One significant area of financial opportunity lies in carbon offsetting, with land managers able to sell nature-based carbon credits to businesses interested in offsetting their emissions. There are currently three main options for increasing carbon sequestration: forestry creation, peatland restoration and increasing soil carbon.
“Forestry creation and peatland restoration both have accreditation schemes under the UK Woodland Carbon Code and the Peatland Code,” said Biddell. “At the moment there isn’t an agreed method for measuring soil carbon increases, but it’s an area that’s growing quickly and people are working on how to measure it.”
In 2019, there was a 30% increase in the price of nature-based carbon offsets, with prices sitting between £15 and £25 per tonne of carbon — and this is predicted to rise significantly, Biddell added.
“The Taskforce on Scaling Voluntary Carbon Markets found that voluntary carbon markets need to grow as much as 160 times if we’re to reach net-zero targets,” she said.
“It’s a question of when this market will really get going — there are definitely opportunities there for land managers,” said Biddell.