산림 탄소흡수원 기능의 증권화 방안

This study presents measures for securitizing the forest carbon sinks among the public functions of forest as a strategy to improve the investment function and value of forest so as to attract new investments in the forestry sector. According to the securitization of forest carbon sinks, when a fund is established, forest owners deposit their forests for which they have not acquired a forest certification to the fund and receive deposit right and investment right in return. Then companies who are interested in the environment invest capital in the fund and acquire a volume of forest carbon absorption in return corresponding to the fund as investment right. These companies can then record their forest carbon absorption volume in their environment accounting (environmental report) to advertise that they are fulfilling their social responsibility toward environmental problems. The capital invested by companies are used for forest management to acquire forest certification. It is anticipated that this securitization of forest carbon sinks will attract new investments from companies because they can acquire a volume of forest carbon absorption that corresponds to a few multiples of their investment in the forest sector and obtain the effect of acquiring experts in forestry.