The lack of an established market enabling land owners and occupiers to obtain a financial benefit from decarbonising activities on their land is often cited as a an impediment to the development of these activities. They are recognised as being generally beneficial, but who is to actually pay for them?
The latest stage of the government's Woodland Carbon Guarantee scheme is expressly intended to help create such a market. Credits from the scheme can be sold to the government In the future, so there is at least one buyer in the market, or can be sold to other buyers. It is in envisaged that this will enable those looking to establish new woodlands now to have at least some confidence that they will be financially viable in the future.
This is part of a continuing series of Woodland Carbon Guarantee auctions. These schemes are likely to be of interest to the growing number of land managers who are eyeing the potential benefits from the push to net zero.
A £10m fund has become available for farmers and land managers to create new woodlands to help tackle the effects of climate change.