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SC Forests Could Soon Earn Carbon Credits
11 Jul
Summary
- South Carolina explores selling carbon credits for forest management.
- Milliken Advisors hired to develop a carbon credit plan by Dec. 16.
- Carbon credits help companies offset emissions by funding reduction projects.
South Carolina is investigating a novel method to fund the management of its 1.6 million acres of protected forests: selling carbon credits. The state Department of Natural Resources has engaged Milliken Advisors for nearly $110,000 to assess the viability and implementation of this strategy. Milliken Advisors is tasked with creating a plan by December 16, 2026, to make agency-managed lands eligible for carbon credits.
Carbon credits function as a mechanism for companies to invest in projects that decrease greenhouse gas emissions. One credit is equivalent to one metric ton of carbon dioxide absorbed. This initiative could allow companies, including major polluters like oil and gas firms, airlines, and tech giants, to offset their environmental impact by supporting forest conservation and enhancement efforts within South Carolina. Milliken Advisors has prior experience with similar projects on commercial timber lands, including a notable project at Norfolk Southern's Brosnan Forest.
