  Nitrogen fertilization of boreal forests is investigated in terms of
microeconomics, as a tool for carbon sequestration. The effects of nitrogen
fertilization's timing on the return rate on capital and the expected value of
the timber stock are investigated within a set of semi-fertile,
spruce-dominated boreal stands, using an inventory-based growth model. Early
fertilization tends to shorten rotations, reducing timber stock and carbon
storage. The same applies to fertilization after the second thinning.
Fertilization applied ten years before stand maturity is profitable and
increases the timber stock, but the latter effect is small. Fertilization of
mature stands, extending any rotation by ten years, effectively increases the
carbon stock. Profitability varies but is increased by fertilization, instead
of merely extending the rotation.
