UK missing CCC tree-planting target by 17,000 hectares a year
The UK is missing the CCC’s tree-planting target by 17,000 hectares a year. Treeconomy has a plan to put the UK back on track.
Company News
Oct 5, 2020
Caspar Bossom
Big news from Treeconomy HQ today! As a new climate change impact business dedicated to developing nature-based carbon capture, we’re announcing our plan to put the UK back on track towards the CCC’s 30,000 hectare tree-planting yearly target.
In May 2019, a new report from the Committee on Climate Change (a non-political advisory body to the UK Government) officially recommended to the UK Government that 30,000 hectares of trees be planted every year to ensure the UK achieves its legally binding 2050 net zero emissions target. This would increase tree coverage in the UK from 13 to 17% of land area (an extra 1.5bn trees, according to the Woodland Trust).
Unfortunately, despite the strong recommendation from the CCC, 2019 only saw 13,400 hectares planted, and possibly even fewer will be planted in 2020 (partially due to disruption from the Covid-19 pandemic).
In response to the UK’s 17,000 hectares per year shortfall, we have formulated a new plan and business model to support the UK Government and finance landowners to develop more nature-based carbon capture and encourage further sustainable land use.
Recognising that financial income and proper reward is a difficult hurdle for landowners, Treeconomy is set to provide a financial incentive for landowners to plant trees, use remote sensing technology to both track the quality and validity of planting, and increase overall profitability. Through this process, we will be supporting unprecedented wide-scale action by individuals to combat climate change.
But how will we do this?
We have developed a 3 step approach:
Treeconomy aims to be planting the missing 17,000 hectares of trees (every year) within 5 years of being fully operational. To do this, a stepwise approach will be taken:
- Starting with smaller scale projects to build a strong understanding of project-level operations and to ensure Treeconomy is effectively supporting the landowners and farmers they plant with.
- Working with larger landowners and companies that have large existing farmer supply chains, such as food retailers. A focus on ‘insetting’, whereby companies buy carbon offsets from within their agricultural supply chains (this is expected to provide a strong incentive).
- The big push will come through an investment structure. Treeconomy believes there is a strong investment case for people to be able to invest in woodlands and forestry and participate in carbon capture efforts.
How the Treeconomy model works:
- Treeconomy uses drone-based LiDAR to accurately calculate how much carbon dioxide a forest area has captured. They are then able to sell this as a carbon offset to companies as they transition to net zero
- By using LiDAR, Treeconomy creates a 3D model of the forest area, providing a far more accurate gauge of how much carbon has been captured than conventional manual methods. This increases the trust and accuracy of the offsets they sell, allowing them to sell at a premium.
- This carbon premium can be passed back to the landowners they work with, providing a financial income over time, and fixing the financial issue.
- In addition, the drone LiDAR method of calculating carbon stocks in forestry should reduce the cost of verification at scale, further supporting the financial incentive to plant trees.
- In essence, farmers and landowners get paid for capturing carbon. Treeconomy calls them ‘Carbon Farmers’.
Commenting on the new plan, our founders, Robert Godfrey, and Harry Grocott, jointly said:
“Rather than criticise the government’s miss of the 30,000-hectare target, we want to help them and make sure the UK starts hitting that target as soon as possible and jumpstart our journey towards Net Zero. The key is to listen to the science; the CCC are the experts and they’ve set the 30,000 ha target for a reason – we need to act quickly and efficiently on their recommendation."
“To do this, our mission is to completely rewrite the rules on offsetting. We’re using a new ‘offset-as-a-service’ business model which allows landowners to generate revenue and long-term income from planting and maintaining forests. Through this approach, combined with cutting-edge technology, we’re able to sell the highest quality carbon offsets to industry, governments, and all others targeting net-zero carbon emissions."
“We need to make sure the offsets available deliver the climate impact we need as soon as possible. This is especially crucial when you consider how humanity is continuing to produce stunningly high amounts of CO2 every year; we have to increase tree-based carbon capture to compensate for the increasing emissions and extend our carbon budget."
“Of course, emissions need to be reduced regardless; we understand carbon capture is only part of the solution. But right now, it’s one of the best weapons we have in the fight against climate change, and it’s vital in buying us time and reversing the damaging effects of GHG emissions, so long as we commit to high-quality offsetting that provides genuine, transparent and scalable impact.”
So there you have it - our mission and plan to get the UK back on course for tree planting that meets the CCC’s target. If you share our vision and want to follow our journey, please make sure you spread the word, follow us, and get in touch to find out more.
