2008-02-12

New York invests in California's carbon

US carbon asset manager Natsource LLC said on Monday it has invested in the first forest-based greenhouse gas emissions reductions under California rules.

Natsource paid a private owner of a redwood forest in Humboldt County represented by nonprofit group the Pacific Forest Trust for credits representing 60,000 tonnes of carbon emissions.
- NY Company Buys First Californian Forest Carbon Credits, PlanetArk
The emissions reductions were created through sustainable forestry on a permanently
conserved property in California. This deal illustrates the significant role that management of existing forests can play in addressing climate change. The transaction is the first commercial delivery of certified emissions reductions under the Forest Protocols adopted last fall by the California Air Resources Board (CARB). The Protocols are the first rigorous governmental accounting standards in the U.S. for climate projects embracing forest management and avoided deforestation, while ensuring emissions reductions are real, permanent, additional and verifiable.
- Joint Press Release (PDF), NatSource and Pacific Forest trust

Links

California Air Resources Board (CARB)
NatSource Asset Management LLC (NatSource)
The Pacific Forest Trust

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