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The urgent need to mitigate climate change has led to the exploration of innovative strategies, with forest carbon offsetting emerging as a promising avenue for sequestering atmospheric carbon dioxide. This research paper provides a comprehensive review of the current state of development in forest carbon offsetting initiatives, examining both advancements and persistent challenges. The paper begins by elucidating the significance of forests in the global carbon cycle and their pivotal role in climate change mitigation. It subsequently explores the evolution of forest carbon offsetting projects, encompassing afforestation, reforestation, and conservation efforts. Despite the progress made in forest carbon offsetting, the paper addresses several critical challenges hindering its widespread implementation. Issues such as land tenure uncertainties, governance gaps, and the lack of standardized protocols for carbon accounting are discussed in detail. Furthermore, the paper sheds light on the importance of community engagement, emphasizing the need for projects to align with local needs and respect cultural practices. Biodiversity considerations and potential ecological impacts are also scrutinized, emphasizing the imperative of balancing carbon sequestration goals with biodiversity preservation. The research concludes by proposing recommendations for overcoming these challenges, including the establishment of clear and standardized protocols, fostering international collaboration, and enhancing community participation. The findings contribute to a nuanced understanding of the multifaceted landscape surrounding the development of forest carbon offsetting, offering valuable insights for policymakers, researchers, and practitioners striving to advance effective and sustainable climate change mitigation strategies.
Kapoor et al. (Wed,) studied this question.