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Challenges in developing effective policy for soil carbon sequestration: perspectives on additionality, leakage, and permanence

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  • Tas Thamo
  • David J. Pannell

Abstract

If carbon sequestration is to be a cost-effective substitute for reducing emissions then it must occur under a framework that ensures that the sequestration is additional to what would otherwise have occurred, the carbon is stored permanently, and any leakage is properly accounted for. We discuss significant challenges in meeting these requirements, including some not previously recognized. Although we focus on sequestration in soil, many of the issues covered are applicable to all types of sequestration. The common-practice method for determining additionality achieves its intention of reducing transaction costs in the short term but not in the medium to long term. Its design results in the least costly, additional abatement-measures being excluded from policy support and fails to address how, in the case of sequestration, revisions to the additionality of sequestering practices should apply not just to the future, but in theory, also retrospectively. Permanence is sometimes approximated as 100 years of sequestration. Re-release of sequestered carbon after this will not only reverse the sequestration, but may raise atmospheric carbon to higher levels than they would have been if the sequestration had never occurred. Leakage associated with sequestration practices can accumulate over time to exceed the total level of sequestration; nonetheless, adoption of such practices can be attractive to landholders, even when they are required to pay for this leakage at contemporary prices.Policy relevanceGlobally, much has been written and claimed about the ability to offset emissions with sequestration. The Australian Government plans to use sequestration to source much of the abatement required to reach its emissions targets. Designing effective policy for sequestration will be challenging politically, and will involve substantial transaction costs. Compromises in policy design intended to make sequestration attractive and reduce transaction costs can render it highly inefficient as a policy.

Suggested Citation

  • Tas Thamo & David J. Pannell, 2016. "Challenges in developing effective policy for soil carbon sequestration: perspectives on additionality, leakage, and permanence," Climate Policy, Taylor & Francis Journals, vol. 16(8), pages 973-992, November.
  • Handle: RePEc:taf:tcpoxx:v:16:y:2016:i:8:p:973-992
    DOI: 10.1080/14693062.2015.1075372
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    Citations

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    Cited by:

    1. Tas Thamo & David J. Pannell & Marit E. Kragt & Michael J. Robertson & Maksym Polyakov, 2017. "Dynamics and the economics of carbon sequestration: common oversights and their implications," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 22(7), pages 1095-1111, October.
    2. Parisa, Zack & Marland, Eric & Sohngen, Brent & Marland, Gregg & Jenkins, Jennifer, 2022. "The time value of carbon storage," Forest Policy and Economics, Elsevier, vol. 144(C).
    3. Michel Leseure & David Bennett, 2024. "Adopting the Materiality Principle in Sustainable Operations Management," Sustainability, MDPI, vol. 16(15), pages 1-18, July.
    4. Thamo, Tas & Addai, Donkor & Kragt, Marit E. & Kingwell, Ross S. & Pannell, David J. & Robertson, Michael J., 2019. "Climate change reduces the mitigation obtainable from sequestration in an Australian farming system," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(4), October.
    5. Cecilia Roxanne Geier & Enno Bahrs & Christian Sponagel, 2023. "Derivation and Evaluation of a Business Model to Promote Carbon Farming That Generates Valid Carbon Removal," Sustainability, MDPI, vol. 15(22), pages 1-30, November.
    6. André Wolf, 2022. "Sustainable Carbon Cycles: A Framework for the Ramp-up of Carbon Capture?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(4), pages 260-266, July.
    7. Dean T. Thomas & Gonzalo Mata & Andrew F. Toovey & Peter W. Hunt & Gene Wijffels & Rebecca Pirzl & Maren Strachan & Brad G. Ridoutt, 2023. "Climate and Biodiversity Credentials for Australian Grass-Fed Beef: A Review of Standards, Certification and Assurance Schemes," Sustainability, MDPI, vol. 15(18), pages 1-33, September.
    8. Bruce A McCarl & Thomas W Hertel, 2018. "Climate Change as an Agricultural Economics Research Topic," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 40(1), pages 60-78.

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