17 August 2021
McCann FitzGerald Advises Bank of Ireland and Coillte Nature on the creation and development of Woodland Nature Credit
We are delighted to have advised Bank of Ireland and Coillte Nature on the creation and development of a new Woodland Nature funding scheme which, through the issuance of Woodland Nature Credits, creates a link between the funders of new woodland projects located in Ireland and the environmental and social benefits that accrue from those projects.
This nature based funding solution for large scale non-commercial afforestation projects allows corporates to calculate the impact of woodland projects they are funding, including in terms of carbon sequestration, enhanced biodiversity and through the creation of a public amenity. It is intended that the woodland nature projects will be implemented in line with the detailed and science-based criteria developed for afforestation projects in delegated acts issued under the Taxonomy Regulation (Regulation (EU) 2020/852).