Carbon markets in the U.S
The United States is not a signatory of the Kyoto Protocol
(UNFCCC, 2007) and the U.S. does not have a comprehensive national
policy mandating limits in CO2 emissions. Instead. the U.S. has voluntary,
or state and region-based programs to reduce greenhouse gas
emissions.
Since about 20% of human-induced carbon dioxide emissions
are due to land-use change and deforestation (FAO, 2005), sustainable
forest management can play an important role in climate
change mitigation. Forestry offsets also provide a range of environmental
benefits, such as wildlife habitat and water quality improvement.
Due to the absence of a comprehensive greenhouse gas
(GHG) regulatory emissions reduction standards, such as national
cap-and-trade legislation, voluntary carbon markets have dominated
in the U.s. and state and region-based programs are being developed
to reduce greenhouse gas emissions. Regional programs include the