Innovative deal sees permanent retirement of coal reserves while securing long-term income for Chugach community via forest carbon market

A groundbreaking new deal was announced today that has secured the sale and permanent retirement of an Alaskan coal field, while also ensuring long-term income for an Alaskan Native community.

The deal will see the Chugach Alaska Corporation (Chugach) sell its Bering River coal rights to New Forests, a sustainable forestry and conservation investment manager. New Forests will retire those rights by transferring them to The Nature Conservancy and the local Native Conservancy land trust, while generating revenue through the California cap-and-trade carbon market.

The transaction illustrates how land can be managed in a way that yields both financial and environmental benefits. It also provides an investment model that shows how conservation finance can create new opportunities for landowners, investors and non-profit partners seeking to balance long-term land stewardship and development...

Full Press Release

Associated Press Article - "Alaska Natives to protect land for California carbon program"