Payments for carbon sequestration services

Excerpt from Introduction: "Carbon sequestration - the process of removing excess carbon dioxide (CO2) from the atmosphere and storing it on land - helps mitigate global warming. Various land-use changes (no-till agriculture, grasslands) can absorb or sequester carbon. For instance, when barren lands are converted to forest, growing trees sequester CO2 from the atmosphere and store it as woody biomass and soil organic matter. Conversely, when mature forests are replaced by croplands, a large amount of CO2 is released into the atmosphere.