Washington Carbon Offset Developer ‘Steps Away’ From Project
A company that had been working with the Washington state Dept. of Natural Resources (DNR) to help develop a state program to sell carbon offsets as a way to generate forest revenues has stepped away from the project, citing the possibility to re-engage at a later date “when the path forward” for developing such a project is clearer, company officials said. Majority-owned by oil producer BP, Finite Carbon had been advising DNR officials since 2020. In April 2022, the company and DNR officials announced the program and an initial sale of 10,000 acres’ worth of carbon offsets. The carbon offset program, which remains under development, has been controversial from the start for timber industry officials in the state, who saw the 10,000 acres taken out of production.
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