Journal
MITIGATION AND ADAPTATION STRATEGIES FOR GLOBAL CHANGE
Volume 17, Issue 1, Pages 17-24Publisher
SPRINGER
DOI: 10.1007/s11027-011-9306-x
Keywords
Carbon offsets; Climate policy; Forestry; Natural disturbance; Risk
Categories
Funding
- NSF [0960865]
- Direct For Social, Behav & Economic Scie
- Divn Of Social and Economic Sciences [0960865] Funding Source: National Science Foundation
Ask authors/readers for more resources
Although forest carbon offsets can play an important role in the implementation of comprehensive climate policy, they also face an inherent risk of reversal. If such risks are positively correlated across projects, it can affect the integrity of larger project portfolios and potentially the entire offsets program. Here, we discuss three types of risks that could affect forest offsets-fat tails, micro-correlation, and tail dependence-and provide examples of how they could present themselves in a forest offset context. Given these potential dependencies, we suggest several new risk management approaches that take into account dependencies in reversal risk across projects and which could help guard the climate integrity of an offsets program. We also argue that data collection be included as an integral part of any offsets program so that disturbance-related dependencies may be identified and managed as early and to the greatest extent possible.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available