How are credits likely to be allocated? Are they devolved from the government to the individual forest farmer?
Carbon sequestration is a process that generates greenhouse credits (if, for example, they comply with Article 3.3 of the Kyoto Protocol). These credits are additional to the greenhouse permits that nations were allocated at Kyoto (as articulated in Annex B of the Protocol). In relation to the allocation of sequestration rights, as opposed to emission permits or other types of “credits” in the Kyoto Protocol, at this stage it is contemplated that the owner of trees grown in compliance with the Kyoto Protocol could generate certificates warranting that they will be able to show, at a nominated date, that they have one tonne of carbon being sequestered in trees over which they have the rights. A series of rules and regulations will govern the generation of this certificate. The notion of rights dispersed by a government should be separated by the rights evidenced by the certificate. No indication has yet been given that the Kyoto Protocol will actually be ratified by the requisite number
