One of Canada’s largest timber companies is setting aside 40,000 hectares of British Columbia coastal forests – woodlands three times larger than the city of Vancouver – after concluding it can make more money from letting trees grow and selling carbon credits than from logging.
Mosaic oversees forest holdings for two B.C. companies – TimberWest Forest Corp. and Island Timberlands L.P. – which are owned by three large pension plans: the British Columbia Investment Management Corp., the Public Sector Pension Investment Board and Alberta Investment Management Corp. “This is not greenwashing,” said Mr. Flederbach, who co-founded ClimeCo in 2009. “Nature-based carbon credits are a part of sophisticated businesses’ strategies to meet their GHG targets.“ He said BigCoast offsets will be certified under the Verified Carbon Standard, the industry’s most rigorous, and will command a premium price in the rapidly expanding offset trading market.
The company will share a portion of BigCoast’s revenue with two charities – the Pacific Salmon Foundation and the Indigenous Protected and Conserved Areas Innovation Program. In a news release, T’Sou-ke First Nation Chief Gordon Planes said: “This initiative provides decades of certainty for First Nations to research these lands.”
Selling carbon emission indulgences?
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