A Financial Assessment of Windstorm Risks for Scots Pine Stands in Hemiboreal Forests

Windstorms are a significant disturbance in northern European Scots pine forests. Mechanistic models for assessment of their impact have been developed. The aim of our study was to assess the impact of windstorms on the financial value of Scots pine (Pinus sylvestrisL.) stands. Wind damage probability in stands with certain dimensions (linked to age and site index) and the reduced value retrieved from salvage logging instead of planned harvest in undamaged stands were used for calculation. Equivalent annual annuity with interest rates of 3%, 4%, and 5%, three different commercial thinning regimes, and different planting densities were used to assess the mean influence. Wind damage risk had a notable and significant negative effect on the financial value of Scots pine forest stands. Equivalent annual annuity decreased sharply with stand age, especially in the most productive sites (SI 36). The negative financial impact could be reduced by selection of a lower initial planting density (1000-2000 trees ha(-1)instead of 3000) and by reducing the rotation period, for example, by using target diameter as the criteria for the time of final harvest.