Which Countries Have the Most Forestry Carbon Offsetting Projects?
We analyze the spread of Forestry projects around the world.
Forestry projects are carbon emissions avoidance or removal projects that involve activities to manage forest land over a decade or more. Forestry and Land Use projects are not the most popular projects amongst the sectors because it’s independent on the location. However, it’s one if the most cost-effective and scalable ways to sequester carbon. The sector currently holds a total of 1,072 projects worldwide with over 149m credits retired since 2009, which is the second highest retirement rate after Renewable Energy projects. Using AlliedOffsets’ Premium Data Dashboard, we analyzed the sector’s global geospatial breakdown since 2009.
Forestry Projects by Continent
The continent with the most number of forestry projects is North America with a total of 452 projects leading to over 14m retired credits. Ironically, this is also the third lowest number of retired credits, after Europe, which has 156 projects and around thirty-four thousand retired credits. The reason for this low number of retired credits is because the majority of the Forestry projects in Europe are located in France, which are registered with Label Bas Carbone (LBC).
All LBC projects are new and therefore do not have retired credits data. The continent with the second highest number of forestry projects is Asia with 171 projects retiring over 32.6m credits to date. Following Asia is South America with 161 projects and over 64.5m credits to date, the highest number of retired credits for forestry projects in the world. Next up is Africa with 104 projects and 35.7m credits retired to date. Then in fifth place is Australia and the Oceania region, with 8 projects with just under 1.4m retired credits.
Top Host Countries by Number of Forestry Projects
According to our data, having the highest number of projects does not correlate with having the highest amount of retired credits. However, the Forestry sector is one of the fastest growing within the global carbon offset market due to its many environmental and social benefits. Countries located in Southeast Asia and the Americas are often better equipped with forest rich lands.
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