One of the simplest methods of GHG removal is the planting of trees that absorb carbon dioxide from the atmosphere and sequester this carbon dioxide for long periods of time. These “TreeSmart” programs are not free of charge and require up-front investment in order to achieve the carbon sequestration. The cost-efficiency of a TreeSmart program will depend on the amount of investment involved, the carbon absorbing ability of trees and the nature of the financial arrangement entered into for a tree-planting exercise. This paper compares the cost efficiency of TravelSmart and TreeSmart projects in removing GHG from the atmosphere (in terms of dollars per tonne of carbon dioxide absorbed/reduced). The TravelSmart efficiencies are based on such projects recently conducted in Australia, while the TreeSmart efficiencies are based on a range of business models for eucalypt plantations in Victoria. The paper also identifies some other benefits that might be achieved by each type of program. (a) For the covering entry of this conference, please see ITRD abstract no. E213716.
Samenvatting