Pacific Carbon Trust (PCT) is launching its first call for forest-based offset projects, said CEO Scott MacDonald today. "Bringing forestry offset projects into our growing portfolio of made-in-BC offsets is good for BC, both economically and environmentally," said MacDonald. "Our call for land-based forestry projects will serve as an excellent complement to the projects that are already active in our procurement process - including industrial projects with forest manufacturers."
This procurement call is a first step in creating a whole new category of economic opportunities for the forest sector in BC, and solidifying BC's leadership position in tackling climate change through a full suite of actions across industry sectors.
Today's call targets afforestation, select-seed and fertilization projects on Crown and private land. Pacific Carbon Trust expects to acquire up to $3 million in forest offsets through this call. The closing date for this solicitation is June 15, 2010. PCT will continue to expand the scope of its portfolio of carbon offsets to include a broad range of forestry activities.
"Afforestation, select seed and fertilization are the first of many forestry-related activities that can be used to help offset carbon emissions," said Forests and Range Minister Pat Bell. "Forestry is well-positioned to have a growing future in the new low-carbon economy."
"BC has the best forest practices in the world, and Pacific Carbon Trust's procurement of forest sequestration offsets will result in world-class offsets that produce real greenhouse gas reductions," said Minister of State for Climate Action John Yap.
The three activities targeted in PCT's call are focused on increasing the total stock of carbon sequestered in BC's forests. Afforestation projects increase the area of BC forests by planting on land, other than native non-forest ecosystems, that has not been forested since Dec. 31, 1989. Fertilization projects add nutrients to increase tree growth on sites deficient in one or more soil nutrients. Select-seed projects focus on planting seedlings grown from seeds selected for specific traits, such as faster growth, increased timber volume and carbon content, and greater resistance to insects and disease.
To qualify as an offset, a project must conform to the BC Emission Offsets Regulation, demonstrating a carbon reduction that is "additional" to forest management in a business-as-usual scenario.
Pacific Carbon Trust is a Crown corporation established in 2008 to deliver BC-based greenhouse gas offsets, to help clients meet their carbon-reduction goals and to support the growth of BC's low-carbon economy.
For more information on this solicitation, or to be added to our industry interest list, please visit www.pacificcarbontrust.com