The Development of an Ecosystem Services Trading Program for Family Forest Landowners to Promote the Protection of Atmospheric, Water & Soil Resources in Maine

The Trust to Conserve Northeast Forestlands proposes to assist family forest landowners in taking advantage of an emerging greenhouse gas emissions market by assembling carbon offset credits associated with ecologically sound forest management on private lands and selling the credits to investors. This project will develop a credible model forest carbon project using family forest properties representing a diversity of parcel sizes and tree species composition. This innovative work will develop the technical tools necessary to bring income to landowners for providing valuable carbon sequestration ecosystem services. Forest management will meet international standards for environmental, economic, and social sustainability under the Forest Stewardship Council certification program. Co-benefits to the carbon offset program will also include protection of soil and water quality. The project will also propose to develop a credible set of practices that will be used as an accounting tool to establish the market value for such practices. Model easements will be developed to create the legal structure needed to maintain the implementation of practices that create carbon benefits and protect water and soil quality. A monitoring program will be developed to ensure the terms of the easements are being followed. The project will be evaluated as a case study for a program to be expanded in a statewide or regional context. Analyses will be conducted to evaluate the compatibility of the program with existing state forest policies, including tax incentive and cost-share programs. In addition, we will evaluate the economic costs and benefits to landowners who provide additional carbon sequestration within this pilot framework.