IDEAS home Printed from https://ideas.repec.org/a/gam/jagris/v15y2024i1p69-d1556340.html
   My bibliography  Save this article

Assessing the Economic Value of Carbon Sinks in Farmland Using a Multi-Scenario System Dynamics Model

Author

Listed:
  • Shixiong Song

    (School of Economics and Management, Zhejiang Sci-Tech University, Hangzhou 310018, China
    Zhejiang Academy of Eco-Civilization, Zhejiang Sci-Tech University, Hangzhou 310018, China)

  • Mingjian Su

    (School of Economics and Management, Zhejiang Sci-Tech University, Hangzhou 310018, China)

  • Lingqiang Kong

    (School of Public Administration, Zhejiang University of Finance and Economics, Hangzhou 310018, China)

  • Mingli Kong

    (School of Economics and Management, Zhejiang Sci-Tech University, Hangzhou 310018, China)

  • Yongxi Ma

    (School of Economics and Management, Zhejiang Sci-Tech University, Hangzhou 310018, China
    Zhejiang Academy of Eco-Civilization, Zhejiang Sci-Tech University, Hangzhou 310018, China)

Abstract

Exploring the economic value of carbon sinks in agricultural systems can improve the development of sustainable agriculture. However, there are few studies on the economic value of farmland carbon sinks from a systemic perspective. This study takes Zhejiang, China’s first common wealth demonstration zone, as an example, and quantifies the carbon sinks in farmland and their economic value. The driving mechanism is analyzed by using a system dynamics model. The potential value and management of farmland carbon sinks are discussed. The results show that from 2007 to 2021, the average annual carbon sinks in farmland of Zhejiang were 5.84 million tons, a downward trend. The annual economic value was CNY 149.80 million, a marked upward trend. A rational fertilization project is a win-win ecological and economical measure to enhance the carbon sinks in farmland. Artificially increasing the carbon price to 32% will help Zhejiang achieve the core goal of the common prosperity plan, bringing the urban–rural income gap below 1.9 in 2025. Achieving the economic value of farmland carbon sinks is a green way to narrow the urban–rural income gap. Our study indicates that the marketization of carbon sinks in agricultural land systems may be a very promising path to promote green agriculture.

