The aim of the paper is to offer a systemic overview about some critical and interdependent relations among carbon offset, carbon sequestration and carbon stock. Rooting in the complexity perspective, the work discusses some relevant measurement methods and financial issues related to the land use - land use change forestry (LULUCF) applied under Kyoto Protocol rules. There are uncertainties on the estimation on carbon flux owing to the application of various models of estimates. The study also focuses on the credits of forestry projects, which can be sold or purchased on the carbon market. In conclusion, the work sheds light on the complex side of decision processes in framing and selecting models to estimate the carbon balance under the Kyoto Protocol target. The opportunity for investment in forest projects depends on the cost management of the projects themselves, and the price between wood market and unit carbon.
Keywords: carbon sink, carbon offset, carbon sequestration, carbon stock, carbon accounting, carbon markets, monoculture, complexity theory, complex systems, land use change, carbon flux, forestry projects, carbon balance, Kyoto Protocol, cost management, wood market prices, unit carbon prices