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Forests and Climate Change Mitigation The Role of Markets February 10, 2020

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Page 1: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Forests and Climate Change Mitigation

The Role of Markets

F e b r u a r y 1 0 , 2 0 2 0

Page 2: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Climate change benefits of forests

Forest carbon sinkSequestering Atmospheric CO2in tree biomass and soils

Forest product benefits

1) Long-term storage of tree carbon in buildings

2) Renewable feedstocks for energy generation

Joint benefits

Page 3: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Forest Carbon Sink

Forests capture atmospheric carbon through photosynthesis…

Forests emit carbon through respiration, decay, wildfire…

In U.S. forests, capture has exceeded emissions for several decades…

Forest C is a growing asset…net expansion of 0.5% per year from 1990 to 2017

Forest C inventories currently store about 52 years of US greenhouse gas emissions at 2017 levels…

Total emissions (2017): 6457 MMT CO2 eq; Total forest C stock (2016) : 91262 Tg C= 334950 MMT CO2 eq Sources: US EPA

Greenhouse Gas Inventory Report (2018)

Page 4: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Forest Carbon Trends

Source: Woodall, Christopher W. et al. 2015. The U.S. forest carbon accounting framework: stocks and stock change, 1990-2016. Gen. Tech. Rep. NRS-154. Newtown Square, PA: U.S. Department of Agriculture, Forest Service, Northern Research Station. 49 p. https://doi.org/10.2737/NRS-GTR-154.

0

50

100

150

1990 1995 2000 2005 2010 2015 2020

Tg C

/ y

ear

year

Annual carbon sequestration by US forests

-200

0

200

400

East West US

Tg C

/ y

ear

Forest carbon dynamics by region and US

Growth Fire Cutting net sequestration

Page 5: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Regional differences in ownership and structure

Source: US Forest Service, FIA national forest inventory.

Page 6: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Carbon storage in harvested wood products

05

10152025303540

1990 2000 2010 2020

Tg C

/yr

year

Change in carbon storage in harvested wood products and land fills

harvested wood products carbon

Sources: Methods in Skog (2008), estimates from EPA National Greenhouse Gas Inventory Reports, 2011, 2019

Page 7: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Timber harvest levels in the US

• Production peaked in the 1990s• Now about 25% below the peak• Timber supplies have continued

to expand

0

5,000

10,000

15,000

20,000

1950 1970 1990 2010

mill

ion

cubi

c fe

et

year

U.S. harvested forest products, by region (1952-2016)

Rockies Pacific North South U.S. Total

Source: US Forest Service, RPA: Oswalt, S.N. et al. 2019. Forest Resources of the United States, 2017 Gen. Tech. Rep. WO-97. Washington, DC: U.S. Department of Agriculture, Forest Service, Washington Office. 223 p. https://doi.org/10.2737/WO-GTR-97 (and earlier reports)

Page 8: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Forest Bioenergy: A strong potential for climate change mitigation

-100

-80

-60

-40

-20

0

20

2020

2027

2034

2041

2048

2055

2062

2069

2076

2083

2090

2097

2104

2111

2118

Net emission reductions from switch to bioenergy

Net emission reductions --30 year regrowth

• Wood bioenergy now driven by European markets—pellet exports from US South to EU/UK

• Switching from coal to wood bioenergy in the USsubstantial reductions in carbon emissions

• Plus incentives to expand the forest carbon sink

Page 9: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

0

10,000

20,000

30,000

40,000

50,000

60,000

0

0.5

1

1.5

2

2.5

1950 1970 1990 2010

Plan

ted

fore

sts (

1000

acr

es)

inde

x (1

952=

1)year

Forest condition and use trends in the US South

biomass timberland harvests planted forest

Case study: forestry in the southeastern US

Sources: Wear and Gries. Southern Forest Futures Project and Oswalt, S.N. et al. 2019. Forest Resources of the United States, 2017 Gen. Tech. Rep. WO-97. Washington, DC: U.S. Department of Agriculture, Forest Service, Washington Office. 223 p. https://doi.org/10.2737/WO-GTR-97

Page 10: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Forest products markets build the forest carbon sink

Incentives to retain and add forests

Incentives to expand productivity

Revenues for forest fuel reductions

Carbon storage and emission offsets

Page 11: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

Growing climate change benefits of forests

Expand forest area and enhance growth

Increase the utilization of wood in building and energy

Protect forest assets by reducing wildfire emissions

Page 12: Forests and Climate Change Mitigation · Forests and Climate Change Mitigation The Role of Markets February 10, 2020. Climate change benefits of forests Forest carbon sink. Sequestering

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