The government has announced a new £50 Million scheme to encourage tree-planting in efforts to help
The government has announced a new £50 Million scheme to encourage tree-planting in efforts to help tackle climate change. The scheme, known as the Woodland Carbon Guarantee encourages farmers and landowners alike to plant trees and receive payments as they grow.
The government has launched this scheme as the trees capture and store carbon from the atmosphere, otherwise known as carbon sequestration. The scheme opens a new income stream for participants as they will be offered the option to sell captured carbon dioxide in the form of ‘verified carbon credits’, called ‘Woodland Carbon Units’ (WCUs) to the government for a guaranteed price every 5 to 10 years, over 35 years under a guaranteed price set by auction. WCUs are generated through verification checks carried out under the Woodland Carbon Code, which assesses how the woodland has grown and how much carbon dioxide has been captured.
In order to apply for the Woodland Carbon Guarantee, land managers need to register their projects with the Woodland Carbon Code, which provides the information needed to plan and calculate the amount of carbon your woodland will remove from the atmosphere.
Find out more about the Woodland Carbon Guarantee here.
The government-appointed Tree Champion Sir William Worsley said: “The role trees play in combating climate change cannot be underestimated and by applying to the Guarantee you will also play a crucial role in helping with the UK’s efforts to hit Net Zero carbon emissions by 2050.”