Monday, February 11, 2008

A Eck of a Sale!

Posted By on Mon, Feb 11, 2008 at 2:10 PM

According to the Sacramento Bee, the Van Eck Forest, which has sold carbon credits in the past to Gov. Arnold Schwarzenegger, House Speaker Nancy Pelosi and Assembly Speaker Fabian Núñez, "logged" its largest sale to date recently.

Natsource Asset Management LLC, a New York firm that deals in credits for greenhouse gas emissions reductions and renewable energy development, purchased 60,000 tons of carbon dioxide emissions reductions from the Van Eck Forest for an undisclosed price. The deal was the forest's biggest sale by a factor of 10.

Emissions reductions from such projects typically sell for about $15 a ton. The revenue helps cover the cost of managing the forest so that it soaks up carbon from the atmosphere.

The Journal's own Heidi Walters reported on Mr. Van Eck's forest back in December of last year.

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Japhet Weeks

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