Perspectives of Private Forest Owners toward Investment in Forest Carbon Offset Projects: A Case of Geumsan-Gun, South Korea
Abstract
:1. Introduction
1.1. Research Background
1.2. Theory of Forest Investment
1.3. Literature Review
1.4. Rationale
2. Materials and Methods
2.1. Site Selection and Survey Development
2.2. Variable Description
2.3. Empirical Model
2.4. Impact of an FMC on Willingness to Invest in FCO
3. Results
3.1. Survey Result
3.2. Sample Description
3.3. Logistic Regression Models
3.4. Impact of Forest Management Contract on Willingness to Invest in an FCO Project
4. Discussion
4.1. Model 1 Determinants of Forest Owners’ Willingness to Invest in FCO Projects
4.2. Model 2 Determinants of Forest Owners’ Willingness to Invest in FCO Projects
4.3. Role of Forest Management Contract for Private Forest Owners
5. Conclusions
Author Contributions
Funding
Acknowledgments
Conflicts of Interest
References
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Characteristic | Explanation |
---|---|
Project description | A forest management project that is used to issue forest carbon offset credits through carbon sequestration from tree growth. |
Project costs | Project development costs and a registration fee are subsidized by the government. |
Expected revenue | Credits will be sold at 15,000 KRW/tCO2, which corresponds to 80,000–100,000 KRW/ha as expected revenue. |
Opportunity costs | Timber revenue may decrease as a result of delayed harvest or change of tree species for regeneration. |
Limitation | Conversion of forest for other land use is prohibited during the project implementation period of 20 to 30 years. |
Variable | Definition | Hypothesized Effect on Dependent Variable |
---|---|---|
Forest characteristics | ||
FSIZE | Total amount of forest parcel(s) owned in hectare | Positive |
FAGE | Forest stand age class (I = 1, II = 2, III = 3, IV = 4, V = 5, and VI and older = 6; class interval is 10 years) | Negative |
BROAD | Majority (75% and higher) of trees are broadleaved (1 if yes, 0 if otherwise) | Positive |
Experience in forestry support programs | ||
COSTS | Experience in a cost-sharing program in past five years (1 if yes, 0 otherwise) | Positive |
ASSIST | Experience in technical assistance or training in past five years (1 if yes, 0 otherwise) | Positive |
Forest owner characteristics | ||
AGE | Forest owner age in years | Negative |
INCOME | Annual income in million KRW (0–10 = 1, 10–20 = 2, 20–30 = 3, 30–40 = 4, and 50 or more = 5) | Positive |
RESIDE | Residence in Geumsan-gun (1 if yes, 0 otherwise) | Negative |
EDU | Highest education completed (no education = 1, elementary = 2, middle = 3, high = 4, college = 5, and graduate school = 6) | Positive |
PURCHASE | Land acquired by purchase (1 if yes, 0 otherwise) | Positive |
ENVKNOW | Common knowledge in environmental issues (one point for each of five questions) | Positive |
ENVBELIEF | Agreement with climate change statements (Likert scale 1 “Strongly disagree” to 5 “Strongly agree”) | Positive |
Management characteristics | ||
ACTIVE | Active in forest production (1 if full-time or part-time forestry, 0 otherwise) | Negative |
HARVPAST | Timber harvested in the past (1 if yes, 0 otherwise) | Negative |
HARVPLAN | Plans to harvest in the future (1 if yes, 0 otherwise) | Negative |
PRODUCT | Primary management purpose is making forest products (1 if yes, 0 otherwise) | Negative |
MGMTPLAN | Forest management plan established (1 if yes, 0 otherwise) | Positive |
