FRA, a research and analysis consultancy, claims that the new code will help to boost the number of trees planted in the UK, which, in turn, could help reduce the country’s carbon emissions significantly.
The Forestry Commission stated that the new Woodland Carbon Code provides ‘a consistent national approach as well as clarity and transparency to potential investors about just what their money should buy them’. The press release issued by the Commission this week explains that tree planting helps counteract the damaging effects of fossil fuel burning as trees absorb carbon while releasing oxygen into the atmosphere.
FRA’s analysis partner, Peter Collins, added, “We always support attempts to encourage more investment in forestry projects all over the world. Attracting investment is key to both the developed world and to emerging economies, such as Brazil and Indonesia, which both have the additional concern of controlling illegal logging.”
FRA support projects such as the one operated by Greenwood Management in Brazil, which directs foreign investment into developing sustainable plantations of non-native trees, such as eucalyptus and teak.
In co-ordination with the new Woodland Carbon Code, the UK government’s Department of Energy, Food and Rural Affairs (DEFRA), has also changed the guidelines on how organizations need to report their emissions or greenhouse gas removals through Carbon Code projects.
“We now have the means to capitalise on some very significant funding opportunities and attract very welcome new woods and forests for everyone’s benefit,” stated Pam Warhurst, the Chair of the Forestry Commission.
Woodland projects need to be managed sustainably and to national standards in order to comply with the new code. They will need to use the recommended methods for estimating the amount of carbon that is to be captured, which will also need to meet with certain transparency criteria and will be certified by an independent party. “This code helps to clarify how investors’ money will benefit the environment and helps to clear up confusion about carbon capture," added Peter Collins.
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