Forestry investment – In a move that demonstrates its commitment to using trees to offset carbon emissions, the United Nations Framework Convention on Climate Change (UNFCCC) has released a technical paper examining the costs of planting forests to offset carbon emissions. It also looks at how this process can be streamlined.
The paper examines the cost of implementing individual measuring systems and methodologies for each carbon offset scheme. Each scheme needs to be able to measure greenhouse gas emissions based on forest degradation and deforestation, as well as measuring carbon stocks in relation to the level of forest-carbon stocks and forest cover.
These measuring systems allow projects to analyse how successful this use of forestry is in the fight against climate change and carbon emissions.
The technical paper includes information on the implementation of monitoring systems for carbon offsetting using forests and the potential costs involved. It also considers ways to enhance the understanding of costs involved in monitoring the reduction of carbon resulting from the use of forest carbon stocks and the increase in carbon emissions caused by deforestation.
The UNFCCC wants parties with experience of these types of carbon offsetting schemes to contribute advice on how the methodologies can be streamlined and standardised to cut the costs of such projects in the developing world