EL DORADO, AR
May 2, 2013
Finite Carbon and Potlatch Corporation today announced the successful completion and registration of the Finite Carbon – Moro Big Pine CE Improved Forest Management Early Action Offset Project. Located on 15,809 acres in south-central Arkansas, this is the nation’s first improved forest management (IFM) project completed for a publicly-traded real estate investment trust.
The Moro Big Pine forest carbon project was developed under the Climate Action Reserve forest project protocol for California’s greenhouse gas emissions trading program and received an initial issuance of 220,208 compliance-eligible carbon offsets. Finite Carbon provided all financing, development, and offset transaction support for the project which will now transition to the California Air Resources Board (ARB) forest offset protocol.
“We’re excited to work with Potlatch as it continues its legacy of innovation by incorporating forest carbon into its management approach,” said Finite Carbon President Sean Carney. “Registration of the Moro Big Pine project captures a new revenue stream in support of Potlatch’s commitment to maximize returns from its certified forestlands,” said Eric Cremers, President and Chief Operating Officer for Potlatch. “A forest carbon project on Moro Big Pine is a natural fit for Potlatch’s strategy of integrating active forest management and third-party certification. Finite Carbon’s financial investment and breadth of expertise in forest carbon project development, certification, planning, and management enabled the project to move efficiently through the entire development cycle.”
Potlatch owns and manages over 1.4 million acres across Arkansas, Idaho, and Minnesota. All Potlatch lands managed for forest products are third-party certified to the Forest Stewardship Council (FSC) standard. Potlatch began assembling the Moro Big Pine property in 1951 which now harbors Arkansas’ largest private land population of federally protected Red-cockaded woodpeckers. In 2007, the property was placed under what remains the largest conservation easement in Arkansas history and allows and promotes active forest management and public access. With the completion of the forest carbon project, the property is a showcase nationally for integrated forest, wildlife, and ecosystem value management.
“Completion of Moro Big Pine is another sign of building momentum for California’s GHG emissions trading program. It is also the third IFM project that Finite Carbon has financed and completed for the ARB program in the past eight months,” said Carney. “Moreover, these projects include the first ARB-eligible IFM projects in the nation for a land trust outside California, private TIMO, and publicly traded REIT. Collectively, these projects demonstrate the diversity of landowners integrating compliance-grade forest carbon revenue into their overall management strategy.”
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 Potlatch Corporation
Potlatch is a Real Estate Investment Trust (REIT) with approximately 1.4 million acres of timberland in Arkansas, Idaho and Minnesota. Potlatch, a verified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. For more information, visit www.potlatchcorp.com
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