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Forestry projects participate in carbon markets by sequestering carbon dioxide equivalent (C[O.sub.2]e) and producing carbon offsets. The creation of forest-based offsets is guided by protocols that dictate how sequestered C[O.sub.2]e is converted into marketable offsets. Existing protocol designs aim to produce offsets that meet sustainability requirements, while providing financial incentives for landowner participation. However, limited Canadian uptake implies that current financial incentives are insufficient to encourage the production of carbon offsets via private landowners. Here we consider various design features of four protocols and their financial implications for an illustrative afforestation project in southern Ontario, Canada. We explore the protocols (two tonne-tonne protocols and two tonne-year protocols) under two afforestation project management systems ('no-harvest' and 'harvest' management scenarios). Results indicate that a project that terminates in a harvest is not economically attractive at current C[O.sub.2]e prices under any protocol design at a scale likely to be undertaken in southern Ontario, Canada. Projects that do not conclude in harvest are generally more attractive. Tonne-tonne protocols that pay upfront for sequestered C[O.sub.2]e improve the economic attractiveness of afforestation projects, but the delayed realization of the value of offset credits under tonne-year protocols reduces the economic attractiveness of these projects. We discuss these results in light of the choices facing afforestation project proponents and offset protocol designers (including governments) in general, and provide detailed insights into the financial dynamics of the Canadian case. Key words: forest carbon offset protocol, offset credits, afforestation, economic attractiveness, Ontario, Canada. Les projets forestiers contribuent aux marches du carbone en sequestrant de l'eq. C[O.sub.2] et en produisant des compensations carbone. La creation de compensations basees sur la foret est guidee par des protocoles qui dictent la maniere dont l'eq. C[O.sub.2] sequestre est converti en compensations commercialisables. La conception des protocoles vise a produire des compensations qui repondent aux exigences du developpement durable tout en offrant des incitatifs financiers pour encourager la participation des proprietaires fonciers. Cependant, la sequestration limitee au Canada signifie que les incitatifs financiers sont insuffisants pour encourager la production de compensations carbone par les proprietaires prives. Nous examinons ici differentes caracteristiques de conception en lien avec quatre protocoles et leurs implications financieres pour un projet de boisement dans le sud de l'Ontario au Canada. Nous analysons les protocoles (deux protocoles tonnetonne et deux protocoles tonne-annee) dans le cadre de deux systemes de gestion des projets de boisement (scenarios de gestion << sans recolte >> et << avec recolte >>). Les resultats demontrent qu'un projet qui se termine par une recolte n'est pas economiquement attrayant en fonction du prix actuel de l'eq. C[O.sub.2], quel que soit le protocole a l'echelle a laquelle il serait vraisemblablement entrepris dans le sud de l'Ontario. Les projets qui ne se terminent pas par une recolte sont generalement plus attrayants. Les protocoles tonne-tonne qui retribuent a l'avance l'eq. C[O.sub.2] sequestre ameliorent l'attrait economique des projets de boisement. Par contre, la realisation differee de la valeur des credits compensatoires dans le cadre des protocoles tonne-annee reduit l'attrait economique de ces projets. Nous discutons de ces resultats a la lumiere des choix auxquels sont confrontes les promoteurs de projets de boisement et les concepteurs de protocoles de compensation (incluant les gouvernements) en general et nous fournissons un apercu detaille de la dynamique financiere du cas du Canada. Mots-cles : protocole de compensation du carbone forestier, credits compensatoires, boisement, attrait economique, Ontario, Canada., 1. Introduction In the context of some emission reduction schemes--cap and trade markets, for example--polluters may purchase carbon offsets, a marketable credit representing carbon dioxide equivalent (C[O.sub.2]e) sequestration, to avoid [...]

Heat wave frequency, duration, and intensity are predicted to increase with global warming, but the potential impacts of short-term high temperature events on forest functioning remain virtually unstudied. We examined canopy processes in a forest in Central Ontario following 3 days of record-setting high temperatures (31-33 °C) that coincided with the peak in leaf expansion of dominant trees in late May 2010. Leaf area dynamics, leaf morphology, and leaf-level gas-exchange were compared to data from prior years of sampling (2002-2008) at the same site, focusing on Acer saccharum Marsh., the dominant tree in the region. Extensive shedding of partially expanded leaves was observed immediately following high temperature days, with A. saccharum losing ca. 25% of total leaf production but subsequently producing an unusual second flush of neoformed leaves. Both leaf losses and subsequent reflushing were highest in the upper canopy; however, retained preformed leaves and neoformed leaves showed reduced size, resulting in an overall decline in end-of-season leaf area index of 64% in A. saccharum, and 16% in the entire forest. Saplings showed lower leaf losses, but also a lower capacity to reflush relative to mature trees. Both surviving preformed and neoformed leaves had severely depressed photosynthetic capacity early in the summer of 2010, but largely regained photosynthetic competence by the end of the growing season. These results indicate that even short-term heat waves can have severe impacts in northern forests, and suggest a particular vulnerability to high temperatures during the spring period of leaf expansion in temperate deciduous forests. [ABSTRACT FROM AUTHOR]