The day soils will be officially recognised as a valid source of tradable Carbon is coming closer. On 19 November, 2007 a Guide Book for a Voluntary Carbon Standard (VCS) for Agriculture, Forestry and Other Land Use Projects (AFOLU) was released. The final standard will be released in 2008 to assist the trade in carbon in the voluntary market. (The non-mandatory market - where individuals and corporations seek to buy offsets - not because they have to meet a target - simply to do something positive about Climate Change (or be seen to be doing something).
The following four categories of AFOLU project activities will be covered under the VCS:
• Afforestation, Reforestation and Revegetation (ARR)
• Agricultural Land Management (ALM)
• Improved Forest Management (IFM)
• Reducing Emissions from Deforestation (RED)
In the future, new AFOLU project categories will be added (e.g., avoided devegetation) as best-practices become defined...
Despite their clear potential, AFOLU projects can be quite challenging to design, implement and monitor. Fortunately, defined solutions for dealing with permanence, additionality, leakage, measurement, and monitoring have emerged in the last few years. The VCS reflects these latest solutions and provides best-practice guidance.
The VCS is being put together by a coalition of organisations - including the World Business Council For Sustainable Development and the World Economic Forum, which developed the global standards for calculating carbon footprints. Australia's representative on the team of reviewers is Martijn Wilder from law firm Baker & McKenzie. Martijn is a friend of the Carbon Coalition and has given us advice without charge.
Under the heading "Eligible Activities"are (A) improved cropland management; (B) improved grassland management and, (C)
cropland and grassland land-use conversions.
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