Exploring the latest innovations in forest carbon markets

Carbon markets play a crucial role in the complex network of climate solutions; they facilitate the exchange of carbon credit emissions permits and create incentives to reduce greenhouse gas emissions. These markets, whether regulated by governing bodies or projects aiming to reduce emissions, create dynamic environments where environmental responsibility and economic incentives intersect. 

Change through forest carbon markets 

Carbon farming – approach to sustainable land management – employs reforestation, afforestation, forest and peatland restoration, and agroforestry to capture carbon. This practice addresses climate change mitigation and generates carbon credits, known as carbon offsets

These credits represent the CO2 captured and stored in the forest, with the added benefit of being exchangeable within carbon markets. Institutions, organisations, and individuals can buy these credits to offset carbon emissions.  

The social benefit is that communities, farmers, and landowners become integral market players; they can earn income from sustainable land management practices that enhance carbon sequestration. This synergy between incentives and environmental stewardship encourages adopting sustainable practices.

Challenges and opportunities 

White drone flying near a forest
Drones, for example, can be used to collect data for forest monitoring and mapping tree inventory. Photo by Dmytro Titov – stock.adobe.com

As the market for carbon credits increases, some challenges need to be addressed. For example, avoid double counting emissions reductions and removals, and ensure that any reduction in emissions or increase in carbon sequestration occurs because of the sale of carbon credits.

These challenges require innovation and implementation of technologies to improve transparency and effectiveness across the value chain. Besides assisting in developing the carbon market, digital technologies also play a key role in inventory management, monitoring, reporting, and carbon monetisation.

Forestry Speed Dating 

unlocking forest carbon markets title

Bioregions’ Forestry Speed Dating (FSD) series, aiming to bring this relevant topic to the table, has the theme Unlocking forest carbon markets for its third series of the FSD – bringing innovators such as Skoog, Treemetrics, CarbonStack, CO2Offset, Ecobase, Arbonics, Kanop, Xilva, Föra, Zerti Carbon, CollectiveCrunch, Grupo Sylvestris, Land Life and other companies, start-ups and public initiatives to present their innovation and contribution to fight climate change. 

The series provides a platform for individuals and organisations to share knowledge, collaborate and foster sustainable growth in the forestry industry and the bioeconomy. 

Watch previous sessions, register for our fifth event on 1 February 2024, and stay tuned for new events to attend

References 

What are carbon markets and why are they important? 

International carbon market 

What You Should Know About Carbon Markets 

Carbon farming explained: the pros, the cons and the EU’s plans 

Carbon markets: the challenges and opportunities

Featured image by okawa – stock.adobe.com

Unlocking forest carbon markets – Event 4 of the FSD 3rd Series

FSD: Unlocking forest carbon markets – Event 4

The fourth event of this series will spotlight the winners of the Bioregions’ Open Innovation Challenge from December 2022.

Three innovative organisations were granted EUR 7,000 each to advance their projects. At this event, you will meet two of them: Föra Forest Technologies with their AI-powered förecast tool that gauges forest carbon stock through conventional and LiDAR techniques, and Zerti Carbon’s app, which provides landowners with in-depth insights into tree growth and carbon sequestration, harnessing state-of-the-art technologies to facilitate carbon offset acquisitions for both individuals and corporations.

Föra: AI and remote-sensing tool that gauges forest carbon stock and vegetation disturbances with multiple modules

Föra Forest Technologies’ tool (förecast) is a forest intelligence tool that estimates the carbon stock available in the forest and measures other forest variables using remote sensing and artificial intelligence developed by föra. Förecast leverages artificial intelligence and remote sensing to assess carbon stock in forests and offers transparent monitoring of vegetation disturbances. The tool comprises four modules: traditional inventory, LiDAR inventory, satellite and LiDAR integration, and forest simulations. Föra is one of the winners of the Bioregions Open Innovation Challenge launched in 2022 and won second place at the 2020 ESA Digital Twin Earth Challenge.

Speaker: Iñigo Lizarralde, CEO, Föra. Learn more

Zerti Carbon: Cutting-edge technology for climate-smart forestry, allowing users to offset emissions

Zerti Carbon is a company that offers certified carbon sink solutions using blockchain technology, is dedicated to advancing climate-smart forestry solutions, and connects forest owners with companies interested in neutralising carbon emissions. The Zerti Carbon app provides detailed data to landowners about tree growth and carbon capture, ensuring transparent traceability. By digitising forests and using advanced technologies such as drone scanning, Lidar, machine learning, augmented reality, and AI to analyse the forest’s carbon sinks, the app provides a system where individuals and companies can offset their carbon emissions by purchasing carbon credits. Zerti Carbon is one of the winners of the Bioregions Open Innovation Challenge launched in 2022.

Speaker: Panu Torniainen, co-founder and managing director, Zerti Carbon. Learn more

Learn more and register here.