Abstract
Since 2000, carbon has emerged as a product of industrial plantations that complements wood production. The scale and scope of this market is expected to continue to expand. It provides opportunities for growers of industrial plantations. Forest growers with the ability to receive units for carbon sequestration and trade these units in a carbon market need to recognize the complementary cash flow generated by carbon. In order to do so they must be able to measure and predict carbon sequestration by industrial plantations. In conjunction with inputs on carbon prices and additional costs, this information can be used to evaluate the implications of carbon trading opportunities on forest profitability and forest management. This chapter provides an overview on the international framework that provides the background for carbon trading, the scope of the international carbon market and different approaches to carbon accounting, how carbon stocks are measured and modelled, the potential impact of carbon trading on forest management, including profitability, silviculture and optimum rotation age, and the risk associated with carbon trading and strategies for managing risk. The chapter refers to a CDM case funded by the World Bank’s prototype carbon fund in Brazil.
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Notes
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www.mfe.govt.nz/issues/climate/greenhouse-gas-emissions/net-position/index.html. Accessed 30 May 2010.
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Forestry offsets under the California program include Reforestation, Improved Forest Management and Avoided Conversion projects. Each offset credit equals one metric ton of carbon dioxide and must be ‘additional,’ that is, over and above any reductions already required by law or regulation. Forest Projects must continue to monitor, verify and report offset project data for a period of 100 years following any offset credit issuance. A portion of offset credits issued to the forest offset project will be placed into a forest buffer account. If a significant disturbance occurs leading to an unintentional reversal that reduces the forest project’s standing live carbon stocks below the forest project’s baseline standing live carbon stocks then the forest buffer account is used. If reversal is intentional all credits received must be retired with, in the case of Improved Forest Management projects, the credits scaled up by a “compensation rate”.
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Manley, B. (2014). Carbon Sequestration and Industrial Plantations. In: Borges, J., Diaz-Balteiro, L., McDill, M., Rodriguez, L. (eds) The Management of Industrial Forest Plantations. Managing Forest Ecosystems, vol 33. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-8899-1_14
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