Angeles, CA).
11. Charnley S., Diaz D., Gosnell H. Mitigating climate change through small-scale forestry in the USA: opportunities and challenges. Small-scale For. 2010, 9:445-462.
12. De'ath G., Fabricius K.E. Classification and regression trees: a powerful yet simple technique for ecological data analysis. Ecology 2000, 81:3178-3192.
13. Diaz D., Hamilton K., Johnson E. State of the Forest Carbon Markets: From Canopy to Currency 2011, Ecosystem Marketplace, Washington, D.C.
14. Dickinson B.J., Stevens T.H., Lindsay M.M., Kittredge D.B. Estimated participation in U.S. carbon sequestration programs: a study of NIPF landowners in Massachusetts. J. For. Econ. 2012, 18:36-46.
15. Dixon G.E. Essential FVS: a user's guide to the Forest Vegetation Simulator. Internal Rep 2002, CO: US Department of Agriculture, Forest Service, Forest Management Service Center 193, Fort Collins.
16. Eriksson E., Gillespie A.R., Gustavsson L., Langvall O., Olsson M., Sathre R., Stendahl J. Integrated carbon analysis of forest management practices and wood substitution. Can. J. For. Res. 2007, 37:671-681.
17. Fernholz K., Bowyer J., Lindburg A. Ecosystem Markets: New Mechanisms to Support Forestry 2008, Dovetail Partners, Inc., (Report. Online at www. dovetailinc.org/files/DovetailEcoMkts0308dk.pdf).
18. Fletcher L.S., Kittredge D., Stevens T. Forest landowners' willingness to sell carbon credits: a pilot study. North. J. Appl. For. 2009, 26:35-37.
19. Foley T.G., Richter D.D., Galik C.S. Extending rotation age for carbon sequestration: a cross-protocol comparison of North American forest offsets. For. Ecol. Manag. 2009, 259:201-209.
20. Foster D.R., et al. Wildlands and Woodlands: A Vision for the New England Landscape 2010, Harvard Forest, Harvard University, Petersham, Massachusetts.
21. Franklin J.F., Spies T.A., Van Pelt R., Carey A.B., Thornburgh D.A., Rae Berg D., Lindenmayer D.B., Harmon M.E., Keeton W.S., Shaw D.C., Bible K., Chen J. Disturbances and structural development of natural forest ecosystems with silvicultural implications using Douglas-fir forests as an example. For. Ecol. Manag. 2002, 155:399-423.
22. Galatowitsch S.M. Carbon offsets as ecological restorations. Restor. Ecol. 2009, 17:563-570.
23. Galik C.S., Jackson R.B. Risks to forest carbon offset projects in a changing climate. For. Ecol. Manag. 2009, 257:2209-2216.
24. Galik C.S., Baker J.S., Grinnell J.L. Transaction costs and forest management carbon offset potential. Climate Change Policy Partnership 2009, 16. Duke University.
25. Galik C.S., Cooley D.M., Baker J.S. Analysis of the production and transaction costs of forest carbon offset projects in the USA. J. Environ. Manag. 2012, 112:128-136.
26. Gorte R., Ramseur J. Forest carbon markets: potential and drawbacks. CRS Report for Congress. Congressional Research Service. Report 7-5700 2010, 1-17.
27. Gronewold C.A., D'Amato A.W., Palik B.J. The influence of cutting cycle and stocking level on the structure and composition of managed old-growth northern hardwoods. For. Ecol. Manag. 2010, 259:1151-1160.
28. Gunn J.S., Saah D.S., Fernholz K., Ganz D. Carbon credit eligibility under area regulation of harvest levels in northern Minnesota. For. Sci. 2011, 57(6).
29. Hahn J. Tree volume and biomass equations for the Lake States. Res. Pap. NC-250 1984, 10. U.S. Department of Agriculture, Forest Service, North Central Forest Experiment Station, St. Paul, MN.
30. Harmon M.E., Marks B. Effects of silvicultural practices on carbon stores in Douglas-fir-western hemlock forests in the Pacific Northwest, USA: results from a simulation model. Can. J. For. Res. 2002, 32:863-877.
31. Heath L., Hansen M., Smith J., Smith W.B., Miles P. Investigation into calculating tree biomass and carbon in FIADB using a biomass expansion factor approach. USDA Forest Service Proceedings - RMRS-P-56 2009.
32. Heath L.S., Smith J.E., Woodall C.W., Azuma D.L., Waddell K.L. Carbon stocks on forestland of the United States, with emphasis on USDA Forest Service ownership. Ecosphere 2011, 2(1):1-21.
33. Hoover C.M., Heath L.S. Potential gains in C storage on productive forestlands in the northeastern United States through stocking management. Ecol. Appl. 2011, 21:1154-1161.
34. Huang C.H., Kronrad G.D. The cost of sequestering carbon on private forest lands. Forest Policy Econ. 2001, 2:133-142.
35. Iles K. A sampler of inventory topics: a practical discussion for resource samplers. Concentrating on Forest Inventory Techniques 2003, Kim Iles & Associates Ltd.
36. Jenkins D., Smith M.S. Carbon offsets: is there a path to market?. The Consultant 2013.
37. Kenefic L.S., Sendak P.E., Brissette J.C. Comparison of fixed diameter-limit and selection cutting in northern conifers. North. J. Appl. For. 2005, 22:77-84.
