Alice Favero, Lecturer, School of Public Policy, Georgia Institute of Technology
“Global cost estimates of forest climate mitigation with albedo: a new integrative policy approach” (pdf file)
Introduced by: Francesco Bosello, CMCC@Ca’Foscari
Climate change mitigation policies have usually considered forest-based actions as cheap and fast options to reduce CO2 concentration in the atmosphere and slow down global warming. Most economic analyses, however, have ignored the effects of these actions on land surface albedo and the resulting cooling effect. By introducing regional and forest-specific albedo information in a global dynamic forestry model, our study estimates the marginal cost of forest mitigation associated with albedo change. Results show that traditional forest sequestration policies have underestimated the costs of forest mitigation, diverting forest-based actions in regions where subsequent changes in albedo are significant. To reduce this inefficiency, our study proposes a novel approach where both carbon sequestration and albedo are incorporated into pricing. We find that, under the same carbon price path, the integrative policy provides greater net global mitigation in absolute terms and per hectare of forest, and thus more efficient and less intrusive than the traditional policy.
The seminar will be held in Aula Radice, ground floor, Edificio Porta dell’Innovazione – VEGA, Via della Libertà 12, Venezia Marghera, Venice
Working Language: English