Carbon sequestration in wood products: a method for attribution to multiple parties

When forest is harvested some of the forest carbon ends up in wood products. If the forest is managed so that the standing stock of the forest remains constant over time, and the stock of wood products is increasing, then carbon dioxide is being removed from the atmosphere in net and this should be reflected in accounting for greenhouse gas emissions. We suggest that carbon sequestration in wood products requires cooperation of multiple parties; from the forest owner to the product manufacturer to the product user, and perhaps others. Credit for sequestering carbon away from the atmosphere could acknowledge the contributions of these multiple parties. Accounting under a cap-and-trade or tax system is not necessarily an inventory system, it is a system designed to motivate and/or reward an environmental objective. We describe a system of attribution whereby credits for carbon sequestration would be shared among multiple, contributing parties. It is hoped that the methodology outlined herein proves attractive enough to parties concerned to spur them to address the details of such a system. The system of incentives one would choose for limiting or controlling greenhouse gas emissions could be quite different, depending on how the attribution for emissions and sequestration is chosen.