DURHAM, N.C. – Forest carbon payments – payments for planting or restoring forests or preventing their degradation or deforestation – are among the most promising approaches in use today for combating global forest loss and mitigating climate change.

But although they’ve been around for nearly 20 year, with more than 67.8 million tons of carbon dioxide transacted, the costs and legal fees associated with the transactions remain significant and unpredictable due to the range of project types and complexity of forest carbon projects.

A new document, drafted by a team of 91 environmental law experts in collaboration with international partners, seeks to lower transaction costs and level the playing field by explaining and discussing the clauses of an emissions reduction purchase agreement, which is the typical contract used to buy and sell forest carbon credits.

The document takes buyers and sellers step by step through the transaction process, defining terms and key elements, and helping familiarize them with the format.

It’s available online at . 

Although useful for forest carbon buyers and sellers of all sizes and experience levels, the document may be especially beneficial for sellers associated with small-scale or community-based projects, who often have limited financial resources and little experience in drafting legal contracts.

“Contracting for Forest Carbon: Elements of a Model Forest Carbon Purchase Agreement,” was written by Slayde Hawkins, legal advisor and policy analyst for the Katoomba Group-Forest Trends; Michelle Nowlin, supervising attorney and senior lecturing fellow at the Duke Environmental Law and Policy Clinic; Daniel Ribiero and Ryan Stoa, associates in research at the clinic; Ryke Longest, director and senior lecturing fellow at the clinic; and Jim Salzman, Samuel F. Mordecai Professor of Law and Nicholas Institute Professor of Environmental Policy.

For more information, contact the Duke Environmental Law and Policy Clinic toll-free at (888) 600-7274, or visit its website at www.law.duke.edu/envlawpolicy.