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Shell to buy 500,000 California forest carbon credits

Shell to buy 500,000 California forest carbon credits | Timberland Investment | Scoop.it
Shell Energy has agreed to buy 500,000 carbon offsets sourced from a forestry project in Michigan as soon as regulators approve the credits for use in California's cap-and-trade program.

The credits come from a project by carbon offset developers Blue Source to improve forest management in a swatch of land in Michigan's upper peninsula.

"The transaction represents a significant step in carbon market development since actions from large compliance entities like Shell are necessary to help spur investment in greenhouse gas reduction projects," Blue Source said in a press release.

Blue Source, which also brokered the deal, said it would not disclose how much Shell agreed to pay for the credits.

The Bishop property where the project resides consists of over 200,000 acres of land, making it one of the largest offset projects in development that can generate credits eligible for California's carbon market.

Sam Radcliffe's insight:

The Bishop property is owned by a fund managed by The Forestland Group.

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Big wildfire in Michigan's UP could cost DNR $3.5M

Big wildfire in Michigan's UP could cost DNR $3.5M | Timberland Investment | Scoop.it

The cost of fighting a roughly 33-square-mile fire in Michigan's Upper Peninsula is expected to rise to at least $3.5 million.

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The DNR reported Wednesday that crews fully contained the fire, about three weeks after a lightning strike started it.

The wildfire destroyed 136 structures, including homes, outbuildings and campers. It temporarily closed Tahquamenon Falls State Park. No injuries were reported.

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State forest plan passed by split Michigan Senate

State forest plan passed by split Michigan Senate | Timberland Investment | Scoop.it

The Michigan Senate voted Tuesday to curtail state regulators' consideration of biological diversity when designating sections of state forest land, over the objections of environmentalists who said the "anti-science" bill would gut a practice in place for nearly 100 years.


The measure was approved 26-11 along party lines in the Republican-led chamber. It is sponsored by an Upper Peninsula lawmaker and backed by the timber industry. They contend the legislation is needed to prevent large areas of state-owned land from being declared off-limits to logging and motorized recreation, although officials say that is not their intention.

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The measure would order the state to balance its forest management activities with economic concerns. It also would delete "biological diversity" from the DNR's list of forest management duties, eliminate a requirement that the DNR promote restoration in managing forests and erase a prior legislative finding that most losses of biological diversity are the result of human activity.

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The state spent years looking for tracts suitable for the "biodiversity stewardship area" designation, beginning in the northern Lower Peninsula. After consulting with interest groups including the forest products industry and environmentalists, the DNR put together a draft plan identifying 678,000 acres that might be suitable.

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But the draft drew opposition from the timber industry. And now Casperson's bill is sparking outrage in the environmental community, which says its scope would affect much more than the Living Legacies Initiative.


"This is terrible legislation. It undercuts one of the Michigan Department of Natural Resources' chief missions — to protect and enhance the diversity and splendor of Michigan's woodlands and forests," Brad Garmon, director of conservation and emerging issues for the Michigan Environmental Council, said in a statement.

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34 Homes Destroyed In Michigan Wildfire

34 Homes Destroyed In Michigan Wildfire | Timberland Investment | Scoop.it

NEWBERRY, Mich.-- Crews worked Tuesday to ensure that no more structures were damaged by a wildfire burning across more than 30 square miles of Michigan's Upper Peninsula as high winds in the forecast threatened to test firefighting efforts...

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