Biological Carbon Sequestration and Carbon Trading Re-Visited
Under Kyoto, biological activities that sequester carbon can be used to create CO2 offset credits that could obviate the need for lifestyle-changing reductions in fossil fuel use. Credits are earned by storing carbon in terrestrial ecosystems and wood products, although CO2 emissions are also mitigated by delaying deforestation, which accounts for one-quarter of anthropogenic CO2 emissions. However, nonpermanent carbon offsets from biological activities are difficult to compare with each other and with emissions reduction because they differ in how long they prevent CO2 from entering the atmosphere. This is the duration problem; it results in uncertainty and makes it difficult to determine the legitimacy of biological activities in mitigating climate change. While there is not doubt that biological sink activities help mitigate climate change and should not be neglected, in this paper we demonstrate that these activities cannot be included in carbon trading schemes.
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- van Kooten, G. Cornelis & Sohngen, Brent, 2007.
"Economics of Forest Ecosystem Carbon Sinks: A Review,"
International Review of Environmental and Resource Economics,
now publishers, vol. 1(3), pages 237-269, September.
- G. Cornelis van Kooten & Brent Sohngen, 2007. "Economics of Forest Ecosystem Carbon Sinks: A Review," Working Papers 2007-02, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
- Susan Subak, 2003. "Replacing carbon lost from forests: an assessment of insurance, reserves, and expiring credits," Climate Policy, Taylor & Francis Journals, vol. 3(2), pages 107-122, June. Full references (including those not matched with items on IDEAS)