A TOTAL of £10 million is being made available for farmers and land managers to create woodlands to help tackle the effects of climate change.
The Woodland Carbon Guarantee scheme will provide income in the form of long-term payments for the amount of carbon a new woodland will store.
Administered by the Forestry Commission, landowners in England are being encouraged to apply by April 24 ahead of an online auction that will take place between May 9 and 15.
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Sir William Worsley, chair of the FC, said: “I strongly encourage farmers, foresters and land managers across England to submit their applications to the Guarantee ahead of the application deadline.”
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.
Before applying for the Guarantee, land managers will need to have registered with the Woodland Carbon Code, which provides the tools and information required to verify and record the carbon they are capturing and can sell in future.
The outcome of previous auctions supported projects across England at a range of scales, including in the South West and East where tree planting has been lower in recent years. The average price of bids accepted in the fourth auction was £18.62 per woodland carbon unit.
Register with the Woodland Carbon Code and apply for the Woodland Carbon Guarantee here.
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