The government has launched a new £50m scheme in order to encourage farmers and landowners to plant more trees.
According to the government, the £50m Woodland Carbon Guarantee scheme, which was announced yesterday (November 4), means that farmers and landowners will be encouraged to plant more trees and create new woodlands in exchange for payments for the carbon that these trees absorb.
The government has said that this scheme will give land-owners ‘long-term financial income’ as the government continues to invest in carbon sequestration, the process where trees absorb and store carbon from the atmosphere.
Participants in the scheme will have the option to sell the Woodland Carbon Units to the government over a 35 years period at a guaranteed price, as businesses provide payments in order to offset and compensate for their emissions.
The landowners can choose to sell their carbon sequestration independently, but by working with the government they will receive a guaranteed income for delivered carbon units at agreed dates over the 35-year period by selling the carbon units to the government.
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 that we tackle climate change through nature-based solutions.’
‘The Woodland Carbon Guarantee means that now, more than ever, there is no reason to delay planting trees.’
Sir Harry Studholme, chair of the Forestry Commission said: ‘The Woodland Carbon Guarantee is an innovative new financial incentive for the mitigation of carbon dioxide emissions.’
‘By underpinning the carbon price I hope it will give confidence to landowners and investors, and encourage the planting of the right kind of trees at a viable scale.’
‘Creating more woodland is vital in the fight against climate change, and the Guarantee provides land managers with the long-term certainty of a guaranteed payment rate for carbon, which their trees lock up and store.’
Government-appointed tree champion William Worsley said: ‘The Woodland Carbon Guarantee provides an exciting opportunity for land managers to be rewarded for enhancing the environment on a sustained long-term basis.’
In related news, earlier this year Lancaster City Council announced plans to plant a million trees across north Lancashire to help boost the Northern Forest project.
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