Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Acadian Timber (ADN) updates on its carbon credit project
  • Acadian executed its first carbon development and marketing agreement to develop voluntary carbon credits on the portion of its Maine Timberlands
  • This project will require long-term planning, annual reporting, periodic carbon inventory verification, and maintenance
  • The impact on Acadian’s financial results is subject to the successful marketing of the credits and to the timing of
  • After the share of proceeds, Acadian is expected to receive around 84 per cent of gross revenues from any sale of the carbon credits
  • Acadian Timber (ADN) is up 5.34 per cent, trading at C$17.57 at 11:44 pm EST

Acadian Timber (ADN) has updated its ongoing carbon credit project.

“Although the carbon credit model is still subject to completion of third-party verification, we are pleased to have made significant progress and to be able to provide an update,” commented Adam Sheparski, President and Chief Executive Officer.

“Pricing and the successful marketing of our credits will ultimately determine the impact to our financial results,” added Sheparski.

In 2021, Acadian executed its first carbon development and marketing agreement to develop voluntary carbon credits on the portion of its Maine Timberlands that is subject to a working forest conservation easement.

This project will require a balance between harvest and growth and requires long-term planning, annual reporting, periodic carbon inventory verification, and maintenance of the existing sustainable forestry certification.

Under the current timeline, credits are expected to be registered on the American Carbon Registry in the fourth quarter of 2022, with the potential for sales to be realized immediately thereafter.

The impact on Acadian’s financial results is subject to the successful marketing of the credits and to the timing of, and prices obtained from, contracts negotiated with third parties, which are not yet in place.

After the share of proceeds, Acadian is expected to receive around 84 per cent from any sale of the carbon credits.

Acadian is one of the largest timberland owners in Eastern Canada and the Northeastern U.S. and has around 2.4 million acres of land under management.

Also worth mentioning is how the company owns and manages roughly 761,000 acres of freehold timberlands in New Brunswick.

Acadian Timber (ADN) is up 5.34 per cent, trading at C$17.57 at 11:44 pm EST.


More From The Market Herald

" Ceres Global (TSX:CRP) appoints new board director

Ceres Global (CRP) appointed Thomas Coyle to the Board of Directors, effective October 1, 2022.

" Water Ways (TSXV:WWT) delivers and installs a new water purification system for farmers in Ethiopia

Water Ways Technologies (WWT) installed a water purification system to provide accessible drinking water for farmers in remote areas in Ethiopia.

" MustGrow (CSE:MGRO) advances its agri-tech

MustGrow Biologics (MGRO) has provided an update on the progression of its mustard-derived crop protection and food preservation technology.