Variable | All (n = 132) | Group 1 (n = 62) | Group 2 (n = 32) | Group 3 (n = 38) | χ2 | |||||
---|---|---|---|---|---|---|---|---|---|---|
Freq. a | % | Freq. a | % | Freq. a | % | Freq. a | % | |||
Age | Below 40 | 1 | 0.8 | 0 | 0 | 1 | 3.1 | 0 | 0.0 | 37.096 (p = 0.004) |
41–50 | 23 | 17.4 | 6 | 9.7 | 5 | 15.6 | 12 | 31.6 | ||
51–60 | 45 | 34.1 | 16 | 25.8 | 21 | 65.6 | 8 | 21.1 | ||
61–70 | 45 | 34.1 | 25 | 40.3 | 5 | 15.6 | 15 | 39.5 | ||
71–80 | 16 | 12.1 | 13 | 21.0 | 0 | 0.0 | 3 | 7.9 | ||
81 and older | 2 | 1.5 | 2 | 3.2 | 0 | 0.0 | 0 | 0.0 | ||
Mean | 60.4 | 64.3 | 55.1 | 58.6 | ||||||
Education | Elementary | 13 | 9.8 | 7 | 11.3 | 2 | 6.3 | 4 | 10.5 | 9.845 (p = 0.276) |
Middle school | 16 | 12.1 | 10 | 16.1 | 2 | 6.3 | 4 | 10.5 | ||
High school | 54 | 40.9 | 20 | 32.3 | 13 | 40.6 | 21 | 55.3 | ||
College | 41 | 31.1 | 20 | 32.3 | 12 | 37.5 | 9 | 23.7 | ||
Graduate | 8 | 6.1 | 5 | 8.1 | 3 | 9.4 | 0 | 0.0 | ||
Annual income (million KRW) | Less than 10 | 21 | 15.9 | 16 | 25.8 | 2 | 6.3 | 3 | 7.9 | 22.917 (p = 0.011) |
10–20 | 24 | 18.2 | 12 | 19.4 | 4 | 12.5 | 8 | 21.1 | ||
20–30 | 27 | 20.5 | 10 | 16.1 | 6 | 18.8 | 11 | 28.9 | ||
30–40 | 19 | 14.4 | 7 | 11.3 | 5 | 15.6 | 7 | 18.4 | ||
40–50 | 22 | 16.7 | 7 | 11.3 | 6 | 18.8 | 9 | 23.7 | ||
More than 50 | 19 | 14.4 | 10 | 16.1 | 9 | 28.1 | 0 | 0.0 | ||
Residence | Nearby | 86 | 65.2 | 37 | 59.7 | 23 | 71.9 | 26 | 68.4 | 1.634 (p = 0.442) |
Absentee | 46 | 34.8 | 25 | 40.3 | 9 | 28.1 | 12 | 31.6 |
Management Characteristics | All (n = 132) | Group 1 (n = 62) | Group 2 (n = 32) | Group 3 (n = 38) | χ2 * | |||||
---|---|---|---|---|---|---|---|---|---|---|
Freq. a | % | Freq. a | % | Freq. a | % | Freq. a | % | |||
Land purchased | 43 | 32.6 | 11 | 17.7 | 20 | 62.5 | 12 | 31.6 | 19.275 (p = 0.000) | |
Full-time or part-time forestry | 54 | 40.9 | 20 | 32.3 | 26 | 81.3 | 8 | 21.1 | 29.660 (p = 0.000) | |
Harvest in the past | 49 | 37.1 | 23 | 37.1 | 8 | 25.0 | 18 | 47.4 | 3.724 (p = 0.155) | |
Harvest in the future | 33 | 25.0 | 16 | 25.8 | 9 | 28.1 | 8 | 21.1 | 0.504 (p = 0.777) | |
Management plan established | 39 | 29.5 | 9 | 14.5 | 14 | 43.8 | 16 | 42.1 | 12.709 (p = 0.002) | |
Primary goal is forest products | 37 | 28.0 | 7 | 11.3 | 20 | 62.5 | 10 | 26.3 | 27.515 (p = 0.000) | |
Broadleaved forest | 50 | 37.9 | 24 | 38.7 | 10 | 31.3 | 16 | 42.1 | 0.904 (p = 0.636) | |
Experience in cost-sharing | 36 | 27.3 | 21 | 33.9 | 12 | 37.5 | 3 | 7.9 | 10.242 (p = 0.006) | |
Experience in tech assistance | 51 | 38.6 | 7 | 11.3 | 17 | 53.1 | 27 | 71.1 | 39.231 (p = 0.000) | |
Forest size (ha) | 0–2.0 | 34 | 25.8 | 15 | 24.2 | 4 | 12.5 | 8 | 21.1 | 22.763 (p = 0.004) |
2.1–5.0 | 43 | 32.6 | 21 | 33.9 | 7 | 21.9 | 22 | 57.9 | ||
5.1–10.0 | 21 | 15.9 | 9 | 14.5 | 5 | 15.6 | 7 | 18.4 | ||
10.1–50.0 | 29 | 22.0 | 15 | 24.2 | 13 | 40.6 | 1 | 2.6 | ||
50.0 | 5 | 3.8 | 2 | 3.2 | 3 | 9.4 | 0 | 0.0 | ||
Mean | 9.77 | 9.97 | 16.83 | 2.5 | ||||||
Forest stand age class | I | 39 | 29.5 | 36 | 58.1 | 2 | 6.3 | 1 | 2.6 | 55.699 (p = 0.000) |
II | 11 | 8.3 | 3 | 4.8 | 6 | 18.8 | 2 | 5.3 | ||
III | 13 | 9.8 | 2 | 3.2 | 5 | 15.6 | 6 | 15.8 | ||
IV | 37 | 28.0 | 12 | 19.4 | 9 | 28.1 | 16 | 42.1 | ||
V | 28 | 21.2 | 7 | 11.3 | 8 | 25.0 | 13 | 34.2 | ||
VI and older | 4 | 3.0 | 2 | 3.2 | 2 | 6.3 | 2 | 6.3 |
Variable | Hypothesized Effect | Model 1 All Respondents (n = 132) | Model 2-1 Group 1 (n = 62) | Model 2-2 Group 2 and 3 (n = 70) |
---|---|---|---|---|
FSIZE | Positive | 0.041 *** (0.016) | 0.059 (0.032) | 0.059 ** (0.025) |
