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Carbo Mark Project, London 13 October 2009
The Carbo Mark project Making forest carbon offsets financially viable at local level
Silvia Stefanelli - Autonomous Region Friuli Venezia Giulia (Italy)
VOLUNTARY CARBON MARKETSLondon 12-13 October 2009
Carbo Mark Project, London 13 October 2009
• 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
Carbo Mark Project, London 13 October 2009
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
Carbo Mark Project, London 13 October 2009
• 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
Carbo Mark Project, London 13 October 2009
Demand for carbon offsets
generated locally
SUSTAINABLYMANAGED FORESTS
WOOD PRODUCTS
URBAN FORESTRY
Which forest activities?
Carbo Mark Project, London 13 October 2009
Sustainably Managed Forestry methodology
Additionalitytest
Baseline Permanence
Existing mandatory forest plans
Annual growth knownCertification (PEFC)
Forest Reserve PoolDisturbances index linked
+Binding agreements with forest owners
Additional carbon uptake
No Double Counting
Certification(University)
Credits releaseExternal registry
Credits retirementBinding contractwith credit sellers
Carbo Mark Project, London 13 October 2009
- 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
(m3 ha yr) = 85% CI (1- e -d) – Y
M3/ha t/C/ha/yr t/CO2 eq/ha
• Carbon saving forest management
• Wood harvest lower than increment - Difference is set aside for carbon credits
Forest carbon creditst/CO2 eq
SMF - What generates the carbon credit?
Net annual growth in carbon stock
Carbo Mark Project, London 13 October 2009
Challenges & risks
• 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
Carbo Mark Project, London 13 October 2009
Thank you for the attention
Questions…?
CarboMark Project Technical secretariat:
• Maurizio Dissegna (lead partner) - [email protected]
• Silvia Stefanelli - [email protected]
Scientific secretariat:
• Tommaso Anfodillo - [email protected]
• Alessandro Peressotti - [email protected]
