Forest carbon markets are rapidly evolving as the importance of forests in tackling climate change is increasingly recognized and rewarded. Almost 25% of global carbon dioxide emissions are now covered by pricing mechanisms and forestry is one of the most popular sources of carbon credits. This study looks at the role of forests in climate change, the growth in carbon pricing mechanisms, and the market for forest carbon. It also considers the potential impact on wood supply, with three important case studies; the US, EU and New Zealand.
Questions the report helps answer
- How can forests help address climate change, in different world regions?
- How are regulators pricing carbon?
- What does the forest carbon market look like (size, growth, segments, players)?
- Where are credits generated and bought?
- How do forest owners earn carbon credits?
- How is demand for forest carbon credits impacting forest management?
- How can that impact future wood supply?
- What learnings can be made from forest carbon markets in the US, EU, NZ?
- What challenges does the forest carbon industry face, how can they be resolved?
Who the report is most relevant for
- Forest owners in North America, Europe and Oceania
- Timberland investors
- Wood buyers (saw-, pulp-, panel- and pellet mills)
- Carbon credit buyers and traders
- Forest carbon project developers
- Governments and NGOs
- Analysts, consultants, financial institutions and industry associations
- Suppliers to forest industries, e.g. logging equipment
Table of Contents
1. Forests’ role in climate change
- Role of removals in achieving net emission targets
- Global forest carbon emissions and sequestration
- Attractiveness of forestry as a climate change lever
2. Carbon pricing mechanisms
- Growth in carbon taxes and cap-and-trade schemes
- Demand, supply and pricing of carbon credits
- Role of forestry in carbon credit markets
3. Forest carbon markets
- Types of projects and criteria
- Supply of credits: government and independent
- Outlets for credits: compliance and voluntary
- Demand and supply growth by type and region
- Market participants in supply chain
4. Implications for wood supply
- Impact of REDD on tropical timber supply
- Impact of afforestation / reforestation on new forest establishment and future wood supply
- Impact Improved Forest Management on forest growth enhancement and deferred harvest
- Expected net impact on timber supply by region
5. Regional case studies
- New Zealand: an established compliance market
- United States: an evolving independent market
- European Union: a huge latent compliance market
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