Includes bibliographical references and index.

The making of markets for carbon and the potential of forestry offsets -- Forestry in the Kyoto Protocol -- Forestry in voluntary carbon markets -- Biodiversity benefits of reforestation and avoiding deforestation -- Measuring the carbon in forest sinks -- Forests as a source of biofuels -- Forestry in the climate change policies of selected developed countries -- Policies for reducing emissions from deforestation and forest degradation (REDD).

"Reforestation and avoiding deforestation are methods of harnessing nature to tackle global warming - the greatest challenge facing humankind. In this book, Colin Hunt deals comprehensively with the present and future role of forests in climate change policy and practice. The author provides signposts for the way ahead in climate change policy and offers practical examples of forestry's role in climate change mitigation in both developed and tropical developing countries. Chapters on measuring carbon in plantations, their biodiversity benefits and potential for biofuel production complement the analysis. He also discusses the potential for forestry in climate change policy in the United States and other countries where policies to limit greenhouse gas emissions have been foreshadowed. The author employs scientific and socio-economic analysis and lays bare the complexity of forestry markets. A review of the workings of carbon markets, based both on the Kyoto Protocol and voluntary participation, provides a foundation from which to explore forestry's role. Emphasis is placed on acknowledging how forests' idiosyncrasies affect the design of markets for sequestered carbon. The realization of forestry's potential in developed countries depends on the depth of cuts in greenhouse gas emissions, together with in-country rules on forestry. An increase in funding for carbon retention in tropical forests is an immediate imperative, but complexities dictate that the sources of finance will likely be dedicated funds rather than carbon markets."--Back cover.