Agenda and minutes

Items
No. Item

1.

Question from: County Councillor Elwyn Vaughan Subject: Carbon trading

 

Question From:

County Councillor Elwyn Vaughan 

Subject:

Carbon trading

Question To:

County Councillor Iain McIntosh

Portfolio Holder for Economic Development, Planning & Housing and County Councillor Rosemarie Harris, Leader

 

Question:

 

In view of the increasing interest in carbon trading, and the fact that we as a authority have a important farm estate, will the council look into the potential income generation opportunities resulting from carbon trading which could be a substantial revenue opportunity for the wider benefit of the authority.

 

 

Minutes:

Response by the Portfolio Holder:

 

We certainly recognise that income from carbon trading schemes could make a substantial future contribution to the trading position of the Farms Estate and benefit the wider County Council.

 

At present the ‘Woodland Carbon Code’ (WCC) scheme is the single most advanced element of what is otherwise a market that is yet to develop (WCC is a UK government-backed scheme that certifies the potential carbon capture of newly-planted woodlands- this carbon capture can then be offered for sale as carbon credits). It is hoped and expected that an equivalent ‘Soil Carbon Code’ will be developed by Government, whereby landowners/occupiers will be able to trade the carbon captured by adjusting land use/activity to enhance soil carbon storage. The concept of ‘additionality’ is crucial – to create a marketable carbon credit, the existing land use or activity must be altered- the status quo cannot be maintained as no credit is deemed to have been created (for example, existing woodlands do not qualify for WCC).

 

Whilst no detailed analysis has been completed, the Farms Estate can be assumed to be a net emitter of carbon dioxide and greenhouse gases with sheep and beef farming as the dominant activities. This, coupled with the requirement for additionality, means that potential for the Farms Estate to generate income from carbon trading is likely to hinge on changes to farming practices and land use, particularly planting new woodland on agricultural land.

 

Potential for new woodland creation is considered when farm tenancies end and farmland comes back ‘in-hand’ and in each case we will certainly assess the scope for the land in question to generate income from carbon trading.