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Foresty offsets in emissions trading systems: a link between systems?

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Abstract

An important aspect in the linking of different emissions trading schemes is the degree to which these systems allow (or ban) external offset project categories. The EU Emission Trading Scheme (EU ETS) currently allows the use of credits from energy and industry projects developed under the Kyoto Protocol’s Joint Implementation (JI) and Clean Development Mechanism (CDM) but excludes the use of carbon credits from forestry projects for compliance in the EU ETS. Forestry credits generated by the CDM have a limited lifetime and expire at the end of a project’s crediting period, or earlier if the carbon stock for which the credits have been issued ceases to exist. According to the recently adopted amendment of the EU ETS Directive forestry credits will remain to be excluded until 2020. The present article reviews how the New South Wales Greenhouse Gas Abatement Scheme (Australia), the Regional Greenhouse Gas Initiative (US) and the voluntary scheme of the Chicago Climate Exchange integrate forestry offsets into the respective system and how they deal with the risk of losing stored and credited biomass. By comparing the results of different scenarios this article shows how differences in the treatment of forestry offsets could impact the efforts to link various emission trading systems in future.

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Notes

  1. See Model rule http://www.rggi.org/modelrule.htm. The model rule does not give only details on how such use can technically be achieved.

  2. RGGI model rule, p 132

  3. lbid

References

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  • EC (2004) Directive 2004/101/EC of the European parliament and of the council of 27 October 2004 amending Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading within the Community, in respect of the Kyoto Protocol’s project mechanisms

  • EC (2008) Proposal for a directive of the European parliament and of the council amending directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading system of the Community, COM (2008) 16 final

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  • RGGI (2007) RGGI-model rule. Available at http://www.rggi.org/modelrule.htm

  • Schlamadinger B, Bosquet B, Streck C, Noble I, Dutschke M, Bird N (2005) Can the EU emission trading scheme support CDM forestry? Climate Policy, Vol. 5, Issue 2. Oxford University Press, London, pp 199–208

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  • UNFCCC (1997) United nations framework convention on climate change. Kyoto Protocol to the United Nations Framework Convention on Climate Change. UNFCCC

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Authors and Affiliations

  1. Climate Focus, Minervahuis III, Rodezand 34, 3011, AN, Rotterdam, The Netherlands

    C. Streck

  2. Johanneum Research, Institute of Energy Research, Elisabethstrasse 5, 8010, Graz, Austria

    A. Tuerk & B. Schlamadinger

Authors
  1. C. Streck
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  2. A. Tuerk
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  3. B. Schlamadinger
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Corresponding author

Correspondence to C. Streck.

Additional information

This chapter is dedicated to our colleague and friend Bernhard Schlamadinger who passed away on 28 August 2008.

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Streck, C., Tuerk, A. & Schlamadinger, B. Foresty offsets in emissions trading systems: a link between systems?. Mitig Adapt Strateg Glob Change 14, 455–463 (2009). https://doi.org/10.1007/s11027-009-9175-8

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  • DOI: https://doi.org/10.1007/s11027-009-9175-8

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