New Forests and Round Valley Indian Tribes register first forest carbon offset project

March 19, 2015
Mar 20, 2015. /Lesprom Network/. The Round Valley Indian Tribes and New Forests announced the regulatory approval of the first forest carbon offset project developed on Native American trust land for the California carbon market. The California Air Resources Board (“ARB”) approved issuance of over 540,000 ARB offset credits to the Round Valley Indian Tribes Improved Forest Management Project in February 2015. ARB offset credits can be used for compliance in the California greenhouse gas cap and trade program, as the company said in the press release received by Lesprom Network.

The project encompasses 5,550 acres of Douglas-Fir and mixed hardwood forest on the Round Valley Indian Tribes’ reservation in Northern California. By registering the Improved Forest Management project and selling carbon offsets in the California cap and trade system, the Round Valley Indian Tribes have made a commitment to maintain current forest carbon stocks and to manage the forest for both increased carbon sequestration and sustainable timber production.

Through its Forest Carbon Partners, L.P. investment fund, forestry investment manager New Forests has provided offset project finance and managed all aspects of project development and offset credit sales for the project. The Round Valley Indian Tribes project is one of ten forest carbon offset projects registered or currently under development by New Forests’ Forest Carbon Partners fund for the California carbon market.

“We are proud that the Round Valley Indian Tribes chose to work with New Forests to finance, develop, and register their first forest carbon project,” said Brian Shillinglaw, Associate Director, New Forests Inc. “With the first California-compliant forest carbon project on Native American trust land, the Round Valley Indian Tribes are leaders in accessing the California carbon market to finance forest stewardship and economic development. With the success of this project, New Forests has registered more projects than any other company under the California compliance forest carbon offset protocol, and we are the only company to successfully register such projects to date for Native American clients on fee or trust land.”



Comments

To like this you need to register.
To do this, enter your name and email address.
Name:
Surname:
E-mail:
Sex:
If you are already registered
please enter your details here
To leave comments you need to register.
To do this, enter your name and email address.
Name:
Surname:
E-mail:
Sex:
If you are already registered
please enter your details here
We welcome comments that advance the story through relevant opinion and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Lesprom Network. For more information on our comment policy, see: http://www.lesprom.com/legal/comment_policy/
Back to top