Yes. RFFI has already accomplished this. The Usal Redwood Forest carbon project was approved by California’s Air Resources Board in late August of 2016. With ARB approval, Usal’s carbon was registered as “compliance” credits that can be sold to companies that are required to offset carbon emissions as required by California’s climate change policies.
This is the culmination of a complex, multi-faceted effort to certify the carbon that is and will be sequestered through implementation of its forest conservation strategy. In 2015, after four years of diligent work with our advisor Tom Tuchmann of US Forest Capital, RFFI successfully registered 3,166,372 tons of Usal Redwood Forest carbon with California’s Climate Action Reserve (CAR). The Usal Redwood Forest carbon project is one of the largest forest carbon sequestration projects in the country. CAR registration was a significant step towards registering the Usal Forest’s carbon project with California’s Air Resources Board (ARB). As part of CAR’s early action program, an independent third-party verified the carbon sequestered by Usal’s sustainable forest management practices. The second step, i.e., independent verification by a third-party verifier, was completed in May 2016.
The project was then verified and registered with California’s ARB in August 2016 allowing for the sale of compliance carbon credits now and in the future, as the market allows.
On May 5, 2016, the Redwood Forest Foundation was honored by California’s Climate Action Reserve as a Top 2015 Project Developer for Usal Redwood Forest Company’s Carbon Offset Project. RFFI was recognized for achieving the highest level of emissions reduction of any project in 2015.
Carbon registration is an essential step in RFFI’s long-standing plan to develop revenue streams that do not rely exclusively on timber production. The sale of carbon credits is part of a strategy that will allow the Redwood Forest Foundation to further its sustainable forest stewardship program. This revenue source will support RFFI’s sustainable forest management by reducing the financial pressure to harvest trees to service our debt, allowing RFFI to improve forest health and address climate change.