The Finite Carbon-Colville Improved Forestry Management Project is designed to preserve the current forest carbon stocks on nearly half a million acres of forest land in Washington state. Finite Carbon managed the project development, while BP has facilitated the project through the purchase of credits generated from the project over a five-year period, creating a steady income stream for the Confederated Tribes of the Colville Reservation. The relationship between BP, Finite Carbon and the Confederated Tribes of the Colville Reservation is crucial when it comes to generating carbon credits supporting the operation of the California Cap and Trade scheme.
How does the project contribute to carbon reduction?
BP believes that carbon pricing is the most effective way to limit greenhouse gas emissions. Offsets are created from emission reduction project activities (including Improved Forestry Management) which are outside of the cap, stimulating investment in emission reduction activities.
In September 2017 approximately 13 million offsets (representing ~13MtCO2e of emission reductions/removals) were issued by the CARB on behalf of the project, meaning that Colville IFM is the largest ever carbon offset project within the California Cap-and-Trade program.