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Woodland Carbon Code Celebrates Second Year Of Achievement
6 AUGUST 2013NEWS RELEASE No: 16028 Woodland Carbon Code celebrates second year of achievement The Woodland Carbon Code, a voluntary UK standard which ensures that ‘carbon forestry’ projects really do achieve the carbon benefits they claim, has passed its second anniversary with an impressive number of achievements. Increasing numbers of people and organisations are seeking opportunities to invest in tree and woodland planting to help tackle climate change and compensate for their unavoidable carbon emissions to the atmosphere. Validation of such tree-planting projects under the Code ensures that they meet stringent requirements for sustainable woodland management and carbon accounting, and provides an assurance to investors. Achievements during the Code’s first two year of operation include: a total of 133 projects covering 14,200 hectares (35,000 acres) have been registered under the Code. (Registration is a notice of intention to seek validation); the amount of carbon dioxide predicted to be removed from the atmosphere by registered projects has passed 5 million tonnes; 42 of the 133 registered projects have completed audits and been independently validated as conforming to the standards of the Code, meaning that the carbon sequestration claims and other aspects of the project have been checked and confirmed; a scheme to allow groups of woodland projects to come together for validation has been successfully piloted and is now open to applicants, making the process more cost effective for smaller projects; the Code was recently launched on the Markit Environmental Registry, bringing enhanced accountability and transparency to the developing forest carbon market in the UK; and, an updated version of the Code has been published, addressing lessons learned from practical experience since the Code was launched in 2011. Dr Pat Snowdon, Head of the Economics and Climate Change Unit at the Forestry Commission, which administers the Code, said “It’s been another strong year of growth and achievement for the Woodland Carbon Code. It continues to offer credible assurance to investors that the woodlands they invest in will deliver the carbon dioxide emissions abatement ascribed to them, while also providing other environmental and social benefits. “Investing in woodland creation provides companies and individuals with a tangible means of demonstrating how they are reducing their carbon footprint. From October this year UK-quoted companies will be required to report their gross carbon dioxide emissions. The Government’s Environmental Reporting Guidelines also enable any company to report the benefits of its investment in carbon sequestration through Woodland Carbon Code-validated projects.” Further information is available at www.forestry.gov.uk/carboncode . NOTES TO EDITOR: Carbon dioxide (CO 2 ) is the most common of the greenhouse gases causing the atmospheric warming which is changing Earth’s climate. Growing trees sequester, or absorb, CO 2 from the atmosphere, and use carbon atoms to form wood while emitting oxygen back to the atmosphere. Projects can only be validated under the Code if they meet its rigorous requirements for sound forest management, sustainability and carbon ‘accounting’. It was launched in 2011, and uses independent auditing companies approved by the UK Accreditation Service to audit project proposals. ‘Registration’ of a proposed planting project under the Code is the first step towards ‘validation’. Once registered, the proposal is audited against the standards set down by the Code, and if it satisfies the requirements it is ‘validated’. Projects must subsequently be ‘verified’ at least every 10 years to check that targets are being met. Validation provides evidence of the quality of the proposal, not only in carbon terms, but also in sustainable forest management terms, and is critical for attracting investors. Woodland established under the Code must attain high standards of forest management in line with the UK Forestry Standard (UKFS) and its supporting guideline on Climate Change. The UKFS sets out the government vision of sustainable forest management, and is the ‘yardstick’ used by all four governments in the UK when assessing applications for forestry grants, tree felling licences and approvals of forest design plans. See www.forestry.gov.uk/ukfs . The 5 million tonnes of CO 2 registered will be removed from the atmosphere over the next 100 years. The woodlands should actually sequester significantly more than this over their lifetime, but a proportion is set aside as a ‘buffer’ in case of future losses of woodland (and carbon) caused by wind, fire, pests or disease. CO 2 sequestered, or absorbed, by WCC-validated woodlands in the UK can be traded, and entry on the Markit Environment Registry enables changes of ownership of each tonne to be tracked. The registry also records when projects are registered and credits are listed, and when carbon units have been “used” by a company in its carbon account. See www.markit.com . About 13 per cent of the UK’s land area is covered by woodland, which is more than double the woodland cover of 100 years ago. The European Union average is 37 per cent. MEDIA CONTACT: Charlton Clark, 0131 314 6500 Continue reading
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GIB Invests £20 Million In Biomass
