Multifunctional Forestry and Interaction with Site Quality

Several studies have shown the economic value of various ecosystem services provided by the forest. However, the economic value of how site-specific ecological conditions interact with other functions provided by the forest, such as timber value and carbon sequestration, has been less studied. As a...

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Bibliographic Details
Published in:Forests 2020-01, Vol.11 (1), p.29
Main Authors: Gren, Ing-Marie, Amuakwa-Mensah, Franklin
Format: Article
Language:English
Subjects:
Biomass
Carbon
Carbon dioxide
Carbon dioxide removal
Carbon sequestration
cost-efficient
Discount rates
Ecological conditions
ecological site quality
Economic models
Economics
Ecosystem services
Ecosystems
Empirical analysis
forest
Forest ecosystems
Forest growth
Forest management
Forest products
Forest Science
Forestry
Forests
Harvest
Nationalekonomi
Net present value
Optimization
Productivity
Profits
rotation age
Skogsvetenskap
Sweden
Timber
timber benefit
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Summary:Several studies have shown the economic value of various ecosystem services provided by the forest. However, the economic value of how site-specific ecological conditions interact with other functions provided by the forest, such as timber value and carbon sequestration, has been less studied. As a result, this paper constructs a numerical discrete dynamic optimization model to estimate the economic value of site quality, taking into account its interaction with timber value and carbon sequestration, in Swedish forests. Analytical results show that the inclusion of the interaction of site quality with forest growth affects the optimal volume of harvest per year, compared to the case without consideration of site quality. The empirical results show that net present value, when considering timber values plus carbon sequestration and site quality interaction, is higher than the case where only timber and carbon sequestration were considered. However, the calculated net present value is sensitive to, in particular, the price of carbon sequestration and discount rate.
ISSN:1999-4907
1999-4907
DOI:10.3390/f11010029