What are the social benefits of carbon sequestration?

Abstract

The costs of reducing carbon dioxide (CO2) emissions or their sequestration have received a great deal of attention. On the other hand, the benefits of the reduction or sequestration have been limited to avoided costs, which in general do not reflect the social benefits. Knowing the benefits to the whole society would help to make rational economic decisions on the amount of resources devoted to carbon sequestration or emission reductions. This article presents the methods based on increasing the amount of carbon stored in the system but it reflects the social value of the society instead of the cost of sequestering carbon. Keywords: Social cost of carbon, Non-market valuation, Forest attributes.