We aim to reach a scientific renewal of economics of forestry under climate change by an interdisciplinary approach, advanced analytical methods and economically strong theoretical bases. Our stand level model is unique with its capability to optimize a large set of management actions and the choice between clear-cut and continuous cover forestry. We optimize trade-offs between timber production, carbon stocks and sinks in mixed species forests with biodiversity objectives. At the level of timber supply/demand regions, we extend the state of the art by the inclusion of partial harvests in a model for optimal rotation and land allocation with timber price determination and forest age classes. We optimize market level trade-offs between timber, biodiversity, carbon storage and sinks and substitution between forest biomass and fossil fuels. Our models serve to balance timber production and climate change objectives at the forest owner, market, country and European Union levels.

2020

2024