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Blue Source, The Forestland Group and Shell Complete 500,000 Tonne Carbon Offset Sale

The announcement of the 500,000-tonne carbon offset sale by Blue Source and The Forestland Group to Royal Dutch Shell is an important transaction to gain attention from landowners and land managers nationwide.  Carbon markets and other ecosystem service schemes such as wetland mitigation banking and conservation (biodiversity banking) are an integral part of the new economy and represent exciting opportunities for landowners/managers to diversify and increase financial returns from the land beyond traditional forestry, farming, ranching and extractive endeavors.

Blue Source, The Forestland Group and Shell Complete 500,000 Tonne Carbon Offset Sale

March 15, 2013, San Francisco, CA and Chapel Hill, NC  Blue Source and The Forestland Group (TFG) today announced a 500,000 tonne carbon offset sale from the Blue Source-Bishop Improved Forest Management Project located on TFG-managed properties in Michigan’s upper peninsula.  The offsets will be sold to Shell Energy North America (US), L.P. (Shell Energy), a subsidiary of Royal Dutch Shell (Shell) after being verified to the California Air Resources Board’s methodology for forest carbon projects.  The transaction represents a significant step in carbon market development since actions from large compliance entities like Shell are necessary to help spur investment in greenhouse gas reduction projects.  Moreover, the Bishop property consists of over 200,000 acres owned by a Timberland Investment Management Organization (TIMO), making it one of the largest and most unique offset projects in development for the California program. 

 “This is a case of three individual companies each demonstrating leadership and collectively proving out the concept of the compliance carbon market,” said Kevin Townsend, Blue Source’s Chief Commercial Officer.  “The Forestland Group is committing to long term, sustainable forestry, Shell Energy is playing an incredibly important role by committing to a large purchase early in the project’s life, and Blue Source is investing significant financial and human capital developing a project of this unprecedented scope.  Together these efforts send a clear message to California companies covered by cap and trade as well as landowners nationwide that carbon markets actually work and provide meaningful incentives for emission reductions.”

About Blue Source, LLC

For the last 12 years, Blue Source has helped shape the North American carbon markets through its leadership in over 200 projects, first-of-kind forestry projects, precedent-setting emission reduction sales and world class consulting and technical services. Blue Source’s deep forestry expertise and proven success in carbon marketing uniquely position the Company as a leader in the California compliance markets, having listed and registered more forest carbon projects on the Climate Action Reserve than any other company.  Blue Source is helping forest owners, land trusts and TIMOs understand and engage in the carbon economy through project development, emission reduction sales, engineering, financing and consulting services. With projects in the United States, Canada, Central America and Africa,  Blue Source reduces greenhouse gases across over 20 different project types, including forestry, forest products, waste and methane management, agriculture, oil & gas, transportation and energy efficiency, and can be found on all of North America’s leading offset registries. Blue Source also specializes in helping companies structure a variety of offset purchases for voluntary, pre-compliance and compliance purposes. For more information visit: www.bluesource.com.

About The Forestland Group, LLC

 Forestland Group, LLC (“TFG”), formed in 1995, is an independent timberland investment management organization (“TIMO”) which emphasizes naturally regenerating hardwood and some softwood forests. TFG currently manages approximately 3.4 million acres in 20 U.S. states as well as in Belize, Canada, and Costa Rica. The firm manages its investments through a series of limited partnerships and private REITs with a mix of both institutional and high-net-worth investors encompassing some 130 different entities. Headquartered in Chapel Hill, North Carolina, TFG has a corporate office near Boston and an array of 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 CouncilTM FSC® C018151 guidelines. For more information visit: www.forestlandgroup.com.

 

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