The Scottish Government’s Carbon Sequestration Policies and Their Impact on Inequality
Scottish Government policies to support carbon sequestration, mainly through creating new woodlands and using carbon credits, will have a significant role in a Net Zero economy. Carbon sequestration and carbon credits can be seen as a two-fold policy strategy to encourage investment in Scotland’s natural capital as part of a Just Transition.
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Scotland plants more trees than any other nation on the British Isles. Its woodlands already create the majority of UK-based carbon credits. The increase in forest cover and carbon credits are facilitated by the Scottish Government’s direct financial support for woodland creation, which is significantly more than the other nations in the British Isles and above the European Union average.
The Scottish Government’s approach is likely to increase inequality in both income and wealth as the benefits of this two-fold approach are felt mainly by companies and individuals who already own large tracks or land or can purchase land in an increasingly competitive market.
Welcome to Scotonomics Channel! In this thought-provoking episode, we delve deep into the intricate world of carbon markets and compliance mechanisms. Join William as he dissects the complexities surrounding carbon pricing, emissions trading, and their implications for addressing climate change.
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