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Carbon (and other) Markets to Conserve Ecosystems Richard Pace EcoAsset Markets, Inc. (EAM)

Carbon (and other) Markets to Conserve Ecosystems Richard Pace EcoAsset Markets, Inc. (EAM). Presentation Overview. Brief Overview of Markets Early Development of Ecoservice Funds Market Related Pilots Business Models/Summary. Major threats to global ecosystems.

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Carbon (and other) Markets to Conserve Ecosystems Richard Pace EcoAsset Markets, Inc. (EAM)

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  1. Carbon (and other) Markets to Conserve Ecosystems Richard Pace EcoAsset Markets, Inc. (EAM)

  2. Presentation Overview • Brief Overview of Markets • Early Development of Ecoservice Funds • Market Related Pilots • Business Models/Summary

  3. Major threats to global ecosystems • Climate Change/Instability • Land Clearing for Agriculture and Development • Water Quality and Quantity Degradation from Industrial and Agricultural Pollution • Inadequate Planning and Management of Human Settlements

  4. Institutional Structures to Address Environmental Threats • Non-profit environmental organizations • Policy advocacy • Land purchase and easement creation • Government public policy • Environmental regulation • Environmental enhancement subsidies • Environmental market creation • Increased capital through conservation-based securities

  5. Market Examples • Air Pollution Market (The First EcoMarket) • Carbon Market • Community Based Markets/Exchanges • Nature Services Exchange • TNC Forest Bank

  6. Air Pollution Markets…a regulated cap and trade market • In 2010, SO2 emissions will be at one-half of 1980 emissions • “Allowances” are the currency used to comply with emissions requirements • “Allowances” are fully marketable commodities • Monitoring and reporting ensure accountability • Rhode Island Reporting

  7. U.S. Carbon Market…a voluntary cap and trade market • Chicago Climate Exchange • RGGI • West coast regional market • Carbon as a surrogate of a larger aggregate of ecosystem service values/services

  8. Regional Greenhouse Gas Initiative (RGGI) • Nine (?) participating northeastern states • Primarily for utilities and large industrial greenhouse gas emitters • Rhode Island draft rules provide for two potential farm related carbon offsets • Afforestation (tree planting on land where there are no trees or trees have not existed for a long period)) • Methane Gas Capture from livestock operations

  9. Ecosystem Service Payments • A Land Trusts and Conservation Easements • B Water Quality Trading • C Private Watershed Management • D Water Trading • E Compliant Carbon Trading • F Certified Agriculture and Fisheries • Source: Forest Trends 2006 • In billions of dollars

  10. Nature Services Exchange • EAM and URI • Find buyers and sellers • Advertising/ marketing • Collect money from residents and pay to farmers • JAMESTOWN FARMERS • Delay hay harvesting to save bobolink nests • JAMESTOWN, RI RESIDENTS • Buy contract shares $ $ “BUYERS” “SELLERS” “MEDIATOR”

  11. Business Proposition Landowner “deposits” their timber rights in the bank by signing a recordable document. Receive annual payments based on the value of the deposit. The bank generates income by conducting ecologically sustainable harvests on the timber deposited in the bank as well as selling ecosystem service credits. How forest landowners think High standards of forest management and an honest valuation of their timber were very important. 74% wanted their land to remain wooded beyond their lifetimes. Losing control of the land was a great concern.. 35% expressed interest in making deposit. TNC Indiana Forest Bank

  12. Early Ecoservice Funds • New Forests ($100M) Acquiring “EcoProducts” • MuniMae Sustainable Land Fund ($100M+) Mitigation Banking Carbon Credits • Greenvest ($25M) Acquiring Properties • Ecosystem Investment Partners/Lyme Timber ($30M) Acquiring Properties through relationships with TNC and conservation NGOs

  13. Markets Biodiversity • Australian Biodiversity • U.S Conservation Banking • Voluntary Deals Carbon • Kyoto Deals • Non-Kyoto Deals • Chicago Climate Exchange (Voluntary) • EU Emissions Trading • New South Wales GHG Abatement Water • Costa Rica Water Market • US TMDL Trading (Very early stage) • US Wetland Banking

  14. Examples of Market Pilots • Red Barn Trading (Pennsylvania) • Nutrient Net (Chesapeake Bay) • Delta Institute Crop Insurance (Upper Midwest) • Bobolink Project (New England)

  15. Business Models Funds New Forests Greenvest MuniMae Sustainable Land Fund Broker/Dealers Natsource CO2E CCX EBX Knowledge Businesses CH2MHill Natural Capital Project NatureServe

  16. Summary • Ecosystem service markets are rapidly evolving • Carbon market is significant • Numerous market pilots in water and biodiversity • USDA will provide $50-100M in Grants • Early eco-product funds are expanding • Particularly forest related • Assessment and valuation information will spur growth

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