The U.S. Forest Service will provide up to $150 million for a project to link small-acreage and underserved forest owners with the emerging climate market, said Agriculture Secretary Tom Vilsack on Tuesday. The USDA said forest owners with small amounts of land were often fenced out of carbon markets by contracts aimed at large tracts or that posed high start-up costs.
“Healthy, resilient forests store carbon, provide critical habitat for wildlife, and grow forest resources that are the lifeblood of communities across the country,” said Vilsack. He announced the funding at the Sustainable Forestry and African American Land Retention Conference in southeastern Georgia.
In a notice on its website, the Forest Service said state and local entities, tribes, nonprofit groups, and some for-profit groups could apply for a share of up to $150 million. The money could be spent on an array of activities, such as developing strategies to overcome barriers to carbon markets, finding ways to reduce transaction costs, and helping landowners navigate market opportunities.