Leakage from forest carbon sequestrationthe amount of a program’s direct carbon benefits undermined by carbon releases elsewheredepends critically on demanders’ ability to substitute non-reserved timber for timber targeted by the program. Analytic, econometric, and sector-level optimization...

Offsets lower the cost of cap-and-trade programs but must be considered imperfect if they cannot exclude “non-additional” emissions reductions or sequestration gains that would have occurred in their absence. Non-additionality can be addressed by requiring project-level additionality tests,...

Terrestrial (biological) carbon sequestration is the process by which carbon dioxide (CO2) is removed from the atmosphere through photosynthesis and stored in terrestrial stocks of biomass or soil organic carbon. A ton of carbon (or CO2 equivalent) sequestered in terrestrial systems can be used...