J001010 - Lycetts Newsletter Jan 2024 LR - Flipbook - Page 11
R AU SCHOL A R 2023
In 2023 we awarded a Lycetts Scholarship to Alexandra Godfrey from the Royal Agricultural
University, Cirencester. Alexandra’s research focused on the role of hedgerows within the carbon
credits market and how this potential can be leveraged, valued, and protected.
Rupert
Wailes-Fairbairn
Divisional Director,
Newcastle
Alexandra Godfrey
E X PLOR I NG
H E DGE ROW C R E DI TS
In 2022 there is an estimated half a million
miles of hedgerow in the UK marking 昀椀eld
boundaries and providing wildlife habitats,
creating another possible opportunity for
landowners interested in carbon sequestration.
However, in contrast with woodland and soil,
hedgerows have a limited presence in today’s
carbon credits market.
RAU Scholar
To leverage this potential, the research highlighted
the importance of a collaborative approach
between stakeholders, from research institutions
to regulatory bodies, to achieve an attractive,
accessible market.
Alexandra also identified some key factors which
determine a landowner’s ability to exploit their
hedgerows potential; physical location,
management ability and access to capital grants
being amongst them.
Although the amount of carbon sequestrated
by hedgerows may be lower than for woodland,
hence attracting fewer credits, the multiple
environmental benefits offered may, in the
future, allow for a process known as stacking.
Stacking enables farmers and landowners to
generate both biodiversity and carbon credits for
each of the environmental benefits a hedgerow
provides. Hedgerows improve biodiversity,
habitat preservation for endangered species,
provide shelter as well as improving soil health
and more.
Alexandra’s research found a multitude of
approaches that contribute to the protection of
both established and newly planted hedgerows.
These range from practical conservation and
restoration measures, through to policy and
regulation. The importance of a collaborative
approach became even more apparent within
this aspect of the research.
Lycetts Comment
The insurance sector, including brokers like Lycetts, has an integral role in the development of this niche
biodiversity market. Those wanting to enter and trade biodiversity units will require a comprehensive
insurance package. Weather extremes are becoming ever more common with new and evolving pest and
disease threats increasing the need for insurance cover.
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