The Value Assessment On Forestry Carbon Sequestration Project Based On Option Pricing Theory

Global climate change has become an international society's environmental problems.All countries are taking active measures to cope with this change,and carbon sequestration can offset emissions of carbon dioxide,to slow global climate change,therefore forestry carbon sequestration project to alleviate global climate change,have the effect that cannot ignore.So,give full play to the ecological benefits of forestry project is of great practical significance.But as a result of forestry carbon sequestration project operation cycle is long,the more uncertain factors,traditional evaluation methods can't accurate measurement,so the real option pricing model to assess the value of forestry carbon sequestration project has the objectivity and accuracy.Based on summarizing the scholars at home and abroad in recent years on forestry carbon sinks function and value of relevant research achievements and relevant theoretical basis,on the basis of analysis of forestry carbon sequestration projects and the development status of the carbon market,and use the voluntary emissions trading information platform in China,the Chinese forestry statistical yearbook and statistical data,such as Beijing environment by using the modified Faustmann model to evaluate the initial value of forestry carbon sequestration project,again through the binary tree option pricing model accounting its expected value.On this basis,the construction of forestry carbon sequestration project value evaluation model,and carry on the empirical analysis,it is concluded that the expectation of project value and influence factors analysis.Finally put forward to some countermeasures and Suggestions on the development of forestry carbon sequestration projects.The conclusion of this study are as follows:the value of forestry carbon sequestration project is influenced by many factors.First of all,the business cost has significant negative impact on the project value,secondly,the price of carbon sinks,timber price and the project of the initial value is affecting its ultimate value.Finally,in the first phase of the project management,assets value rise or fall has a completely different influence on project investment benefit.When rising asset values is in the first stage project has increase economic benefit and ecological benefit of investment,but if the project is on the decline in the first phase,the investment in the forestry carbon sequestration projects will not have economic benefits and ecological benefits.At the end of this article,combining with the above conclusion from the government level,market level and management level put forward relevant countermeasures and Suggestions.Firstly puts forward the government and government subsidy policy implementation of rights and interests security system,and then from the market level,put forward improving carbon market,promote the development of carbon financial services.Finally put forward from the management level in scientific management of woodland resource reasonably namely,improve the level of forest cultivation and supervision system and determine the optimal rotational felling trees period.