The government has this week (Monday November 4) launched a £50 million scheme to help boost tree-planting rates in the fight against climate change.

The new Woodland Carbon Guarantee will encourage farmers and landowners to plant more trees and create new woodland in return for payments as those trees grow.

It gives land managers in England the long-term financial income they need to invest in carbon sequestration - the process by which trees lock up and store carbon from the atmosphere.

Successful participants will be offered the option to sell Woodland Carbon Units to the government over 35 years at a guaranteed price set by auction, providing new income for land managers who help businesses compensate for their carbon emissions.

Forestry and climate adaptation minister Zac Goldsmith said: "Woodland creation is an excellent way to help combat the effects of climate change.

"By supporting farmers and land managers who decide to invest in tree-planting, we are making sure we tackle climate change through nature-based solutions and – as part of our 25 Year Environment Plan - help leave the environment in a better state than we found it."

Sir Harry Studholme, chair of the Forestry Commission, said:

"The Woodland Carbon Guarantee is an innovative new financial incentive for the mitigation of carbon dioxide emissions. By underpinning the carbon price I hope it will give confidence to landowners and investors, and encourage the planting of the right kind of trees at a viable scale. I am delighted that the Forestry Commission has been able to work with Defra to launch the scheme."

To apply for the Woodland Carbon Guarantee, land managers need to register their projects with the Woodland Carbon Code.

READ MORE: Land is in demand to create woodland for carbon offsetting