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Woodland Carbon Code Requirements for Voluntary Carbon Sequestration Schemes Woodland Carbon Code

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Woodland Carbon Code Requirements for Voluntary Carbon Sequestration Schemes Woodland Carbon Code Woodland Carbon Code Requirements for voluntary carbon sequestration schemes Woodland Carbon Code The Woodland Carbon Code is a voluntary code designed to encourage a consistent approach to Woodland Creation Projects involving carbon statements & claims. forestry.gov.uk/carboncode Outline • Rationale & Objectives • How it works • Certification • Progress • What next ? forestry.gov.uk/carboncode Rationale • Woodland creation is an attractive & cost-effective means of climate change mitigation • Increasing interest in using woodlands to capture carbon • Previously no clear standards, consistency or clarity in UK carbon projects • Investors are cautious and seek quality assurance forestry.gov.uk/carboncode Objectives Offer clarity Encourage a and consistent transparency to Provide rigorous approach to customers carbon measurement woodland carbon projects protocols Construct a Reassure the framework that market and may support a compliance market investors about for woodland voluntary carbon credits in woodland carbon the future projects forestry.gov.uk/carboncode How it works 1 The Code enables voluntary woodland carbon projects to demonstrate best practice and to create/sell/report verified Woodland Carbon Units Under the Kyoto Protocol, the UK govt doesn’t currently allow compliance market ‘offsets’ to be generated by UK based projects e.g. for use under the EU ETS or CRC. New UK GHG reporting guidelines now allow companies to report voluntary woodland carbon units but only from WCC certified projects forestry.gov.uk/carboncode How it works 2 The Code itself Registry Project Design Document Carbon Measurement Tools • Predicted (future) carbon • Actual (captured) carbon Other Guidance • Eligibility • Additionality • Permanence Certification www.forestry.gov.uk/carboncode Carbon Reporting forestry.gov.uk/carboncode Certification • Two certification bodies SFQC & SGS Ltd are approved to assess projects and are just completing their accreditation by UKAS • Projects are validated at outset • Projects are then re-verified at 5-yearly intervals • Each project has a unique ID and its current status appears in the Registry. forestry.gov.uk/carboncode Project Registration forestry.gov.uk/carboncode Voluntary Carbon Market 131.2 MtCO2e transacted in 2010 in the global voluntary carbon markets. Volumes grew by 34% compared to 2009 & exceeded historic levels. Substantial growth forecast for 2011 to reach 213 MtCO2e. By 2015, suppliers’ predict a market size of 406 MtCO2e. forestry.gov.uk/carboncode Progress 1 Detailed best practice requirements & guidance developed Pilot programme completed Code launched in July 2011 forestry.gov.uk/carboncode Progress 2 Applications from projects for certification under the Code are growing steadily since its launch in July 27 projects now registered - 14 in Scotland. These projects will create 1,728ha of new woodland and capture the equivalent of 636,000t of CO2. forestry.gov.uk/carboncode Progress 3 • New national woodland carbon standards • Information & guidance on woodland carbon • Independent project certification scheme • Additional funding stream for woodland creation forestry.gov.uk/carboncode What Next? • Clarify key guidance – eg. soils • Develop a group certification scheme • Establish a Woodland Carbon Unit registry • Consider use of Code for existing forests and use of wood products. • Review implications of post-Kyoto agreements for use of Code in compliance markets • Explore ways of linking land owners & woodland managers with potential investors forestry.gov.uk/carboncode E: [email protected] W: www.forestry.gov.uk/carboncode forestry.gov.uk/carboncode Woodland Carbon Code Requirements for voluntary carbon sequestration schemes .
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