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Courtesy of Anew Climate. Read the news on their website here.
FOR IMMEDIATE RELEASE:
March 7, 2024
ANEW CLIMATE AND QUINTE CONSERVATION ANNOUNCE ISSUANCE OF FIRST CANADIAN ACR CREDITS
Anew Climate, LLC and Quinte Conservation announce the issuance of the first ever forest carbon credits by ACR Improved Forest Management (IFM) on Canadian Forestlands methodology. This forest-carbon project (ACR680) covers more than 10,000 hectares of mixed hardwood forestland in southern Ontario.
“For the past 75 years, Quinte Conservation has protected and conserved land across the region to ensure environmental benefits to our residents. The forethought of past leaders at Quinte Conservation to purchase land to reduce the impacts of flooding, drought and soil loss has led us to this important opportunity. Our partnership with Anew will allow Quinte Conservation to continue locally to fight the impacts of a changing climate and to conserve rare ecotypes and species-at-risk” said Brad McNevin, Chief Administrative Officer for Quinte Conservation.
With the carbon revenues generated from this forestry project, Quinte Conservation intends to extend stewardship programs to other properties within the watershed that otherwise may be developed or managed for timber revenue.
“Anew has long been a pioneering leader in the North American nature-based carbon markets, and this project is further testament to our commitment to pursuing meaningful climate impact through partnerships with local landowners,” said Jonathan Smith, VP-Portfolio Management, Canada. “This is a significant milestone for Anew, Quinte, the North American carbon market, and the Canadian forestry sector. It demonstrates how carbon projects can drive meaningful positive change in forest management practices and ensure forest properties, which would otherwise have been timbered or developed, are instead maintained as sustainably managed forests for long periods of time.”
In 2021, ACR published the methodology for IFM on Canadian Forestlands to support conservation opportunities on eligible lands in Canada, including Indigenous lands and other private and public lands that can be legally harvested for timber, although not Crown lands.
About Anew Climate
Anew Climate, LLC is a global leader of diverse climate solutions built on the principles of transparency and accountability. We bring innovative products and services to the public and private sectors to help reduce or offset their carbon footprints, restore the environment, and ensure our clients’ investments create economic value as well as durable climate impact. With deep market understanding, Anew leverages technological and nature-based solutions to create value through the generation and marketing of environmental credits for low carbon fuel, carbon, renewable energy, and emissions markets. Anew is majority owned by TPG Rise, TPG’s global impact investing platform. The company has offices in the U.S., Canada, Spain, and Hungary and an environmental commodities portfolio that extends across five continents.
About Quinte Conservation
Quinte Conservation is a community-based environmental protection agency, serving 18 municipalities in the Moira, Napanee and Salmon Rivers, and Prince Edward County watersheds. QC provides cost-effective environmental expertise and leadership. QC’s main goal is to create a sustainable ecosystem where people and nature live in harmony. More information about Quinte Conservation is available at www.quinteconservation.ca.
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For immediate inquiries, contact:
Taylor Hermiston
Communications Coordinator
613-968-3434 ext. 123
thermiston@quinteconservation.ca
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