Abstract
The carbon storage value of forest restoration, by the framework species method (FSM) in northern Thailand, was assessed for trees (using a partial harvesting technique) and soil and compared with restoration costs. Forest carbon accumulation amounted to 143.08 tC/ha in trees and 8.56 tC/ha in soil over 14 years, with a combined value of USD 27,173.63 (net present value (NPV), discounted at 2.85%/year)) (at the current European carbon credit (EUA) price of 55.98 EUR/tCO2 = 242.21 USD/tC). Restoration costs increased from 2190.27 to 5680.72 USD/ha with declining pre-existing natural regeneration or 3.99–10.34 USD per ton of sequestered CO2. Profits over 14 years ranged in NPV from 22,215.45 to 25,157.04 USD/ha, breaking even from just over 4 years to just under 7, respectively. In contrast, profits from maize cultivation (a major regional deforestation driver) averaged 96.25 USD/ha/year, or just 1347.53 USD/ha over 14 years. Consequently, forest restoration could become a financially attractive alternative land use, provided an open, transparent, carbon market is created. Therefore, this study supports creation of a forest-carbon trading system in Thailand, to incentivize forest restoration and fire prevention, increase farmers’ incomes, reduce smoke-related public health problems, protect watersheds, and conserve biodiversity.
Highlights
Accepted: 9 January 2022Interest in the major role that forest restoration could play in mitigating climate change, through carbon sequestration, has grown substantially in recent years [1]
2015, total anthropogenic carbon emissions amounted to 408 PgC [2], with tropical forest destruction contributing about 8%
Lewis et al [6] reported that natural forest restoration is the most effective land-use change technique for climate change mitigation, being 6 times more efficient at sequestering carbon than agroforestry and 40 times more
Summary
Interest in the major role that forest restoration could play in mitigating climate change, through carbon sequestration, has grown substantially in recent years [1]. Conservation, restoration, and improved management of tropical forests, mangroves, and peatlands could provide 23% of the mitigation action needed to limit global warming to 2 ◦ C by 2030 [3]. Global recognition of the importance of forest restoration for climate change mitigation emerged in 2007, when “enhancement of carbon stocks” was included in the UN’s REDD+. Lewis et al [6] reported that natural forest restoration is the most effective land-use change technique for climate change mitigation, being 6 times more efficient at sequestering carbon than agroforestry and 40 times more
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