Page 191 - Research on Financial Development Mechanism and Path of Forestry Carbon Sequestration in Developing Countries under Double Carbon Targets

Chapter IV Forestry Carbon Sequestration Financial Practice

and “Property Rights Transfer Act”, which clearly specify the ownership of forestry
carbon sequestration property rights in the form of legal provisions; The “Carbon Cred-
it (Low-carbon Agriculture Initiative) Act 2011”, “Clean Energy Act” and “Agricultural
Carbon Reduction Action Act” were introduced to protect forestry carbon sinks from
participating in carbon trading alone. The EU released the “2030 Climate Target Plan”
in 2020, which plans to plant 3 billion trees in 10 years. At the same time, the EU is ac-
tively preparing for the establishment of a carbon dioxide certification system, and will
incorporate forestry carbon sequestration projects into the mandatory carbon trading
market in Europe. South Korea has issued the “Forest Carbon Offset System” and the
“Management and Improvement of Carbon Sink Absorption Law”, and has formulated
specific programs such as afforestation and reforestation, sustainable forest manage-
ment, forest biomass energy utilization, vegetation restoration, and avoidance of defor-
estation and forest degradation.

4.2 the establishment of a multi-level forestry carbon sink
standard system

At present, there are mainly four types of forestry carbon sequestration standards in
the world: First, the methodologies published by the Intergovernmental Panel on Cli-
mate Change (IPCC), including the 2006 National Greenhouse Gas Inventories Guide,
the 2000 Good Practice Guide and Uncertainty Management, the Good Practice Guide
for Land Use, Land-use Change and Forestry, and the Special Report on Land Use,
Land-use Change and Forestry. The second is the CDM carbon sink project standards
based on the rules of the Kyoto Protocol, including baseline and monitoring method-
ologies and applicable tools relating to CDM afforestation and reforestation projects
approved by the CDM Executive Board. Third, some non-governmental organizations
and departments have formulated some standard systems based on the standards of the
voluntary carbon market, including the Climate, Community and Biodiversity Stan-
dards (CCBS), the Certified Carbon Standard (VCS) for agriculture, forestry and other
land use projects, the Carbon Fix Standard (CFS) and the Plan Vivo System. The fourth
is the forestry carbon sink and carbon trading standards formulated by some countries
based on their own carbon reduction policies. For example, Australia and New Zealand
have established carbon management systems applicable to their own countries, which
include forestry carbon sink projects and carbon sink transactions.

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