Barriers to Massachusetts forest landowner participation in carbon markets

In most cases authors are permitted to post their version of the article (e.g. in Word or Tex form) to their personal website or institutional repository. Authors requiring further information regarding Elsevier's archiving and manuscript policies are encouraged to visit: a b s t r a c t a r t i c l e i n f o U.S. forests, including family-owned forests, are important carbon sinks and sources for carbon sequestration. Family forest owners constitute a significant portion of the overall forestland in the U.S., but little is known about their preferences for participating in carbon sequestration programs. The goal of this research is to understand what motivates Massachusetts family forest owners to participate in carbon markets. The study estimates the probability these landowners would engage in carbon sequestration programs using data from a survey of 930 Massachusetts family forest owners. Results from a random effects ordered probit indicate that under a carbon scenario similar to the current voluntary scheme, very few of these landowners would be interested in participating. Supply analysis indicates these landowners are more influenced to participate by factors other than price. Regression analysis results suggest that survey respondents are concerned about early withdrawal penalties, additionality requirements, and contract length. Forest owner harvesting plans, opinions about forest usage, and beliefs about climate change all play a significant role in the decision to participate. The study suggests that policy makers should consider the reasons behind these low participation rates, because private forest owners could play a pivotal role in the carbon sequestration potential of forests. Forests and forest products are crucial for protecting existing carbon sinks and promoting additional carbon sequestration (NEFA, 2002). Forest management efforts can maintain or improve forest carbon stock through a variety of techniques (e.g., thinning, increasing rotation length). Afforestation activities create new carbon sinks by establishing forest on non-forested land. Reforestation increases carbon stocks by reestablishing forest cover following a timber harvest. Avoided forestland conversion also helps to maintain or improve forest carbon stocks. This article focuses on land with established forests. In these areas, forest management efforts are the relevant activities for maintaining and improving forest carbon stocks. In particular, we focus on established forests owned by families. Family forest owners have the potential to play an important role in carbon sequestration. Over half the forestland in the U.S. is privately owned, and nearly two-thirds of that land is in …