Bamboo, a rapidly growing member of the grass family, thrives across diverse climates worldwide and offers vital ecosystem services essential for human well-being and economic development. Notably, bamboo releases 35% more oxygen than other trees and sequesters an average of 12 tons of carbon dioxide per hectare, highlighting its significant ecological benefits. This study analyses the contribution of bamboo to climate change adaptation and mitigation, focusing on Tanzania as a case study. Specifically, the study aims to determine the amount of biomass and carbon stock of bamboo in Tanzania, and estimate the financial benefits from including bamboo in carbon payment projects like REDD+. Utilizing adapted allometric models and data from the National Forest Resources Monitoring and Assessment (NAFORMA) of 2015, the study reveals that Tanzania possesses 4.04 billion tons of stored bamboo biomass and 1.9 billion tons of stored bamboo carbon, translating to an estimated 7.6 billion US dollars in unutilized conservation profit from carbon trading. The findings indicate that 51.4% of the stored bamboo biomass, carbon, and potential conservation profit are concentrated in the genus Bambusa, with nearly half of these resources located in the southern regions of Lindi and Mtwara. These results underscore the substantial ecological and economic benefits of bamboo ecosystem services, emphasizing the need for stakeholders to formulate strategies for the sustainable production, conservation, and management of bamboo in Tanzania. The study provides a benchmark for developing policies and plans that leverage bamboo's potential in climate change adaptation and mitigation, promoting environmental sustainability and economic growth.