This PhD dissertation work delves into critical issues within the forestry business related to carbon sequestration, land value maximization and climate change vulnerability. The study proposes different tools to enhance the efficiency and outcomes of forest practices. Chapter two involves an enhanced forest rotation deferral methodology for carbon dioxide sequestration, focusing on the forest's final product destination passed the Faustmann optimal rotation age. Instead of giving the same value for pulp wood and saw timber, the research acknowledges the benefit of increased carbon dioxide stored in saw timber materials. To drive landowners to the socially optimum rotation age, where the marginal benefits of extended carbon storage equal the private marginal cost of postponing forest rotation, an incentive based mechanism is proposed, using subsidies. Through sensitivity analysis on the underlying assumptions, the socially optimal rotation is consistently greater than the currently applied one-year harvesting deferral, and smaller than longer extensions, such as 20 years deferred rotations. In chapter three, a novel approach to design Streamside Management Zones widths that vary according to different landscape characteristics is presented, as opposed to the constant command and control width currently used in Virginia. This adaptive approach allows landowners to maximize land value, while ensuring water quality protection. To determine the sediment retention equation as a function of SMZ slope, width, and soil texture, we use data derived from the Watershed Erosion Prediction Project. By simulating different regulatory constraints concerning accepted sediment delivery, the study shows the tradeoff between water quality and land expectation value through the changes in the opportunity cost of Streamside Management Zones. Lastly, chapter four centers on a dataset collected in India about tree planting species choice followed by a second model that incorporates socio-economic, as well as revealed preference management choices, and tree planting species as explanatory variables in a binary crop loss model. The findings reveal that tree planting, except for fruit trees, compared to agricultural crops, diminishes the household's probability of facing losses due to climate change, extreme weather events and pest attacks. Specifically, there is a 14.4% reduction in the probability of facing a loss when planting Eucalypt and Casuarina trees, a 7.6% reduction when planting palm trees, and 13.5% reduction when planting multiple trees, which evidences how trees are less vulnerable. Throughout this dissertation, the interdisciplinary research uses rigorous methodologies, comprehensive data analysis, and environmental economics theoretical foundation, culminating in valuable insights and potential policy recommendations to enhance forest practices in environmental challenging times. / Doctor of Philosophy / Climate change is a reality and forest practices can help us mitigate some of its consequences. However, forest practices are driven by private decisions that prioritize individual net benefits, often neglecting the broader ecosystem services forests provide. To enhance the collective benefits that forests provide to society, while maximizing the private economic return, it is crucial to employ tools to drive landowners to a socially optimal outcome. This dissertation aims to improve forest practices in three key environmental areas: carbon dioxide sequestration, land value optimization with water quality conservation, and crop vulnerability. The second chapter introduces a novel harvesting deferral methodology for carbon dioxide sequestration, which assigns greater value for saw timber production due to its longer product lifespan, thereby enhancing carbon dioxide sequestration away from the atmosphere. We align private landowner and social planner's interests and propose a subsidy scheme to incentivize landowners to postpone their forest rotation age until the marginal cost of doing so equals the societal marginal benefit of the deferred rotation. The outcomes are contingent on the underlying assumptions, and in this study, all rotation deferrals were greater than the current one-year rotation deferral contract, and smaller than 20 years. In the third chapter, an alternative approach to defining Streamside Management Zones (SMZ) width is proposed. Rather than employing a fixed width value across various conditions, a varied SMZ width is suggested, according to specific landscape characteristics. The study formulates the landowner's maximization problem, which is constrained to a fixed sediment delivery value. By simulating sediment retention delivery data using the Watershed Erosion Prediction Project, the research shows the opportunity cost of water quality through forgone timber revenue. Lastly, considering the direct link between climate change and food security, the dissertation utilizes data collected in India on household characteristics and revealed management choices. The first objective is to model the factors influencing the tree species planting decision, followed by a second model that focuses on how tree planting may reduce the probability of facing losses. The findings indicate that tree planting, except for fruits, reduces the probability of losses compared to planting agricultural crops. Throughout the dissertation, different methodologies, data analysis, and interdisciplinary research with potential policy implications are presented.
| Identifer | oai:union.ndltd.org:VTETD/oai:vtechworks.lib.vt.edu:10919/116186 |
| Date | 01 September 2023 |
| Creators | Junqueira Sartori, Pedro |
| Contributors | Forest Resources and Environmental Conservation, Schons Do Valle, Stella Zucchetti, Amacher, Gregory S., Barrett, Scott M., Sullivan, Bradley J. |
| Publisher | Virginia Tech |
| Source Sets | Virginia Tech Theses and Dissertation |
| Language | English |
| Detected Language | English |
| Type | Dissertation |
| Format | ETD, application/pdf |
| Rights | In Copyright, http://rightsstatements.org/vocab/InC/1.0/ |
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