Social costs of carbon avoided through carbon sequestration in deciduous woodlandcan help you understand the value of

Value

£91.03 per hectare per year

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Year2015
Country:
TechniquePotential cost saving or value of resources reallocated
Description

This valuation relates to the social costs of carbon avoided by a hectare of deciduous woodland in a year through carbon sequestration. This value is in £ per hectare per year.

This valuation was calculated by multiplying the annual rate of carbon sequestration of a hectare of deciduous woodland (estimated by the Forestry Commission) with the social cost of carbon per tonne (estimated by the United States Government Interagency Working Group on Social Cost of Carbon).

Value is based on social carbon costs for 2015 in 2011 Dollars. More information regarding the estimation of the social cost of carbon is available at: http://www.whitehouse.gov/sites/default/files/omb/assets/inforeg/technical-update-social-cost-of-carbon-for-regulator-impact-analysis.pdf The carbon sequestration rate of woodland is variable due to numerous factors (e.g. species, rainfall, maturity). More information regarding the rate of carbon sequestration in deciduous woodland is available at: http://www.forestry.gov.uk/pdf/carbonseqrep0603.pdf/$FILE/carbonseqrep0603.pdf The models used to estimate the social cost of carbon do not currently account for all physical, ecological and economic impacts of climate change, meaning this valuation may represent an underestimation. More information on estimating the social cost of carbon is available at: http://www.ipcc.ch/pdf/assessment-report/ar4/syr/ar4_syr.pdf

References

Social cost of carbon valuation source: "Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis - Under Executive Order 12866," Interagency Working Group on Social Cost of Carbon, 2013. Available at: whitehouse.gov/sites/default/files/omb/assets/inforeg/technical-update-social-cost-of-carbon-for-regulator-impact-analysis.pdf Rate of carbon sequestration within deciduous woodland source: "Social & Environmental Benefits of Forestry Phase 2: CARBON SEQUESTRATION BENEFITS OF WOODLAND," Forestry Commission, 2003. Available at: forestry.gov.uk/pdf/carbonseqrep0603.pdf/$FILE/carbonseqrep0603.pdf

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