To put that in perspective, total CO2 emissions in 2005 were 28.2 gigatons. A reduction of 0.16 gigatons per year would make that an even 28 gigatons, a reduction of about about 0.7%. That may not sound like a lot, but consider this. During the 1990s ttopical deforestation was responsible for about 1.5 gigatons of CO2 emissions annually (source). A reduction of 0.16 gigatons would represent about 10% of the total emissions associated with tropical deforestation. Suppose we could reduce deforestation rates by 50% by 2050, the annual reduction in CO2 emissions would be about 0.5 gigatons.1 Now reduced impact logging is looking very promising. It would eliminate almost 1/3 as much CO2 as an ambitious program to reduce deforestation. Better yet, if we combined a 50% reduction in deforestation with reduced impact logging, the total annual savings would climb to 2/3 of a gigaton, or over 15% of the total reduction in CO2 emissions necessary to stabilize atmospheric concentrations at 450ppm.2
1The Gullison et al. paper in Science estimates a total of 50 gigatons over the 21st century. I get 0.5 gigatons per year by dividing 50 by 100.
2Here's how I get the "over 15%". Gullison et al. say that 50 gigatons is about 12% of the total needed. If 50 reduced impact logging adds 1/3 to that, the total reductions become 16%.