38. Kerchner C. Sustainable Financing of Protected Areas: Application of Valuation Tools to Overcome Barriers 2013, (Ph.D. Dissertation), University of Vermont, Burlington, VT.
39. Kierulff H. MIRR: a better measure. Bus. Horiz. 2008, 51:321-329.
40. Lindenmayer D.B.F., Franklin J.F., Lflhmus A., Baker S.C., Bauhus J., Beese W., Brodie A., Kiehl B., Kouki J., Pastur G.M., Messier C., Neyland M., Palik B., Sverdrup-Thygeson A., Volney J., Wayne A., Gustafsson L. A major shift to the retention approach for forestry can help resolve some global forest sustainability issues. Conserv. Lett. 2012, 10.1111/j.1755-263X.2012.00257.x.
41. Lubowski R., Plantinga A.J., Stavins R.N. Land-use change and carbon sinks: econometric estimation of the carbon sequestration supply function. J. Environ. Econ. Manag. 2006, 51:135-152.
42. Malmsheimer R.W., Heffernan P., Brink S., Crandall D., Deneke F., Galik C., Gee E., Helms J.A., McClure N., Mortimer M. Forest management solutions for mitigating climate change in the United States. J. For. 2008, 106:115-118.
43. Manley B., Maclaren P. Potential impact of carbon trading on forest management in New Zealand. Forest Policy and Economics 2012, 24:35-40.
44. McClure J., Cost N. Resource Monitoring and Assessment/Forest Inventory and Analysis 2010, USDA Forest Service, PNW Research Station, Portland Forest Sciences Laboratory.
45. McKinley D.C., Ryan M., Birdsey R., Giardina C., Harmon M., Heath L., Houghton R., Jackson R., Morrison J., Murray B., Pataki D., Skog K. A synthesis of current knowledge on forests and carbon storage in the United States. Ecol. Appl. 2011, 21(6):1902-1924.
46. McKinsey Company Pathways to a Low-carbon Economy: Version 2 of the Global Greenhouse Gas Abatement Cost Curve. Full report can be downloaded 2009, http://www.mckinsey.com/client_service/sustainability/latest_thinking/greenhouse_gas_abatement_cost_curves.
47. Miller K.A., Snyder S.A., Kilgore M.A. As assessment of forest landowner interest in selling forest carbon credits in Lake States, USA. Forest Policy and Economics 2012, 25:113-122.
48. Nepal P., Grala R.K., Grebner D.L. Financial feasibility of increasing carbon sequestration in harvested wood products in Mississippi. Forest Policy and Economics 2012, 14:99-106.
49. Newell R., Stavins R. Climate change and forest sinks: factors affecting the costs of carbon sequestration. J. Environ. Econ. Manag. 2000, 40:211-235.
50. Nunery J.S., Keeton W.S. Forest carbon storage in the northeastern United States: net effects of harvesting frequency, post-harvest retention, and wood products. For. Ecol. Manag. 2010, 259:1363-1375.
51. Nyland R.D. Exploitation and greed in eastern hardwood forests. J. For. 1992, 90:33-37.
52. Oliver C.D., Larson B.C. Forest Stand Dynamics 1996, McGraw-Hill, New York, (467 pp).
53. Pearson T.R.H., Brown S., Andrasko K. Comparison of registry methodologies for reporting carbon benefits for afforestation projects in the United States. Environ. Sci. Pol. 2008, 11:490-504.
54. Peters-Stanley M., Hamilton K., Yin D. Leveraging the Landscape: State of the Forest Carbon Markets 2012, Ecosystem Marketplace, Washington, D.C.
55. Ray D.G., Saunders M.R., Seymour R.S. Recent changes to the northeast variant of the forest vegetation simulator and some basic strategies for improving model outputs. North. J. Appl. For. 2009, 26:31-34.
56. Reuters, Point Carbon., 2010. Carbon Market North America. December 17, 2010. Vol. 05 Issue 49.
57. Richards K.R., Stokes C. A review of forest carbon sequestration cost studies: a dozen years of research. Climate Change 2004, 63:1-48.
58. Russell-Roy E.T., Keeton W., Pontius J.A., Kerchner C.D. Rehabilitation forestry and carbon market access on overharvested, former industrial northern hardwood forests. Can. J. For. Res. 2014, 44:614-627.
59. Scott C. Gross cubic foot volume from 1foot stump to 4inch top. Northeastern Forest Survey Revised Cubic-Foot Volume Equations. Research Note NE-304, 1981 1981.
60. S-Plus S-plus Statistical Software 2002, Statistical Science, Seattle, Washington, USA.
61. United States Department of Agiculture, Forest Service The Fire and Fuels Extension to the Forest Vegetation Simulator: Updated Model Documentation 2013, Fort Collins, CO.
62. VCS Methodology for Improved Forest Management Through Extension of Rotation Age (IFM ERA) 2012, EcoTrust Portland, Oregon.
63. Wiltbank R., Boeker W. Returns to Angel Investors in Groups 2007, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1028592.
64. Yaussy D.A. Comparison of an empirical forest growth and yield simulator and a forest gap simulator using actual 30-year growth from two even-aged forests in Kentucky. For. Ecol. Manag. 2000, 126:385-398.
65. Yonavjak L., Swedeen P., Talberth J. Forests for carbon: exploring forest carbon offsets in the U.S. South. World Resources Institute Southern Forests for the Future Incentives Series, Issue Brief 6 2011, World Resources Institute, Washington, DC, (20 p).