The Georgia Carbon Sequestration Registry

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The Georgia Carbon Sequestration Registry

• Nathan McClure, Josh Love
• Georgia Forestry Commission
• D. Markewitz, J. Siry, P. Bettinger, B. Borders,
  C. Cieszewski, M. Clutter, B.
  Izlar, R. Teskey
• Warnell School of Forestry and Natural Resources,
  UGA

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Presentation Outline

• Background and Context
• C Registry
• Framework
• Project Types
• Eligibility
• How to register
• Carbon Estimation Protocol (UGA)

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Fossil Fuels are a Primary CO2 Source
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Carbon Sequestration

• Stabilize and reduce atmospheric concentrations
  of CO2
• Elements
• Carbon Capture (photosynthesis)
• Carbon Storage (biomass, SOC)

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Carbon Sequestration Overview
Fossil fuel emissions create additional CO2
Forests grow
Forests decay
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Forests Can Offset CO2 Emissions
Carbon Sequestration
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The Emerging Carbon Market

• U.S. Context No federal cap policyBUT
• States are forming their own policies
• Industries are making voluntary commitments
• The demand for CO2 mitigation tools is growing

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Georgia Has Recognized This Opportunity

• Senate Bill 356 (2004)
• The Georgia Carbon Sequestration Registry Act
• Georgia Forestry Commission is responsible for
  developing and administering the Registry

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Registry Function

• Voluntary program
• Mechanism for tracking and recording carbon
  sequestration projects in GA.
• Annual reporting of carbon stocks
• Demonstrate sequestration

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Registry Objectives

• Promote methods of offsetting GHG emissions
• Provide voluntary means of certifying and
  recording carbon sequestration in a transparent
  manner
• Ensure that Ga. forest landowners receive
  consideration in carbon markets
• Recognize those that undertake carbon
  sequestration practices

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General Eligibility Standards

• Land in Georgia
• Ownership Carbon Rights
• Native species
• Sustainable management
• Restricted or Unrestricted

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Defining a Project

• Forestry and agricultural practices that trap and
  store atmospheric CO2
• Applied to particular parcel(s) of land
• Specified time period

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Project Types

• Afforestation
• Forest Management
• Agriculture
• Others?

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Afforestation Example

• Tree planting on non-forest land
• 1990 or later
• Dedicate land to forest uses
• CRP is eligible

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Project Types

• Afforestation
• Forest Management
• Agriculture
• Others?

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Forest Management Examples

• Timber Stand Improvement
• Forest Enrichment
• Lengthen rotations
• Management that minimizes fire/disease/pest risks
• Other management that increases carbon storage
  beyond current practices

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Project Types

• Afforestation
• Forest Management
• Agriculture
• Others?

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Agriculture Example
Strip-till
No-till

• Conventional tillage

Grass/pasture establishment
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Project Types

• Afforestation
• Forest Management
• Agriculture
• Others?

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Other Sequestration Activities

• Agroforestry
• Urban Forestry

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Registration Process

• Develop a project and complete an application
• Submit application online or to county Clerk of
  Courts office
• GFC reviews application for completeness
• Annual updates and GFC monitoring

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Market Demand
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Market Demand

• What do potential purchasers want in an offset?
• Transparency
• Additionality
• Permanence
• Permanence issues
• Land-use changes
• Fires, pests, disease, weather
• How long will the carbon be stored?

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Current Market Prices

• U.S.A (CCX) 4 per metric ton CO2
• Europe 10 - 20 per metric ton CO2

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The Market is Coming

• GA is leading the way in the SE
• One of first programs of its kind in U.S.
• Preparation/experience for the future

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Implementation of Cap-and-Trade

• Regulator sets cap on total emissions for a group
  of sources
• Cap is divided into allowances (e.g. 1 ton CO2)
• Allowances are distributed
• Emitters measure emissions
• Emitters surrender allowances

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10 tons
10 tons
10 tons
Cap 5 tons
7 tons
5 tons
3 tons
100/ton
80/ton
120/ton
Transfer of 2 tons for 80 - 120 per ton
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Market Success SO2
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Current U.S. Market for CO2

• Pilot market
• Voluntary
• gt200 participants
• Only market in U.S.

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Thank You