Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

Abstract: The Russian-Ukrainian war increases the stress on forests. International sanctions hit exports from Russia and Belarus, while the conflict severely affects production in Ukraine. The three countries accounted for a quarter of the worldwide timber trade in 2021, and Russia was the world’s largest exporter of softwood. The war increases the European Union’s (EU’s) dependency on its own forest resources. This brings forward the challenge to achieve a balance between forests as carbon sink, habitat for biodiversity conservation, and functional ecosystems on the one hand, and on the other hand, the growing demand for wood-based materials harvested from forests and rising demand for renewable energy. Our study provides insights into this trade-off with regard to the climate goals, where EU’s forest-based bioeconomy may play a major role.

Keywords: Bioeconomy; biodiversity; climate-change; forest management; sustainability

JEL-codes: F18; H70; L73; Q54; Q57

Language: English

22 pages, August 22, 2022

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