Downeast Lakes Land Trust and Finite Carbon Register the First Improved Forest Management Carbon Project Outside California with the Climate Action Reserve.
The carbon project on 19,118 acres in eastern Maine was registered this week with the Climate Action Reserve (CAR) as an improved forest management project under the CAR Forest Project Protocol 3.2. Improved forest management projects maintain or increase forest carbon stocks above the level expected under typical commercial forest management.
The trust began evaluating its potential to participate in the carbon market in 2009, and entered a partnership with Finite Carbon in 2010. Finite Carbon Corporation is a forest carbon development company that partners with landowners to create and monetize carbon offsets.
Downeast Lakes Land Trust and Finite Carbon anticipate transitioning the project to California’s forthcoming greenhouse gas cap-and-trade program under the Air Resources Board (ARB). The project received an initial issuance of nearly 200,000 compliance-eligible carbon offsets. Downeast Lakes Land Trust and Finite Carbon are now working to market the credits issued by the Climate Action Reserve.
If successful in selling credits, the trust will dedicate the initial proceeds (after covering costs associated with the carbon project) to the $24 million capital campaign to create the West Grand Lake Community Forest and conserve the key tract of land surrounding the village of Grand Lake Stream, which is also a keystone parcel in a 1.4 million acre international corridor of conserved forests and wetlands between Maine and New Brunswick, Canada.
Ecosystem Marketplace included the news in “The Forest Carbon Newsletter” on September 14, 2012.
Maine Land Trust Registers First California CAR Carbon Project Feature article in The Forestry Source, the magazine of The Society of American Foresters, November 2012.
Rainforest Alliance publicized the project on December 13, 2012.
Creating Carbon Credit. In Northern Woodlands. Spring 2013.