In countries and regions where development projects are frequently implemented, there is a significant change in the value of carbon sequestration services according to land use and land cover (LULC) changes. In this study, we analyzed the changes in the carbon sequestration services which occurred due to the LULC changes over a 20 years period (1989-2009) in Korea where local development projects have been active, since 1990s. As a result, the total carbon stocks decreased by about 0.07 billion t C. Significant changes in the carbon stocks mostly occurred in areas where development projects were frequently implemented. The loss of economic value due to the changes in carbon stocks over 20 years was 4.7 trillion won (4159 million USD) when market price of carbon is applied. Therefore, in countries and regions where there is an active development, it is necessary to monitor the land-use changes with high carbon stocks, to reconsider the value of the carbon when making policy decisions which cause LULC changes, and to internalize social costs into the market prices. Especially at a local level, it is necessary to promote management policy based on carbon sequestration services in accordance with local conditions such as size and types of the changes in carbon stocks.
Bibliographical noteFunding Information:
Acknowledgments: This study was conducted as part of “An Integrated Approach to Environmental Valuation” supported by the Korea Environment Institute and independent of the position of the Ministry of Environment.
Funding: This research was supported by the Korea Environment Institute General Project (GP2016-10) and funded by the “Ecosystem Services Evaluation and Pilot Mapping Project II” conducted by the Korea Environment Institute.
© 2019 by the authors.
- Carbon cost
- Carbon sequestration service
- Carbon storage capacity
- Development pressure
- LULC change
ASJC Scopus subject areas
- Geography, Planning and Development
- Renewable Energy, Sustainability and the Environment
- Environmental Science (miscellaneous)
- Energy Engineering and Power Technology
- Management, Monitoring, Policy and Law