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Example

RGGI Forest Offset Projects and Biomass Exemption

The Regional Greenhouse Gas Initiative, a carbon cap-and-trade program amongst Northeastern states, has established offset credits Afforestation and Forestry. Allowances are awarded based on the additional net carbon that is permanently sequestered in standing biomass and wood products during each period as a result of the project. RGGI also exempts the CO2 emissions from “eligible biomass” from the requirement for the surrender of allowances, incentivizing sustainable forestry practices.

Documents

  • Existing Laws

    RGGI Model Rule

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  • Existing Examples

    RGGI Forestry and Afforestation Offsets webpage

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Related Resources

Example

Maine Tree Growth Tax Law

States and State Governments Example

Kentucky Forest Stewardship Incentives Fund

States and State Governments Example

California Cap-and-Trade Forest Offset Projects and Biomass Exemption

States and State Governments Resource

Report, Seeding Capital: Policy Solutions to Accelerate Investment in Nature-Based Climate Action

States and State Governments Example

North Carolina property tax reduction for forest conservation

States and State Governments Example

New Jersey RPS Sustainable Biomass Requirements

States and State Governments