Greenhouse Gas Abatement Policies and the Value of Carbon Sinks: Do Grazing and Cropping Systems have Different Destinies?
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The impact of two greenhouse gas abatement policies on two Mediterranean-type
farming systems, grazing dominant and cropping dominant, is examined. The policies
analysed are; an emissions taxation policy and an emissions restrictions policy. For
both farming systems the restriction policy is found to be more effective and
economically efficient than the carbon permit policy. Absolute cost of abatement is
less for the livestock dominant system but relative cost is greater, because of lower
total farm profits. The analysis found that at predicted emissions permit prices, trees,
if credited as a carbon sink, would be adopted by both farming systems to offset farm
greenhouse gas emissions.