CDM Forestry and the Ultimate Objective of the Climate Convention

In its Article 2, the U.N. Framework Convention on Climate Change policymakers gave themselves a long-term dynamic mandate under uncertainty. Taking the example of forestry activities in developing countries, the present article discusses whether land-based climate change mitigation measures in the context of compensation mechanisms for human-induced greenhouse gas emissions are covered under the UNFCCC's ultimate objective. Both the problem of climate change and human intervention act over long, yet finite timeframes. The article argues for taking a dynamic 100-year timeframe as reference for present-day activities. It concludes that increasing biotic carbon storage is legitimate for measures that contribute to biodiversity conservation, as long as it does not serve as a pretext for neglecting technological change. Among all forestry options, the list of priorities should be avoiding deforestation and devegetation, sustainable forest management, and afforestation. The problem of saturation can be encountered by the combination of forestry with the increased use of wood products and bioenergy. Concluding, the article gathers criteria for forest climate activities in the post-2012 regime. JEL Classification: Q23, Q54; Q57; Q58