In a historic move that could change the face of forestry in Canada and even potentially the Canadian landscape, the federal government has launched a Greenhouse Gas (GHG) Offset Credit System as part of Canada’s 2030 Emissions Reduction Plan. This changes everything. Tree farming on previously unforested land, called afforestation, has suddenly become affordable. Forest companies—and landowners—will soon have the ability to begin to recuperate the cost of establishing tree farms the year after making the investment, through the sale of GHG offset credits. All that is currently lacking is the federally-developed offset protocols for forest management, which are currently being developed and presumably will be announced before 2030. And it’s about time. Trees are nature’s carbon sponges.
This presents the opportunity for both the lumber and pulp industries to co-operate on land management, sharing in the carbon offset credit revenue to help pay for the establishment of the plantation, while benefiting from additional fibre sources over a shorter time span. …There is plenty of room in Canada for both conventional crop farming and tree farming. The key is to plan strategically and aim, for example, at productive land parcels that are difficult to farm but could still generate income through the sale of carbon offset credits. Parcels as small as one hectare could still be monetized into a valuable tree farm. …If Canada wants to achieve its GHG reduction targets, it’s going to have to do a lot more than just pump carbon dioxide back into the ground… and making tree farming affordable goes a long way toward building a natural climate change solution.