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CLIMATE ACTION RESERVE PROJECT SHOWCASE Alligator River Avoided Conversion Project CAR – BAAQMD California Offsets Workshop Project Showcase August 8, 2011 About Blue Source Blue Source has built the largest portfolio of North American emission reduction credits and projects. Carbon Credit Portfolio Leading domestic project development and marketing for over 10 years 100-200M tonne portfolio (function of specs) Have sold over 20M tonnes over the past 10 years Projects sourced from 48 states and most provinces in Canada Net-back structure aligns incentives between Blue Source and suppliers Federal and state carbon advocacy leadership Developed the first protocols in numerous carbon categories More CAR listed forestry projects than any other developer 2 | Blue Source | A Leading Climate Change Portfolio CONFIDENTIAL - Subject to NDA Forestry Project Commercialization Blue Source has extensive experience in creating and selling tonnes in the market. Speed, technical knowledge, premium pricing are central to the service offering Methodology Development or Modification Forest Carbon Inventory – Design and Implementation Management Plan Project Design Document (PDD) Development Validation Verification Registration Marketing 7 | Blue Source | A Leading Climate Change Portfolio CONFIDENTIAL - Subject to NDA Working Woodlands: Changing Private Forest Outcomes... Private Landowner Trends and Challenges • Aging landowners with wave of intergenerational transfer • Lack of forest and estate planning • Disinterested heirs • Ecological + amenity values over income, but… • Harvest without plan or professional assistance • Poor incentives to protect and manage forests sustainably = Forest parcelization and forest use/cover fragmentation + degraded private forest lands via poor management vs. CONFIDENTIAL - Subject to NDA Blue Source – Nature Conservancy ‘Working Woodlands’ Program Landowner Benefits • No up-front, out-of-pocket costs • Full forest + carbon inventory and assessment • 10-year FSC management plan and certification • 100% of FSC-certified wood product revenues • 50%+ of forest carbon revenues – important new source of annual cash flow • Inclusion in landscape-scale conservation project designed by TNC Public Benefits • Focus and protect public/private investments • Active and engaged landowners • Repair degraded forests; maintain desired conditions • Keep working landscapes working and in private ownership CONFIDENTIAL - Subject to NDA Alligator River Avoided Conversion Project 2,750 Acres in Hyde County, NC Permit to convert to agriculture Based on anticipated carbon revenue decided to protect forest via easement instead Native forest stands consisting of mixed pine and bottomland hardwoods Pre-sold tonnes to help achieve near term revenue to landowner 7 | Blue Source | A Leading Climate Change Portfolio CONFIDENTIAL - Subject to NDA Alligator River Avoided Conversion Project 7 | Blue Source | A Leading Climate Change Portfolio CONFIDENTIAL - Subject to NDA Alligator River Avoided Conversion Project – Habitat Protection 7 | Blue Source | A Leading Climate Change Portfolio CONFIDENTIAL - Subject to NDA Alligator River Avoided Conversion Project A lot of steps: Designation of Authority Form Project Submittal Form Attestation of Title Boundary Map Signed Easement Inventory Growth Model Monitoring Plan Project Design Document First Verification Project Implementation Agreement Initial Registration of Tonnes Marketing of Project Ongoing monitoring/verification (up to 200 years) Transfer of Tonnes to Buyer 7 | Blue Source | A Leading Climate Change Portfolio Process to date: Delays in getting definitive guidance related to soil carbon First-of application of protocol – many delays but will be a model for others to follow CONFIDENTIAL - Subject to NDA Forest Carbon Credit Development Observations How much uptake on 200 year landowner commitment? Do the rules keep changing? Process from listing to registration too long Mechanics of converting CRTs to ARB compliant offsets 7 | Blue Source | A Leading Climate Change Portfolio CONFIDENTIAL - Subject to NDA Thank You! Roger Williams President Blue Source P: 415.399.9101 E: [email protected] 7 | Blue Source | A Leading Climate Change Portfolio CONFIDENTIAL - Subject to NDA