Exposure to canopy fire reduces the biomass and stability of carbon stored in fire tolerant eucalypt forests

•Increased exposure to canopy fire may threaten carbon stocks in resprouting forests.•The response of carbon to short-interval understorey and canopy fire was assessed.•Carbon decreased after one canopy fire but was resistant to repeated canopy fires.•Large trees are a fire-resistant carbon pool in forests of epicormic resprouters.•Carbon estimates need to account for the partial mortality of resprouting trees.