A system for monitoring a borehole includes: a borehole string configured to be disposed within the borehole and configured to direct a fluid into the earth formation for storage in the earth formation, the fluid including carbon dioxide; at least one optical fiber sensor disposed on the borehole string at a fixed location relative to the borehole string, the optical fiber sensor including a plurality of measurement units disposed therein along a length of the optical fiber sensor, the plurality of measurement units configured to cause a wavelength shift in an interrogation signal received in the at least one optical fiber sensor due to at least one of a strain and a deformation of the borehole string; and a processor configured to transmit the interrogation signal to the at least one optical fiber sensor, and calculate at least one of the strain and the deformation based on the wavelength shift.