Classical forest economics posits an optimal sequence of constant rotations. Projected variation of discount rate changes optimal rotation through time, as does projected relative price change for multiple products. These factors greatly increase the difficulty of calculating NPV of...

This paper considers the effects of CO2 emission trading system on the substitution between coal and energy wood in the large scale heat and power production in Europe. We use a technology-based approach where the substitution between coal and wood takes place through switch from one technology...

The sustainability issue has gained importance during the last two and a half decades, starting with the UN Report “Our Common Future”. As the transformation to a sustainable economy is far from being an automatism, instruments to foster sustainable development are required. This demand has...

In Finland the Forest Biodiversity Programme for Southern Finland (METSO) aims to halt the decline in forest habitats and species and establish stable favorable trends in forest biodiversity by 2016. Forest protection in the context of the METSO Programme is based on voluntary actions by...

A common perception in forest economics is that the celebrated ‘Faustmann formula’ was discovered in 1849 and that the ‘Faustmann rule’ or Faustmann-Pressler solution to the optimal rotation age was derived from it a decade later by Pressler. Recent research has significantly extended...

In the context of the Government’s Climate and Energy Strategy, it is estimated that the primary use of wood-based fuels in Finland will be about 100 TWh by the year 2020. The overall target set for forest chips is 25 TWh. The objective of the research carried out by Metsäteho Oy and Pöyry...

We are 14 years into the 21st century. Forest sciences and research, a multifaceted combination of a number of academic disciplines, have existed and developed over several decades. In this note, I first discuss some current societal challenges or “drivers”, then how this relates to forestry...

Taking responsibility refers to balancing economic, social, and environmental concerns. Based on a short literature review about corporate responsibility and research about small scale forest owners this paper discusses small scale forest owners’ responsibilities for achieving a true...