The Bahamas is expected to become one of the first to sell ocean-based ‘blue carbon’ credits.
Coastal ecosystems – seagrass, mangroves and marshes – are estimated to store 3x-5x more CO2 per hectare than tropical forests. Researchers calculate that such habitats already store up to 30bnT of CO2 – close to the global total of 2021 fossil fuel emissions.
The Bahamas is reported to have 1,600 square miles of mangrove forests and other marine ecosystems – with an estimated value of at least US$300m.
Adapted from an article in Grist