NY Company Buys First Californian Forest Carbon Credits

[Kadie]

NY Company Buys First Californian Forest Carbon Credits


US: February 12, 2008


NEW YORK - 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.
The company declined to say how much it paid for the credits, but a source familiar with the deal said Natsource bought the credits for "well below" $10 per tonne.

Trees soak up the main greenhouse gas carbon dioxide as they grow, and release it when they rot or are burned.

Carbon market developers like Natsource say they can encourage land owners to make forests grow and absorb more carbon by paying them to take actions that wouldn't have happened otherwise, like slowing deforestation and harvesting timber more carefully.

The United States does not regulate greenhouse gases, but several states like California and 10 others in the Northeast are creating carbon markets of their own.


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