July 24, 2017 by Ronjoy Bezbarua
(Source: The Climate Trust) U.S.-based private investment fund Climate Trust Capital, an independent entity of the long-standing mission-driven nonprofit The Climate Trust, has reached agreement on its inaugural forestry carbon investment. This $550,000 upfront investment is the second of Climate Trust Capital’s $5.5 million Fund Iaunched in October 2016, and was seeded by a Program-Related Investment from the David and Lucile Packard Foundation and supported by a Conservation Innovation Grant from the USDA’s Natural Resources Conservation Service. The investment is an eleven-year commitment to invest in carbon offsets from a 6,000-acre forestry project with Connecticut-based Great Mountain Forest Corporation (GMF), a not-for-profit 501(c)3 private operating foundation. GMF, with a mission to educate, conserve and support scientific research of its forest areas, is contracting with experienced carbon offset project developer, Bluesource, LLC, to develop an Improved Forest Management project using an upfront investment from Climate Trust Capital’s Fund I. This deployment of capital to GMF from the carbon investment fund is based on the anticipated ten-year value of carbon credits from the project. By implementing a carbon project, GMF is committing to maintaining above average timber stocks on the property. This pledge will be monitored and verified over a 100-year period. Read full article….
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