Forest carbon markets are quickly evolving as the importance of forests in tackling climate change is increasingly recognized. Almost 25% of global carbon dioxide emissions are now covered by pricing mechanisms, with market value of more than USD 80 billion in 2021. Nature-based credits, such as forestry projects, often sell at a significant premium. In the rapidly growing market for voluntary offsets, forestry projects represent 50% of all credits issued in Q1 2022, with an expected value of almost USD 1 billion in 2022. …A recent paper in Nature found that forestry is responsible for CO2 emissions of 8 billion tonnes through deforestation annually. But this is more than offset by sequestration of 16 billion tonnes per year, providing a net annual sink of 8 billion tonnes. …There are three main ways forests can be used to reduce net global emissions, which also reflect the types of projects that provide forest carbon credits: Reduced emissions from deforestation and forest degradation (REDD)… Afforestation and reforestation… [and] Forest management.