The Mountain Association for Community Economic Development (“MACED”) has a valuable web site at http://www.maced.org. Among the most helpful items are those that deal with forestry and developing economic benefit from carbon credits from managed forests in Kentucky.
Based on MACED’s introductory carbon price of $5.05 per metric ton, woodland owners could be receiving over $100 million annually for carbon storage. According to the Kentucky Department of Forestry:
- Kentucky has one of the most diverse hardwood species mix in the nation. It is second only to Florida.
There are 11.9 million acres of forestland in Kentucky.
- Kentucky is 47 percent forested.
- Eighty-nine percent of Kentucky’s forestland is privately owned.
- Seventy-two percent of the forestland is composed of oak-hickory species.
- 89% of Kentucky’s forestland is owned by private landowners in small plots averaging 26 acres.
Loans are available to cover the cost of professional forestry services related to the Managed Forest Carbon Offset Program. Loans can be used to cover the cost of the required inventory, management planning and certification. The interest on these loans is 5.00% per annum (simple interest) and all the loans reach maturity five years after the date the loan paperwork is signed. Loan payments are deducted from the net value of the landowner’s carbon offsets at the time sale occurs. There is no penalty for partial or full early repayment.
Contact MACED for more information or to apply for a loan at www.maced.org.