Abstract
Malaysia has a large extent of forest cover that plays a crucial role in storing biomass carbon and enhancing carbon sink (carbon sequestration) and reducing atmospheric greenhouse gas emissions, which helps to reduce the negative impacts of global climate change. This article estimates the economic value of forest carbon stock and carbon value per hectare of forested area based on the price of removing per ton CO2eq in USD from 1990 to 2050. The economic value of biomass carbon stored in the forests is estimated at nearly USD 51 billion in 2020 and approximately USD 41 billion in 2050, whereas carbon value per hectare forest area is estimated at USD 2885 in 2020 and USD 2388 in 2050. If the BAU scenario of forest loss (converting forests to other land use) continues, the projected estimation of carbon stock and its economic value might fall until 2050 unless further initiatives on proper planning of forest management and ambitious policy implementation are taken. Instead, Malaysia’s CO2 emission growth started to fall after 2010 due to rising forest carbon sink of 282 million tons between 2011 and 2016, indicating a huge potential of Malaysian forests for future climate change mitigation. The estimated and projected value of carbon stock in Malaysian forest biomass, annual growth of forest carbon, forest carbon density and carbon sink would be useful for the better understanding of enhancing carbon sink by avoiding deforestation, sustainable forest management, forest conservation and protection, accurate reporting of national carbon inventories and policy-making decisions. The findings of this study could also be useful in meeting emission reduction targets and policy implementation related to climate change mitigation in Malaysia.
Highlights
Global climate change and its negative effects on natural ecosystems have become a major environmental issue due to the continuous increase in greenhouse gases (GHGs) dominated by carbon dioxide (CO2) [1]
The forest biomass carbon stock in Malaysia is estimated at 2789 million tons in 2020
The forest carbon stock was 2869 million tons in 1990, which increased to 3603 million tons in 2000 with an additional 734 million tons of carbon in Malaysian forests
Summary
Global climate change and its negative effects on natural ecosystems have become a major environmental issue due to the continuous increase in greenhouse gases (GHGs) dominated by carbon dioxide (CO2) [1]. HHoowweevveerr,, MMaallaayyssiiaa iiss oonnee ooff tthhee SSoouutthheeaasstt AAssiiaann ccoouunnttrriieess wwhhiicchh iiss rriicchh iinn ttrrooppiiccaall ffoorreesstt bbiiooddiivveerrssiittyy[1[111].].MMalaalyasyisaiapopsosesssseessse5s5.535%.3f%orefsotreedstaerdeaaorfeathoeftotthael ltaontdalalraenad, wahriecah, wplhaiycshaplcaryusciaalcrruolceiailnrothlee innatthioennaaltcioanrbaol ncabrbaolannbceal[a1n2c]e. Forests 2021, 12, 1294 ecosystem services, economic valuation of forest carbon is required. Developing countries such as Malaysia can benefit financially from preserving natural carbon storage. Economic valuation of forest carbon helps reduce GHG emissions while reducing climate change. Economic valuation of forest carbon plays a significant role in reducing GHG emissions by enhancing the carbon sink while mitigating climate change.
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