CarbonStore Plays Integral Role in Successful PIU Purchase

CarbonStore is delighted to announce the purchase of 8,000 Pending Issuance Units (PIUs)

Fourth Woodland Carbon Guarantee auction dates announced

£10m available from the scheme’s £50m pot for farmers and land managers to create new woodlands to help tackle the effects of climate change. The scheme gives land managers the option to sell Woodland Carbon Units (the carbon captured once the trees have grown), to the government at a guaranteed price protected against inflation. The […]

Creating Woodlands For Cash, Carbon and Conservation in England

Head of CarbonStore David McCulloch Joins Panel Free Webinar: Tuesday June 22nd – 11am Tilhill, the UK’s leading forestry management company announces the latest in a series of free webinars. The webinar on 22 June will focus on exploring the new funding offer for woodland creation in England. The webinar will take farmers, landowners and […]

Woodland Carbon Update – May 2021

We see signs of infancy across all carbon markets, including the one for woodland carbon. The absence of pricing transparency, which we are keen to rectify, is the most obvious symptom. Meantime, we continue to work hard to address others which we feel are important steps to ensure the healthy development of the market so […]

FCCWG Webinar -The Importance of Carbon in a Climate Emergency

The Forestry & Climate Change Working Group with CarbonStore The Forestry Climate Change Working Group (FCCWG) present this Workshop Webinar; a free online workshop for forestry practitioners exploring the importance of carbon in a climate emergency. As a result of the UK’s commitment to becoming a Net Zero economy by 2050, carbon sequestration is likely […]

Woodland Carbon Update – March 2021

The outlook for the woodland carbon market appears encouraging. Its regulatory standard, the Woodland Carbon Code, has used the lockdown gainfully to update its rules and guidelines, expand its capacity and widen its recognition among both landowners and companies. With the UK now (slowly) emerging from the lockdown, pressure for a ‘green recovery’ is growing. […]

Creating Woodlands for Cash, Carbon & Conservation Webinar

Head of CarbonStore David McCulloch joined Tilhill for this informative webinar entitled ‘Creating Woodlands for Cash, Carbon & Conservation’ – Scotland which included three onsite interviews. David answered all carbon related questions from landowners, farmers and industry professionals. Watch the full recording covering: The landowner’s objectives Evaluating the land and farm potential How agriculture can […]

The Importance of Carbon in a Climate Emergency

Free workshop: Tuesday 20th April 11am The Forestry Climate Change Working Group is delighted to announce the launch of a free online workshop for forestry practitioners and will explore the importance of carbon in a climate emergency. As a result of the UK’s commitment to becoming a Net Zero economy by 2050, carbon sequestration is […]

Woodland Carbon Update – Feb 2021

The UK’s woodland carbon market is evolving rapidly. Preliminary enquiries, more substantive indications of interest in buying PIUs, and firm orders for them from companies have all picked up markedly through January and early- February. Similarly, woodland owners are quickly recognising the opportunities from selling their woodland-generated carbon credits. The number of schemes being registered […]

World Wetlands Day – Restoring a globally important habitat

Forestry and Land Scotland’s (FLS) ongoing work to restore a globally important habitat is being celebrated as part of World Wetlands Day (2 Feb). Blanket bog is a type of habitat found on peatland soils in cool, wet upland areas in maritime climates. It covers 23 per cent of Scotland’s land area and is rarely […]

CarbonStore Plays Integral Role in Successful PIU Purchase

29 June 2021

CarbonStore is delighted to announce the purchase of 8,000 Pending Issuance Units (PIUs) for Selco Builders Warehouse from the owner of a newly planted, 100-acre woodland in the Scottish Borders. CarbonStore was the unifying partner between the two parties and was integral to making the transaction happen. This transaction represents an important milestone in the evolution of the market for woodland-based carbon offsets across the UK.

Together, Selco and the woodland owner agreed a fair, appropriate, and transparent price for the woodland carbon credits that incentivised the landowner to proceed with planting and encouraged Selco to take that important step forward in its net zero ambitions.

The agreement also secured important access and signage rights at the woodland for Selco whose purchase of these woodland carbon credits is a beacon of good environmental practice in the construction industry. Recognising this, the woodland’s owner was willing to grant Selco all the rights necessary for them to promote their industry-leading efforts.

The legal contract signed by Selco and the woodland’s owner represents the most robust and comprehensive contract yet agreed between a seller and a buyer of woodland carbon credits in the UK. These were provided by CarbonStore, and fairly apportion the liabilities associated with PIUs whilst clearly outlining each parties’ rights and responsibilities.

Finally, the PIUs were registered and validated by the Woodland Carbon Code. Being backed by the UK government and endorsed by the International Carbon Reduction and Offset Alliance (ICROA), the Woodland Carbon Code’s credentials are formidable. Accordingly, CarbonStore, Selco, and the woodland’s owner are all operating under internationally recognised offsetting standards.

“This is a highly significant moment for woodland owners and companies seeking to capitalise on the opportunities provided by the Woodland Carbon Code,” said David McCulloch, the head of CarbonStore. “Through this transaction, we have proven our ability to secure a fair, transparent price for woodland carbon credits that encourages landowners to plant trees and companies to mitigate their emissions without any intermediary distorting these costs and benefits. Moreover, this transaction is supported by the most robust and thorough legal agreement currently available in the industry. Going forwards, this type of agreement will be vital when arranging woodland-generated carbon offset transactions.”

If your company is looking to take the next step towards your net zero ambitions through the purchasing of carbon units, get in touch.

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Pending Issuance Unit: A promise to deliver a Woodland Carbon Unit during a given period, based on the trees’ predicted growth Woodland Carbon Unit: A ton of carbon dioxide which has been sequestered in a scheme verified under the Woodland Carbon Code
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