RELEASE: LARGEST URBAN FOREST CARBON CREDIT PURCHASE TO SUPPORT CONSERVING LAND
RESULTING MEDIA COVERAGE:
November 4, 2021
For Immediate Release
Pittsburgh, PA – The largest urban forest carbon credit sale in the nation was made in October 2021, and will support land conservation in the southwestern Pennsylvania region via local nonprofit Allegheny Land Trust (ALT).
This significant purchase increases the capacity of ALT to conserve and care for more crucial green space in southwestern Pennsylvania.
“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.”
RESULTING MEDIA COVERAGE: