A Carbon Source, Sink and Store: Explaining Soil Carbon
A Carbon Source, Sink and Store There is a lot of confusion surrounding terms such as ‘carbon sink’, ‘carbon store’ and ‘carbon source’. This article gets clear on carbon.Read more
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.