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Scientia Silvae Sinicae ›› 2022, Vol. 58 ›› Issue (5): 161-176.doi: 10.11707/j.1001-7488.20220517

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Risk of Forestry Carbon Sink Project Based on Coupling Effect

Feng Lu1,Guangtong Gu1,2,3,Xianlei Cao4,Weiguang Wu1,2,3,*   

  1. 1. College of Economics and Management, Zhejiang A&F University Lin'an 311300
    2. Zhejiang Province Key Cultivating Think Tank——Research Academy for Rural Revitalization of Zhejiang Province, Zhejiang A&F University Lin'an 311300
    3. Institute of Ecological Civilization & Institute of Carbon Neutrality, Zhejiang A&F University Lin'an 311300
    4. Faculty of International Trade, Shanxi University of Finance and Economics Taiyuan 030006
  • Received:2021-06-07 Online:2022-05-25 Published:2022-08-19
  • Contact: Weiguang Wu

Abstract:

Objective: Based on the perspective of the risk coupling effect of forestry carbon sink projects, the risk level was measured and evaluated in this study, in order to provide decision-making reference for the risk supervision of project operators and government departments. Method: A questionnaire of 113 forestry carbon sink experts from different fields was conducted on the risk categories, risk occurrence probability and influence degree of forestry carbon sink projects. Firstly, the project risks were classified concretely, and the project risk list was formed, including 4 risk subsystems such as nature, technology, market and policy, with a total of 22 risk factors. Then, according to the literature and combined with the characteristics of forestry carbon sink project, the coupling relationship between risk factors within and among risk subsystems of forestry carbon sequestration projects was analyzed in detail. A system dynamics model for risk assessment of forestry carbon sequestration projects was constructed on the basis of risk coupling diagram and risk stock-flow diagram. All parameters of system dynamics operation were obtained, and VENSIM software was used to measure and evaluate the overall risk level and coupling effect of the project by scenario simulation method. Result: 1) The coupling effect had a significant impact on the risk assessment result of forestry carbon sink projects, and the intensity of homogeneous coupling effect iwasgreater than heterogeneous coupling effect. When both homogeneous coupling and heterogeneous coupling effects were considered, the overall risk level of forestry carbon sink projects was 6.784, and the risk level is III. However, when both homogeneous coupling effect and heterogeneous coupling effect were not considered, only heterogeneous coupling effect or homogeneous coupling effect was considered, the overall risk level of forestry carbon sink projects decreased to 0.355, 0.929 and 3.102 respectively, and the risk levels changed to I, I and II respectively. 2) The coupling effects of different risk subsystems were obviously different. Specifically, under three different scenarios, in which only homogeneous coupling effect, heterogeneous coupling effect and two coupling effects were considered simultaneously, the order of coupling effect of each risk subsystem was market risk > policy risk > technology risk > natural risk. 3) Only considering the homogeneous coupling scenario, the coupling effect of "carbon sink price change and carbon market supply change" was the strongest. Only considering the heterogeneous coupling effect, the coupling effect of "the change of national emission reduction policy and the change of carbon market supply" was the strongest. Considering the two coupling effects at the same time, the coupling effect of "the change of national emission reduction policy and the change of carbon market supply" was the strongest. 4) In terms of risk level and coupling effect, the market and policy risks were relatively large, while the technical and natural risks were relatively small, but the heterogeneous coupling effect can gradually enlarge the overall risk of the project. Conclusion: In the risk supervision of forestry carbon sink projects, we should not only pay attention to the risk level itself, but also attach importance to the coupling effect between risks, and guard against the evolution between risks and the rise of the overall risk level from the source.

Key words: forestry carbon sink project, coupling effect, risk, system dynamics

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