Forests are huge carbon sinks. Their management have an impact on global CO2 emissions and investments.
Due to unmanaged or mismanaged fire risk, forest projects have a high potential of profitability. The RiskFP team works on an integrated fire risk assessment tool, dedicated to measure fire impacts.
Among the three major economic activities in the forest sector, timber production, ecological conservation/protection and climate change mitigation, the last two have strongly grown thanks to to climate change mitigation related investments. Meanwhile, this growth appears to be hampered by the fire risk, inherent in forestry projects.
ONFI, ARIA and South Pole Carbon Asset Management, all RiskFP members and experts in forest lands and carbon finance, have identified a global need for precise fire risk assessment tools, at different levels in the market chain. The RiskFP tools will allow a better understanding of the nature of the risk, so as its geographic and temporal distribution. As such, the tools could address several needs in the forestry sector.
RiskFP partners focus on those needs, discussing with four types of market players:
- Forest carbon projects management
- Forest logging market
- Insurance market
- Forest protection market
With this perspective, RiskFP found synergies with other Climate-KIC solutions, especially OASIS.