Optimal Rotation Decisions and Differentiated Eco-Compensation Under a Social Optimum Framework

Forest management objectives have shifted from timber-only production to multifunctional management. From this, a divergence has emerged between the private and social optimal rotation decisions pursued by forest farmers and the government, respectively. Identifying this divergence and improving eco-compensation mechanisms accordingly are critical to promoting multifunctional plantation management. Based on a constructed multi-service Faustmann–Hartman model, this study uses the examples of Picea asperata, Pinus yunnanensis, and Pinus massoniana in Sichuan Province to compare changes in the optimal rotation period and land expectation value (LEV) across three progressive scenarios: timber management, carbon sink management, and multi-objective management. It also estimates eco-compensation needs based on staged opportunity costs. The results show that incorporating non-market ecosystem services delays the optimal rotation period and increases LEV. These systems’ contribution to rotation extension exceeds that of the carbon sink. Sensitivity analysis indicates that timber price and discount rate are important parameters affecting LEV and the optimal rotation period, with the discount rate exerting the most pronounced effect; by contrast, although carbon price increases LEV, its effect on extending the rotation period is relatively limited. Based on management feasibility boundaries, Picea asperata, Pinus yunnanensis, and Pinus massoniana are classified as ecological value-dependent, carbon-enhanced, and management-robust types, respectively. Staged compensation estimates show that carbon sink revenues cover the opportunity costs of switching from timber management to carbon sink management; however, transitioning further to multifunctional management still requires fiscal compensation. Using the existing compensation standard for eligible non-state-owned public welfare forests in Sichuan Province as a policy benchmark, the estimated annual compensation requirements for Pinus yunnanensis and Pinus massoniana exceed this standard by 81.46 and 12.99 CNY/(ha·year), respectively, whereas the requirement for Picea asperata is lower than the benchmark. Therefore, plantation eco-compensation policies should shift from uniform compensation to differentiated mechanisms that account for species heterogeneity and the transition stages included in management objectives.