Chellie Pingree

Congresswoman Chellie Pingree (D-Maine) and Congressman William Timmons (R-S.C.) introduced the Rural Forest Markets Act, bipartisan legislation to help small-scale, family forest owners and states forestry agencies access new economic opportunities and develop solutions to mitigate the climate crisis. …“While 95% of Maine forest land is privately owned, few forest owners currently participate in carbon markets due to the up-front costs and uncertainty about rules and requirements. The Rural Forest Markets Act will help Maine’s family forest owners tap into carbon markets and create an economic incentive for climate-friendly management of state forests,” said Pingree. The Rural Forest Markets Act would create a program at USDA to guarantee loans, bonds, or other investment vehicles up to $150 million for projects that assist private forest owners in overcoming financial and technical barriers so they can create and sell carbon credits. This would create an incentive for climate-friendly management and provide another revenue stream for forest owners.