Page 160 - Research on Financial Development Mechanism and Path of Forestry Carbon Sequestration in Developing Countries under Double Carbon Targets

Research on Financial Development Mechanism and Path of Forestry Carbon
Sequestration in Developing Countries under Double Carbon Targets

in 2050. The second is to use afforestation to help achieve the goal of planting 3 billion
trees under the guidance of the forest strategy in the next 10 years. The third is to explore
the development mode of carbon-rich agriculture, understand the policies and measures
adopted by the governments of EU member states to improve the carbon sink of soil or
vegetation, and ensure the permanent absorption of carbon. It is not easy to achieve the
goal through the above ways. In order for the EU to include agriculture and forestry in
the carbon emission trading system, comprehensive adjustments should also be made
in the areas of carbon sequestration accounting standards, carbon sequestration change
monitoring methods, incentives to increase “sinks” in agriculture and forestry, and de-
velopment and supervision of carbon sequestration market certification mechanism.
Accurate accounting of carbon sources and sinks and submission of information
and data are important. All along, the EU has followed the accounting standards and
guidelines formulated by the United Nations Intergovernmental Panel on Climate
Change (IPCC) and monitored and reported on carbon sinks in LULUCF since the first
commitment period of the Kyoto Protocol in 2008. This accounting standard has been
significantly improved over the past 12 years. This will help to further improve the
carbon accounting system in the future. The EU regards 1990 as the base year to fulfill
its climate commitment. Although the accounting results of forest carbon sinks in Eu-
rope in 1990 cannot be guaranteed to be absolutely accurate, with the passage of time,
the measurement accuracy has become higher and higher, which can be used to judge
whether the change trend of carbon sinks is positive. Mecger said that currently only
part of the EU’s carbon sinks have been accounted for, which is also the reason why it
is difficult for decision-makers to formulate incentives accurately.
In order to further more accurately account for forest carbon sinks, the EU will
make efforts in two areas: improving the monitoring capability of forest resources and
strengthening the carbon storage capability of wood products and carbon footprint
calculation. First, consider using Copernicus earth observation satellite data and com-
bining forest inventory results to monitor forests. European Union countries carry out
forest inventory every 5 ~ 10 years, and the use of satellite remote sensing technology
can improve the monitoring effect. However, due to the constraints of the wide moni-
toring area, complex land use types and high cost, higher requirements are put forward
for the carrying capacity of satellite remote sensing proxy server. In addition, the Euro-
pean Commission will organize a detailed estimation of carbon sequestration of forest
products such as wood products. Current measurement methods often measure the
carbon sequestration of wood products with a fixed reference value, but if the refined

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