Carbon Sequestration in Global Forests Under Different Carbon Price Regimes

This paper examines the potential role of carbon sequestration in forests under a range of exogenously chosen carbon price paths. The price paths were chosen to simulate several different climate change policies. The results indicate that global sequestration could range from 48-147 Pg C by 2105 for carbon prices ranging from 100 to more than 800 per t C by the end of the century. The timing of sequestration is found to be sensitive to the assumed carbon price path. Low initial carbon prices (10 - 20 per t C in 2010) followed by rapid price increases, as might occur if policy makers try to stabilize future concentrations, suggest little, if any, sequestration during the next 20 years (-0. 2 to 4. 5 Pg C). If policy makers develop policies that support higher initial carbon prices, ranging from 75 to 100 per t C, 17 to 23 Pg C could be sequestered in forests over the next 20 years. Overall, our results indicate that forestry is not an efficient stopgap measure for long-term policy goals, but that it is instead an important longterm partner with other mitigation options.