Capital Valuation of Sustainable Forest Management in Collaboration with Public People:

A Case Study of Plantation Forests at the Upper Reaches of Changjiang River in China

Abstract

Public participation has played little or no role in forest management and forest valuation until recently. However it is indispensable for the purpose of realizing sustainable forest management. At first, we reviewed traditional methods of capital valuation in forest management. Secondly, we indicate a new method “u” (k+CS)” by expanding Hirata’s theory “uk”. This “u” is rotation period, “k” is sustaining cost and “CS” is compensating surplus. Third, we applied this method to Pinus yunnanesis forests located at the upper reaches of Changjiang River in China. Finally, after considering rotation period of forest ecosystem as well as maturity of society, we show “u' [k+α (CS+ε)]” as capital valuation of sustainable forest management in collaboration with pubic people.