Forest Carbon project issued 200,000 credits
A Forestry project based in Maine expects to deliver 200,000 carbon offset credits for use in the California carbon market.
The Improved Forest Management (IFM) project encompasses 19,118 acres and was registered under the Climate Action Reserve.
IFM projects require that landowners adjust the management practices of their properties to increase forest carbon stocks in order to earn carbon offset credits.
In addition to the 200,000 credits issued up-front, Forestry projects receive additional credits for the annual growth recorded on the project area. The project in Maine anticipates an additional 20,000 credits annually from continued growth.
With only four project protocols approved for use in the California carbon market, there are concerns that the supply of carbon offset credits will fall well short of the projected demand of 10 million for 2013 alone.