Agriculture Reference
In-Depth Information
permanent C sink is one option, it is better to harvest and replant the sites,
either sequestering C in wood products or reducing emissions from
fossil fuels by generating energy from wood biomass instead. We consider
the latter option because studies indicate that, if trees are harvested for pulp
and other wood products, stumpage prices will fall, thus leading owners to
convert forestland to other uses. Land use issues related to biomass burning
are examined further in section 3. Finally, in section 4, we consider
economic instruments and institutions (regulation and markets) for
enhancing forestry's part in mitigating climate change. The conclusions
ensue.
2. FORESTRY'S CONTRIBUTION TO CLIMATE
CHANGE: LAND USE CHANGE
At the third Conference of the Parties (COP) to the 1992 UN Framework
Convention on Climate Change at Kyoto, December 11, 1997,
industrialized countries agreed to reduce their emissions by an average
5.2% from the 1990 level by 2008-2012. Article 3.3 of the Kyoto Protocol
permits countries to store carbon in forest sinks in lieu of reducing
emissions; reforestation and afforestation can provide carbon credits
(deforestation results in a debit), while burning of wood biomass for energy
in place of fossil fuels reduces emissions. Article 3.4 leaves to
negotiation the role of other carbon (C) sinks, such as wood product, soil
and wetland sinks. As a result, policy makers and researchers are interested
in the potential role of terrestrial sinks in mitigating climate change, and in
institutions and economic incentives that treat certified carbon credits (or
emission offsets) in the same way as actual emissions reduction. Thus,
countries with a significant landmass hope to use domestic forestry projects
to achieve a significant component of their Kyoto target. Canada, for
example, envisions meeting 22% of its Kyoto commitment through
terrestrial sinks (Canadian Pulp & Paper Association 2000).
Carbon credits can also be obtained for activities in developing
countries and economies in transition. Kyoto's Clean Development
Mechanism (CDM) enables industrialized countries to purchase certified
offsets from developing countries by sponsoring projects that reduce
emissions below business-as-usual levels in those countries. Likewise,
emission reduction units can be produced through Joint Implementation
(JI) projects in countries whose economies are in transition. Projects that
prevent or delay deforestation and land-use change, or result in the
establishment of plantation forests, are eligible under the CDM and JI.
Collectively the terrestrial carbon sink projects described above are
referred to as land use change and forestry (LUCF) projects. What is
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