PINE BLUFF — The U.S. Department of Agriculture announced that the USDA Forest Service is investing nearly $145 million from President Biden’s Inflation Reduction Act—the largest climate investment in history—to connect forest landowners with emerging climate markets as part of the Investing in America agenda.
USDA’s Under Secretary for Natural Resources and Environment, Dr. Homer Wilkes, made the announcement at the Rural Life Conference at the University of Arkansas Pine Bluff (UAPB), which is receiving nearly $3.2 million thanks to funding from today’s announcement.
“The Biden-Harris Administration understands that private landowners are key in the fight for climate resilience and forest health,” said Agriculture Secretary Tom Vilsack. “These investments 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 and maintaining land ownership for future generations.”
Forests are powerful tools in the fight against climate change, and emerging private-sector climate markets create economic incentives to keep forests healthy and productive through reforestation, improved forest management and other sustainable practices. These markets can allow outside investment to reach private landowners for long-term land management. Despite these opportunities, factors including high acreage requirements and prohibitive start-up costs have caused many small-acreage and underserved private forest owners to be left behind.
$116 million from the funds being announced is for 20 Forest Landowner Support projects to provide equitable access to these emerging markets. Many of the awardees represent or will support underserved landowners located in or providing benefits to disadvantaged communities.