What you can buy

A Pending Issuance Unit is a promise to deliver a Woodland Carbon Unit in the future, based on predicted carbon removal.  

It is not guaranteed, so can’t be used to report against UK-based emissions. Pending Issuance Units help companies to plan for compensating future UK-based emissions. They also enable companies to make credible statements about supporting woodland creation.  

As Pending Issuance Units are not guaranteed, there are risks with buying them. Read our sales agreement templates and guidance for more information. 

There are millions of Pending Issuance Units available. Woodland Carbon Code projects are verified at least every ten years. If the woodland is found to be performing well at these checks, its Pending Issuance Units are converted to Woodland Carbon Units.

A Woodland Carbon Unit is a tonne of carbon dioxide equivalent which has been removed from the atmosphere by a Woodland Carbon Code project. It has been independently verified and is guaranteed.  

Companies can use Woodland Carbon Units to report against UK-based emissions or to make claims about their net zero journey. They can’t be used to compensate for overseas emissions or emissions from international aviation or shipping.  

There are currently a limited number of Woodland Carbon Units available (approximately 800). More Woodland Carbon Units will become available as woodlands grow and mature. 

It is likely that the price of Woodland Carbon Units will be higher than the price of Pending Issuance Units.

Most of our projects (78% in June 2024) have passed verification at year 5 without any major concerns. If there are concerns at verification, a project could be classed as amber or red. These projects have to provide a remedial plan. 

• Projects with an amber status (18%) delivered all carbon units in the current vintage and should be able to deliver future units as long as corrective actions are completed.
• Projects with a red status (4%) failed to deliver all carbon units in the current vintage and/or may not be able to deliver sufficient units in future vintages. They will be verified again in five rather than ten years. 

This means there is a small risk Pending Issuance Units could be cancelled. 

If you buy Woodland Carbon units, they are guaranteed by the buffer of spare credits. Each project contributes 20% of their verified units to this pool. The buffer can be used if any project loses verified credits. As a buyer, it means your verified credits and any claims you make are protected.