Using forest carbon credits to offset emissions in the downstream business
This report examines if and how forest carbon credits can potentially be used to offset emissions from the EU refining and road transport sectors. Forest carbon projects involve either forestation (capturing CO2 from the atmosphere during the growth of the forest) and/or protection of forests that would otherwise be cut. In both cases, the projects reduce the overall level of CO2 in the atmosphere. Forest carbon projects can generate credits that, once certified by an independent agency, can be sold on the carbon market.