The time value of carbon and carbon storage: clarifying the terms and the policy implications of the debate

This paper presents methodologies for using social cost of carbon estimates to address the value of temporarily stored carbon and the implications of that value in the context of biological offsets and
life-cycle analyses of the GHG content of biofuels. The paper is designed to advance the dialogue in these areas by clarifying the concepts involved and moving discussion beyond theoretical debate to exploring the potential policy applications of actual estimates.