Page 182 - 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

content, both types of forestry carbon sink projects have “additionality” requirements
for forest land. Secondly, from a methodological point of view, afforestation and refor-
estation methodologies are adopted for CDM forestry carbon sequestration projects.
CCER projects are divided into four types: carbon sequestration afforestation projects,
forest management carbon sequestration projects, bamboo afforestation carbon seques-
tration projects and bamboo forest management carbon sequestration projects, among
which carbon sequestration afforestation projects mainly draw on and follow the meth-
odologies of CDM projects. Although both types of forestry carbon sequestration proj-
ects require the emission reductions generated to be additional carbon sinks on the basis
of no forest land, the difference is that the CDM project methodology requires no forest
land after 1990, and the CCER project requirements are relaxed to no forest land since
at least February 16, 2005. Finally, in terms of project procedures, the CCER project
has simplified and optimized the CDM project procedures, but the main procedures and
tools such as baseline measurement, carbon measurement and monitoring still refer to
the methodologies of CDM forestry carbon sink projects.
It can be seen that although the CDM forestry carbon sink project is in a standstill
due to the market and its own design, it has a profound impact on the CCER forestry
carbon sink project. It can be said that the CCER forestry carbon sink project is the
result of CDM project optimization and China. Therefore, in the initial stage of the
national carbon market, it is necessary to sort out more than ten years of experience
of CDM forestry carbon sequestration projects and grasp the transition trend of China
from international forestry carbon sequestration trading mechanism to domestic forest-
ry carbon sequestration trading mechanism, in order to better guide the development of
domestic CCER forestry carbon sequestration projects.

3.2 Development Trend of Forestry Carbon Sequestration
Transaction in China under the “Double Carbon” Target

From the perspective of institutional environment, the forestry carbon sequestration
transaction in China has shown a transition from the international market to the domes-
tic market. Based on the practical experience of CDM forestry carbon sequestration
projects, China has gradually explored the domestic forestry carbon sequestration trad-
ing mechanism, and taken forestry carbon sequestration trading as an important path to
increase carbon sequestration capacity and realize the economic value of forest ecosys-

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