Regional Forest Offsets Under RGGI
Forests are among the most effective and least expensive weapons we have to combat global warming, and they provide additional ecological and economic benefits as well. ENE is working to ensure that protection and enhancement of forest carbon is a priority in U.S. and Canadian climate change policy. ENE has taken a lead role in recommending new forest offset categories for the 10-state Regional Greenhouse Gas Initiative (RGGI) in order to help achieve that goal. If RGGI adds these forest offset categories to the regional cap and trade program, it will help landowners across the region manage their forests for carbon retention, and set a valuable precedent for rigorous offsets standards as similar programs are crafted at the federal level. Strong offsets standards are essential in order for real greenhouse gas benefits to occur.
Background
The overwhelming proportion of forested land in northern New England and Eastern Canada is harvested for the forest products industry, and this is a key part of the economy for some areas, such as Maine. ENE is focusing on how forest management strategies can increase terrestrial carbon sequestration to advance state and regional climate change action plans while conserving and expanding forests' environmental and economic benefits. In partnership with the Maine Forest Service (MFS) and the US Forest Service (USFS), ENE conducted a study in Maine to explore the biological potential of the northern hardwood forests to sequester carbon through a variety of forest management and silvicultural practices, and to determine the potential for carbon markets to provide enhanced and diversified revenue streams to Maine landowners.ENE's efforts to develop and refine policies that would increase forest carbon sequestration are tied to the development of emerging carbon markets such as RGGI. As part of an effort to help design an effective trading program, ENE is working on developing the criteria for carbon offset projects as part of RGGI and other private and public carbon markets. ENE's research and policy development related to forest sequestration is being transferred to other states and regions through a national network of groups working on policies to reduce greenhouse gas emissions in their regions, including Ohio, the Dakotas, Iowa, Minnesota, Montana, Wyoming, Wisconsin, North Carolina, Georgia, Tennessee and Florida.
