The Denman Island Avoided Conversion of Forestlands Project encompasses 493 hectares of forest on the north-central part of Denman Island in British Columbia (B.C.), one of the unique gulf islands located between Vancouver Island and the BC Mainland in the Strait of Georgia.
This property was a target acquisition by the Province of British Columbia (BC Parks), with the intention of converting the lands to provincial protected area status. Alternatively, the lands would have been sold and used for agricultural and real estate development – a baseline with marginal forest cover. As part of a CDN $9 million dollar transaction, carbon finance provided the final $1.6 million to ensure the target project lands were secured from the consortium of private owners. ERA was instrumental in developing the framework for this project with the Province. Working with the Ministry of Environment and related parties, ERA facilitated the contracting, finance, carbon project development and commercialization of the offsets allowing this project to happen.
The Denman Island project holds the distinction of being the first time carbon finance was used in Canada to help acquire a parcel of land that would be placed under conservation and transferred to the BC provincial parks system. This complicated, multifaceted carbon project was recognized by the Premier of BC with an Award for Innovation and Excellence.
The Denman project has been validated under ISO and the CCBA standard and achieved ISO verification. The project will generate 430,000 tCO2e over 100 years.