World Bank Carbon Fund Project in Nicaragua Buying Carbon-Equivalent Emission Reductions
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6 June 2008: The World Bank’s Carbon Fund is facilitating a US$8.37 million project in southern Nicaragua that plans to turn 600 hectares of privately-owned former cattle ranches into new-growth teak forests.

The Nicaragua Precious Woods Project began in August 2006, and intends to absorb nearly 300,000 tons of carbon emissions by the year 2017 […]

Maderas_preciosas
6 June 2008: The World Bank’s Carbon Fund is facilitating a
US$8.37 million project in southern Nicaragua that plans to turn 600 hectares
of privately-owned former cattle ranches into new-growth teak forests. The Nicaragua Precious Woods Project began in August 2006,
and intends to absorb nearly 300,000 tons of carbon emissions by the year 2017
while conserving approximately 350 hectares of secondary forest and mature
trees.

This project will be one of the first carbon emission reduction projects
in the Clean Development Mechanism’s Land Use, Land Use Change and Forestry
sector, with the World Bank’s Carbon Fund “buying” 297,045 tons of
carbon-equivalent emission reductions generated from the project, or 26 percent
of the total, by 2017 at US$4 per ton. [World
Bank Project Report
]