Tuesday, 30 October 2012
First Climate Action Reserve Forest Carbon Project
© Downeast Lakes Land Trust, assisted by LightHawk
Last month, Finite Carbon and Downeast Lakes Land Trust announced the completion and registration of the Farm Cove Forest Carbon Project, the first Climate Action Reserve Improved Forest Management project outside California, and the largest to date.
The carbon project on 19,118 acres in eastern Maine was designed to maintain or increase forest carbon stocks above the level expected under common practice.
Downeast Lakes Land Trust and Finite Carbon anticipate quickly 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 that are expected to have a value of over $2 million upon conversion to the ARB program.
Downeast Lakes is an FSC Forest Management certificate holder. The Farm Cove project is the first of several FSC certified properties that Finite Carbon expects to register this year.
To learn more, visit Finite Carbon’s website here.