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American Company Eyes Carbon Offset Sale of Northwestern Ontario Timberlands

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Environment News

CARBON OFFSET,FORESTRY,CLIMATE CHANGE

Wagner Forest Management, based in New Hampshire, is considering selling its 480,000-acre forested property near Thunder Bay for use in a carbon offset initiative. The company envisions the project generating millions of emission reduction credits, contributing to climate change mitigation through sustainable forestry practices. While the effectiveness of carbon offset projects is debated globally, experts see this as a potential avenue for using forest resources to address climate change.

THUNDER BAY — An American company that controls some large patches of forest northwest of Thunder Bay is considering the potential sale of its timberlands for use as a carbon offset initiative.

Last July the company extended an invitation to investors interested in the potential development of its holdings as "one of the largest nature-based carbon removal projects in the Voluntary Carbon Market." Luckai said there's controversy around the world over the effectiveness of some carbon offset projects but she feels "it is a really important alternative way for us to use our forest resources to address climate change.""It isn't simply left there to do what it's going to do. That would be considered business as usual, and you can't actually build a carbon offset on that...You actually have to show a feature called additionality.

"It includes a whole set of criteria that speak to sustainable management. There are also criteria in there that speak to the public side of it, like stakeholder engagement, support for local initiatives, and so on."

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