Potential new source of revenue for Alaska: Carbon credits

By Suzanne Downing
Must Read Alaska
December 15, 2022
Category: Carbon, Climate & Bioenergy
Region: United States, US West

The Clinton Administration, the federal government locked up the Tongass National Forest and the timber industry in Alaska all but dried up. …Now, Gov. Mike Dunleavy is looking at selling carbon credits for at least some of the forested land that is not harvestable. It’s done in other parts of the world and, with carbon credits, the state could make up to $1 billion a year in revenue. It will take years to roll out but if Alaska can’t cut the trees, can it profit from that sequestration of carbon in this new business of carbon credits? Gov. Mike Dunleavy wants to find out, and he needs the Legislature to pass a bill allowing him to develop contracts. What he will propose is a carbon credit program for some forest lands and depleted oil basins.

 

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