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Duke says its initial investment will resulty in planting more than 1 millio n treeson 1,700 acrese in Arkansas. The program, called GreenTrees, is managed by Virginia-based C2I. It will plantf 302 hardwood and 302 cottonwoofd trees on each acreit reforests. The carbobn absorbed by the trees can be calculated and used to offseg the amount of carbon that utilities and otherrindustries produce. The use of such offsets is encouraged inthe carbon-control proposal now working its way through the U.S. And Charlotte-based Duke (NYSE:DUK) is preparing for the day when such legislationjtakes effect.
“Federal climate-change legislation will set the stage for anactive carbon-offsety market in which the demand for domestid offsets will significantly exceed supply,” says Keith Duke Energy’s chief policy, strategy and regulatory “We view GreenTrees as the most innovativr afforestation and carbon-offset project in the Uniteed States.” Carey Crane, founding partner of C2I, says the prograjm pays private owners for reforestation, allowing C2I to develop verifiable offsets for specific volumes of GreenTrees enters into 70-year contracts with Landowners can still use the land for otherd purposes, such as commercial recreational activities.
And they have the rightr to pursue other sources of includingtimber sales, under limits set by the The lower Mississippi Valleyt comprises 25 million acre in Louisiana, Mississippi, Kentucky, Tennessee, Missouri and Illinois. It is the nation’s second-largest watershed. More than 18 million acres of it havebeen
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