Lac Seul First Nation Forest Carbon Project
16% gross revenue royalty on the sale of carbon credits from Lac Seul First Nation’s forest project in Ontario
Lac Seul First Nation, Big Tree Carbon Inc., Anew Climate LLC
Federal Output-Based Performance Standards (OBPS) Carbon Credit
16% Gross Revenue Royalty on Big Tree Carbon’s carbon credit revenue share
(with a Right of First Refusal on any forest carbon sequestration within the overall Lac Seul Forest Management Unit)
- The Government of Canada has mandated minimum standards for carbon pricing across Canada and implemented a federal program applied to greenhouse gas-emitting industrial facilities in several provinces, including Ontario.
- Reforestation and the conservation of the boreal forest through improved forest management practices are creating carbon offsets through the combination of trees not being logged and their subsequent absorption of atmospheric CO2 through photosynthesis and sequestration of CO2 into their biomass.
- Big Tree Carbon and Anew Climate are assisting Lac Seul First Nation in developing forest carbon sequestration opportunities on the Nation’s Reserve lands and Traditional Territory that the parties expect to result in carbon credits that can be sold to federally regulated industrial emitters under Ontario’s compliance carbon market.
- The Lac Seul First Nation Forest Pilot Project covers a forested area of 22,063 hectares of the Nation’s Reserve lands (representing approximately 3% of the overall 800,000-hectare Lac Seul Forest Management Unit) and has the potential to sequester significant amounts of CO2 per year.
- The future benefits derived from the monetization of the carbon credits, net of expenses, will be split with the significant majority going to the Lac Seul First Nation and the remainder to Big Tree Carbon and Anew Climate.
- Green Star Royalties and Big Tree Carbon are working together to identify other carbon sequestration, renewable energy and mining opportunities to pursue.