16 July 2015
Demonstrating Berea College’s long-standing commitment to sustainability, Berea College and New Forests announced today the successful listing of the Berea College Forest Carbon Project with California’s Climate Action Reserve Program. Through the Berea College Improved Forest Management Project, carbon offset credits can be used for compliance in the Air Resources Board of California’s greenhouse gas cap and trade program.
The project encompasses the College’s Oak-Hickory and Oak-Pine forest near Berea, Kentucky. By registering the Improved Forest Management project and selling carbon offsets in the California cap and trade system, Berea College will make a commitment to maintain current forest carbon stocks and manage the forest for both increased carbon sequestration and sustainable timber production. The project will have the combined benefit of generating significant revenue for Berea College and assisting in the protection of the College’s forest for future generations. It will also serve as an example of an environmentally-friendly alternative revenue stream that other Appalachian forest owners can investigate for their own property.
Through its Forest Carbon Partners, L.P. investment fund, forestry investment manager New Forests is providing offset project finance and managing all aspects of project development and offset credit sales for the project. The Berea College project is one of eleven forest carbon offset projects registered or currently under development by New Forests’ Forest Carbon Partners fund for the California carbon market.