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CLIMATE ACTION RESERVE PROJECT SHOWCASE Alligator River Avoided Conversion Project

CLIMATE ACTION RESERVE PROJECT SHOWCASE Alligator River Avoided Conversion Project. CAR – BAAQMD California Offsets Workshop Project Showcase August 8, 2011. About Blue Source. Blue Source has built the largest portfolio of North American emission reduction credits and projects.

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CLIMATE ACTION RESERVE PROJECT SHOWCASE Alligator River Avoided Conversion Project

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  1. CLIMATE ACTION RESERVE PROJECT SHOWCASE Alligator River Avoided Conversion Project CAR – BAAQMD California Offsets Workshop Project Showcase August 8, 2011

  2. About Blue Source Blue Source has built the largest portfolio of North American emission reduction credits and projects. Carbon Credit Portfolio • Leading domestic project development and marketing for over 10 years • 100-200M tonne portfolio (function of specs) • Have sold over 20M tonnes over the past 10 years • Projects sourced from 48 states and most provinces in Canada • Net-back structure aligns incentives between Blue Source and suppliers • Federal and state carbon advocacy leadership • Developed the first protocols in numerous carbon categories • More CAR listed forestry projects than any other developer 2 | Blue Source | A Leading Climate Change Portfolio

  3. Forestry Project Commercialization Blue Source has extensive experience in creating and selling tonnes in the market. Speed, technical knowledge, premium pricing are central to the service offering • Methodology Development or Modification • Forest Carbon Inventory – Design and Implementation • Management Plan • Project Design Document (PDD) Development • Validation • Verification • Registration • Marketing 7 | Blue Source | A Leading Climate Change Portfolio

  4. vs. Working Woodlands: Changing Private Forest Outcomes... • Private Landowner Trends and Challenges • Aging landowners with wave of intergenerational transfer • Lack of forest and estate planning • Disinterested heirs • Ecological + amenity values over income, but… • Harvest without plan or professional assistance • Poor incentives to protect and manage forests sustainably • = Forest parcelization and forest use/cover fragmentation + degraded private forest lands via poor management

  5. Blue Source – Nature Conservancy ‘Working Woodlands’ Program Public Benefits Landowner Benefits • No up-front, out-of-pocket costs • Full forest + carbon inventory and assessment • 10-year FSC management plan and certification • 100% of FSC-certified wood product revenues • 50%+ of forest carbon revenues – important new source of annual cash flow • Inclusion in landscape-scale conservation project designed by TNC • Focus and protect public/private investments • Active and engaged landowners • Repair degraded forests; maintain desired conditions • Keep working landscapes working and in private ownership

  6. Alligator River Avoided Conversion Project • Native forest stands consisting of mixed pine and bottomland hardwoods • Pre-sold tonnes to help achieve near term revenue to landowner • 2,750 Acres in Hyde County, NC • Permit to convert to agriculture • Based on anticipated carbon revenue decided to protect forest via easement instead 7 | Blue Source | A Leading Climate Change Portfolio

  7. Alligator River Avoided Conversion Project 7 | Blue Source | A Leading Climate Change Portfolio

  8. Alligator River Avoided Conversion Project – Habitat Protection 7 | Blue Source | A Leading Climate Change Portfolio

  9. Alligator River Avoided Conversion Project A lot of steps: • Designation of Authority Form • Project Submittal Form • Attestation of Title • Boundary Map • Signed Easement • Inventory • Growth Model • Monitoring Plan • Project Design Document • First Verification • Project Implementation Agreement • Initial Registration of Tonnes • Marketing of Project • Ongoing monitoring/verification (up to 200 years) • Transfer of Tonnes to Buyer Process to date: • Delays in getting definitive guidance related to soil carbon • First-of application of protocol – many delays but will be a model for others to follow 7 | Blue Source | A Leading Climate Change Portfolio

  10. Forest Carbon Credit Development Observations • How much uptake on 200 year landowner commitment? • Do the rules keep changing? • Process from listing to registration too long • Mechanics of converting CRTs to ARB compliant offsets 7 | Blue Source | A Leading Climate Change Portfolio

  11. Thank You! Roger Williams President Blue Source P: 415.399.9101 E: rwilliams@bluesource.com 7 | Blue Source | A Leading Climate Change Portfolio

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