Finite Carbon to launch the first web-based global platform to register carbon offsets from natural climate solutions
Finite Carbon, North America’s leading developer and supplier of forest carbon offsets, announced it will launch the first web-based global platform that enables small landowners to access the carbon offset market.
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CONTACT:
Jazmin Varela
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jvarela@finitecarbon.com
• The CORE Carbon Platform aims to deliver $1 billion to family and non-profit landowners by 2030 for the restoration, protection, and improvement of forests
• Technology removes barriers preventing small landowners from accessing the carbon market
• Finite is North America’s leading supplier of carbon offsets
Wayne, Pa., (August 24, 2020) — The platform, known as CORE Carbon, will make it possible for millions of small landowners to generate new annual income through long-term commitments to good stewardship, helping to sustain the legacy of their land for future generations.
When CORE Carbon launches in late 2020, landowners will be able to get a real-time value assessment of how much income their forestland could generate in the voluntary carbon market. The carbon market has been inaccessible to these landowners because high transaction, monitoring, and reporting costs have discouraged participation. Learn more at corecarbon.com.
If the landowner chooses to enroll their property, they will lock in multiyear payments for the resulting carbon offsets from buyers seeking to offset carbon emissions. There is no cost to landowners to use CORE Carbon.
“Good land management decisions made by millions of small landowners can directly improve their bottom lines while creating clean air and clean water for the rest of us. This platform aims to deliver $1 billion to family and non-profit landowners over the next decade, supporting folks who want to leave things better than they found them.”
Sean Carney, President, Finite Carbon
“bp has been a long-term advocate for a carbon pricing system and our investment into Finite Carbon’s parent company, Finite Resources, is testament to that. Finite Carbon is reshaping the sector, allowing access for more landowners to get paid for protecting forests. Supporting Finite’s leadership in preserving carbon sinks is just one of the ways we are reimagining energy for people and our planet, while taking action to restore, maintain, and enhance biodiversity.”
Nacho Gimenez, managing director, bp ventures
bp ventures announced a $5 million investment in Finite Resources, parent company of Finite Carbon, in 2019.
CORE Carbon’s initial protocol will make it possible for 1.2 million U.S. landowners with 40 to 5,000 acres, who control a combined 200 million acres, to quantify and receive payments for the environmental benefits of their good stewardship.
Finite Carbon is co-authoring a new methodology with the nonprofit American Carbon Registry (ACR), the world’s first private voluntary greenhouse gas registry, to provide uniform carbon offset standards designed specifically with small landowners in mind.
“Nature based solutions including forests are critical to meeting global climate targets. Providing a platform that allows small non-industrial landowners across the U.S. to be part of this solution by giving them access to carbon markets is an essential part of this goal.”
Jessica Orrego, Director of Forestry, the American Carbon Registry.
About Finite Carbon:
Finite Carbon is North America’s leading developer of forest carbon offsets. With offices in seven states, it combines unparalleled project development experience with extensive carbon market knowledge. Finite Carbon has generated over one-third of all California compliance offset supply and delivered more than $500 million to landowners. Its project portfolio includes nearly three million acres of working forestland representing every region and major forest type from the Appalachians to coastal Alaska.
About bp ventures:
• bp ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since then, bp has invested almost $700 million in technology companies across more than 31 active investments with more than 250 co-investors.
• Venturing plays a key role in bp’s strategy to tackle the dual challenge of meeting the world’s need for more energy, while at the same time reducing carbon emissions.
• bp ventures focuses on connecting and growing new energy business. It makes strategic equity investments across a portfolio of relevant technology businesses including advanced mobility, low carbon and digital.
• For more press video shots, please contact: rita.brown@bp.com