January 2, 2013
Finite Carbon, the forest carbon development company that provides a single-source solution for creating and monetizing carbon offsets, successfully developed and registered the Champion Forest Carbon Project on behalf of The Forestland Group (TFG) on December 28, 2012.
Located on 102,899 acres in New York’s Adirondack Mountains, the Champion project is the first improved forest management (IFM) project completed for a timber investment management organization (TIMO) and the largest project to date for California’s forthcoming greenhouse gas emissions trading program. By partnering with Finite Carbon, TFG will realize a new source of revenue from its sustainably managed forestlands.
TFG and Finite Carbon anticipate transitioning the project to California’s compliance program under the Air Resources Board (ARB). Finite Carbon provided all development and offset transaction support for the project which received an initial issuance of nearly 100,000 compliance-eligible carbon offsets.
“The Forestland Group was an early adopter of innovative conservation strategies such as forest certification and working forest conservation easements,” said Finite Carbon President Sean Carney, who noted the project is one of several currently under development for institutional investors that Finite Carbon has listed with the Climate Action Reserve. “We are proud to help The Forestland Group integrate carbon into their overall forest management approach.”
Said Kaarsten Turner Dalby, VP of Ecological Services for TFG, “We selected Finite Carbon to develop the Champion project because of their deep forest and carbon finance expertise. IFM carbon projects have a high degree of complexity and Finite Carbon worked with us to develop a project that integrates carbon into our overall forest management strategy, increases healthy forest conditions, and optimizes our return on investment.”
TFG owns and manages over 3.4 million acres across the United States. Purchased in 1999, the Champion property was placed under an easement that allows and promotes active forest management, but restricts harvesting to growth. By harvesting less than growth, TFG is now able to allocate a portion of the forest carbon that would have gone to conventional wood product into carbon offsets. “Before our purchase, the Champion property had been intensively managed solely for conventional wood products. By incorporating carbon markets into our timber harvest and growth appreciation strategies, we can increase total returns while maintaining the productive capacity of the forest,” noted Turner Dalby. TFGs commitment to the carbon project will result in increased forest carbon stocks that will be sequestered and maintained for over 100 years.
“Forest carbon is a new asset class for forest owners and carbon offset prices are now comparable with some conventional wood products,” said Carney. “Maintaining forest product revenues in a volatile economy continues to be a challenging proposition for owners of forestland of all sizes. The ability to monetize carbon is a now a real opportunity to diversify forest management returns for forest owners seeking to improve and maintain sustainable forest conditions.”
About Finite Carbon Corporation
Finite Carbon is America’s leading developer of forest carbon offsets. Combining unparalleled project development experience with extensive carbon market knowledge, Finite Carbon’s in-house team of forest carbon experts offers a single-source solution for creating and monetizing carbon offsets and the most comprehensive forest carbon project development and commercialization service in the US. The company is headquartered in Wayne, PA, and has offices in San Francisco, CA, Cherry Creek, NY, Murfreesboro, TN, and Tallahassee, FL. For more information, visit www.finitecarbon.com
About The Forestland Group
Formed in 1995, The Forestland Group is a timberland investment management organization which emphasizes naturally regenerating hardwood and softwood forests. TFG currently manages 3.4 million acres in 20 U.S. states as well as in Belize, Canada, and Costa Rica. Headquartered in Chapel Hill, North Carolina, TFG maintains forest management offices near its land bases. TFG was a pioneering TIMO with respect to managing its portfolio as a Certified Resource Manager under the Forest Stewardship Council FSC guidelines. For more information, visit www.forestlandgroup.com
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