Woodland carbon guarantee: Latest £10m tree planting auction set for autumn

Trees and woodland are a natural carbon sink @MichaelHolder Government confirms £10m auction of tree planting contracts The latest auction of tree planting contracts through the Woodland Carbon Guarantee scheme is set to take place online in the autumn, with £10m being made available to support farmers and land managers boost forestation to help tackle climate change, the government announced today. First announced last November , the "pioneering" £50m Woodland Carbon Guarantee offers long-term payments for the amount of carbon a new woodland can store, in a bid to provide an additional stream of income for farmers and land managers. The market-based scheme is administered by the Forestry Commission, and aims to help accelerate woodland planting rates as a natural means of removing carbon dioxide from the atmosphere. The scheme’s second auction closed in June 2020, which saw 27 contracts offered by the Forestry Commission to help stimulate the creation of more than 1,500 hectares of new woodland to help tackle climate change, according to Defra. The third auction of contracts is now scheduled to take place online between 26 October and 1 November 2020, after which successful bidders will be offered the option to sell Woodland Carbon Units […]

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