The integrated system that embraces orseet management, forest products, and land-use change impacts the global carbon cycle-and hence the net emissio ofj the greenhouse gas carbon dioxide-in four fundamental ways. Caron is stored in living and dead biomass, carbon is stored in wood products and landfills, forest products substitute in he market place for products made from other mterials, and forest harvests can be used wholly ro partially to displace fossil fuels in the energy sector. Implementation of the Kyoto Protocol to the united Nations Framework Convenrtion on Climate Change would result in the creation of international markets for carbon dioxideemissions credits, but the current kyto text does not treat all carbon identically. We have developed a carbon accounting model, GORCAM, to examine a variety of scenarios for land management and the production of forest products. In this paper we explore, variety fo scenarios for land management and the production of forest products. In this paper we explore, for two simple scenarios of forest management, the carbon flows that occur and how these might be accounted for under the Kyoto text. The Kytoo protocol raises questions about what activities can result in emissions credits, which carbon reservoirswill be counted, who will receive he credit, and how much credit will be available? The Kyoto Protocol would sometimes give credits for carbon sequestered, but it would always give credits when fossil-fuel carbon dioxide emissons are displaced.
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