FOREST SECTOR CARBON OFFSET PROJECTS - NEAR-TERM OPPORTUNITIES TO MITIGATE GREENHOUSE-GAS EMISSIONS

The Framework Convention on Climate Change separately recognizes sourc es and sinks of greenhouse gases and provides incentives to establish C offset projects to help meet the goal of stabilizing emissions. Fore st systems provide multiple opportunities to offset or stabilize green house emissions through a reduction in deforestation (C sources), expa nsion of existing forests (CO2 sinks) or production of biofuels (offse t fossil fuel combustion). Attributes and dimensions of eight forest-s ector C offset projects, established over the past three years, were e xamined. The projects, mostly established or sponsored by US or Europe an electric utilities, propose to conserve/sequester over 30 x 10(6) M g C in forest systems at an initial cost of $1 to 30 Mg C. Given the r elative novelty and complexity of forest sector C offset projects, a n umber of biogeochemical, institutional, socio-economic, monitoring, an d regulatory issues merit analysis before the long-term potential and cost effectiveness of this greenhouse gas stabilization approach can b e determined.