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Agricultural land in England is under threat of being taken over by large corporations in the name of fighting climate change, according to the UK’s farming minister.
Mark Spencer, in an interview with the Financial Times, expressed concern over the conversion of farmland into tree planting and other carbon offset schemes for the purpose of corporate “greenwashing.”
Spencer stated, “We need to be cautious about the use of land and not allow this type of greenwashing. If we’re not careful, companies like Shell and British Airways could buy up all the land in England and simply use it for tree planting to offset their carbon emissions.”
Land agents have seen an increase in buyers seeking land for rewilding, tree planting, and other environmental initiatives as companies strive to meet their net zero emissions objectives through the purchase of carbon offsets.
Each offset or credit represents the avoidance or removal of one tonne of carbon dioxide emissions and is acquired through investments in environmental restoration and protection.
Oil and gas companies, airlines, and car manufacturers are among the largest users of carbon offsets.
However, the carbon offset market is facing greater scrutiny, with climate activists and researchers arguing that the counting systems are not accurate enough and that many projects do not effectively remove carbon from the atmosphere.
Spencer commented, “Clearly, that’s not the outcome we want. That’s not the model we’ve created,” referring to the sale of agricultural land for carbon offset schemes. He added that the government has the means to prevent the system from being exploited.
In March, the government published a Nature Markets framework, which aims to increase private finance for nature while ensuring the integrity of these markets and avoiding negative effects.
To meet its net zero targets, the government’s climate advisers have stated that the UK will need to increase its forest cover from 13 to 17 percent by 2050.
Industry and environmental groups have cautioned that farmers, who are already struggling with rising input costs, could be enticed to sell their land instead of using it for food production.
Tom Bradshaw, the Deputy President of the National Farmers’ Union, stated, “We must ensure that farmland isn’t permanently taken out of production and continues to provide food, fiber, and energy for the nation.”
A report by the environmental think-tank Green Alliance earlier this year highlighted the risks farmers face due to the phasing out of subsidies provided under the EU’s Common Agricultural Policy. It warned of farm insolvencies and the consolidation of smaller farms.
Land plots in Wales and Scotland have already been sold for tree-planting initiatives.
Last year, the Welsh Affairs Committee called for greater transparency and regulation in the sale of viable farmland for carbon offsetting, raising concerns about farmers being priced out.
According to Carter Jonas, the average value of arable land in England and Wales rose by 6.4 percent to £9,517 per acre in the year to June. The supply of new farmland is currently at a historic low, 29 percent below the 10-year average in the three months to June, according to the estate agent.
Andrew Chandler, a partner at Carter Jonas, stated that it is still “early days for an emerging market,” but there is demand from buyers.
British Airways stated that it has never purchased land for tree planting to offset its emissions and that the carbon offset projects it invests in are of high quality and fully verified.
Shell stated that “carbon credits are an important method of helping compensate for carbon emissions that come from the production of many things and their use, including by Mr. Spencer,” and that the company has no intention of doing as he suggests.
Climate Capital
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.