A Carbon Right of Timber Wood Free Essay Example, 2750 words

A carbon right is a new and unique form of land interest that bestows upon the holder a right to the benefit of carbon sequestration on a piece of forested land. Carbon sequestration refers to the absorption from the atmosphere of carbon dioxide by vegetation and soils and the storage of carbon in vegetation and soils. The introduction of uniform forestry carbon rights legislation would promote a seamless economic framework for carbon trading and a more consistent and structured approach to proprietary verification. Carbon rights should continue to be articulated as property interests that exist separately from the ownership of the underlying land to which they attach. Carbon emissions are generally an abbreviation of emissions of greenhouse gases. Greenhouse gases are a number of different gases that all have the ability to influence the global energy balance of the Earth, the greenhouse effect. These greenhouse gases are namely, carbon dioxide, methane, nitrous oxide, perfluorocar bons, hydrofluorocarbons, and sulfur hexafluoride. Carbon trading schemes aim to reduce overall emissions produced by nations and organizations. One way of doing this is through a cap and trade scheme, such as the Carbon Pollution Reduction Scheme (CPRS) proposed by the Australian Government. We will write a custom essay sample on A Carbon Right of Timber Wood or any topic specifically for you Only $17.96 $11.86/page The potential buyers are industrial companies that, in order to meet their environmental obligations under the Kyoto Protocol - or other international regimes to control greenhouse gases.