In 1997, Oregon passed the first law in the United States to limit carbon dioxide emissions, the primary gas responsible for the changes in weather patterns resulting from climate change. The law limits the net amount of carbon dioxide that a new power plant can release. One way new plants can meet these standards is by investing in carbon offsets projects through The Climate Trust, a nonprofit organization formed in 1997 in response to the Oregon legislation. This project marks the first time that The Climate Trust has funded an international carbon offsets project. Over the project's 100-year lifespan, an estimated 65,000 metric tons of carbon dioxide will be mitigated, equaling 12,000 cars driving 12,000 miles.
"Conservation International and the Jatun Sacha Foundation consider this investment vital in our continuing efforts to working with corporations to combat global warming," said Sonal I. Pandya, manager of Conservation International's Carbon Offsets Program. "Reforestation projects like these also have the additional benefits of protecting critical rainforest habitat, decreasing soil erosion, and providing a new source of investment for local communities."
"We're excited to partner with these leading land conservation groups to provide permanent protection to an Ecuadorian rainforest where deforestation has worsened global warming," said Diana Bodtker, chair of The Climate Trust Board.
Located within Ecuador's 7,410 acre Bilsa Biological Reserve, this project will replant 15 native hardwood tree species from local nurseries. Healthy, intact forests store carbon taken from the atmosphere and thus play a unique role in mitigating the harmful effects of climate change. Global deforestation accounts for 20 percent of the annual emission of greenhouse gases. Currently, less than one percent of Ecuador's coastal rainforest remains intact due to the effects of deforestation from population growth, the doubling of farms and the planting of tall grasses which prevent native trees from being re-established.
Ecuador's unique ecosystem is located within an area Conservation International has classified as a biodiversity hotspot. The 25 biodiversity-hotspots cover just 1.4 percent of the Earth's land surface, yet claim more than 60 percent of total terrestrial species diversity. Under extreme threat, many hotspots have lost more than 90 percent of their original natural habitat. Rare animals found within the Bilsa Biological Reserve include the Jaguar, several small cat species, the Long Wattled Umbrella Bird, the Giant Anteater and abundant populations of the threatened Mantled Howler Monkey. With approximately 330 species, the reserve's bird species diversity is among the highest of any coastal site in Ecuador. A number of threatened birds live in the Bilsa Reserve, and some of the migratory bird species that breed in Bilsa spend part of their lives in Oregon forests. The ongoing botanical inventory at Bilsa has also uncovered 30 plant species new to science.
Reducing greenhouse gases is critical to mitigating the effects of climate change. For many corporations and countries, investments in more efficient ways to derive energy-powered services and forestry-based carbon offsets projects are a cost-effective way to reduce global greenhouse gas emissions. Land-use based carbon offsets projects also restores degraded lands and protect forests.