Measurement of the fair value of forest carbon sinks – Taking Yixing National Forest Park as an example

Abstract

Management of forest carbon sinks can be viewed as a strategy to deal with climate change. To promote the establishment and improvement of the forest carbon market, it is important to measure the economic benefits of China’s existing forest carbon sinks with special weighting to forests along with protection of nature. Objectively measuring the value of a carbon sink is an important prerequisite to play the role of forest carbon pool and improve the efficiency of carbon sinks. This paper considers the strategy and process of forest carbon sink value accounting from two aspects of forest carbon storage and value, puts forward a set of forest carbon sink fair value accounting ideas, and considers Yixing forest farm as the research area. The following methods were used to compare the forest carbon stock of the Yixing National Forest Park. First, the economic benefits of forest carbon sink were evaluated with a market approach and carbon fair value. Next, the biomass expansion factor method and income approach were used to compute the forest carbon stock of Yixing National Forest Park, indicating a high carbon fair value.