Mountain Pine Ridge, Belize/New York, NY, October 8, 2002 — Silviculture Belize Ltd and the Government of Belize announce that tree planting at the devastated Mountain Pine Ridge Forest Reserve, one of the world’s largest reforestation projects, has completed its first month of full-scale operations.
The program to reestablish 70,000 acres of forest reserve that were destroyed by a massive beetle infestation will sequester millions of tons of CO2 and is being financed by the sale of greenhouse gas reductions. Evolution Markets LLC is assisting in the marketing of these reductions.
“The Mountain Pine Ridge is one of the most treasured national resources of Belize,” said Francois Chebat, Director of Silviculture Belize. “The scope of the project, in which we will be replacing more than half of the entire forest reserve, is massive. We are off to a great start, but we have much work to do.”
Silviculture Belize, the project manager, reports that the workforce of more than 100 has planted 500,000 seedlings in the last month. Silviculture Belize intends to plant 3.5 million seedlings by the end of 2002, covering 10,000 acres. By next year, Silviculture Belize will employ more than 200 locally trained workers planting 90,000 seedlings per day. All told, 24.5 million seedlings will be planted in an effort to regenerate the Mountain Pine Ridge Forest Reserve. And, the planting has met with great success.
“The growth of seedlings at Mountain Pine Ridge has been most exciting,” said Jol Hodgson, President of Global Forest Nursery Development, Inc., which leads the nursery and field development activities. “The eight-inch seedlings planted in the last month have already grown three inches and are projected to grow three feet each year. Our analysis of trees already in this area is very encouraging for the future of the revitalized forest.”
In addition to replenishing the forest reserve for the citizens of Belize, the planting of new trees in Mountain Pine Ridge will also have a positive impact on global climate change. The reforestation of Mountain Pine Ridge will reduce CO2, a greenhouse gas that contributes to climate change. The newly planted trees will sequester more than 3.8 million tons of CO2 in the first ten years of the project. More than 24 million tons of CO2 will be sequestered in the first 50 years.
The greenhouse gas emission reductions resulting from the reforestation are an integral part of the financing of the project. Evolution Markets is assisting the Government of Belize and Silviculture Belize in arranging financing for the Mountain Pine Ridge reforestation by facilitating the sale of the resulting greenhouse gas emissions reductions. The sale of reductions will be used to fund continued planting.
“Having been to Mountain Pine Ridge and seen the devastation first hand, I am acutely aware of the uphill battle facing the citizens of Belize,” said Andrew Ertel, President and CEO of Evolution Markets LLC. “We were moved to action, and hope to encourage others to get involved by purchasing carbon credits.”
More information on the reforestation of Belize’s Mountain Pine Ridge and the carbon finance initiative can be found on the Evolution Markets Web site at: http://www.evomarkets.com/Belize or by calling Ertel or Benedikt von Butler at: +1 212.430.6475.
About Evolution Markets LLC
Evolution Markets LLC is a privately held expert brokerage and advisory service firm that specializes in environmental and energy markets. The firm’s expertise covers OTC coal markets and all major emission credits including SO2 and NOx Emission Allowances, Greenhouse Gas (GHG) Emissions Reductions, and Emission Reduction Credits (ERCs).
Evolution Markets has consummated more than $3 billion in emissions transactions globally. More information on Evolution Markets can be found by calling +1 212-430-6475 or by visiting http://www.evomarkets.com.