$145M Boost for forest owners to fight climate change

USAgNet - 03/18/2024

The USDA Forest Service announced a nearly $145 million investment. This funding, stemming from the administrator Inflation Reduction Act, aims to integrate forest landowners into emerging climate markets, fostering environmental and economic benefits. Dr. Homer Wilkes unveiled the plan at the University of Arkansas Pine Bluff, highlighting the initiative's reach to underserved and small-acreage landowners.

Forests play a crucial role in combating climate change, offering a sustainable path through reforestation and improved management practices. However, challenges such as high acreage demands, and steep start-up costs have previously marginalized many owners. The current investment seeks to democratize access to these markets, with $116 million dedicated to 20 Forest Landowner Support projects. These projects aim to provide equitable market access, especially benefiting disadvantaged communities.

The initiative also encompasses efforts to educate and assist landowners in Arkansas with heirs’ property issues, in partnership with the Center for Heirs’ Property Preservation and UAPB. It supports the Justice40 Initiative, ensuring that 40% of federal investment benefits reach disadvantaged communities.

An additional $29 million is reserved for states and territories to develop technical assistance programs, further broadening the initiative's impact. With ongoing opportunities for new projects, this initiative marks a significant advancement in both environmental conservation and rural economic development, adhering to the broader goals of the Administration.

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