Forests in the Fight Against Global Warming
Advances in Ecological Economics series
1. Nordhaus is conservative in using a 4 percent discount rate in calculating damages and suggests a tax of US$9.30 per tonne of CO2e in 2010 (Nordhaus, 2007: 62). Nordhaus criticizes the strategies for tackling climate change proposed by Stern (2006) and Gore (2007), calculating that they will require taxes in the order of US$150 to US$250 per unit of emission, a level of taxation that would, he suggests, incur large economic costs (Nordhaus, 2007: 63). 2. Kyoto units, all equal to one tonne of CO2e, include assigned amount units (AAUs) allowances issued by Annex I countries against their national registries; removal units (RMUs) derived from removals by sinks, including forestry; emission reduction units (ERUs) issued under Joint Implementation project activities and converted from AAUs or RMUs and certified emission reduction units (CERs) sequestered or abated under the Clean Development Mechanism (CDM) (UNEP Risoe, 2008). 3. To maintain consistency throughout the book definitions used to describe plantation forestry are those that were adopted by the UNFCCC at a meeting of the parties to the Protocol (UNFCCC, 2006a: 5), defining the allowable activities in the first commitment period (2008–2012) as follows: ● ● Afforestation (A): The direct human-induced conversion of land that has not been forested for a period of at least 50 years to forested land through planting, seeding and/or the human-induced promotion of natural seed sources. Reforestation (R): The direct human-induced conversion of non-forested land to forested land through planting, seeding and/or the humaninduced promotion of natural...
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