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The forestry context

The Carbo Mark project Making forest carbon offsets financially viable at local level Silvia Stefanelli - Autonomous Region Friuli Venezia Giulia (Italy) VOLUNTARY CARBON MARKETS London 12-13 October 2009. European forests - Biomass carbon stock increase in the last 50 years

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The forestry context

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  1. The Carbo Mark project Making forest carbon offsets financially viable at local levelSilvia Stefanelli - Autonomous Region Friuli Venezia Giulia (Italy)VOLUNTARY CARBON MARKETSLondon 12-13 October 2009

  2. European forests - Biomass carbon stock increase in the last 50 years Forest annual change rate in Italy + 1.1% Italian forests contribute to mitigating GHG emissions Italy included Forest Management in the KP (Art.3.4) Only 15% of FM carbon uptake is accounted in KP North-East of Italy – Harvesting much less than the increment Climatic forest service “not compensated” The forestry context

  3. Objectives of the CarboMark Project • Set up a local voluntary carbon market for forestry credits • Compensate existing carbon saving forest management • Develop robust methodology • New forest offsets activities • 4 partners involved - 2 Regions 2 Universities • EU LIFE + Budget € 1,088,028 • Pilot market (2009-2011) then take off

  4. Compensation for carbon saving management practices Paying for ecosystem services (PES) from SMF Adoption of green policies (wood products, urban forestry, biochar) SME demand for credits generated locally Positive local impacts Willingness to pay a premium price €€€ “CarboMark” branding Pre-compliance Why a local voluntary market? SELLERS SIDE BUYERS SIDE

  5. Which forest activities? SUSTAINABLYMANAGED FORESTS Demand for carbon offsets generated locally WOOD PRODUCTS URBAN FORESTRY

  6. Sustainably Managed Forestry methodology Baseline Additionality test Permanence Existing mandatory forest plans Annual growth known Certification (PEFC) Additional carbon uptake No Double Counting Forest Reserve Pool Disturbances index linked + Binding agreements with forest owners Certification (University) External registry Credits retirement Credits release Binding contract with credit sellers

  7. CI: 85% of current increment (15% forest management accounted under KP) e: growth model uncertainty d: local disturbances index (fires, windthrows, pest outbreaks) Y: annual planned yield SMF - What generates the carbon credit? • Carbon saving forest management • Wood harvest lower than increment - Difference is set aside for carbon credits (m3 ha yr) = 85% CI (1- e -d) – Y Net annual growth in carbon stock M3/ha t/C/ha/yr t/CO2 eq/ha Forest carbon credits t/CO2 eq

  8. Willingness to pay a high price for credits t/CO2 price on the global market Level of interest among SME’s Local political support Post-Kyoto agreements in the forest sector Scale up the model to other regions/countries Challenges & risks

  9. Thank you for the attention Questions…? CarboMark Project Technical secretariat: Maurizio Dissegna (lead partner) - maurizio.dissegna@regione.veneto.it Silvia Stefanelli - silvia.stefanelli@regione.fvg.it Scientific secretariat: Tommaso Anfodillo - tommaso.anfodillo@unipd.it Alessandro Peressotti - peressotti@uniud.it

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