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Carbon Sequestration: Michigan Forestry Carbon Project Presentation to: The USDA Forest Service Landowner Assistance Meeting Charleston, SC October 5, 2006. Presentation Overview. About the Delta Institute Illinois Conservation Climate Initiative Michigan Forestry Projects Activities
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Carbon Sequestration:Michigan Forestry Carbon ProjectPresentation to: The USDA Forest ServiceLandowner Assistance MeetingCharleston, SCOctober 5, 2006
Presentation Overview • About the Delta Institute • Illinois Conservation Climate Initiative • Michigan Forestry Projects • Activities • Opportunities • Benefits
About the Delta Institute The Delta Institute is a Chicago-based non-profit organization promoting environmental quality and community development in the Great Lakes region • Aggregator for carbon offset credits • Trade carbon credits • Reimburse project owners • Technical assistance for verification and carbon baseline development
About the Chicago Climate Exchange • Voluntary, legally binding. • Cap and trade. Members reduce emissions and/or buy credits • Members include: Ford Motor Company, City of Chicago, Waste Management. • Reduce GHG emissions 4% between 2003 and 2005 and an additional 2% between 2006 and 2010. Members joining after 2005 agree to reduce GHG emissions by 6% between 2006 and 2010. • Since its inception in 2003, 19,160,680 metric tons of CO2 reduced - 8% overall reduction.
ICCI Acreage Enrolled To-Date • Total acreage enrolled- 62,200 acres • 53,000 acres in conservation tillage • 6,060 in CRP/CREP grassland • 3,100 acres in CREP trees • For the 2005 and 2006 verification years we will likely return over $231,000 to the agricultural community (with carbon selling at approximately $4.00/metric ton)
Michigan Forestry Carbon Offset Program: Primary Objectives • Develop a carbon forestry program that can become integrated into the Michigan Forest Stewardship Program or other forest management programs • Develop a revolving technical assistance fund to promote participation • Provide a niche for working forests and small managed forests within the carbon markets
Michigan Forestry Carbon Offset Program: Activities • Recruit participants • Contracting and enrollment • Revolving technical assistance pool • Trading and payment • Expansion and transfer
Michigan Forestry Carbon Offset Program: Opportunities • 10 to 13 million acres of private forested land in Michigan • Typical parcel sizes range between 100 and 400 acres • Current CCX market value of $4.00/metric ton carbon • Aforestation/Reforestation (e.g. CREP, working forests) • 3 to 5 metric of metric tons of carbon per acre • Average yearly return to landowner $1,200 to $4,800 • Non-industrial private forest land (e.g. working forests; plantations) • Planted before 1990 • Average carbon sequestration rate of approximately 3 metric tons/acre • Average yearly return to landowner $600 to $2,400
Michigan Forestry Carbon Offset Program: Expected returns to the NIFL • Notes: • Revenue includes CCX transaction fee and 8% aggregation fee • Revenue is based on an average carbon sequestration rate of 3 metric tons per acre
Michigan Forestry Program: Benefits • Strengthen Michigan’s forestry programs • Provide an incentive to landowners for sustainable forest management thereby potentially increasing the acreage being managed under Forestry Stewardship Plans • Return revenue to private landowners providing an incentive for retention of forested lands and/or limiting fragmentation • Strengthen the role of Michigan conservation districts and forestry professionals
Contact Information Abigail Corso Tim Brown Delta Institute Delta Institute Delta P2/E2 Center Delta P2/E2 Center 312-554-0900 ext. 25 312-554-0900 ext. 13 acorso@delta-institute.orgthbrown@delta-institute.org www.delta-institute.org www.p2e2center.org
