A study of four leading forestry project standards from the voluntary carbon market reveals significant differences in approach, making the choice of which standard to use vital for both project developers and future credit buyers. Forestry Carbon Standards, 2008, is a practical examination of four leading third-party verification standards to give forest-carbon project developers a detailed comparative picture of their options for the verification of their carbon, socio-economic and environmental cobenefits. The standards cover a range of afforestation and reforestation (A/R) activities, including sustainable harvesting, agro-forestry and pure conservation planting projects. Aimed at both project developers and carbon credit buyers, the report updates an earlier version looking at the same four standards. The report shows that the four standards have differing treatments of key issues around the generation of forest carbon credits and their verification. It considers in detail additionality, permanence, carbon accounting, certification, the social and environmental co-benefits of forestry project and the costs of becoming certified under each standard.