8 January 2014
EL DORADO, AR and SACRAMENTO, CA
January 7, 2014
Finite Carbon and Potlatch Corporation today announced the successful completion and registration of the Finite Carbon – Moro Big Pine CE Improved Forest Management Early Action Offset Project with the California Air Resources Board. Located on 15,809 acres in south-central Arkansas, Moro Big Pine is the nation’s first and only improved forest management (IFM) compliance offset project completed for a publicly-traded timber real estate investment trust.
Finite Carbon provided all financing, development, and offset transaction support for the Moro Big Pine project which was initially developed and registered under the Climate Action Reserve forest project protocol. Upon registration with the California ARB greenhouse gas emissions trading program on December 26, 2013, Moro Big Pine received an initial issuance of 220,208 ARB compliance carbon offsets.
“The Moro Big Pine project effectively merges habitat conservation for the endangered red-cockaded woodpecker, industrial timber management, and carbon yields,” said Eric Cremers, President and Chief Operating Officer for Potlatch. “The increased carbon uptake and storage realized by the project results in carbon revenues that compliment traditional returns for Potlatch. Moro Big Pine demonstrates how management for conservation values and long term sustainable forestry can have synergy with the regulatory carbon offset market.”
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