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Validation and enhancement of a spatial economic tool for assessing ecosystem services provided by planted forests

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  • Yao, Richard T.
  • Harrison, Duncan R.
  • Velarde, Sandra J.
  • Barry, Luke E.

Abstract

Planted forests provide multiple benefits to society such as timber, carbon sequestration and avoided sedimentation, which are collectively called ecosystem services. Assessing the economic viability of timber production and the value of other ecosystem services of planted forests has become increasingly important for policy and investment decisions. A spatial economic tool called the Forest Investment Framework (FIF) has been developed to enable the assessment of key ecosystem services provided by planted forests in New Zealand. The FIF has a timber viability component that has been used to assess where in New Zealand new forest establishment is viable. The framework can also estimate indicative values of carbon sequestration credits and avoided sedimentation of waterways. In this paper, FIF's timber viability component is validated using data from seven case-study forests in New Zealand. Results of the validation exercise suggest that FIF is a very good viability assessment tool because it provides very accurate estimates of costs and revenues that case-study forests actually generated. The paper also discusses the new ecosystem services that have been identified for incorporation into this framework: water quality, water yield, recreation and biodiversity conservation.

Suggested Citation

  • Yao, Richard T. & Harrison, Duncan R. & Velarde, Sandra J. & Barry, Luke E., 2016. "Validation and enhancement of a spatial economic tool for assessing ecosystem services provided by planted forests," Forest Policy and Economics, Elsevier, vol. 72(C), pages 122-131.
    • Handle: RePEc:eee:forpol:v:72:y:2016:i:c:p:122-131
    DOI: 10.1016/j.forpol.2016.06.023
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    Cited by:

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    2. Yao, Richard T. & Scarpa, Riccardo & Harrison, Duncan R. & Burns, Rhys J., 2019. "Does the economic benefit of biodiversity enhancement exceed the cost of conservation in planted forests?," Ecosystem Services, Elsevier, vol. 38(C), pages 1-1.
    3. Zhigang Li & Jialong Zhong & Zishu Sun & Wunian Yang, 2017. "Spatial Pattern of Carbon Sequestration and Urban Sustainability: Analysis of Land-Use and Carbon Emission in Guang’an, China," Sustainability, MDPI, vol. 9(11), pages 1-24, October.
    4. John R. Dymond & Adam J. Daigneault & Olivia R. Burge & Chris C. Tanner & Fiona E. Carswell & Suzie Greenhalgh & Anne-Gaelle E. Ausseil & Norman W. H. Mason & Beverley R. Clarkson, 2023. "Searching for Balance between Hill Country Pastoral Farming and Nature," Land, MDPI, vol. 12(8), pages 1-14, July.
    5. Richard Yao & David Palmer & Barbara Hock & Duncan Harrison & Tim Payn & Juan Monge, 2019. "Forest Investment Framework as a Support Tool for the Sustainable Management of Planted Forests," Sustainability, MDPI, vol. 11(12), pages 1-22, June.

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