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Forest carbon markets: a review

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Abstract
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As global efforts to mitigate climate change intensify, forest carbon markets have emerged as a critical mechanism for balancing carbon emissions. The PRISMA approach was applied to review the literature on forest carbon markets, focusing on current trends, challenges, and future directions based on the literature from 2005 to 2024 in major academic databases, notably Scopus and Web of Science. A bibliometric study was conducted to analyze research trends, collaboration networks, and thematic evaluations of publications on the forest carbon markets. It was found that countries with robust economic development, significant environmental concerns, and a strong emphasis on ecological preservation had the highest publication rates. A few journals such as Energy Policy, Forest Policy and Economics and Carbon Management were identified as leading outlets in this field. The bibliometric study revealed that the trending topics were carbon, forestry, climate change, carbon sequestration, commerce, carbon emissions, and forest management. Most importantly, several misconceptions within the forest carbon markets literature were identified and examined, and the key challenges and opportunities for future expansion of the forest carbon market were highlighted. The findings suggest that well-designed policies could address knowledge gaps, strengthen global collaboration, and integrate ecological, economic, and institutional dimensions to effectively scale up forest carbon markets.

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