Valuing carbon sequestration benefits: an application to hoop pine plantations in north Queensland, Australia

Venn, T. J., Harrison, S. R. and Herbohn, J. L. (2008) Valuing carbon sequestration benefits: an application to hoop pine plantations in north Queensland, Australia. Australasian Journal of Environmental Management, 15 2: 121-130. doi:10.1080/14486563.2008.9725192


Author Venn, T. J.
Harrison, S. R.
Herbohn, J. L.
Title Valuing carbon sequestration benefits: an application to hoop pine plantations in north Queensland, Australia
Journal name Australasian Journal of Environmental Management   Check publisher's open access policy
ISSN 1448-6563
Publication date 2008-06-01
Year available 2008
Sub-type Article (original research)
DOI 10.1080/14486563.2008.9725192
Open Access Status Not yet assessed
Volume 15
Issue 2
Start page 121
End page 130
Total pages 10
Editor Ross, A. H.
Carter, R. W.
Place of publication Melbourne, Australia
Publisher Environment Institute of Australia and New Zealand with Hallmark Editions
Language eng
Subject 820105 Softwood Plantations
070599 Forestry Sciences not elsewhere classified
0502 Environmental Science and Management
Abstract A timber plantation carbon modelling procedure consistent with the Intergovernmental Panel on Climate Change and Australian greenhouse gas accounting methodologies is described with an application to hoop pine (Araucaria cunninghamii) on the southern Atherton Tablelands of north Queensland, Australia. We also compare the private financial performance (timber value only) and economic performance (timber plus carbon values) of hoop pine plantations. The carbon sequestration value of hoop pine on high quality sites is found to increase social returns to plantation investment substantially above private returns, but it only marginally expands the range of site qualities over which plantations are socio-economically justified. Despite the long rotation of hoop pine (45 years), economic performance is found to be sensitive to carbon modelling parameters, including the decay rate of long-life wood products. This suggests that research effort to quantify these parameters more precisely is warranted.
Formatted abstract
A timber plantation carbon modelling procedure consistent with the Intergovernmental Panel on Climate Change and Australian greenhouse gas accounting methodologies is described with an application to hoop pine (Araucaria ctll1ninghamii) on the southern Atherton Tablelands of north Queensland, Australia. We also compare the private financial performance (timber value only) and economic performance (timber plus carbon values) of hoop pine plantations. The carbon sequestration value of hoop pine on high quality sites is found to increase social returns to plantation investment substantially above private returns. but it only marginally expands the range of site qualities over which plantations are socio-economically justified. Despite the long rotation of hoop pine (45 years). economic performance is found to be sensitive to carbon modelling parameters. including the decay rate of longlife wood products. This suggests that research effort to quantify these parameters more precisely is warranted.
Keyword Greenhouse gas emissions
Carbon accounting
Carbon pools and fluxes
Social benefit-cost analysis
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

 
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