Biggest California forest owner enters carbon trade

12 November 2009

LOS ANGELES (Reuters) - The largest private forest owner in California, Sierra Pacific Industries, is entering carbon markets with a deal to preserve redwoods and other trees and sell credits for soaking up greenhouse gases to power companies and investors, the company said on Wednesday.

The move is a sign that commercial forest owners who have hesitated to embrace carbon markets now see financial potential in the developing system of creating 'offsets' to industrial pollution that can be sold to factories and energy companies.