Avoiding over-crediting of forestry carbon offsets under the new global carbon market

Abstract

COP29 stepped forward in operationalizing the critical Paris Agreement Article 6 mechanism, which poses new opportunities for forest-based carbon crediting projects. However, these projects, especially those with forest conservation activities, once deemed promising nature-based solutions to climate change, have been facing unique over-crediting challenges, which raised significant concerns in the public and academia. This paper provides recommendations for adopting a dynamic matched baseline accounting approach to enhance integrity and rebuild trust in the industry and the upcoming new global carbon market.

Keywords

Climate change / Forest carbon / REDD+ / Dynamic baseline / Paris Agreement Article 6 / Additionality

References

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Northeast Forestry University