Georgia Carbon Exchange – Forest Pilot Project Webinar
Georgia’s 22 million acres of working forests clean the water 57% of citizens depend on, offset 27% of our state’s carbon emissions, and support a way of life across rural Georgia. But that asset is under pressure.
Our recent webinar outlined the challenges – and detailed opportunities ahead. The presentation on the Georgia RISE project and the Georgia Carbon Exchange was led by the Drawdown Georgia Business Compact, the Ray C. Anderson Center for Sustainable Business, and the Georgia Forestry Foundation.
Among the sobering statistics: Last year, Georgia lost three pulpwood mills – wiping out 8.3 million tons of demand and over $3 billion in economic impact. An estimated 6,000 individuals have lost their jobs or the primary revenue for their small business. Meanwhile, as timber markets decline, the value of the land rises – creating an incentive for landowners to sell to developers. Additional challenges include hurricane recovery, pine beetle pressure, and wildfires.
Markets are key to forestland resiliency. Without them, we risk losing working forestland to fragmentation and development.
The response is Georgia RISE – a five-year, USDA Forest Service-funded initiative connecting Georgia Tech, the Georgia Forestry Foundation, the UGA Warnell School of Forestry, Clemson University, and the Southern Regional Extension Forestry. The goal is to build carbon, water, and biodiversity markets for the state’s 130,000+ private forest landowners (91% of Georgia's forests are privately owned). Corporations in Georgia will have the opportunity to buy high-integrity carbon credits that support our state’s economy and ecosystem – and deliver a boon to the communities in which they operate.
Highlights from the webinar include:
🌲Nearly 3,100 landowners have been reached through 41 outreach events so far – and they’ve expressed strong interest in the carbon project.
🌲Carbon credits will complement active forest management, not compete with it.
🌲Pooled, portfolio-style participation will ensure that small landowners aren’t priced out by monitoring and verification costs.
🌲CCP-labeled carbon methodologies are being used to prioritize carbon credit quality.
🌲Innovative deal structures that are being considered include pay-for-performance and shorter-term carbon leases.
🌲A new partnership with Chainparency will strengthen our remote-sensing capabilities and transparency in the project.
Researchers, landowners, and corporate buyers are working together to build a market that fits the Southeast.
Is your organization exploring advance market commitments or ways to invest in Georgia’s forests, land, and rural communities? Reach out to Lucas Clay to learn more.