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Baseline additionality. Compared to the baseline scenario the project needs to mitigate climate change. That is the project must implement actions that are additional to what would occur compared to the baseline.

Level 1 additionality

Statutory additionality. The project must implement actions that are beyond requirements stipulated in local legislation or regulations. Projects are statutory additional if their implementation and/or operation is not required by any law, statute, or other regulatory framework, agreements, settlements, or other legally binding mandates requiring implementation and operation or requiring implementation of similar measures that would result in the same mitigations in the host country.

Level 2a additionality

Financial additionality II. The project is financially additional if it faces significant financial limitations that revenues from the sale of carbon credits mitigates or are revenues due to the sale of carbon credits are the only source of revenues. When carbon credit revenues are a precondition for the implementation of the project and/or carbon credit revenues are essential in maintaining the project operations and ongoing financial viability post-implementation, then they are considered to be financial additional II.

Level 4b additionality

Policy additionality. Implementation of actions may lie out of the scope of the host country's Nationally Determined Contributions under the Paris Agreement and, therefore, not eligible for international transfer mechanism. When project implementation goes beyond its host country’s climate objectives and lies outside of the scope of its climate action strategy towards its NDCs, it is considered to be policy additional.

Level 5 additionality

Europe

Festi Fjarðarhorn

In Iceland, the shelter provided by the forest is likely to come first to mind. We know that with increased tree cover in urban areas, the wind has calmed down in many places. With increased shelter, people's outdoor activities increase, as the utilization of forests for various outdoor activities has greatly increased as they grow taller. Paths of various types are laid out in the forests where people walk, jog, run and ride horses. When the snow comes in the winter, people take out their cross-country skis and increasingly special paths are laid for mountain bikes. Volleyball and beach volleyball courts are set up, playground equipment, puzzles, mini golf and more. 

The forest is a place for rehabilitation of people after physical or mental illness or mishap. It is also an ideal classroom for students of all ages in different subjects. The forest thus creates various opportunities for innovation in various sectors, for example tourism, as well as traditional jobs related to the forest's cultivation, care, and use of wood. Numerous studies show that simply by staying in the forest, breathing in the forest air, finding the scent and tranquility in the forest, we can remedy various ailments of soul and body. There are almost limitless opportunities in public health. Increased forest cover therefore increases general well-being and can contribute to increased optimism of people and satisfaction with their living conditions.

Ensure healthy lives and promote well-being for all at all ages

SDG 3: Good Health and Well-being

Various opportunities are created by forestry, including an increase in jobs. Seedlings need to be produced, planted, cared for in the forest, and felled and replanted. All of this requires people, despite ever increasing mechanization. In addition to increased land value, there are opportunities in timber processing and utilization of forests as a food source (mushrooms, berries, etc.) from which value can be created. This creates an ideal opportunity for people to set up small production companies that create value from pure natural resources.

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

SDG 8: Decent Work and Economic Growth

The government's policy is for Iceland to achieve carbon neutrality by 2040, and an ambitious action plan has been presented in this regard. The most important thing is to reduce greenhouse gas emissions as much as we can and sequester the rest. This is where forestry comes in, as various studies show that carbon sequestration through forestry gives very good results.
 
Based on 30 years of research, black cottonwood (a poplar) captures the most tCO2e (carbon equivalents) of the tree species that are being worked with in carbon sequestration projects and downy birch captures the least. The total number of carbon units that are captured in the 50 years that are being looked at, therefore, depends considerably on the species that are selected and considered suitable for planting in the area. Suitability is based on site quality of the land to be afforested and location, i.e., elevation, distance from the coast, slope, and soil depth.  

Take urgent action to combat climate change and its impacts

SDG 13: Climate Action

The forest also increases the number of species of birds, plants, fungi, and small animals in the wild. Increased diversity improves both nature and human life. Higher forest cover also improves resilience with respect to disturbance events, some of which are linked to climate change. In the countryside, forests support other land use sectors by providing shelter for people, livestock, and arable land, increasing vegetation and more.

Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

SDG 15: Life on Land

Afforestation and reforestation

Framleiðsla á kolefniseiningum á ca 250 ha í landi Fjarðarhorns í Húnaþingi vestra. Verkefninu er ætlað að binda kolefni á móti losun félaga innan samstæðu Festi hf, verkefnið mun einnig skapa önnur verðmæti eins og t.d. aukin loft- og landgæði sem og útivistarsvæði til framtíðar. Þá mun verkefnið skapa störf í nærumhverfi sínu við framkvæmdir og umhirðu svæðisins.

Carbon sequestration is the capturing, removal and storage of carbon dioxide (CO2) from the earth's atmosphere.

Festi Fjarðarhorn

Iceland

Afforestation and reforestation

FCC

Festi hf.

Iceland

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