Bull G FEMC2007

Environmental Services Markets in Forestry

Gary Bull, Forest Resources Management Department, 2022-2424 Main Mall, Faculty of Forestry, University of British Columbia, Vancouver, BC, V6T 1Z4, Canada, gary.bull@ubc.ca

Future forest estate models will have to start explicitly incorporating other forest values other than timber. Already market price signals and market transaction exist for carbon, biodiversity, water and recreation on forest lands. In British Columbia, for the markets to develop and thrive in a regulated (as opposed to a voluntary) manner we will need to develop new forms of property rights, new clearing houses for these environmental goods, and proper environmental accounting procedures. Modellers should start modifying their tools now to incorporate these values. Governments, First Nations, NGOs and industry need advice on the plausible scenarios that could be used to manage forest and wildland landscapes with the multiple income flows from environmental services. Timber may well become a second class citizen.