The international carbon market provides a unique opportunity to increase ecosystem services and biodiversity through the revegetation of agricultural landscapes. Although the primary motivation for revegetation is to increase carbon sequestration, revegetated areas can provide additional financial, social, and environmental cobenefits that provide different levels of private and public net benefit. Conversely, carbon farming, if it is not implemented carefully, can create disbenefits, such as increased land clearing, monoculture plantations replacing diverse remnants, and unintended impacts across national borders. Economic models of carbon revegetation show that policies aimed at maximizing carbon sequestration alone will not necessarily lead to high uptake or maximize cobenefits. Careful consideration of policy incentives that encourage carbon plantings to deliver both public and private cobenefits is required, and solutions will need to balance both objectives in order to incentivize the sustainable, long-term management of carbon plantings across the landscape.