The results of a sensitivity analysis of the “biodiversity rotation
age” to the carbon price showed that the “biodiversity rotation age”
and the bird density remained constant as the carbon price went
up, but the NPV increased. The results suggested that the increase in
the carbon price had no effect on the biodiversity rotation age (since
MVPwas binding), but led to a higher economic return to forest owners.
On the contrary, a higher carbon price made the “carbon rotation
age” shorter (Table 6). As the carbon price increased from 0.051
to 0.7 million VND tonne−1 (3 to 41.18 USD tonne−1), the optimal
rotation age decreased from eight to five years. As a result, the bird
density went down from 41 to 33 individuals ha−1. However, the
NPV increased from 13.01 to 59.12 million VND ha−1 (765.25 to
3477.74 USD ha−1).
4. Discussion and conclusions