The contribution of biomass to emissions mitigation under a global climate policy

Bioenergy production would boom and spur steep reductions in greenhouse gas emissions if a global price is slapped on carbon, Massachusetts Institute of Technology researchers say in a report released. Examining bioenergy production under a $15-per-metric-ton carbon price that would rise steadily to $59 in 2050, researchers found production hitting 150 exajoules by 2050 -- compared with below 50 exajoules without a carbon price. Global greenhouse gas emissions would plunge 16 percent under that scenario, the report says, cautioning that the carbon price studied doesn't take into account land-use changes. Taking into account emissions from land-use changes, including deforestation, it says greenhouse gas reduction would be nearly 60 percent from the no-carbon-price baseline.