Abstract
The Demand for Voluntary Carbon Sequestration – Experimental Evidence from a Reforestation Project in Germany
Highlights
Net zero by 2050 is an ambitious yet important goal that requires a rethinking of traditional greenhouse gas (GHG) avoidance approaches and calls attention to negative emission technologies (NETs) as a complementary method to lower the atmospheric CO2 concentration levels
Geo- and survey data, our paper provides to the best of our knowledge the first revealed preference study on the willingness to pay for carbon sequestration services of local forest carbon sinks
Our study reveals substantial differences to the prevalent literature investigating the willingness to pay (WTP) for avoiding greenhouse gas emissions through purchasing emissions allowances
Summary
At the Paris Climate Convention, countries around the world agreed to limit global warming to 2°C - preferably 1.5°C - above pre-industrial levels. While the primary public good component (i.e. the benefits from reduced GHG emissions) is globally at scale, most of the cobenefits from reforestation projects (e.g., reduced air pollution and noise, clean water, a livelihood for local people and improvements in health and biodiversity) accrue in a local context This highlights the role of place attachment on the WTP for a local forest carbon sink. After completing the online survey, participants were, for the first time, confronted with the opportunity to donate their fixed payment (20 €) to a carbon sink project located in Mannheim, Germany. CO2 absorption Reforestation Local coprotection carbon sinks capacity of trees project benefits In both treatments, participants received relevant information on the need for global climate protection and the role of NETs based on the PA and the IPCC reports.
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