Yizhu Long , Zhen Zhu , Yanzhen Hong , Zhiwen Gong , Hua Li , Han Zhang
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The effect of carbon taxes and subsidies on forest carbon sequestration in China
Forests have a crucial role in mitigating climate change. The Chinese government is currently deliberating the utilization of carbon taxes and subsidies to incentivise the potential for forest carbon sequestration. The impact of the policies on China's forests, especially the quantitative information is unknown. To fill this gap, we follow the Faustmann-Hartman model to examine the relationship between the policies and forest carbon sequestration. We find that due to extending the rotation age, policies will increase China's forest carbon sequestration by 1.99 tCO2e/ha/yr, contributing 11.15%–17.31% to the 2060 carbon neutrality target, as the carbon price increases from 0 to 400 CNY/tCO2. China's forest carbon sequestration supply curve is inelastic, with an average elasticity of approximately 0.08. Policy implementation in the northwest region is more effective for the northwest region to improve carbon sequestration potential both per unit area and total amount, in contrast to certain provinces in the South Central and Southeast coastal regions. The average costs of the policy are generally higher in the southeast, averaging about 2.2 times higher than in the northwest. However, considering financial affordability, some southeast provinces in China are more economically feasible. These findings have important policy implications.
期刊介绍:
Forest Policy and Economics is a leading scientific journal that publishes peer-reviewed policy and economics research relating to forests, forested landscapes, forest-related industries, and other forest-relevant land uses. It also welcomes contributions from other social sciences and humanities perspectives that make clear theoretical, conceptual and methodological contributions to the existing state-of-the-art literature on forests and related land use systems. These disciplines include, but are not limited to, sociology, anthropology, human geography, history, jurisprudence, planning, development studies, and psychology research on forests. Forest Policy and Economics is global in scope and publishes multiple article types of high scientific standard. Acceptance for publication is subject to a double-blind peer-review process.