## 3 Results and Discussion
### Carbon Credits in Bamboo Projects  
Bamboo is extensively distributed in tropical, subtropical, and mild-temperate global zones with around 1662 species and 121 genera [66]. Bamboo forest carbon projects have considerable potential for trading in the form of afforestation, reforestation, and reducing emissions from deforestation and forest degradation (REDD) under the clean development mechanism (CDM) and many other national and international schemes [53; 82]. For instance, the Moso bamboo forest can sequester around 22% more carbon than the fast-growing Chinese fir forest per 60-year cycle [11]. In addition to carbon sequestration and its potential for carbon offset projects, bamboo forests also play an essential role in rural poverty alleviation and diverse ecosystem functions, including soil erosion prevention and maintaining the atmospheric oxygen-carbon balance [36]. However, there are limitations to including bamboo in REDD projects, as the core management strategy of selectively cutting bamboo forests is considered unsustainable for REDD projects [82]. Additionally, REDD projects require trees, while bamboo belongs to the Poaceae family, causing a fuzzy definition of whether or not to include bamboo in forest ecosystems [82]. [PERSON] et al. [82] proposed that forthcoming REDD initiatives should consider bamboo due to its sustainable harvesting practices, and the 2013 Warsaw Framework for REDD empowers nations to individually define their forests. Bamboo carbon project methodologies refer to methodological accounting rules and standards for measuring, reporting, and verifying bamboo-related carbon activities. Although the Chinese market is already equipped with bamboo methodologies, the National Development and Reform Commission of China (NRDC) halted the China Certified Emission Reduction (CCER) market because of issues, including the small transaction volume of CCER and insufficient standardization of individual projects [95]. As a result, there is only one registered bamboo CCER project on the market (Table 7), the bamboo afforestation project in Tongshan County, Hubei Province (Tongshan). The Tongshan Project is a 20-year afforestation project covering about 700 ha, accounting for aboveground, belowground, and product carbon pools; it removes about 6556 tons of carbon annually [96]. [PERSON] et al. [97] used the net present value method to analyze input-output data from the Tongshan project considering three aspects: bamboo timber, carbon credits, and bamboo shoots. They found that the project's expected earnings were RMB 28,488 per hectare, and the net present value was RMB 10,750 per hectare, demonstrating great economic benefits. Although the Shunchang County State-owned Forest Farm Bamboo Forest Management Carbon Project (Shunchang) is listed under the Fujian Forestry Carbon Emission Reductions (FFCER), it also complies with CCER bamboo methodologies. The Shunchang Project is a 30-year forest management project with 2278 ha and extensive tending measures, including adjustments in stand structure and density, fertilization, and shoot retention. The project can reach 8639 tons of annual emission reductions [98]. [PERSON] et al. (2020) [99] applied the CCER methodology for bamboo forest management to systematically measure the carbon credits generated by the Shunchang Project over the first six years. They found that the average annual emission reduction was 25,563 t CO\({}_{2}\)-e, suggesting that the carbon credit potential is greater in the early years. On the other hand, the French Development Agency (AFD) developed a large forest management project with 100,100 ha of bamboo rehabilitation and 60,600 ha of tree plantation. The annual emission reduction capacity was 129,000 tons, but the detailed methodology was not reported [100]. However, the stagnation of CCER prevented a significant number of CCER bamboo projects from entering the market. All relevant industry participants expect the relaunch of CCER as the remaining valid CCER in stock is running out.