$150M from Biden-Harris Boosts Underserved Forest Owners in Climate Markets

Today, Agriculture Secretary Tom Vilsack announced the U.S. Department of Agriculture’s Forest Service is making $150 million from President Biden’s Inflation Reduction Act, the largest climate investment in history, available to help underserved and small acreage forest landowners connect to emerging voluntary climate markets. These markets can provide economic opportunities for landowners and incentivize improved forest health and management. Secretary Vilsack announced the funding opportunity at the Sustainable Forestry and African American Land Retention Conference on the heels of the one-year anniversary of the Inflation Reduction Act. This builds on investments in the President’s Bipartisan Infrastructure Law for forest health treatments, including through the creation of competitive grants to non-Federal forest landowners.

Forests are powerful tools in the fight against climate change, and emerging voluntary private-sector markets are now creating economic incentives to keep forests healthy and productive through reforestation, improved forest management, and other sustainable practices. However, high acreage requirements and prohibitive start-up costs have caused many small-acreage and underserved private forest owners to be left behind. The investments being announced today will expand access to markets that were previously out-of-reach, allowing underserved and small-acreage forest landowners to address climate change while also supporting rural economies, maintaining land ownership for future generations, and protecting private forestlands from increasing development pressure.

“Healthy, resilient forests store carbon, provide critical habitat for wildlife, and grow forest resources that are the lifeblood of communities across the country,” said Secretary Vilsack. “So much of our nation’s forest land is privately owned, and, thanks to historic resources made possible by President Biden’s Investing in America agenda, these private landowners will have an opportunity to be part of the solution to the climate crisis, no matter their background and no matter their means.”

“Working forests are the cornerstone of local economies and play a key role in mitigating the effects of climate change,” said Forest Service Chief Randy Moore. “As private forest landowners face increasing pressures to convert their forests to other uses, we are helping underserved and small acreage landowners to access new economic opportunities to ensure working forests remain intact. “Without financial incentives, underserved and small-acreage landowners may not have the resources to manage forests for long-term health and resilience. Without proper management, forests are more susceptible to pest, disease, catastrophic wildfire, loss of wildlife habitat, and reduced water quality for downstream users.”

Source: usda.gov

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