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Increase in Carbon Sequestration Due to Afforestation Activities Economic Sector Forestry Applicant/Partner State Forestry Association "SUMYLIS" General Information The Sumy oblast is located in Ukraine's forest-steppe and marshy woodland zones. "SUMYLIS" is a regional association responsible for managing the Sumy oblast forest reserve (scheduled and sanitary forest felling, maintenance of forest reserve, reforestation, creation of protective forest stand, etc.). Today, the oblast has over 5.8 thousand hectares of heavily eroded and contaminated lands, and afforestation is the only viable use for these lands. Due to favorable climatic conditions, these lands can contribute to the oblast's and Ukraine's forest reserve. Objective Planting 300 hectares of forest. This forested area could sink an estimated 439 tones of greenhouse gases (in CO2 equivalent) per year. Cost According to preliminary estimates, the total cost of the project will be more than 200 thousand USD. Funding Schemes The most attractive funding schemes are to either obtain a grant under one of the Global Environmental Facility programs (biological diversity support and climate change mitigation) or implement a project within the joint implementation mechanism. Other funding schemes and mechanisms may also be considered. Contacts Interested parties should contact the Climate Change Initiative,
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