The Cost of U.S. Forest-based Carbon Sequestration

Foreword ii

Executive Summary iii

I. Introduction 1

II. Costs of Addressing the Threat of Global Climate Change 5

III. Factors Affecting the Estimated Costs of Carbon Sequestration 9

A.  Biology: Species, Forestry Practices, and Carbon Yield Functions  9
B.  Opportunity Cost of Land  12
C.  Forest Management: Initial Treatment and Maintenance Costs  15
D.  Disposition of Biomass: Burning, Harvesting, and Forest Product Sinks  15
E.  Relevant Prices  17
F.  Policy Instruments Used to Achieve Carbon Sequestration  22

IV. Empirical Analysis of the Costs of Carbon Sequestration 24

A.  Major Studies of U.S. Forest-Based Carbon Sequestration Costs  25
B.  Synthesis of Cost Estimates  26

V. Conclusions  31

References 34

Endnotes 38