Assessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan

As compared with conventional approaches for reducing carbon emissions, the strategies of reducing emissions from deforestations and forest degradation (REDD) can greatly reduce costs. Hence, the United Nations Framework Convention on Climate Change regards the REDD strategies as a crucial approach...

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Autores principales:	Ming-Yun Chu, Wan-Yu Liu
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	REDD+ net present value (NPV) land-use changes carbon stock opportunity cost Agriculture S
Acceso en línea:	https://doaj.org/article/16964a0590e142e4ab71460a3e4a0bee
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spelling	oai:doaj.org-article:16964a0590e142e4ab71460a3e4a0bee2021-11-25T18:09:54ZAssessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan10.3390/land101112402073-445Xhttps://doaj.org/article/16964a0590e142e4ab71460a3e4a0bee2021-11-01T00:00:00Zhttps://www.mdpi.com/2073-445X/10/11/1240https://doaj.org/toc/2073-445XAs compared with conventional approaches for reducing carbon emissions, the strategies of reducing emissions from deforestations and forest degradation (REDD) can greatly reduce costs. Hence, the United Nations Framework Convention on Climate Change regards the REDD strategies as a crucial approach to mitigate climate change. To respond to climate change, Taiwan passed the Greenhouse Gas Reduction and Management Act to control the emissions of greenhouse gases. In 2021, the Taiwan government has announced that it will achieve the carbon neutrality target by 2050. Accordingly, starting with focusing on the carbon sink, the REDD strategies have been considered a recognized and feasible strategy in Taiwan. This study analyzed the net present value and carbon storage for various land-use types to estimate the carbon stock and opportunity cost of land-use changes. When the change of agricultural land to artificial forests generated carbon stock, the opportunity cost of carbon stock was negative. Contrarily, restoring artificial forests (which refer to a kind of forest that is formed through artificial planting, cultivation, and conservation) to agricultural land would generate carbon emissions, but create additional income. Since the opportunity cost of carbon storage needs to be lower than the carbon market price so that landlords have incentives to conduct REDD+, the outcomes of this study can provide a reference for the government to set an appropriate subsidy or price for carbon sinks. It is suggested that the government should offer sufficient incentives to reforest collapsed land, and implement interventions, promote carbon trading policies, or regulate the development of agricultural land so as to maintain artificial broadleaf forests for increased carbon storage.Ming-Yun ChuWan-Yu LiuMDPI AGarticleREDD+net present value (NPV)land-use changescarbon stockopportunity costAgricultureSENLand, Vol 10, Iss 1240, p 1240 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	REDD+ net present value (NPV) land-use changes carbon stock opportunity cost Agriculture S
spellingShingle	REDD+ net present value (NPV) land-use changes carbon stock opportunity cost Agriculture S Ming-Yun Chu Wan-Yu Liu Assessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan
description	As compared with conventional approaches for reducing carbon emissions, the strategies of reducing emissions from deforestations and forest degradation (REDD) can greatly reduce costs. Hence, the United Nations Framework Convention on Climate Change regards the REDD strategies as a crucial approach to mitigate climate change. To respond to climate change, Taiwan passed the Greenhouse Gas Reduction and Management Act to control the emissions of greenhouse gases. In 2021, the Taiwan government has announced that it will achieve the carbon neutrality target by 2050. Accordingly, starting with focusing on the carbon sink, the REDD strategies have been considered a recognized and feasible strategy in Taiwan. This study analyzed the net present value and carbon storage for various land-use types to estimate the carbon stock and opportunity cost of land-use changes. When the change of agricultural land to artificial forests generated carbon stock, the opportunity cost of carbon stock was negative. Contrarily, restoring artificial forests (which refer to a kind of forest that is formed through artificial planting, cultivation, and conservation) to agricultural land would generate carbon emissions, but create additional income. Since the opportunity cost of carbon storage needs to be lower than the carbon market price so that landlords have incentives to conduct REDD+, the outcomes of this study can provide a reference for the government to set an appropriate subsidy or price for carbon sinks. It is suggested that the government should offer sufficient incentives to reforest collapsed land, and implement interventions, promote carbon trading policies, or regulate the development of agricultural land so as to maintain artificial broadleaf forests for increased carbon storage.
format	article
author	Ming-Yun Chu Wan-Yu Liu
author_facet	Ming-Yun Chu Wan-Yu Liu
author_sort	Ming-Yun Chu
title	Assessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan
title_short	Assessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan
title_full	Assessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan
title_fullStr	Assessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan
title_full_unstemmed	Assessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan
title_sort	assessing the opportunity cost of carbon stock caused by land-use changes in taiwan
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/16964a0590e142e4ab71460a3e4a0bee
work_keys_str_mv	AT mingyunchu assessingtheopportunitycostofcarbonstockcausedbylandusechangesintaiwan AT wanyuliu assessingtheopportunitycostofcarbonstockcausedbylandusechangesintaiwan
_version_	1718411545062408192

Assessing the Opportunity Cost of Carbon Stock Caused by Land-Use Changes in Taiwan

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