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The economic costs of planting, preserving, and managing the world’s forests to mitigate climate change

December 10, 2020
News item image The authors estimate that under 1/4 of costs would be borne by private landowners.

Austin et al. 2020

It is now well established that forest protection, restoration, management and creation play a crucial role in mitigating climate change. This paper estimates the costs of such actions, and the amount of forest-based climate change mitigation that could be funded by different carbon prices. They find that a carbon price of $281 per tonne CO2 would be needed by 2055 for forests to contribute 10% of mitigation potential needed to limit global warming for 1.5°C.

It is important to remember that forests only comprise one component of nature’s role in climate change mitigation. Nature-based solutions in peatlands, mangroves, seagrass meadows, flooded grasslands, farmland and other ecosystems also make vital contributions to carbon sequestration.

Read the paper here.