This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Finite Carbon And Norfolk Southern Register Brosnan Forest Carbon Project

CHARLESTON, S.C., Oct. 22, 2013 /PRNewswire/ -- Finite Carbon and Norfolk Southern Corporation (NYSE: NSC) today announced the successful development and registration of the Brosnan Forest Improved Forest Management carbon project. The project meets the Climate Action Reserve's forest project protocol and resulted in more than 282,000 eligible carbon offset credits at initial registration. The project is being transitioned as an early action project for the California Air Resources Board greenhouse gas emissions trading program.

Carbon offset credits are issued for projects that significantly reduce greenhouse gas emissions. Each credit represents one metric ton of carbon dioxide-equivalents avoided by the natural process of trees absorbing carbon dioxide. The credits can be sold to companies or individuals interested in offsetting their emissions. Proceeds from the eventual sale of the carbon credits may be used to further promote the sustainable management and conservation of wildlife and forestry resources at Brosnan Forest.

Owned by Norfolk Southern and its predecessor railroads for some 180 years, Brosnan Forest includes more than 14,400 acres in South Carolina's Lowcountry and is the largest privately protected property in the state. Brosnan Forest is a significant forest in the ACE Basin, one of the largest undeveloped estuaries on the East Coast. Norfolk Southern permanently protected the land from development in 2008 when it donated a conservation easement on more than 12,000 acres to the Lowcountry Open Land Trust.

Brosnan Forest includes 6,200 acres of longleaf pine forest, one of North America's most threatened forest ecosystems. Longleaf forests provide unique habitat for a rich diversity of plants and wildlife. Brosnan Forest provides a safe harbor for 82 colonies of endangered red-cockaded woodpeckers, the largest population of such birds on a single tract of private land. To help restore this important ecosystem to its historic U.S. range, Norfolk Southern is planting an additional 2,000 acres of longleaf pine at Brosnan Forest over the next decade.

"Finite Carbon's forestry team and project development expertise guided the Brosnan Forest carbon project from conception to successful completion," said Blair Wimbush, NS vice president real estate and corporate sustainability officer. "The project perfectly aligns with Norfolk Southern's sustainability efforts, which include improving the fuel and energy efficiencies of our locomotive fleet, lowering energy use at railroad facilities, and investing in reforestation efforts to restore longleaf pine forests and American chestnut trees to their native ranges and planting 6 million trees on 10,000 acres in the Mississippi Delta."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs