for both monitoring the global carbon cycle and enforcing possible policy mechanisms (for example, if forestry offsets are included GHG management). Managing forests to store carbon, given the opportunity cost of forested land including agricultural production and timber supply, could lead to changes in land use elsewhere and in turn complicate modeling and design of effective climate policy. The effort to decrease deforestation or increase afforestation in one geographic area and the shifting of deforestation to another area is a concern that has come to be called leakage. Murray et al. (2004) estimate leakage at 10 to 90 percent for various activities within the U.S. and Sohngen and Brown (2004) examine leakage in an international context (see also discussion in Sohngen 2010). Some forest carbon management proposals allow discounting or rental of forest assets and transferability of the assets to account for the possibility of their impermanence (Pfaff et al. 2000, Kim et al 2008). For these reasons, there would also be the need to update periodically the observations of global changes in forests.
One of the largest challenges to deployment of technology to serve these measurement and observational purposes is the financing of investments in instruments, spacecraft, and aircraft. Discussion of climate policy design has tended to overlook investment requirements. The existing fleet of instruments and craft has largely been underwritten by the space programs of national governments, and national space programs serve a wide range of objectives (Macauley et al. 2009). Moving forward, the financing of measurement and monitoring optimized for forest carbon remains a question.
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