First Tasmanian Projects Validated

Redd Forests, the Australian based carbon project developer, has achieved validation of its Tasmanian Improved Forestry Management projects, the first such projects in the world.

Working with Tasmanian landowners, Redd Forests has registered the first of multiple projects, all of which protect native Tasmanian forests from being logged, on the international Verified Carbon Standard (VCS) Register today.

Climate Friendly, the Australian based global leader in voluntary carbon markets, has agreed to be the first buyer of carbon credits from these projects.

The first project will generate 40,000 voluntary carbon units per year for the next 25 years.  It covers an area of some 7,000+ hectares of privately owned forest that, historically, has been logged for, predominantly, woodchips.

Through this innovative program, landowners are now able to earn carbon credit income for the avoided emissions from the international carbon market, the pending Australian Carbon Farming Initiative or a future Australian Emissions Trading Scheme.

A further 15,000 hectares already under contract with Redd Forests will closely follow with each parcel of land being individually verified over the coming months.  Redd Forests aims to achieve a total in excess of 150,000 hectares of Tasmanian private forest under protection by the end of 2012.

Each project avoids the emissions of greenhouse gases resulting from the logging, chipping and pulping of the timber into short-lived paper products. Instead the forests will be protected and managed by their owners for 25 years enabling them to regenerate, grow and store carbon.

The projects also provide part of the solution to the Tasmanian forestry debate; providing an alternative income to private land owners who would otherwise continue to rely on revenues from logging their land for low value woodchips.  Traditionally, there has been an ongoing division between two opposing objectives or either reservation or logging.  This program now presents an opportunity to achieve conservation and at the same time, generate employment opportunities and income for landowners.

Redd Forest’s projects add much needed impetus to recognising Tasmania’s unique private land, native forest estate.  They also help move the State’s timber industry to a sustainable future based on high value timber products.  This program will end the dependence on wood-chipping native forests, recognising that there is currently a rapid displacement of the woodchip market to a plantation-based industry.

Stephen Dickey, Managing Director of Redd Forests said; “this is a win-win for Tasmania, for Australia’s fight against climate change and forest loss in general.  It values the standing native forests rather than the woodchips they have historically provided and recognises their role in sequestering and storing carbon dioxide and protecting habitats for endangered species such as the iconic Tasmanian Devil and Tasmanian Wedge Tailed Eagle.”

“Tasmania’s native forests are of paramount importance, internationally.  They are home to the tallest flowering plants on Earth and are a significant store of carbon. Protecting these forests from planned harvesting and helping them recover from historical harvesting benefits everybody” he added.

Freddy Sharpe, CEO OF Climate Friendly, said “We are delighted to be the first buyer of carbon credits from these projects which keep carbon where it belongs, in the ground, and which protect our majestic native forests.  We congratulate REDD Forests on achieving VCS validation and registration of these world leading, Australian based projects and we look forward to working with our global clients to ensure ongoing support for these vitally important programs.”