October 1, 2009
Salt Lake City, UT – Leading emissions reduction project developer and offset marketer Bluesource today announced the listing of the first project under the Climate Action Reserve’s Forest Project Protocol version 3.0.
The Alligator River Avoided Conversion Project will permanently preserve a 2,500-acre tract of forest in North Carolina.
The project has been listed by the Climate Action Reserve under the organization’s updated forestry protocol. The successful listing of this project is an indication that the Climate Action Reserve has developed a functioning process to compliment their high integrity forest carbon protocol that can be applied across the U.S.
It is estimated that forests have the ability to store 10 percent of domestic greenhouse gas emissions each year. The Climate Action Reserve’s development of a domestic forestry protocol is instrumental for projects across the U.S. that are poised to make an entrance into the current voluntary and pending federal compliance carbon markets. The third version of the Forest Project Protocol was adopted in September as global communities looked to the power of forests and forest management to effectively address climate change.
By agreeing to preserve the natural woodlands, thereby avoiding greenhouse gas emissions from forest clearing, the landowner is able to access a revenue stream for offsets for carbon sequestration. Once registered, they will be issued CRTs (Climate Reserve Tonnes) from the Climate Action Reserve which can be offered to buyers who are interested in rewarding the conservation effort.
“We’re glad to realize the opportunity to do our part in finding solutions to help curb global warming, and at the same time, preserve the natural forest and wildlife habitat of this area in perpetuity,” said Glenn Lowder, a representative of the landowners.
Both biological and geological sequestration have an important role to play in the global response to climate change. The Alligator River project marks a maturing point in domestic forest carbon and establishes Blue Source as a leader in both forms of sequestration.
“Bluesource is excited to be a part of this important step in providing a tree-lined path to the carbon market for forward-thinking landowners who practice improved environmental stewardship,” said Blue Source Vice President Roger Williams. “The development of Climate Action Reserve’s forestry protocol enables Blue Source to generate very real and very valuable carbon revenues for landowners while helping preserve natural resources.”
About Blue Source
Bluesource offers businesses and landowners multiple approaches for reducing, sequestering and managing greenhouse gas emissions. Blue Source provides access to capital to fund project development, works with companies and landowners on developing projects and oversees production of long-term Verified Emission Reductions (VERs). For more information visit: www.bluesource.com.
– See more at: http://bluesource.com/news/view/Blue-Source-Lists-First-Forestry-Project-Under-Climate-Action-Reserve-s-Forest-Project-Protocol-Version-3#sthash.eUZZInjX.dpuf