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The saltmarsh carbon storage potential is a key topic in blue carbon research and climate policy. Ecosystem service valuations provide valuable information to policymakers for habitat management and climate change mitigation policies. Yet, only few saltmarsh valuation studies have included the carbon storage service in the UK context. This paper investigates how the public values saltmarsh ecosystem services, focussing on the carbon storage service. We used a choice experiment to elicit the willingness to pay (WTP) of a representative sample of the Scottish public to support interventions that would maintain or improve the provision of these services. Furthermore, we tested the effect of information on individuals' preferences and WTP with a split sample approach where one group received a treatment in the form of additional information. We found that (i) all attributes had a significant influence on individuals' choices; (ii) both groups had, on average, a positive marginal WTP for all presented ecosystem services; (iii) the treated sample had, on average, no significantly different marginal WTP for carbon storage than the control group. This paper adds to the limited literature on the saltmarsh carbon storage ecosystem service and demonstrates a developed nation's public's openness to nature-based climate change mitigation solutions. [Display omitted] • The Scottish public on average prefers saltmarsh management over the status quo. • Providing additional information reduced heterogeneity in WTP for carbon storage. • Most respondents preferred an improvement of all saltmarsh ecosystem services. • Therefore management should focus on both climate change mitigation and adaptation. [ABSTRACT FROM AUTHOR]

To limit global warming to 1.5 °C, vast amounts of CO 2 will have to be removed from the atmosphere via Carbon Dioxide Removal (CDR). Enhancing the CO 2 sequestration of ecosystems will require not just one approach but a portfolio of CDR options, including so-called nature-based approaches alongside CDR options that are perceived as more technical. Creating a CDR "supply curve" would however imply that all carbon removals are considered to be perfect substitutes. The various co-benefits of nature-based CDR approaches militate against this. We discuss this aspect of nature-based solutions in connection with the enhancement of blue carbon ecosystems (BCE) such as mangrove or seagrass habitats. Enhancing BCEs can indeed contribute to CO 2 sequestration, but the value of their carbon storage is low compared to the overall contribution of their ecosystem services to wealth. Furthermore, their property rights are often unclear, i.e. not comprehensively defined or not enforced. Hence, payment schemes that only compensate BCE carbon sequestration could create tradeoffs at the expense of other important, often local, ecosystem services and might not result in socially optimal outcomes. Accordingly, one chance for preserving and restoring BCEs lies in the consideration of all services in potential compensation schemes for local communities. Also, local contexts, management structures, and benefit-sharing rules are crucial factors to be taken into account when setting up international payment schemes to support the use of BCEs and other nature- or ecosystem-based CDR. However, regarding these options as the only hope of achieving more CDR will very probably not bring about the desired outcome, either for climate mitigation or for ecosystem preservation. Unhalted degradation, in turn, will make matters worse due to the large amounts of stored carbon that would be released. Hence, countries committed to climate mitigation in line with the Paris targets should not hide behind vague pledges to enhance natural sinks for removing atmospheric CO 2 but commit to scaling up engineered CDR. [ABSTRACT FROM AUTHOR]

We use a dynamic global forest model to examine how U.S. tax reform could influence forest stocks and carbon sequestration. Scenario analysis estimates several impacts from adjusting current policies that affect timberland investment, area, harvests, and carbon. First, increases in tax rates faced by timberland owners cause timber assets to be revalued downward even though the physical forest is initially unchanged, resulting in substantial declines in both regeneration and management. Second, timber stocks fall over time, reflecting a decrease in investment. Third, tax revenues could increase by nearly $3.4 billion/yr compared to baseline, but at the expense of increasing trade deficits by up to $3.3 billion/yr. Fourth, timberland area could decrease by 12 million hectares. Last, cumulative carbon sequestration over the next 50 years could be reduced by more than 3 billion tCO2e, −22% from the current policy baseline if forestland tax incentives are removed. Fifth, maintaining the existing tax policies in perpetuity incentivizes carbon sequestration levels equivalent to imposing a price of $70/tCO2e on the forest sector, highlighting the ecosystem service benefits of maintaining current tax policy. Finally, we estimate that current US forest tax policy provides about $8 billion/yr in climate change mitigation benefits by 2050. • We model the impact of current forest taxation policy on the U.S. timber sector. • Tax provisions incentivize management, conservation, and carbon sequestration. • U.S. forest carbon could be reduced by 22% if tax provisions are removed. • Current policy equates to a carbon price of $70/tCO 2 e without tax incentives. [ABSTRACT FROM AUTHOR]

The long-term management of natural capital is essential for the stable and resilient flow of ecosystem services for future generations facing climatic uncertainty. Understanding its resilience to extreme natural events, using biological principles, and integrating them into more holistic systems-wide modelling techniques is crucial to evaluate and design the wider economic impacts from alternative management interventions. Here we developed a probabilistic and system-wide bio-economic model to measure extreme economic impacts from natural events using the financial concept of Value at Risk. We have applied the new extreme economic impact metric to measure the economy-wide impact from the disruption of mountain-biking recreational services in the Whakarewarewa peri-urban forest in Rotorua, New Zealand from a potential windthrow event. We identified that extreme natural events, such as windthrows, could exert a substantial impact on the urban forest-dependent regional economy. This impact could potentially be intensified by the CO 2 forest fertilization effects predicted under future climate scenarios and by adopting low-intensity silvicultural regimes currently rewarded by national climate change mitigation policies. Some of the insights from this study could be the precursors to develop robust adaptation strategies using robust decision-making techniques considering inclusive environmental-economic accounting frameworks. • Natural capital management is essential for services' resilience under climate change • Bio-economic model measuring impacts from extreme natural events using value-at-risk • Case of disrupted mountain-biking activities in urban forest from windthrow event • Climate change effects on forests will have wider impacts through ecosystem services • Managing forests to sequester carbon could have wide, unintended economic consequences [ABSTRACT FROM AUTHOR]

Peatlands provide habitats for many species and a variety of ecosystem services worldwide. In this study we used an integrated biophysical-economic modeling approach with multi-objective optimization to investigate how alternative land-use and land-management (LULM) options jointly affect economic returns from marketed (timber, energy peat, restoration costs) and non-marketed public goods (water quality, GHG emissions, biodiversity) in a typical landscape dominated by peatlands in northern Finland. We considered several LULM options including no action (the current state will continue), bioenergy wood harvesting, intensive forest management, restoration, and energy peat extraction with three after use options (no after use, reforestation, rewetting). Our study revealed strong tradeoffs between biodiversity and ecosystem services in drained peatlands. Optimal LULM depended strongly on the chosen objectives, i.e. whether marketed or non-marketed goods were preferred. For example, when the objective was carbon neutral land-use, the no action option was mostly chosen, while bioenergy wood harvesting was mostly chosen when the objective was to provide economic and environmental benefits at the same time. The strong tradeoff between biodiversity and ecosystem services indicates that compromises are unavoidable in order to obtain a multi-functional landscape which provides biodiversity conservation, climate change mitigation and water protection in a cost-effective manner. • Selection of alternative land-management options for peatlands was analyzed. • The cost-impact analysis utilized multi-objective optimization. • The variables were the NPV, biodiversity, climate impact, and water emissions. • A small decrease in the NPV resulted in a clear increase in environmental benefits. • Optimal land-management depended strongly on the chosen objectives. [ABSTRACT FROM AUTHOR]