Mosaic Forest Management, which oversees the private lands of logging companies TimberWest and Island Timberlands, announced the deferral last week along with intentions to finance the plan through a carbon credit program that is expected to raise several hundred million dollars by 2047.
Ken Wu, executive director of the alliance, says long-term deferrals will buy time to arrange further protection and Mosaic should be commended for its “important step” if the measure “pans out.”Article content Mosaic says stands slated for protection cover an area three times the size of Vancouver and are located on parts of Vancouver Island and on Haida Gwaii.
The company says it expects to capture and store more than 10 million tonnes of carbon dioxide through its plan as well as conserving some of B.C.’s oldest trees, ecosystems and wildlife habitats.Article content