Yogi Berra directed us this story about the Yurok Tribe participating in this Capitalist based free market hybrid of cap and trade. No one is really sure whether the controversial Cap and Trade market will work to solve our carbon based global warming problems in the end. We can’t fault the tribe for participating since it lines up with their land management vision pretty well.
Tony Barboza at the Los Angeles Times reports about it:
The Yurok tribe has sold millions of dollars’ worth of carbon credits, known as offsets, to some of the state’s biggest polluters. The tribe’s forestry program is one of more than two dozen operations across the nation that has generated offsets for California’s growing carbon market.
The initiative is giving the Yurok tribe a new way to make money while it improves wildlife habitat, expands its forestry staff and acquires land in its ancestral territory near the mouth of the Klamath River in Del Norte and Humboldt counties.
Instead of selling lumber, as it has in the past, Yurok tribe hopes to make money through cap-and-trade
Instead of preparing to sell lumber, as it has in the past, the state’s largest Indian tribe is taking stock of its firs, redwoods and tanoaks to make money in California’s cap-and-trade program.
By managing its forest near Redwood National Park for carbon storage instead of timber harvest, the tribe is generating credits to sell to oil companies and other businesses that must reduce greenhouse gas emissions as part of the state’s effort to slow climate change.
When trees are allowed to grow, they absorb more carbon dioxide from the air and store it in their trunks, branches and roots. That sequestered carbon, which would otherwise be contributing to global warming, is now a valuable commodity for landowners like the Yurok.
Full story here: