January 6, 2015
On behalf of The Forestland Group (TFG), forest carbon offset developer Finite Carbon successfully registered TFG’s Champion and Connecticut Lakes Improved Forest Management Projects with the California Air Resources Board (ARB) compliance offset program for US forests.
Located on 102,899 acres in New York’s Adirondack Mountains, the Champion Project was first registered with the Climate Action Reserve in January 2013 and project offsets were transitioned to the ARB program on November 17, 2014. Registered through the American Carbon Registry, the 141,062 acre Connecticut Lakes Project in northern New Hampshire was developed directly to California’s ARB compliance offset program and approved for offset issuance on December 24, 2014. By selling carbon offsets in the California cap-and-trade program, the properties will be managed for both increased carbon sequestration and sustainable timber production.
Finite Carbon managed all aspects of project development and provided transaction and sales support for both the Champion and Connecticut Lakes Projects which received 136,297 and 1,165,601 compliance offsets upon registration, respectively. Together, the projects generated nearly $12 million in carbon offset revenue for TFG’s long-term commitments to sustainable forestry. “TFG was an early adopter of innovative conservation strategies such as forest certification and working forest conservation easements,” said Finite Carbon President Sean Carney. “We are proud to help TFG integrate carbon revenue into their forest management strategies and investment portfolio.”
“IFM carbon projects on actively managed forests are complex. In TFG’s experience, project efficiency and offset delivery are linked to developer experience,” said Kaarsten Turner Dalby, VP of Ecological Services for TFG. “We selected Finite Carbon as our forest carbon partner because of its deep forest and carbon finance expertise and best-in-class experience moving projects through the entire development and sales process. Finite Carbon worked with us to develop projects that fully align carbon with our overall forest management strategy, increase healthy forest conditions, and optimize our return on investment.” On behalf of its investors, TFG owns and manages over 3.4 million acres across the United States certified under the Forest Stewardship Council standard.
“Forest carbon is a new asset class for forest owners of all types and the value of carbon is now comparable with some conventional wood products,” continued Carney. “The ability to monetize carbon is a now a real opportunity for landowners to diversify forest management returns while improving and maintaining sustainable forest conditions.” To date, Finite Carbon has registered four California ARB compliance forest offset projects and has another 11 under development for a diverse group of US forest landowners including TIMOs, REITs, Indian Tribes, corporate and private family owners, land trusts, and other non-profits.
About Finite Carbon
With 15 contracted California compliance projects on nearly 700,000 acres of US forestlands, Finite Carbon is America’s leading developer and supplier of forest carbon offsets. 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. Finite Carbon’s clients include TIMOs, REITs, Indian Tribes, corporate and private family owners, land trusts, and other non-profits. To date, Finite Carbon has transacted 3.25 million California compliance forest offsets and its project portfolio exceeds 10 million compliance forest offsets through 2020. Headquartered in Philadelphia, PA and with offices in the West, Southeast, and Northeast, Finite Carbon is led by a team of five professional foresters with deep experience in offset protocol design, forest inventory, management, growth and yield modeling, project verification, offset transactions, forest certification, and working forest conservation easements. 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, see www.forestlandgroup.com
Click here to view and download a pdf version of the press release.