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Can the EU emission trading scheme support CDM forestry?

Author

Listed:
  • Bernhard Schlamadinger
  • Benoit Bosquet
  • Charlotte Streck
  • Ian Noble
  • Michael Dutschke
  • Neil Bird

Abstract

The European Commission is mandated to consider the inclusion of credits from land-use projects under the clean development mechanism (CDM) and joint implementation (JI), beginning with the second period of the European Union's emission trading scheme (ETS) in its report due in July 2006. Temporary credits from afforestation and reforestation under the CDM are seen by many as posing a technical problem for their use under the ETS. This article summarizes three feasible, efficient and environmentally sound alternatives for achieving the integration of such temporary credits in the European emissions trading market starting in 2008. The first proposal integrates tCERs and lCERs (temporary credits) into the EU ETS by allowing for their direct use for compliance purposes. The second proposal builds on the idea of swapping temporary credits for EU allowances (EUAs) by Member States. The third proposal would not require a political decision at the EU level. Instead supportive Member States or private carbon fund operators would agree to swap temporary credits for the CERs or ERUs they hold in their accounts. All three solutions would be linked to a risk-mitigation strategy based on levying a fee or fixing an exchange rate, which would allow governments to hedge the risk of losing temporary credits.

Suggested Citation

  • Bernhard Schlamadinger & Benoit Bosquet & Charlotte Streck & Ian Noble & Michael Dutschke & Neil Bird, 2005. "Can the EU emission trading scheme support CDM forestry?," Climate Policy, Taylor & Francis Journals, vol. 5(2), pages 199-208, March.
    • Handle: RePEc:taf:tcpoxx:v:5:y:2005:i:2:p:199-208
    DOI: 10.1080/14693062.2005.9685550
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    Cited by:

    1. C. Streck & A. Tuerk & B. Schlamadinger, 2009. "Foresty offsets in emissions trading systems: a link between systems?," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 14(5), pages 455-463, June.
    2. Mark Purdon, 2010. "The clean development mechanism and community forests in Sub-Saharan Africa: reconsidering Kyoto’s “moral position” on biocarbon sinks in the carbon market," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 12(6), pages 1025-1050, December.

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