The California Carbon Offset Market is starting to move. Just last month, The Land Investor reported the completion of a 500,000 Tonne Carbon Offset Sale by The Forestland Group to Royal Dutch Shell. Today Blue Source and The National Audubon Society announced the registration of the Beidler Improved Forest Management Project.
A legally binding conservation easement precludes the harvesting of timber on 5500+ acres in the tidewater region of South Carolina (Beidler project area), ensuring the carbon represented in the forest will stay sequestered. The Beidler deal resulted in the registration of 474,735 Climate Reserve Tonnes (CRTs) with the Climate Action Reserve and carbon offset sales provides the funding to ensure the protection of Beidler Forest well into the future.
Following is the Blue Source/Audubon Society press release covering this important transaction.
April 16, 2013
Blue Source and The Audubon Society Register 475,000 Tonne Improved Forest Management Project Eligible for the California Carbon Offset Market
San Francisco, CA and Harleyville, SC – Blue Source and The National Audubon Society today announced the registration of the Blue Source–Beidler Improved Forest Management Project (Beidler). Located on 5,548 acres in the tidewater region of the South Carolina, the project has registered 474,735 Climate Reserve Tonnes (CRTs) with the Climate Action Reserve (CAR). Blue Source expects to transition these early action offset credits to the California Air Resources Board (ARB) compliance program in the coming months.
A legally binding perpetual conservation easement prevents the harvesting of timber within the Beidler project area, thereby guaranteeing that the carbon represented in the forest will remain sequestered. The execution of the project represents a commitment by Audubon to protect the property’s commercially valuable old growth stands in perpetuity for the benefit of the wide variety of rare flora and fauna that live there and the welfare of the climate system.
“The registration of this project signifies continued momentum in the forest carbon market and the ability for the California regulatory program to enable a new brand of conservation finance,” said Roger Williams, Blue Source’s President. The Beidler project, Audubon’s first carbon initiative, is the largest registered Improved Forest Management (IFM) volume outside of California registered on the Climate Action Reserve. “This project will take carbon out of the air, where it is harmful, and lock it up in the trees of our own forest, where it will be beneficial and safe,” said Norman Brunswig, executive director of Audubon South Carolina. “And by selling carbon offsets, this project will provide funding needed to protect Beidler Forest for a long time to come. These outcomes make the clearest possible statement about Audubon’s commitment to protecting habitat and reducing the effects of climate change.”
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 contact Roger Williams at 415.399.9101 or firstname.lastname@example.org.
About The National Audubon Society
Now in its second century, Audubon connects people with birds, nature and the environment that supports us all. Audubon’s national network of community-based nature centers, wildlife sanctuaries, chapters, scientific, education, and advocacy programs engages millions of people from all walks of life in conservation action to protect and restore the natural world. Visit Audubon online at www.audubon.org.