The Forestry Commission has announced that £10m will be available in the second auction of the Woodland Carbon Guarantee.
The Woodland Carbon Guarantee is a scheme that aims to help accelerate woodland planting rates and develop the domestic market for woodland carbon for the permanent removal of carbon dioxide from the atmosphere. It provides land managers with long-term certainty of a guaranteed payment rate for carbon, which their trees lock up and store.
Applications to the scheme currently close on 5 June, ahead of the next auction which will take place online from 8 to 19 June. Successful participants will be offered the option to sell Woodland Carbon Units to the government over 35 years at a guaranteed price set by auction and protected against inflation and will not be expected to plant their trees until the next tree planting season (winter 2020/21).
For more information on this, please see the Government guidance here