Land managers offered guaranteed income for tree planting after third auction of Woodland Carbon Guarantee is announced.
Farmers and land managers across England have been encouraged to by 11 October. This is ahead of the next online auction which will take place between 26 October to 1 November.
New tree planting schemes are eligible for long-term funding for the amount of carbon a new woodland will store, providing new income streams for farmers and land managers.
Following the online auction process, successful bidders will be offered the option to sell woodland carbon in the form of Woodland Carbon Units – a financial value given to each tonne of carbon stored – to the government over 35 years at a guaranteed price protected against inflation. The scheme reflects the government’s commitment in the continued growth of markets for woodland carbon, as landowners will have a revenue stream in future from selling carbon to the domestic market.
The second auction which closed in June 2020 saw 27 contracts offered by the Forestry Commission helping stimulate the creation of 1,517 hectares of new woodland specifically to help combat climate change.
If you are potentially interested in applying for the Woodland Carbon Guarantee Scheme do not hesitate to contact Will Foyle or Katie Fall on 01423 860322.