As part of the third auction of the Woodland Carbon Guarantee, farmers and landowners are being offered £10m to help create new woodlands.
The scheme gives farmers and land owners the opportunity to sell Woodland Carbon Units to the government at a guaranteed price protected against inflation. According to Defra and the Forestry Commission, the previous auction that was held helped stimulate 1,517 hectares of tree planting.
The next auction will take place online between the 26th October and the 1st November and the deadline to apply is the 11th October.
Landowners and farmers will become eligible for long-term payments if they give up their land for tree planting. Payments will be based on the amount of carbon a new woodland will store. Those landowners and farmers who are successful at bidding 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.
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