Late Start Works against Forestry Projects

While CDM projects could accumulate credits from year 2000, basic rules governing forestry were not resolved until the end of 2003, which makes the implementation of projects before the end of 2005 unlikely given the long lead times for project development and registration. Even by the end of the first reporting period in 2012, that is, six years after planting in the beginning of 2006, only a fraction of the potential removal of CO2e by a forest will have been achieved (see Figure 2.3). The modest level of

Note: The sequestration profile of a plantation in tropical north Queensland, Australia shows that in the very early years CO2 removal is slow, and the average over the 6 years 2006 to 2012 is 14 tonnes per hectare. Thus only a small amount of a forest's potential to remove CO2 is manifest by the end of the first commitment period in 2012. The profile is developed using the Carbon Toolbox of the Australian Government (2007).

Note: The sequestration profile of a plantation in tropical north Queensland, Australia shows that in the very early years CO2 removal is slow, and the average over the 6 years 2006 to 2012 is 14 tonnes per hectare. Thus only a small amount of a forest's potential to remove CO2 is manifest by the end of the first commitment period in 2012. The profile is developed using the Carbon Toolbox of the Australian Government (2007).

Figure 2.3 Removal of tonnes of atmospheric CO2 per hectare by tropical forest plantation established in year 2006

credits generated after only six years means that the cost per tonne of CO2e removed is likely to be high (given the transaction costs involved) compared with mitigation projects. A further deterrent to the establishment of A/R projects under the CDM is that credits are not bankable and there is no guarantee that credits generated post-2012 will be saleable post-2012.

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