30 July 2013 by Emma Leedham See an enlarged version of this infographic The construction of a wood-fuelled combined heat and power (CHP) station in Londonderry, Northern Ireland, was given the go ahead yesterday (29 July), after the Foresight Group and the UK Green Investment Bank plc (GIB) invested £20 million into the £81 million project. The investment has enabled the Evermore Renewable Energy CHP to be built on a ten-acre site at the Londonderry Port and Harbour Commissioners land at Lisahally. The project is forecast to be the largest renewable energy project in Northern Ireland, and is expected to operate from 2015 to 2035. According to the GIB, the 15.8 megawatt project – its first investment in Northern Ireland – will increase renewable electricity generation in the country by around 10 per cent, and deliver a reduction in greenhouse gas emissions of around 3.7 million tonnes. Partner funders include GCP Infrastructure Fund Ltd, Burmeister & Wain Scandinavian Contractor A/S (BWSC), Investec Bank, and Eksport Kredit Fonden. Project details The CHP project, led by Evermore Renewable Energy (a subsidiary of the Evermore Group, founded in 2009) aims to supply enough renewable electricity to power more than 25,000 homes each year, create 200 construction jobs and over 20 full time jobs once in operation. Speaking of the project, Ciaran and Stephen Devine, co-founders of the Evermore Group commented: “We are making a serious commitment to the Northern Ireland energy market. Working with the best partners in technology, fuel supply and financing, we hope to show that Northern Ireland is a great place to do business so that further inward investment will follow. “This is the culmination of many years of hard work to develop and finance the largest green energy power station in Northern Ireland. Our ability to attract this level of investment into Northern Ireland is testament to our team’s commitment and skill in both project development and project financing. This now marks the start of the construction phase and with that the creation of over 200 much needed construction jobs in the North West.” They added that work should begin on the project in the ‘next six to eight weeks’. ‘Landmark moment’ for GIB Speaking of the investment, Shaun Kingsbury, Chief Executive of the UK Green Investment Bank, said: “[This] announcement will substantially increase Northern Ireland’s renewable energy capacity. Not only will the project save the same amount of carbon as taking around 77,000 cars off the road, it will also make use of over two million tonnes of wood, a valuable energy resource that would otherwise have gone to landfill.” The recycled wood (largely recovered from the construction and demolition industry) will be supplied under a fuel contract with Stobart Biomass Products Limited. Provision is being made to use up to 30 per cent of local wood biomass. Business Secretary Vince Cable said: “The first deal done in Northern Ireland is a landmark moment for the UK Green Investment Bank and I’m confident that there will be more to come.” Northern Ireland’s Energy Minister Arlene Foster added: “The Evermore plant will make an important contribution towards Northern Ireland’s 2020 renewable energy targets. “It is a wonderful example of local, national and international co-operation and I am particularly pleased to note that this is the first Northern Ireland project to secure funding from the Green Investment Bank.” The investment comes from the UK Waste Resources & Energy Fund (UKWREI), managed by investment management company Foresight, in which the GIB is the cornerstone investor. L aunched in November 2012 , the Green Investment Bank was given £3.8 billion of funding from the UK Government to support environmentally-friendly projects that cannot obtain sufficient funding from the markets. The GIB provides investment for renewable and low-carbon technologies such as offshore wind, energy from waste, non-domestic energy efficiency as well as biofuels for transport, biomass power, carbon capture and storage, marine energy and renewable heat projects. ‘Temporary solution’ Despite the GIB investment, Secretary of State for Energy Security Edward Davey has previously told the BBC that biomass was a temporary solution to meet climate targets while renewable energy systems were being developed. Indeed, government recently announced that grants for existing biomass plants are being capped at 400 megawatts (MW), and that there will be no renewable heat incentive (RHI) tariffs for new biomass plants. “Making electricity from biomass based on imported wood is not a long-term answer to our energy needs – I am quite clear about that”, he said. Biomass ‘dirtier than coal’ Biomass has been a controversial choice of renewable energy, with a joint report by the Royal Society for the Protection of Birds (RSPB), Friends of the Earth and Greenpeace, titled ‘ Dirtier than Coal ‘ , suggesting that biomass derived from virgin wood may be more polluting than coal. Indeed, the government’s own statistics suggest that burning whole trees can result in 49 per cent more emissions than burning coal. Harry Huyton, RSPB Head of Climate Policy, explained: “When trees are burnt in power stations, CO2 [carbon dioxide] comes out of the chimney, just like it does when you burn coal. The difference is that the wood is less energy dense and is wetter than coal, so it takes a lot more energy to harvest, transport, process, and finally burn it. “Government has justified burning trees in power stations by claiming the chimney emissions are offset by the carbon that the forest takes in when it regrows after being harvested, but this is misleading. It can take decades, if not centuries, for the trees to recapture that carbon, leaving us with more emissions in the atmosphere now – when we least need it.” Continue reading
