Limited support for forest conservation and restoration leads to a chronic shortfall in the funds needed to grow and maintain thriving, climate-resilient forests. Innovative funding mechanisms can go a long way to closing this gap.
City Forest Credits
Seattle-based nonprofit City Forest Credits issues third-party verified carbon+ credits derived from tree planting and preservation projects in urban areas.
Companies are able to buy credits from high-value urban planting projects that uniquely quantify carbon, rainfall interception, air pollution and energy savings, and which are certified to align with corporate social and environmental responsibility goals.
Those selling the credits are typically urban forestry organizations or local governments, which use the proceeds to advance urban forestry programs.
Forest Management Tax Credits for Private Landowners
Managing a forest well takes money for activities such as collecting seedlings, growing climate-resilient trees and buying equipment for environmentally-friendly maintenance. Most private forestland owners do not have funding for this, which translates to subpar management and reduced carbon sequestration abilities.
One way to generate funding for forest management is to offer landowners a tax credit for conserving forests on their lands. Just such a solution is part of the agriculture and forestry strategy being created by the U.S. Department of Agriculture, and is included in the Growing Climate Solutions Act that is currently being considered by the U.S. Congress.