s:1104:"%T Opportunities and challenges in environmental service payments: Crabon sequestration 
%A Pulhin F B 
%A Banaticla M R N 
%A Lasco R D 
%X Tropical forests have an important role to play in climate regulation as sources and sinks of carbon. They can help mitigate climate change by conserving existing carbon stocks, expanding carbon in terrestrial systems, and by substituting fossil fuels. The Kyoto Protocol sets greenhouse gas emission limits for Annex 1 (developed) nations. The Clean Development Mechanism (Article 12) is one of the three flexibility mechanisms established to meet the goals of the Kyoto Protocol. In COP-6, the parties agreed to include land use, land-use change and forestry projects under the Clean Development Mechanism but limited projects to afforestation and reforestation. The potential of Philippines forest lands to sequester carbon is presented. Millions of hectares of denuded lands are potentially suitable for reforestation and agroforestry type of activities. Finally, the paper discusses the potential global market size of the Clean Development Mechanism. 
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