Title
Summary
Contents
Forest Carbon Markets 4
Compliance Offset Markets 5
Kyoto Protocol. 6
European Union's Emission Trading Scheme. 8
Regional Initiatives in the United States. 8
Mandatory U.S. State Requirements. 9
Proposals in the 110th Congress. 9
Voluntary Offset Markets 10
Retail Offsets. 11
Chicago Climate Exchange. 11
Reporting and Registry Programs 11
1605(b) Reporting Program. 12
California Registry. 12
The Climate Registry. 12
USDA Guidelines. 13
Forestry Projects for Offsets 13
Afforestation and Reforestation. 13
Long-Term Wood Products. 15
Forest Management. 16
Avoided Deforestation. 17
Potential Drawbacks of Forestry-Related Projects 18
Additionality 18
Verifiability 19
Measurement. 19
Monitoring. 19
Enforcement. 19
Leakage 20
Emissions Leakage. 20
Product Leakage. 20
Permanence 20
Forward Crediting 21
Figure 1. Trading Volume and Market Value of the Clean Development Mechanism (2005-2007) 7
Figure 2. Estimated U.S. GHG Mitigation Totals by Activity: Annualized Averages, 2010-2110 14