Different outcomes of alternative approaches to forest carbon accounting at the local level

In forest carbon accounting and policy assessment at the micro level, inconsistencies, even confusion, abound regarding how timber are treated as joint products, whether Paris Agreement principles of additionality permanence followed, if differentiated composition duration harvested wood products (HWPs) captured. Here, we tackle these issues with two widely used alternative analytic frameworks. The first features a Hartman modification Faustmann model for growth harvest without incorporating HWPs, whereas second builds from profit function production measures HWPs. Using intensively managed pine plantations U.S. South an empirical case, show that outcomes approaches vary greatly. Hartman-Faustmann approach exaggerates credits landowner by factor least 2.76. Furthermore, while adding to valuation has limited impact on optimal age, it increases net revenue under 45% price $20 per ton CO 2 . These distinctions broad importance policymakers economists in all regions world look appropriately integrated assessments sector solutions climate change.