Oral Abstract Details

Author(s):
Neelam C. Poudyal, Jacek P. Siry, J. M. Bowker

Affiliation:
Warnell School of Forestry, University of Georgia: USDA Forest Service, Southern Research Station

Presentation Type:
Oral

Topic Area:
Urban forestry and urban agriculture

Abstract Text:
As rapid urbanization continues, so too are urban forests in the U.S. Urban areas currently maintain an average tree cover of 27%, and comprise millions of trees along streets and in parks, riparian buffers, and other public as well as private areas. Studies suggest that there are 4 billion urban trees and another 70 billion in metropolitan areas nationwide. As urban forest area continues to grow, trading carbon sequestered in urban trees could offer economic opportunities for local governments. Similarly, the acquisition of urban forest carbon credits from local cities can be socially, politically, and environmentally advantageous investments for businesses that seek to address their own emissions. As little is currently known about how potential buyers and sellers could engage in trading urban forest carbon credits, this study attempts to fill the gap by surveying prospective buyers and sellers of carbon credits. Findings indicate that local governments have interest, and technical as well as managerial capacities to sell carbon credits. However, they lack essential information regarding market participation. On the other hand, prospective buyers value carbon credits from urban forestry as more desirable than credits generated from most other sources. This presentation will discuss perspectives of both the buyers and the sellers in the context of developing a mechanism for urban forest carbon trading in the U.S.