The project will immediately deliver significant carbon revenues to The Forestland Group through pre-contracted sales made by Bluesource to companies that participate in California’s cap and trade program. Bluesource also provided all project financing and development services, from carbon inventory and modeling to third party verification support, registration and marketing.
“This project represents a number of important milestones for both the timber and carbon markets,” said Kaarsten Turner Dalby, Vice President of Ecological Services at the Forestland Group. “It provides further demonstration that sustainable timberland management can deliver strong and diverse returns on investment, and shows how private landowners across the country can benefit from emerging carbon regulations.”
The project is The Forestland Group’s first registration of carbon credits under the California cap and trade program, while Bluesource has now registered more forest carbon credits with the California compliance program than any other market participant.
“We are excited to have completed a project of this scale which we believe provides important proof that commercial timberland operators practicing sustainable forestry can participate and thrive within the California market,” said Roger Williams, President of Bluesource. “This market is trending upwards in that buyers are demonstrating ongoing strong demand for forest carbon offsets. The development cycle for these projects is also getting shorter. We have five other projects that have passed verification and are undergoing final ARB review, and new projects underway with Timber Investment Management Organizations and conservation organizations. It’s great to see this level of momentum, value and environmental benefit being generated by sensible climate policy.”
The project ensures both carbon stocks and sustainable harvesting will be maintained in mixed hardwood and conifer stands extending over seven counties surrounding the Picture Rocks National Lakeshore in the Upper Peninsula of Michigan. The area provides habitat for numerous important regional species and recreational access for hiking, hunting, snowmobiling and birding.
About The Forestland Group
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 3.6 million acres in 20 U.S. states as well as in Belize, Canada Costa Rica, and Panama. 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.
About bluesource
For the last 13 years, bluesource 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. Bluesource’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 credits with the California system than any other company. Bluesource 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, bluesource 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. Bluesource 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 rwilliams@bluesource.com, or visit: www.bluesource.com.
