A Review of Emission Reduction Potential and Cost Savings through Forest Carbon Sequestration

Abstract

Rising atmospheric concentration of greenhouse gases has been increasing with its negative effects on climatic system. Forests absorb and store a huge amount of atmospheric carbon dioxide (one of the major greenhouse gases) as tree biomass. Because of such capacity of forests which is called carbon sequestration, it has received much attention due to the concerns of global climate change. The research question is whether forest carbon sequestration could potentially reduce emissions in a cost effective way or not. Therefore, this article reviews and summarises emission reduction potential and cost savings through forest carbon sequestration. However, tropical forests have the highest aboveground carbon density and carbon sequestration potential compared to the subtropical, temperate and boreal forests. Instead, carbon sequestration potential found to be higher in Africa followed by North America, Asia, South America, Europe and Australia. The cost for one tonne of forest carbon sink enhancement ranges between 0 to US$ 443 in 2011 prices. Forest carbon sink enhancement cost in tropical region is found cheaper than any other region in the world. Carbon forestry options i.e. forest management, afforestation and reforestation can decrease the equilibrium carbon price up to 80% and reduce the emission reduction costs up to 40% whereas afforestation found to be the most low-cost carbon sequestration option. Hence, forest carbon sequestration plays an important role in reducing emissions which offers an opportunity for cost-effective climate change mitigation.