A review of the relationship between China's key forestry ecology projects and carbon market under carbon neutrality
Abstract
The contribution of forestry to achieving carbon neutrality lies in offsetting carbon emissions by implementing certified emission reduction through afforestation projects. However, measurable carbon sinks from China's national key forestry ecology projects have not been able to offset carbon emissions and contribute to achieving carbon neutrality. To promote successful trading of forest carbon sinks in carbon market, we conducted a review to highlight difficulties in project cycle and indicators in measuring climate effectiveness. The results of the current review showed that forestry has the advantage of achieving higher emission reduction targets at a low cost. The initial goals of increasing carbon sinks and reducing greenhouse gas emissions are prerequisites for forestry projects to enter the carbon market. The offset ratio is significant for ensuring the additionality of forest carbon sinks and reducing the risk of crowding out. It should be noted the carbon trading mechanism plays a positive role in mobilizing private sector to reduce emissions, but it may ignore forestry protection in remote areas that have high emission reduction costs and are far from market.