Center for Marine Biodiversity and Conservation

Mangroves are highly efficient blue carbon sinks that sequester and store large quantities of carbon in standing stock biomass and sediments for long time periods. The conversion of one hectare of mangrove to shrimp farming in Thailand can release 330 mt CO2 e/ha/yr. Reducing Emissions from Deforestation and Forest Degradation-Plus (REDD+) provides international payments and assistance for avoiding anthropogenic emissions from deforestation. REDD+ must compensate land users for lost income. In Thailand, shrimp farming resulted in rapid mangrove deforestation with profits ranging from $725/ha (low) upwards of $36,000/ha (high), with an average income of $6,235.58/ha. Given that one hectare of mangroves grants 231 carbon credits per year, for a low-profit shrimp farmer, the price per ton of CO2 e would have to equal $3.14/mt CO2 e. For the average shrimp farmer, a price of $27.00/mt CO2 e makes conservation as profitable as shrimp farming. For a high-profit farmer, the price per ton of carbon must equal $156.00/ mt CO2 e. Prices in existing carbon markets can cover the opportunity costs of marginal shrimp farmers in Thailand despite the high profits of shrimp aquaculture. REDD+ carbon credits and incorporation into existing markets present an opportunity to provide a substantial funding and tangible incentives for mangrove conservation.