FAGE | Negative | −0.322 ** (0.159) | −0.106 (0.256) | −0.703 (0.436) |
BROAD | Positive | 0.843 * (0.446) | 1.931 ** (0.957) | 1.482 (1.025) |
COSTS | Positive | 1.259 ** (0.538) | −0.150 (0.908) | 3.702 *** (1.264) |
ASSIST | Positive | −0.051 (0.500) | 0.216 (1.444) | −0.258 (0.868) |
AGE | Negative | −0.004 (0.031) | −0.014 (0.064) | −0.082 (0.066) |
INCOME | Positive | −0.141 (0.181) | −0.209 (0.337) | −0.195 (0.360) |
RESIDE | Negative | −0.727 (0.501) | 0.961 (1.059) | −1.107 (0.859) |
EDU | Positive | −0.124 (0.297) | 0.026 (0.606) | 0.308 (0.560) |
PURCHASE | Positive | −0.048 (0.504) | 2.457 * (1.361) | −0.963 (0.814) |
ENVKNOW | Positive | −0.051 (0.173) | −0.695 (0.428) | 0.106 (0.421) |
ENVBELIEF | Positive | 0.370 *** (0.136) | 1.064 *** (0.346) | 0.281 (0.311) |
ACTIVE | Negative | −0.282 (0.487) | −1.993 (1.213) | −0.087 (1.042) |
HARVPAST | Negative | −0.868 * (0.516) | 0.172 (0.903) | −1.141 (1.302) |
HARVPLAN | Negative | 0.674 (0.501) | 0.534 (1.051) | 0.158 (1.061) |
PRODUCT | Negative | −0.884 (0.629) | 0.133 (1.822) | −3.002 ** (1.520) |
MGMTPLAN | Positive | 0.532 (0.531) | 5.618 * (2.886) | 0.315 (0.878) |
Constant | −1.572 (2.815) | −1.541 (2.813) | 3.494 (5.834) | |
Goodness-of-fit statistics | ||||
Log likelihood ratio (χ2) | 39.200 (p = 0.003) | 34.400 (p = 0.007) | 38.600 (p = 0.002) | |
Cox and Snell R2 | 0.257 | 0.426 | 0.424 | |
Nigelkerke R2 | 0.343 | 0.571 | 0.578 | |
Hosmer–Lemeshow (χ2) | 12.262 (p = 0.140) | 8.293 (p = 0.405) | 5.565 (p = 0.696) |
Willingness | All (n = 132) | Group 1 (n = 62) | Group 2 (n = 32) | Group 3 (n = 38) | χ2 | ||||
---|---|---|---|---|---|---|---|---|---|
Freq. a | % | Freq. a | % | Freq. a | % | Freq. a | % | ||
Yes | 61 | 46.2 | 35 | 56.5 | 13 | 40.6 | 13 | 34.2 | 5.219 (p = 0.074) |
No | 71 | 53.8 | 27 | 43.5 | 19 | 59.4 | 25 | 65.8 | |
Total | 132 | 100.0 | 62 | 100.0 | 32 | 100.0 | 38 | 100.0 |
Willingness | All (n = 132) | Group 1 and A (n = 82) | Group B (n = 50) | χ2 | |||
---|---|---|---|---|---|---|---|
Freq. a | % | Freq. a | % | Freq. a | % | ||
Yes | 61 | 46.2 | 42 | 51.2 | 19 | 38.0 | 2.184 (p = 0.139) |
No | 71 | 53.8 | 40 | 48.8 | 31 | 62.0 | |
Total | 132 | 100.0 | 82 | 100.0 | 50 | 100.0 |
Willingness | All (n = 132) | Group 1 (n = 62) | Group A (n = 20) | Group B (n = 50) | χ2 | ||||
---|---|---|---|---|---|---|---|---|---|
Freq. a | % | Freq. a | % | Freq. a | % | Freq. a | % | ||
Yes | 61 | 46.2 | 35 | 56.5 | 7 | 35.0 | 19 | 38.0 | 4.983 (p = 0.083) |
No | 71 | 53.8 | 27 | 43.5 | 13 | 65.0 | 31 | 62.0 | |
Total | 132 | 100.0 | 62 | 100.0 | 20 | 100.0 | 50 | 100.0 |
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Shin, S.; Yeo-Chang, Y. Perspectives of Private Forest Owners toward Investment in Forest Carbon Offset Projects: A Case of Geumsan-Gun, South Korea. Forests 2019, 10, 21. https://doi.org/10.3390/f10010021
Shin S, Yeo-Chang Y. Perspectives of Private Forest Owners toward Investment in Forest Carbon Offset Projects: A Case of Geumsan-Gun, South Korea. Forests. 2019; 10(1):21. https://doi.org/10.3390/f10010021
Chicago/Turabian StyleShin, Seunguk, and Youn Yeo-Chang. 2019. "Perspectives of Private Forest Owners toward Investment in Forest Carbon Offset Projects: A Case of Geumsan-Gun, South Korea" Forests 10, no. 1: 21. https://doi.org/10.3390/f10010021
APA StyleShin, S., & Yeo-Chang, Y. (2019). Perspectives of Private Forest Owners toward Investment in Forest Carbon Offset Projects: A Case of Geumsan-Gun, South Korea. Forests, 10(1), 21. https://doi.org/10.3390/f10010021