Carbon trading related to Clean Development Mechanism (CDM) is a cooperative mechanism conceptualized and established under the Kyoto Protocol. Along with some voluntary mechanisms, it has the potential to assist developing countries in achieving sustainable development by promoting environment friendly investment from industrialized country governments and businesses. In particular, CDM is a project-based mechanism that allows public or private entities from countries with emission reduction targets (Annex I countries) to invest in greenhouse gas (GHG) emission reduction projects in developing countries, to earn carbon credits, known as certified emission reduction (CER) units. These credits can be used against domestic emission reduction targets assigned to Annex I countries or can be sold to other interested parties on a voluntary basis.
Of the various kinds of projects allowed under the regulatory and voluntary mechanisms, afforestation and reforestation projects are of interest. A great deal of work has been done to identify opportunities for afforestation and reforestation carbon sink, particularly in the rehabilitation of degraded tropical forest lands. India can host numerous such projects as it is a Non-Annex I country and thus has ample opportunities to reduce emissions.
A private sector consultancy firm active in carbon markets estimates somewhat more conservatively that the worldwide supply of CERs could average between 150 and 250 million tonnes per year over the first Kyoto commitment period (2008�12), which could cover up to half of the predicted global emission reduction shortfall against Kyoto targets (Sharma 2010).
According to the Intergovernmental Panel on Climate Change report on Land-use, Land-use Change and Forestry (LULUCF), there is the potential for the forestry sector to absorb 12%�15% of global emissions originating from fossil fuels.
This book is meant for persons and institutions who work for forestry and tree-farming activities and foresters (both government and non- government) with an interest in forest carbon projects. It aims to facilitate setting up forest carbon projects and let the whole society benefit. This book is structured covering major aspects: including the background of climate change and forestry, introduction to the carbon market; forest carbon project development and the timeline; economics of the projects; sources of different funds and grants and other financial aspects are the major topics.
This book is expected to be very useful to the reader given the very fast changing economic-political framework resulting in changes in legislations, as well as actors, funds and regulations. The lucid explanations and coverage of different topics associated with forest carbon projects would certainly help all the readers in general.
This book arises from the long professional and practical experience gained by an interdisciplinary team of technical experts working in the Indian Institute of Forest Management Bhopal, having both academic and field experience of national and international level.
1. Implications of Climate Change
2. Global Efforts and Mechanisms to Cope with Climate Change
3. Forestry and Climate Change
4. Voluntary Mechanisms for Forestry Carbon Projects
5. Formulation of Forestry Carbon Projects for Formulation of Forestry Carbon Projects for CDM or Voluntary Markets
6. Economics of Forestry Carbon Projects
7. Financial Aspects of Forestry Carbon Projects
8. Marketing Aspects of Forestry Carbon Projects
9. Livelihood Issues in Forestry Carbon Projects
10. Policy and Legal Aspects of Forestry Carbon Projects
11. Forestry Carbon Projects and Biodiversity Conservation
12. Adapting to Climate Change: Role of Forests and the Forestry Sector
13. Future Opportunities for Indian Forestry Sector: The Post-2012 Scenario