Figure 4.3 Projected carbon sequestration of WCC projects in the UK
Figure 4.3 is a combined bar and line chart showing the total projected carbon sequestration of Woodland Carbon Code projects in the UK, over their lifetime of up to 100 years. Carbon sequestration is expressed in million tonnes of carbon dioxide equivalent. It includes the amount claimable by a project plus the amount allocated to a shared "buffer" in case of unanticipated losses. The figure is in the form of a stacked bar chart showing the projected carbon sequestration of projects registered each quarter between September 2011 and June 2016, split between projects validated, projects awaiting validation and, since March 2016, projects verified. The projected sequestration of validated projects has increased steadily in the period shown, from about 30 thousand to around 2.3 million tonnes of carbon dioxide equivalent. As of June 2016, several projects awaiting validation are expected to bring the total sequestration to around 5.8 million tonnes of carbon dioxide equivalent. Overlaid on the bar chart is a line graph plotted on a second axis showing the total number of projects, the number of projects awaiting validation, projects validated and, since March 2016, projects verified. From the launch of the Woodland Carbon Code scheme in 2011 until March 2014 there was a steady increase in the total number of projects. The trend then stabilised, before rising again more recently. The number of projects validated has increased over the entire time period. The number of projects awaiting validation increased until March 2014, after which the number of projects awaiting validation has decreased and then stabilised as the rate of validation was higher than the rate of registration of new projects.