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Net Revenue of Forest Carbon Offset Projects - Application of the Korean Emission Trading System in the Forestry Sector3.74 MB
Published VersionCC BY V4.0, Open Access
Journal article
Net Revenue of Forest Carbon Offset Projects: Application of the Korean Emission Trading System in the Forestry Sector
Forests, Vol.12(6), pp.1-15
2021
Abstract
Under the Korean Emission Trading System in The Forestry Sector (KETSF) initiative, the Korean government has developed several greenhouse gas (GHG) emissions reduction programs that include forestry activities as cornerstones of the initiative. Forest management is deemed to be a major strategy to implement KETSF; this has been confirmed by most participants in the program, who have shown their preference for forest management projects as the most effective and encouraging strategy to participate in the KETSF program. For a successful implementation of KETSF projects, it is essential to explore methods that optimize the positive impacts of such strategies, thereby maximizing the economic returns and carbon stocks that result from the implementation of forest management activities. Thus, this study investigated the economic returns of several KETSF projects in Korea, which included simulated scenarios under two main forest management strategies, one based on an extension of the rotation age, and a second one based on reforestation with new species. Five forest management scenarios were examined and evaluated in their ability to maximize carbon stocks and economic returns. Based on the results, two scenarios were identified as the best KETSF projects in terms of carbon stock increments. Additionally, the results indicated that projects including reforestation with new species added more economic value than projects that considered an extension of the rotation age. The study also revealed that KETSF projects generated revenue in both scenarios, by either extending the rotation age or by implementing reforestation with new species.
Details
- Title
- Net Revenue of Forest Carbon Offset Projects: Application of the Korean Emission Trading System in the Forestry Sector
- Authors
- Heesung Woo (Author) - Kangwon National UniversityMauricio Acuna (Author) - University of the Sunshine Coast, Queensland, Forest Industries Research CentreByoungkoo Choi (Author) - Kangwon National UniversityJoonsoon Kim (Author) - Kangwon National University
- Publication details
- Forests, Vol.12(6), pp.1-15
- Publisher
- MDPI AG
- Date published
- 2021
- DOI
- 10.3390/f12060742
- ISSN
- 1999-4907
- Copyright note
- © 2021 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
- Organisation Unit
- University of the Sunshine Coast, Queensland; Forest Industries Research Centre; Forest Research Institute
- Language
- English
- Record Identifier
- 99542308502621
- Output Type
- Journal article
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- Forestry
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