Scheme designed to boost tree cover has been expanded for first time to farmers and landowners not already in receipt of government funding
The Forestry Commission has this week confirmed the dates of the next Woodland Guarantee Auction, the government-backed scheme designed to accelerate woodland planting rates across England.
In an announcement yesterday, the Commission said the £20m auction round would take place from September 23 to September 29, and confirmed it had expanded the eligibility requirements so more types of woodland projects could apply for funding.
Administered by the charity, the Woodland Guarantee Auction offers landowners and farmers the option to bid to sell woodland carbon credits - known as Woodland Carbon Units - to the government at a guaranteed inflation-linked price for a period through to 2055.
On top of securing a new stream of income for farmers, the £50m scheme is designed to accelerate planting of woodlands that can draw more carbon from the air, while created green jobs and helping to reverse biodiversity decline, the government said.
"The Woodland Carbon Guarantee continues to be a huge success, providing additional financial surety for nearly 3,000 hectares of new woodland across the country, helping to address some of society's biggest challenges including climate change and biodiversity loss," said Richard Stanford, chief executive of the Forestry Commission.
"The eighth auction is a great opportunity for even more farmers, foresters and land managers to reap the benefits of this scheme by receiving a guarantee of future additional income for increasing tree cover across the country and I encourage as many as possible to apply by 6 September."
For the first time this year, the auction has been opened to farmers, foresters, and land managers whose projects are not currently in receipt of government funding. Applications are now open for the scheme.
Before applying, land managers must have registered with the Woodland Carbon Code, which provides the tools and information required to verify and record the carbon they are capturing, the Department for Food, Environment and Rural Affairs (Defra) said.
The government said the scheme reflected its confidence in the "continued growth" of markets for woodland carbon credits and would enable landowners to benefit from a reliable revenue stream by selling credits through the domestic market.
The move is designed to help boost tree-planting rates following warnings the UK remains off track to reach its woodland creation goals. MPs on the Environmental Audit Committee last year raised the alarm over the low rate of tree planting, predicting the UK is currently on track to deliver less than half of the government's target of planting 30,000 hectares of new woodland by March 2025.
Could you or a colleague be recognised at the inaugural Women in Green Business Awards? You can submit your nominations for the awards now.