Suggested Citation

  • Shixiong Song & Mingjian Su & Lingqiang Kong & Mingli Kong & Yongxi Ma, 2024. "Assessing the Economic Value of Carbon Sinks in Farmland Using a Multi-Scenario System Dynamics Model," Agriculture, MDPI, vol. 15(1), pages 1-21, December.
    • Handle: RePEc:gam:jagris:v:15:y:2024:i:1:p:69-:d:1556340
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2077-0472/15/1/69/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2077-0472/15/1/69/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Shixiong Song & Siyuan Zhao & Ye Zhang & Yongxi Ma, 2023. "Carbon Emissions from Agricultural Inputs in China over the Past Three Decades," Agriculture, MDPI, vol. 13(5), pages 1-12, April.
    2. Xiaobao Yu & Zhongfu Tan & Yuxie Zhang & Daoxin Peng & Hui Xia, 2017. "The Feedback Mechanism of Carbon Emission Reduction in Power Industry of Delayed Systems," Mathematical Problems in Engineering, Hindawi, vol. 2017, pages 1-14, December.
    3. Yifeng Xie & Haitao Wu & Ruikuan Yao, 2023. "The Impact of Climate Change on the Urban–Rural Income Gap in China," Agriculture, MDPI, vol. 13(9), pages 1-17, August.
    4. Jiang, Jingjing & Xie, Dejun & Ye, Bin & Shen, Bo & Chen, Zhanming, 2016. "Research on China’s cap-and-trade carbon emission trading scheme: Overview and outlook," Applied Energy, Elsevier, vol. 178(C), pages 902-917.
    5. Hongpeng Guo & Sidong Xie & Chulin Pan, 2021. "The Impact of Planting Industry Structural Changes on Carbon Emissions in the Three Northeast Provinces of China," IJERPH, MDPI, vol. 18(2), pages 1-20, January.
    6. Hequ Huang & Jia Zhou, 2022. "Study on the Spatial and Temporal Differentiation Pattern of Carbon Emission and Carbon Compensation in China’s Provincial Areas," Sustainability, MDPI, vol. 14(13), pages 1-19, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jia Peng & Xianli Hu & Xinyue Fan & Kai Wang & Hao Gong, 2023. "The Impact of the Green Economy on Carbon Emission Intensity: Comparisons, Challenges, and Mitigating Strategies," Sustainability, MDPI, vol. 15(14), pages 1-21, July.
    2. Ziheng Niu & Jianliang Xiong & Xuesong Ding & Yao Wu, 2022. "Analysis of China’s Carbon Peak Achievement in 2025," Energies, MDPI, vol. 15(14), pages 1-18, July.
    3. Chu, Baoju & Dong, Yizhe & Liu, Yaorong & Ma, Diandian & Wang, Tianju, 2024. "Does China's emission trading scheme affect corporate financial performance: Evidence from a quasi-natural experiment," Economic Modelling, Elsevier, vol. 132(C).
    4. Wang, Feng & Liu, Xiying & Nguyen, Tue Anh, 2018. "Evaluating the economic impacts and feasibility of China's energy cap: Based on an Analytic General Equilibrium Model," Economic Modelling, Elsevier, vol. 69(C), pages 114-126.
    5. Zhang, Yanfang & Gao, Qi & Wei, Jinpeng & Shi, Xunpeng & Zhou, Dequn, 2023. "Can China's energy-consumption permit trading scheme achieve the “Porter” effect? Evidence from an estimated DSGE model," Energy Policy, Elsevier, vol. 180(C).
    6. Yu Li & Yanjun Zhang & Xiaoyan Li, 2024. "Insight into Carbon Emissions in Economically Developed Regions Based on Land Use Transitions: A Case Study of the Yangtze River Delta, China," Land, MDPI, vol. 13(11), pages 1-21, November.
    7. Cong, Ren & Lo, Alex Y., 2017. "Emission trading and carbon market performance in Shenzhen, China," Applied Energy, Elsevier, vol. 193(C), pages 414-425.
    8. Song, Yazhi & Liu, Tiansen & Liang, Dapeng & Li, Yin & Song, Xiaoqiu, 2019. "A Fuzzy Stochastic Model for Carbon Price Prediction Under the Effect of Demand-related Policy in China's Carbon Market," Ecological Economics, Elsevier, vol. 157(C), pages 253-265.
    9. Fu, Yang & Zheng, Zeyu, 2020. "Volatility modeling and the asymmetric effect for China’s carbon trading pilot market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 542(C).
    10. Yunqing Zhao & Debao Dai & Wei Shao & Liang Ye, 2024. "Can the Carbon Trading Policy Enhance Resource Allocation Efficiency?—An Analysis of the Synergistic Effect of Market Mechanism and Government Intervention," Sustainability, MDPI, vol. 16(22), pages 1-24, November.
    11. Woo, C.K. & Chen, Y. & Olson, A. & Moore, J. & Schlag, N. & Ong, A. & Ho, T., 2017. "Electricity price behavior and carbon trading: New evidence from California," Applied Energy, Elsevier, vol. 204(C), pages 531-543.
    12. Wang, Xu & Zhu, Lei & Fan, Ying, 2018. "Transaction costs, market structure and efficient coverage of emissions trading scheme: A microlevel study from the pilots in China," Applied Energy, Elsevier, vol. 220(C), pages 657-671.
    13. Mu, Yaqian & Evans, Samuel & Wang, Can & Cai, Wenjia, 2018. "How will sectoral coverage affect the efficiency of an emissions trading system? A CGE-based case study of China," Applied Energy, Elsevier, vol. 227(C), pages 403-414.
    14. Hui Wen & Yi Li & Zirong Li & Xiaoxue Cai & Fengxia Wang, 2022. "Spatial Differentiation of Carbon Budgets and Carbon Balance Zoning in China Based on the Land Use Perspective," Sustainability, MDPI, vol. 14(20), pages 1-20, October.
    15. Abulibdeh, A. & Jawarneh, R.N. & Al-Awadhi, T. & Abdullah, M.M. & Abulibdeh, R. & El Kenawy, A.M., 2024. "Assessment of carbon footprint in Qatar's electricity sector: A comparative analysis across various building typologies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 189(PA).
    16. Miaomiao Tao & Pierre Failler & Lim Thye Goh & Wee Yeap Lau & Hanghang Dong & Liang Xie, 2022. "Quantify the Effect of China’s Emission Trading Scheme on Low-carbon Eco-efficiency: Evidence from China’s 283 Cities," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 27(6), pages 1-33, August.
    17. Wu, Rongxin & Tan, Zhizhou & Lin, Boqiang, 2023. "Does carbon emission trading scheme really improve the CO2 emission efficiency? Evidence from China's iron and steel industry," Energy, Elsevier, vol. 277(C).
    18. Chen, Zhongfei & Zhang, Xiao & Chen, Fanglin, 2021. "Do carbon emission trading schemes stimulate green innovation in enterprises? Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 168(C).
    19. Wang, Xiao-Qing & Su, Chi-Wei & Lobonţ, Oana-Ramona & Li, Hao & Nicoleta-Claudia, Moldovan, 2022. "Is China's carbon trading market efficient? Evidence from emissions trading scheme pilots," Energy, Elsevier, vol. 245(C).
    20. Yu, Fan & Zheng, Shilin & Zheng, Shuhong & Guo, Chenhao, 2024. "Does carbon ETS affect the distribution of labor's slice of the factor income pie? From the low carbon transition perspective," Energy Economics, Elsevier, vol. 134(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jagris:v:15:y:2024:i:1:p:69-:d:1556340. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.