04.11.19
£50m Woodland Carbon Guarantee scheme to encourage tree planting
The government have today announced plans to launch a £50 million scheme to help the fight against climate change by boosting tree-planting rates.
The new Woodland Carbon Guarantee will inspire farmers and landowners to plant more trees and create new woodland in return for payments as those trees grow.
This fresh initiative gives land managers in England the long-term financial income they need to invest in carbon sequestration, the process by which trees lock up and store carbon from the atmosphere.
Successful candidates will be offered the option to sell Woodland Carbon Units to the government over 35 years at a guaranteed price set by auction, providing new income for land managers who help businesses compensate for their carbon emissions.
Trees are a vital natural asset and, as a natural carbon sink, are a vital part of the fight against climate change. Woodlands and forests will play an important role in the UK’s efforts to hit net zero carbon emissions by 2050, which is why the government is committed to planting 11 million trees by 2022. Funding for this scheme was announced by HM Treasury in the 2018 Autumn Budget.
Forestry and Climate Adaption Minister Zac Goldsmith said: “Woodland creation is an excellent way to help combat the effects of climate change.
“By supporting farmers and land managers who decide to invest in tree-planting, we are making sure we tackle climate change through nature-based solutions and – as part of our 25 Year Environment Plan help leave the environment in a better state than we found it.
“The Woodland Carbon Guarantee means that now more than ever there is no reason to delay planting trees.”