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The economic costs of planting, preserving, and managing the world's forests to mitigate climate change.

ABSTRACT: Forests are critical for stabilizing our climate, but costs of mitigation over space, time, and stakeholder group remain uncertain. Using the Global Timber Model, we project mitigation potential and costs for four abatement activities across 16 regions for carbon price scenarios of $5-$100/tCO₂. We project 0.6-6.0 GtCO₂yr^-1 in global mitigation by 2055 at costs of 2-393 billion USD yr^-1, with avoided tropical deforestation comprising 30-54% of total mitigation. Higher prices incentivize larger mitigation proportions via rotation and forest management activities in temperate and boreal biomes. Forest area increases 415-875 Mha relative to the baseline by 2055 at prices $35-$100/tCO₂, with intensive plantations comprising <7% of this increase. Mitigation costs borne by private land managers comprise less than one-quarter of total costs. For forests to contribute ~10% of mitigation needed to limit global warming to 1.5?°C, carbon prices will need to reach $281/tCO₂ in 2055.

SUBMITTER: Austin KG

PROVIDER: S-EPMC7708837 | biostudies-literature | 2020 Dec

REPOSITORIES: biostudies-literature

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The economic costs of planting, preserving, and managing the world's forests to mitigate climate change.

Austin K G KG Baker J S JS Sohngen B L BL Wade C M CM Daigneault A A Ohrel S B SB Ragnauth S S Bean A A

Nature communications 20201201 1

Forests are critical for stabilizing our climate, but costs of mitigation over space, time, and stakeholder group remain uncertain. Using the Global Timber Model, we project mitigation potential and costs for four abatement activities across 16 regions for carbon price scenarios of $5-$100/tCO2. We project 0.6-6.0 GtCO2 yr-1 in global mitigation by 2055 at costs of 2-393 billion USD yr-1, with avoided tropical deforestation comprising 30-54% of total m ...[more]

PMID: 33262324

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Dataset Information

The economic costs of planting, preserving, and managing the world's forests to mitigate climate change.

Publications

The economic costs of planting, preserving, and managing the world's forests to mitigate climate change.

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