On November 4, the Allegheny Land Trust announced it has partnered with the Regen Network to sell carbon credits based on its land holdings in Western Pennsylvania.  The sale is believed to be the largest urban forest carbon credit sale in the nation.

This record-breaking sale of credits will generate more than $135,000.

This is actually the second sale of carbon credits made by the Trust.  The first sale generated more than $50,000 [Read more here] for a total participation in this program of over $185,000.

The carbon plus credits also quantifies stormwater sequestered, air quality improvements and energy efficiency support, according to Alyson Fearon who leads this program at the Trust.

“Through this innovative program, we are able to bring private dollars to the Pittsburgh region and utilize them locally to address regional issues and to lessen the impact of climate change and other threats to our resiliency,” said Chris Beichner, ALT President & CEO. “This carbon credit sale proves this creative approach is a viable concept that can be replicated within our region and across the globe to make transformational change close-to-home.”

Carbon offsets are project investments that help to reduce or avoid carbon emissions, or that are able to capture and store carbon that has already been emitted; each offset represents 1 metric ton of carbon dioxide or its equivalent.

This purchase was made by Regen Network Development, Inc. and will act as the broker of ALT’s available carbon credits, and is certified through the nonprofit City Forest Credits (CFC).

“Regen Network is delighted to support Allegheny Land Trust by purchasing carbon credits for the Regen Network blockchain carbon marketplace,” said Sarah Baxendell, the director of business development at Regen Network Development, Inc. “ALT's land trust work signals that urban forest conservation is critical to urban community health and climate action. Partnering with the City Forest registry ensures that urban forest preservation work is cemented as a viable climate impact strategy."

CFC is a specialized carbon registry managing carbon protocols and impact standards to protect and plant trees in metropolitan areas in the United States.

This is a unique approach as its one of the only registries working in urban areas to more effectively bring the benefits of carbon capture to the populations experiencing the negative outcomes of carbon emissions.

“Carbon financing can provide a critical source of private funding for land trusts to protect urban forests at risk of conversion. The close proximity of the forests to people has direct benefits to the health of the residents who live, work and breathe nearby,” said CFC director Liz Johnston. “This recent purchase from Regen is a great example of how companies can advance their carbon goals while also supporting the well-being of local communities.”

Companies seeking carbon credits to offset their emissions as a short or long-term solution will buy credits from the broker, which in turn supports the land conservation efforts of ALT.

“This allows us to diversify our funding and protect lands in communities that may not have financial capacity, but could certainly benefit from permanently protected land,” said Beichner. “We hope companies – and especially southwestern Pennsylvania companies – will participate in this opportunity, and we hope to see it grow as a partnership for land trusts across the nation.”

For more information on programs, initiatives, upcoming educational programs and other events, visit the Allegheny Land Trust website.  Click Here to read the Trust’s most recent newsletter.  Click Here to add your email to their mailing list.  Click Here to support their work.

(Photo: Wingfield Pines, Allegheny Land Trust.)

NewsClips:

-- PG - Laura Legere: Carbon Stored In Elizabeth Township Forest Will Help Pay For Its Preservation

-- PG - Laura Legere: Family-Owned Forests Define PA’s Landscape, Can They Cash In On The Carbon In Their Trees?

Related Articles:

-- Lancaster Farmland Trust Partners With Landowners To Preserve 88 Acre Zimmerman Farm

-- Sproat Family, Natural Lands Partner To Preserve 42 Acre Farm In Chester County

-- TribLive: 624-Acre Hays Woods Purchase Gets Final OK, To Be Pittsburgh’s 2nd Largest Park

-- Inquirer - Rebuilding Philly: Let’s Reimagine Urban Green Space As A Way To Promote Social Justice

[Posted: November 4, 2021]

11/8/2021